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Term Paper Employee Motivation of Global Merchants Limited

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Employee Motivation of Global Merchants Limited

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Term Paper Employee Motivation of Global Merchants Limited

  1. 1. Study report on Employee Motivation of Global Merchants Limited Submitted to: Dr. Mohd. Shahadt Hossain Mahmud, PhD Joint Secretary Director (Administration) Bangladesh Institute of Management (BIM) Submitted by: Md. Akhtar hossain ID: 14DH245 Bangladesh Institute of Management Batch: Evening 03(2014), PGD-HRM Date of Submission: 21st December, 2014 Bangladesh Institute of Management (BIM)
  2. 2. Letter of Transmittal December 21, 2014 To, Dr. Mohd. Shahadt Hossain Mahmud, (PhD) Joint Secretary, Director (Administration), Bangladesh Institute of Management (BIM) Subject: Submission of study report on “Employee Motivation of Global Merchants Limited” Dear Sir, With pleasure, as a requirement of the course of Post- Graduate Diploma in Human Resource Management I would like to submit my study report titled “Employee Motivation of Global Merchants Limited” for your kind acceptance and adjudication. It is to be noted that or any part of it has not been submitted to any other person or institution for any other degree or award. Your sincerely, Md. Akhtar hossain ID No. 14DH 245 Batch: Evening III PGDHRM
  3. 3. Acknowledgement First of all, I would like to thank almighty Allah for giving me the opportunity to complete my research study on Employee Motivation of Global Merchants Ltd. I also want to thank all the people, who have given their support and assistance to complete the study successfully. BIM and Global Merchants Limited both provided me with enormous support and guidance for my research study, I would like to express my gratitude to my supervisor Mohd. Shahadt Hossain Mahmud, PhD, Director (Administration), BIM for his guidance. Without his guidance preparing this report would not be possible. I would also like to thank my honorable managing director and supervisor (GM-HR & Admin) and others officials of Global Merchants Limited who helped me and gave me their valuable time, providing me with the most relevant information on the basis of which I have prepared this report. I am thankful to all of them for helping and guiding me and for being nice and kind to me.
  4. 4. Table of contents Executive Summary 1 Background Introduction 2 Rationale of the study 2 Objective (General objective, Specific objective) 2 Methodology (Data collection procedure & analysis, Data presentation, Sampling) 3 Scope of the study 4 Limitations 4 Chapter 1 : The organization : Global Merchants Ltd. 5 1.1 Profile of the organization 6 1.2 Vision, Mission 1.3 Product, Quality and safety 7 1.4 Professional Services 7 1.5 What will do for you 7 1.6 GML Work tem 7 1.7 Global Merchants Ltd. Core Values 8 1.8 Major Business 8 1.9 Environmental Policy 8 1.10 Organizational Hierarchy 9 1.11 Hierarchy of Global Merchants Ltd. 10 Chapter 2 : Motivation 11 2.1 Definition 11 2.2 Source of Motivation 12 2.3 Reasons for Employees Lack of Motivation in today’s world 12 2.4 Motivational Theories 13 2.4.1 Maslows Hierarchy of need theory 2.4.2 Herzberg’s two-factor theory 2.5 Strengthening Motivation 15 2.6 Importance of Motivation 15-17 2.7 Ten ways to Motivate Today’s Employees 17-19 2.8 Different approaches to Motivation 19-21
  5. 5. Chapter 3 : Employee Motivation of Global Merchants Ltd. 21 3.1 Requirement of motivated employees 21 3.2 Global Merchants Limited role in the motivating process 21-22 3.3 Motivational factors that’s Global Merchants Ltd. Provide 23 3.3.1 Financial Motivators 23 3.3.2 Non- financial motivators 24 3.4 Employee Benefits other than financial – non financial motivating factors 24-26 3.5 Importance of Motivation for employees 26-28 Chapter 4 : Finding & Recommendation 29 4.1 Findings 29 4.2 Recommendation 30 Chapter 5 : Conclusion 31 References 32 Appendix 33-37 A . People I contacted B. Questionnaire
  6. 6. Executive Summary Global Merchants Ltd is a sweater factory and also involved buying business. It’s situated Konabari under the district of Gazipur and corporate office located navana tower apartment, gulshan-1, Dhaka. In terms of machineries, it is a medium to small sweater factory and other related factory dealing with sweater & woven garments production. Global Merchants Ltd. Is a fast growing company that has substantial contribution in the economy of Bangladesh. Motivation is a key factor to every business. Global Merchants Ltd, management provides their employees good environment and they also influences their employees with various facilities like smart salary, increment etc. For this reason the employees of Global Merchants Ltd. are motivated and ready to make more contribution to the organization. When they fail to gives their employee’s facilities then develops a felling of dissatisfaction. This term paper outlines the methods used in the study to gather data about the various factors that influences employee motivation and how to better motivate the company’s employees in the future. This also aims to have a sound human resource management strategy that attracts retains and motivates the valuable employees, it is important that the managers find out what the employees are looking for from their jobs. The company should constantly assess the employees motivation levels and also what they need, want or expect form their work. The key to motivating employees and manage them in ways that lead to profits, productivity, innovation, and organizational effectiveness is to understand how to motivate them. Page No. 1
