Incentive monetary and its impact on turnout intentions of employees at NBP

Sunday, October 20, 2013

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Incentive monetary and its impact on turnout intentions of employees at NBP

MGT619 Final Project on Incentive monetary and its impact on turnout intentions at National bank of Pakistan.

Subject code:- MGT619 Final Project

Research by:- Mian Aamir

Year:- 2013

Research boundary Lahore

Organization National Bank of Pakistan

Acknowledgement

It will not be fair if I forget the personalities who help me out during my Project preparation. I appreciate all of my teachers who made able me to reach at this stage. I am personally grateful to my course Instructor for helping me out time to time. I specially acknowledge the guidelines and help of my brotherly friend Mr. Aamir Iqbal Anjum for guiding me as a profound teacher during entire period of preparation of my Final Project.

Abstract

This research was conducted to determine incentive monetary and its impact on employee turnout intentions. Every organization strives to retain its employees as getting new employees as their replacement requires selection process, screening and then training them to perform the job expected of this, however this is a tedious process and takes considerably large amount of time. Instead companies try to maintain a low turnout to retain their existing employees. Monetary incentives are offered to employees to reduce their turnout intentions. This study has examined the factors of monetary incentives and its impact on employees’ turnout intentions at National Bank of Pakistan.

Questionnaires were used as a data collection tool, survey methods was used to distribute self-administered questionnaires among employees of National bank. This data was then analyzed using MS Excel. Mean analysis was put to use for calculating mean values of incentive monetary variables. the calculated mean values are presented in table 1.1 according to this table majority of employees were satisfied and content with variables of incentive monetary at National Bank.

Then correlation was calculated and data was represented in a table. Table 1.2 shows correlation value, according to correlation table a Strong Negative is present between incentive monetary and turnout intentions, which mean turnout intentions of employees can be reduced if proper monetary incentives are offered to them. Interpretation against mean values and correlation is provided for further studying of these variables.

What is incentive monetary?

The current study is going to investigate the incentive monetary and its impact on turnout intentions of employees at National bank of Pakistan. The basic aim of this research is to know current monetary benefits to the employees in National bank of Pakistan and study the employee intention of turnover in selected organization. In order to access all mentioned objectives, the study will collect data from the employees of National bank from who are working at middle level. Primary data will be used to record the feedback of employees with the help of questionnaires.

Incentives systems are clearly related to the expectancy theory of employee motivation. The effort-to-performance expectancy is strongly influenced by the performance appraisal that is often part of the reward system. An employee is likely to expend extra effort if he or she knows that performance will be measured, evaluated, and rewarded. The performance-to-outcome expectancy is affected by the extent to which the employee believes that performance will be followed by rewards. Finally, as expectancy theory predicts, each reward or potential reward has a somewhat different value for each individual. One person may want a promotion more than benefits; someone else may want just the opposite.