Management for Motivation and Job S atisfaction in the COOP Banking Industry

Abstract

In the midst of a world financial crisis characterized by bonus cuts and austerity measures, managers should be knowledgeable and inventive enough in order to find new ways to motivate their employees. The purpose of the presented study was to identify the top five factors that employees of COOP banks in Cyprus perceive to be the most important motivators. Primary data were collected from a questionnaire designed for this purpose and distributed to a representative sample of employees of COOP banks at a pan-Cyprian level. After data collection and codification, data analysis was carried out using descriptive statistics. Results indicate that the top five motivational factors are for Cypriot COOP bank employees are: Work environment, Salary, Possibility for Growth, Relationship with Co-workers, and Interesting Work. The above factors could serve as straight forward recommendations for bank managers on how to motivate their employees and as a result increase productivity and job satisfaction, which by its turn would have an influence on the long term prosperity and growth of COOP banks. Keywords—Human Resource Management, Leadership, Motivation, Job Satisfaction, Productivity, COOP Banking.

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