  7. 7. Introduction Global Merchants Ltd. Is a fast growing company that has substantial contribution in the economy of Bangladesh. In response to growing demands of the customers nationally and internationally Global Merchants Ltd. has diversified its business to include wide range of products in its portfolio. Global Merchants Ltd. has started its expansion policy by exploring and strengthening the garments wing further so that it can continue giving reliable service to the garments sector of Bangladesh. Rationale of the study is for the fulfillment of post graduates Diploma in Human Resources Management (PGDHRM) degree requirement. The paper we originated as per the direction of the organizational supervisor Mr. Jayanal Abedin, GM-HR & Admin of Global Merchants Ltd. And subsequently were approved by the faculty supervisor Mohd. Shahadt Hossain Mahmud, Phd, Joint Secretary Director (Administration), BIM. Objective of the study are: General Objective:  To fulfill the requirement for completion of the Post Graduate Diploma in Human Resources Management.  Identify the factors that encourage positive motivational behavior among employees is the Objective of this research. This in turn would develop customer service, efficient time management in each organization.  To analyze and evaluate the employee motivation process of Global Merchants Ltd. Specific objectives:  To determine the ways to motivate employees  To determine the acceptability and reliability of the employee motivation system  To recommend and suggest in improving the existing system.  To relate the theoretical knowledge and the practical knowledge.  To determine the problem areas which influence the employee motivation Page No. 2
  8. 8. Methodology of the study is almost descriptive which is based on both primary and secondary data. To study and shape the report as the final format the following two main aspects are considered: Data Collection & Analysis Data Presentation Data Collection: For the task I have chosen Global Merchants Ltd. As in recent time the company is one of the medium employers in Bangladesh. In preparing report, a reliable source of collecting data is vital measures. In this report, both primary and secondary sources of information have been used. Primary data are observed and recorded as part of an original study. When the data required for a particular study can be found neither in the internal records of the enterprise, nor in published sources, may it become necessary to collect original data, i.e, to conduct first hand investigation. In the report the researcher has used the following source to collect primary data:  Direct conversation with the HR employees  Communicating with some staff  Face to face conversation with the higher authority Secondary data are collected through the following sources:  Internet  Different books etc.  Office Record
  9. 9. Page No. 3 Data Presentation: Then I have analyzed those data from many angles, in different aspect and present the information in different segment according to their category, in compact way, I have highlighted different important things, which we found during our survey. After doing all of those we have submitted the report to the proper authority. However, the flowchart for preparing the report is: Fig: 1.1: Stages of Methodology Scope of the study is limited to the discussion of employee motivation systems of Global Merchants Ltd. Limitations of the study:  Time Allocation to complete the whole study is too limited  Unavailability of relevant records and information in the organization is a major constrains  Unintentional non-cooperation of the target group/respondents in providing necessary information, as they were busy is also a remarkable limitation of the study.  Some of the respondents were afraid of in providing confidential information and some of them showed less interest on such assignment and in a few of the target group willingly avoided of providing information. Page No. 4 Topic Selection & selecting a site Data collectionPrimary data Secondary data Data Presentation Submission of Final Term Paper
