The challenges of employee motivation and its impact on the performance of a financial services organization : a case study

Abstract

Financial services organisations in Malta have very high standards and for these to be achieved, the organisation needs to acquire employees with core competencies. This may be reached by applying the right measures and tools to increase the motivation level of the employees within the organisation. Finco Group, as a financial services organisation in Malta, was chosen for this study, and the full perception of the organisation was obtained. The study revealed that the main factors that motivate employees are management loyalty, career advancement, good salaries, good a working environment, recognition and appreciation. The main objectives of this research were to identify the challenges that the management of a financial services organisation has in order to boost motivation among the employees, what impact this motivation has on the performance of the organisation, and to recommend possible solutions towards increasing the motivation of the employees. To identify the challenges and recommend possible solutions, the researcher gathered data through questionnaires distributed to the employees and interviews with the management of the aforementioned organisation. To lend more objectivity to the study, a triangulation method was applied. This method helped the researcher to understand the whole setting and also enlighten areas where the employees’ perspective of the management with the literature was not in accordance. The study goes on to provide a set of recommendations to the organisation on how to continue enhancing motivation among the employees. The study concludes by providing other possible avenues for further research.