It also involves recruiting and selecting people, training and developing their capabilities, motivating and compensating their services vis-à-vis the job and organisational requirement (Harzing and Ruysseveldt, 2009).The assertion that employee’s performance is directly related to employees’ motivation has been corroborated by different management theories (Nohria et al, 2008).
On a daily basis, banks are involved in various activities that require appropriate manpower and a highly effective team to function effectively.
As such, corporate goals are set and translated into viable realities only when employees play their due roles in achieving desired results (Ovadje and Ankomah, 2001).
This has been challenging for employers for a long time and has been dealt with in different ways across organisations over time (Gospel, 1992).
HRM is the strategic approach to the management of an organisation’s most valued assets – the employees who work together individually and collectively to achieve the aims and objectives of the business (Mead and Andrews, 2009).
This is because a motivated employee is likely to perform better.
Many researchers in the area of organisational performance have argued that employee motivation is an important element in individual and organisational performance and is also a significant factor in people’s decision to quit working in an organisation (Steer et al., 2004; Tzeng, 2002).
In today’s chaotic business environment, success depends on employees utilising their talents.
Despite the myriad of available theories and practices, there have always been a misconception around motivation because individuals are motivated by different things or needs and in different ways (Ghebregiorgis and Karsten, 2007).
This is due to the fact that employees are different and are motivated by different factors.
Also, not all employees’ needs would correspond to the organisation’s needs; hence some needs may relate entirely to the individual’s private life and be neutral to company’s goals (Meads and Andrews, 2009).