  10. 10. CHAPTER 1 Profile of the organization 1.1 Profile of the organization About Global Merchants Ltd. Global Merchants Ltd. Founded in 2003, aims to offer the client complete fashion solution for their business. The company has expertise in both woven and Knitted garments and therefore, is in a unique position, able to provide commercial collection for the high street. The team is made up of highly qualities personnel and is led by its founders who have over fifteen years experience in the business. We have in house manufacturing capabilities as well as a select range of partner’s factories, with whom we have built a trusted and close relationship. Global Merchants Ltd. Work with a small, select and trusted group of facilities. These factories have been approved by the Disney group, GAP, H&M etc. and are in total compliance with all international labour laws and regulations. The company also has its own manufacturing capabilities with 4000+ hand flat knitting machines at present; our plan is to expand this is to over 5000 machines. A woven factory is currently under construction in which we will produce denim and cotton twill garments. Ultimately it is our aim to have knitted woven, Zipper manufacture, and print & dye facilities, together under one roof. With our show room, sample room, and design facilities, in the same location. The buyer has full and transparent access to the way that we work. Currently the company employee over 4500 workers, within team 80 key personnel who work in the merchandising department and others key department. The founder: 01.Mohd. idris Shakur- Chairman 02.Mr. Binu K Paul- Managing Director, 03.Mr. Akhlaque Ahemed Chaudhari, Director Having trained in fashion, worked across Europ, India and Bangladesh. In the fashion trade we decided to set up our own company and together in 2003 we saw our first big order. Now we have our own factory and soon we hope to have accessories, dying and printing facilities, we’re very excited and very ambitious. Page No. 5
  11. 11. GENERAL INFORMATION Factory Name: Global Merchants Limited Address: Factory: Konabari, Gazipur, corporate Office: 18-B, Navana Tower Apartment, Gulshan-1, Dhaka, Bangladesh. Buildings: There is only one building in the premise used for production. Is the building(s) owned or rented by the Factory: Rented(but own under construction) Number of Building Levels (Stories): Main Building/Production building:- Height from ground level to roof: 20 m Highest occupied floor level:17.0 m , Stories Above grade: 7 Stories below grade: 0 Occupied levels: 7 Main Building Area: 24,500 sft Date of Building Construction: 2007 Date of Last Building Renovation/Addition: 2012 Ancillary Structures in Complex: No ancillary structures in complex. Approximate Ancillary Structures Area (SF): No ancillary structures in complex. Number of total employees: Worker appox. 4500 and others administrative staff appox. 80 1.2 Vision & Mission: Vision: To provide an all encompassing professional services that keeps pace with the fast moving fashion industry. To deliver a complete package that not only serves but exceeds the expectations of our clients. To set and maintain high quality standards in all aspects of our work, in our products and in our dealings with customers. Mission: A Mission is blueprint for success. A company mission statement describes it present business scope. GML mission is to enrich the quality of life of people through responsible application knowledge, skills and technology. GML is committed to the pursuit of excellence through world class products, innovative processes and empowered employees to provide the highest level of satisfaction to its customers.
  12. 12. Page No. 6 1.3 Product, Quality and safety: We at Global Merchants Ltd. Employee stringent quality control procedures. Trained personnel carry out tests that ensure product safety. We ensure that the raw materials and accessories used in all our products adhere not only to the customer’s requirements but also to international guidelines and laws. We also pay close attention to the environment and follow all regulations applied to this area as well as understanding labour laws and regulations. The quality control team at Global Merchants Ltd. Will ensure a strict adherence to performance and quality requirements for all goods, individual bye-lots, color approvals prior to shipment, fabric, yarns and accessories. It is our aims to provide our customers with the highest possible quality of product, thus ensuring that our customers return time and time again. 1.4 A Professional Services: Quality and consistency are key and the merchandisers over see all areas of manufacture from sample to delivery. Personnel communicate on a daily basis with both the factory and the customer. We believe that this open relation ship is key to building a sustainable business with the long term in mind. The client is kept informed through out, we work on your behalf in the local environment and only. The highest standards are accepted. 1.5 What will we do for you? : We provide a high quality product at a competitive price. Give you professional merchandising and follow up services. Bring you an excellent product mix that reflects the seasonal trends offer a complete package from sample development to labeling, packaging, shipping and logistics. 1.6 GML work team: Each customer will be assigned a merchandiser and senior manager to oversee their unique portfolio. All communication will be done together with these personnel, thus ensure consistency and clarity in the manufacture and follow up of the product.
  13. 13. Page No. 7 1.7 Core Values of the company :  Quality: Global Merchants Ltd. Always strive to provide the best possible quality for their products and services in order to meet and exceed customers expectation.  Customers Focus: Global Merchants Ltd. Main focus is always their customers. They are always to provide the finest products and services to their customers in order to attract and retain customers .  Fairness: Global Merchants Ltd. Always attempt to maintain fairness in what they do and produce. This helped them to gain customers faith and confidence and also to operate successfully in the market with their competitors.  Transparency: Global Merchants Ltd. Maintains transparency by providing the desired goods and services to their customers and sharing their goals with their employees.  Continuous Improvement: Global Merchants Ltd. always attempts to make improvements in their products and services in order to meet customer’s demands and cope with the current trend. In this way they are able to compete successfully in the market in comparison to others providing the similar kind of products and services.  Innovation: Global Merchants Ltd. strongly believes in innovation. As a result, they go for frequent research and development in order to improve and upgrade their product on a frequent basis. 1.8: Major Business: 100% export to Europe (Zara Brand, inditex) of Sweater, woven, knit, and others accessories in garments sectors. 1.9: Environmental policy: Global Merchants Ltd. Is committed to maintain the harmonious balance of our eco- system and therefore constantly seeks ways to manufacture and produce products in an eco-friendly manner so that the balance of nature remains undisturbed and the environment remains sustainable. In Pursuit of this goal, Global Merchants Ltd. Will  Comply fully with all local and national environmental regulations  Ensure appropriate communication and cooperate with internal and external interested parties on environmental issues.  Create awareness on environmental issues among our employees and suppliers.
  14. 14.  Adopt modern waste management technology . Page No. 8 1.12 Organizational Hierarchy of global Merchants Litd. Chairman Managing Director Director Chief operating officer GM- Mercha ndising Sr. Manager Manager Asst. Manager Sr. Executive . Executive GM- Commercial GM- Finance & Accounts GM-Quality Assurance GM-HR & Admin Head of Creative communicatio n GM- Planning
  15. 15. Fig: 1.2 overall organizational Hierarchy Page No. 9 1.11 Hierarchy of Global Merchants Ltd. Human Resources Department: Fig 1.3 Hierarchy of HRD Managing Director Director 1. GM- HR & Admin Manager Asst. Manager Sr. Executive-2 Executive-4
  16. 16. Page No. 10 Chapter- 2 Motivation 2.1 Definition Motivation means identified of need and want and conduction instrumental behavior to reach the goal. Motivation is the most important factor that most organizations try to adopt in the work place. It refers to the drive and effort to reach the goal. All human being running by motivation to satisfy his/her need. Motivation is a temporal land dynamic state that should not be confused with personality or emotion. In 1960 a number of psychologists (Like Maslow, Herzberg, Mcgrgor and McClelland) were advocating that managers should place a greater emphasis on the higher order need of individual (Wilson, Rechard M.S and Chua wai Fong, 1994:265) Diagrammatically,
  17. 17. Page No. 11 2.2 Source of motivation All motivation ultimately comes form within a person. In other words, all motivation is self motivation. Fremantle (2001:53) interviewed one of the team leaders at a medical-care insurance who said, “I am self motivate…. I find it stimulating when I’m doing new things I’ve never done before. I like to use my brain. I dislike doing the same things day in and day out; repetitive work”. Free mantle (2001:53) emphasizes that people are already motivated. However, differences exist because we are motivated more or less as a result of the ups and downs in life and what we encounter in the world that is beyond our control. Further more, if a person is demotivated, it is because that a persons mind chooses to be demotivated, whether consciously or subconsciously (Free mantle 2001:53). Motivation is therefore about what a person wants and about his emotional state, which drives him in the direction of achieving what he wants (Free mantle’ 2001:53) Source of motivation can be intrinsic or extrinsic (Jones & George, 2004:405). Intrinsically motivated behavior is behavior that is performed for ones own sake and extrinsically motivated behavior is performed to acquire rewards or to avoid punishment. A manager can thus try to stimulate the employees intrinsic motivation, but cannot create the intrinsic motivation for that employee. This implies that, for example, a manger should rather try to find out what factors will drive the employee to simile at customer, than simply tell the employee to smile at the customer (Fremantle, 2001:62) 2.3 Reasons for Employee’s Lack of Motivation in today’s world : Managers today complain that their employees are not longer motivated to work However, it is often the managers and organizational practices that are the problem, not the employee’s. When there is a lack of motivation, the problem usually lies in one ot the following areas: poor selection; unclear goals; an inadequate performance-appraisal system; unsatisfactory reward systems; or the managers inability to communicate the appraisal and reward systems to the employees properly(Robins, 2003:36) A lack of motivation occurs when the employees see a weakness in one of three relationship. Firstly, the relation ship between the employees effort and their performance. Manager must make sure that the employees believe that if exert maximum effort in performing their jobs, it will be recognized in their performance appraisal. However, in most cases, the employees do not believe their efforts will be recognized. If this is the case, it could lead to a lack of motivation (Robbins, 2003:36) Secondly, the relationship between the employees performance and organizational rewards is important . Managers must make sure that the employees believe that if they get a performance appraisal, it will lead to organizational rewards. Many employees se this relationship as weak because the organization does not give rewards just on their performance, so there a lack of motivation (Robbins, 2003:37) Thirdly, the important relationship is the one between the rewards received and the rewards desired. The mangers must know whether the rewards the employees receive are the ones they desire. Some employees might want a promotion but instead get a pay rise, or vice versa. Some times the managers assume that all employees want the same
  18. 18. reward and so fail to notice the motivational effects of individualizing rewards. If this is the case employees motivation is likely to suffer (Robbins, 2003:37) Page No. 12 2.4 Motivational Theories; The theories of motivation attempt to explain peoples behavior. They provide understanding to both the managers and the employees of how to motivate others; how others are trying to motivate a person; and how that person can engage mote in his/her own motivation effort and others efforts in trying to motivate him/her (Drafke & Kossen 2002:273) 2.4.1 Maslow’s Hierarchy of need theory: Maslows motivational theory is perhaps the widely used one among the motivational approaches. Here he has mentioned different levels of motivational stages (Physiological, security, social , esteem and self- actualizing) and also showed how people try to reach to the next stage after getting fulfillment form the previous stage- Here no one can reach to the next stage until he/she satisfies the previous one- Relevance of Maslows Theory of Mangers :  Beyond physical and safety need, which higher order need will emerge cannot be predicted.  A fulfilled need does not motivate an individual.  Effectives Managers can anticipate emerging needs based on individual need profile and provide opportunities for fulfillment.  The esteem level of needs satisfied by jobs and recognition provides managers with the greatest opportunity to motivate better performance. “Maslow proposed that adult has satisfied 85% of physiological needs, 70% of the safety and security needs, 50% of the belonging needs, 40% of the esteem needs but Abraham Maslows Hierarchy of Needs Higher order needs like (KMI) Lower order needs
  19. 19. only 10% of the self-actualization needs” (Wilson, Rechard M.S and Chua Wai Fong, 1994:266). If managers can recognize which level of the hierarchy an worker has reached, he or she can motivate the employees in the most appropriate way. Page No. 13 2.4.2 Herzberg’s two-factor theory Frederick Herzberg also believed that people have needs that should be satisfied within the workplace. He felt that if people had their needs satisfied they would be productive employees. Herzberg's research focused upon the activities of engineers and accountants. It resulted in his two-factor theory. Herzberg theorised that there were two influences that affected how people felt about their job. Motivators (or satisfiers) There are a number of aspects of any workplace that give individuals job satisfaction. The nature of the work itself is very important. Some individuals just love what they do. Things that satisfy people in the workplace and make them happy are:  the opportunity for personal development  achievement  recognition  promotion  levels of responsibility. Hygiene factors (dissatisfies) Hygiene factors are things that can upset employees in the workplace. They are outside the control of the individual but have a huge influence on the roles of each worker. For example:  Company policy may frustrate some employees and be viewed to some as a hindrance.  Bureaucracy or needless paperwork may be considered to be a barrier to getting a job completed.  Sometimes working conditions are not thought to be suitable.  Other factors may be poor salary or staff feeling they are not valued nor consulted. Herzberg's theory showed that managers need to attend to the motivating factors and personal development aspects to improve employee performance. They also need to ensure that hygiene factors are met or managed in order to avoid dissatisfaction in the workplace. Page No. 14
  20. 20. 2.5 Strengthening motivation Siemens managers have to balance dissatisfies against motivators. Policies and procedures that may cause dissatisfaction have to be managed. To reduce dissatisfaction, Siemens believes the best method is to raise awareness of issues with employees and encourage their involvement. They then understand and recognize the need for change. This has helped Siemens to manage change programmes. Motivators at Siemens are the factors that stimulate engineers to work in the best way possible. They enjoy the characteristics of their roles. Being empowered helps them to manage their roles and enables them to use this power to change things. Whether individuals enter the organization after they have taken their A-levels, as apprentices or as graduates, the work they undertake is stimulating. The creative nature of engineering appeals to people who like a challenge and who enjoy solving problems within a creative environment. 2.6 Importance of Motivation Motivation is a very important for an organization because of the following benefits it provides: 1. Puts human resources into action Every concern requires physical, financial and human resources to accomplish the goals. It is through motivation that the human resources can be utilized by making full use of it. This can be done by building willingness in employees to work. This will help the enterprise in securing best possible utilization of resources. 2. Improves level of efficiency of employees The level of a subordinate or a employee does not only depend upon his qualifications and abilities. For getting best of his work performance, the gap between ability and willingness has to be filled which helps in improving the level of performance of subordinates. This will result into- a. Increase in productivity, b. Reducing cost of operations, and c. Improving overall efficiency.
  21. 21. Page No. 15 3. Leads to achievement of organizational goals The goals of an enterprise can be achieved only when the following factors take place :- a. There is best possible utilization of resources, b. There is a co-operative work environment, c. The employees are goal-directed and they act in a purposive manner, d. Goals can be achieved if co-ordination and co-operation takes place simultaneously which can be effectively done through motivation. 4. Builds friendly relationship Motivation is an important factor which brings employees satisfaction. This can be done by keeping into mind and framing an incentive plan for the benefit of the employees. This could initiate the following things:  Monetary and non-monetary incentives,  Promotion opportunities for employees,  Disincentives for inefficient employees. In order to build a cordial, friendly atmosphere in a concern, the above steps should be taken by a manager. This would help in:  Effective co-operation which brings stability,  Industrial dispute and unrest in employees will reduce,  The employees will be adaptable to the changes and there will be no resistance to the change,  This will help in providing a smooth and sound concern in which individual interests will coincide with the organizational interests,  This will result in profit maximization through increased productivity. 5. Leads to stability of work force Stability of workforce is very important from the point of view of reputation and goodwill of a concern. The employees can remain loyal to the enterprise only when they have a feeling of participation in the management. The skills and efficiency of employees will always be of advantage to employees as well as employees. This will lead to a good public image in the market which will attract competent and qualified people into a concern. As it is said, “Old is gold” which suffices with the role of motivation here, the older the people, more the experience and their adjustment into a concern which can be of benefit to the enterprise. From the above discussion, we can say that motivation is an internal feeling which can be understood only by manager since he is in close contact with the employees. Needs, wants and desires are inter-related and they are the driving force to act. These needs
  22. 22. Page No. 16 can be understood by the manager and he can frame motivation plans accordingly. We can say that motivation therefore is a continuous process since motivation process is based on needs which are unlimited. The process has to be continued throughout. We can summarize by saying that motivation is important both to an individual elp him achieve his personal goals.  If an individual is motivated, he will have job satisfaction.  Motivation will help in self-development of individual.  An individual would always gain by working with a dynamic team. Similarly, motivation is important to a business as:  The more motivated the employees are, the more empowered the team is.  The more is the team work and individual employee contribution, more profitable and successful is the business.  During period of amendments, there will be more adaptability and creativity.  Motivation will lead to an optimistic and challenging attitude at work place. 2.7 Ten ways to motivate today’s employees : Successfully motivating your employees can result in improved morale, reduced turnover, and an increase in production and profits. The problem is that motivation does not come in a “one size fits all” package. Different people are motivated by different things. In other words, what motivates you will not necessarily motivate your employees. So, in order to be a successful motivator, you need to know your employees. Learn what their interests are and what is important to them. Show a genuine interest in their lives – not only will you learn more about what motivates them as individuals, you will be building a relationship with them and they will appreciate your efforts. Here are a few more tips for motivating employees 1. Set a good example. Get excited about your job! Promote a positive work environment. A good mood is infectious – wouldn’t you rather be around someone who is pleasant and smiling than someone who scowls and stomps around? 2. Establish clear expectations and goals. Meet with your employees on a regular basis to discuss their progress and provide feedback. Page No. 17
  23. 23. 3. Empower your employees. Give them a say in how they do their job. Involve them in decisions that affect them when you can. Ask for their opinion and listen to what they tell you. 4. Provide opportunities for personal development. Encourage your employees to attend seminars and trainings that interest them. Provide ongoing training. If you are not able to sponsor the training, perhaps you can help offset the expense of the classes, or give them an afternoon off to attend a conference. 5. Offer praise for a job well done. Be specific and timely – “I appreciate you staying late last Friday to complete the testing on our new component” is better than a general, “Good Job, Joe”. 6. Be flexible Consider a flex-time, telecommuting or job sharing opportunity for your employees. Give your employees some flexibility in working hours and location and chances are they will be more productive (and happier!) 7. Shake things up once in awhile. Doing the same thing day after day can be mundane. Interject a little variety into the daily grind from time to time by assigning different tasks to different people (not recommended for those employees who prefer routine!) 8. Host occasional social gatherings. Provide a breakfast break with bagels, fruit, juice & coffee. Sponsor lunch-n-learn sessions with guest speakers or trainers. Plan a Saturday afternoon cookout, or an after-hours social. Consider having management serve the refreshments or grill the burgers. Employees will get a kick out of seeing management in roles outside their norm. 9. Offer incentives. The incentives do not have to be elaborate or expensive – decide on a few tangible goals and award those who reach them with gift certificates to local businesses, tickets to the movies or sports events, treats, or themed gift baskets. Or, you can choose to do random drawings as a way to show your appreciation. Page No. 18
  24. 24. 10. Establish a bonus structure or profit-sharing plan. One of the best ways to motivate individuals is to give them an opportunity to affect their future – by establishing a bonus structure; employees can work directly toward a pre-determined goal and be financially rewarded. Likewise, you can share the company’s success with the individuals. 2.8 Different Approaches to Motivation In psychology, motivation is a very broad topic. In this post, we are going to talk about 5 different approaches to explain motivation. The instinct approach Animals, including humans are born with a set of behaviours that steer us to act a certain way so that we could produce certain ends. These are called instincts. Some of these instincts are essential to our survival. This approach suggests that we are born to be motivated. However, there are many questions that this approach cannot answer, e.g. what and how many instincts exist. The drive-reduction approach This approach suggests that our body has a tendency to act in such a way that a steady internal state is maintained. This tendency is called homeostasis. For example, if you are hungry, you are motivated to look for food to reduce your hunger drive. There are 2 types of drives: 1) Primary drives – these are related to our biological needs, e.g. hunger, thirst, etc. 2) Secondary drives – these are related to our prior experience and learning, e.g. achievement. Page No. 19
  25. 25. The arousal approach This approach came about because there were situations which the drive-reduction approach could not explain. For example, who do thrill-seekers bungee jump? Rather than trying to reduce a drive, these thrill-seekers are motivated to maintain or increase excitement. In some way, this approach is similar to the drive-reduction approach. The arousal approach to motivation suggests that if our excitement level is too high, we try to reduce it. If our excitement level is too low, we try to increase it by seeking stimulation. The incentive approach Simply put, we are motivated to get what we want. For example, students want good grades so they study hard. The cognitive approach The cognitive approach to motivation suggests that we are motivated by our thoughts, expectations and goals. There are 2 types of motivations: 1) Intrinsic motivation We do things because we enjoy doing them. For example, we exercise because it feels good to exercise. 2) Extrinsic motivation We do things because of the tangible rewards, e.g. good grades, money, etc. For example, we exercise because we want to lose weight. We should be highly motivated if we get paid to do what we love, right? This is not necessarily true because extrinsic motivation can sometimes undermine intrinsic motivation. In one study, children who really enjoyed drawing were either promised or not promised a reward for their drawing. It was found that children who were promised a reward were less likely to draw again later. Page No. 20
  26. 26. Maslow’s hierarchy of needs Abraham Maslow, a psychologist, came up with a model of motivation. The model suggests that we are motivated to satisfy our needs in a “bottom-up” manner. We first satisfy our physiological needs such as water and food. When these needs are satisfied, we move up to the second level, which is our need to be safe, and so on. Only after the needs at the lower 4 levels are met can we strive for self-actualization, which is a state of self-fulfillment. Chapter 3 Employee motivation of Global Merchants Ltd. 3.1 Requirement of motivated employees Motivate employees are needed are in our rapidly changing workplaces. Motivated employees help organizations survive. Motivated employees are more productive. To be effective, managers need to understand what motivates employees within the context of the roles they perform. Of all the functions a manager performs, motivating employees is arguably the most complex. This is due, in part, to the fact that what motivates employees’ changes constantly for example; research suggests that as employees’ income increases, money becomes less of a motivator. Also, as employees get older, interesting work becomes more of a motivator. 3.2 Role in the motivating process of Global Merchants Ltd. Global Merchants Ltd. play the most important role in motivating employees. They are responsible for tasks to be accomplished and for the workers to be satisfied and productive. GML management is the people, who have to lead the entire company. They Page No. 21
  27. 27. are responsible for setting the goals for the company and communicating it to the employees in a correct way. Supervisor must take sure that his or her information reaches workers and makes them work hard toward the goals. Managers are the leaders in the companies. Employees usually look up to them and expect to see the example of the requires model of behavior. Nevertheless, it appears to be one of the most difficult tasks for a manager to guide its employees for a long period of time. One of the first things, which a manager should do, before thinking of the ways to motivate his employees, is to examine his own approach toward the work. It is impossible to motivate someone, if one is not motivated himself. It is important for a manager to enjoy his work and feel connected and responsible towards it.Managers must understand that organizational goals are somewhat different from these of its employees. There are many things to consider before finding the best method for motivating employees. People vary greatly in their needs, and this makes it very difficult sometimes be separated in order to deter concentrate on each. In any case, whatever the employee’s goals are, they must match with those of an organization. Whenever a manager tries to identify the employees’ goals, he must examine each person separately. As was mentioned above, every person is different and needs a different approach. This be a difficult task; but it will guarantee the success of the motivating process. It is crucial to be able to talk to each worker and to get a deeper understanding of his beliefs and needs. Manager must understand what it takes for an employee to be satisfied with his work. In additional to that, motivating employees must not be considered as task or a project. It is a never-ending process, which should always be maintained and further developed. Motivating requires a lot of time and energy; however, it can be gone very easily. Person’s life constantly changes, and, consequently, so does his behavior. In order to prevent certain problem before they emerge, managers must always be flexible in their methods and approaches toward people. Finally, managers must think of the ways to reward workers for the changes performed by them. Good result must always be noticed and encouraged. It is essential for the employee to feel satisfied with his own work. It is also important for workers to feel their supervisors are satisfied with their performance. Page No. 22
  28. 28. 3.3 Motivational factors that Global Merchants Ltd. provide: 3.3.1 Financial motivators: A) Wages Often paid every week, sometimes in cash or sometimes into a bank account. It is a common way of remuneration for manual workers those who work in factories and warehouse. It can be calculated in two ways: • Piece rate: this is where the workers are paid depending on the quantity of products made. The more they make the more they get paid. This system of wages is followed where the output can be counted. • Time Rate: this payment by the hour. The longer you work the more you get paid. This system of wages is followed where the output cannot be measured. B) Salaries Salaries are paid monthly. It is common for officer and administrative staff. Additional methods of financial motivation: I. Performance Bonus: it is often paid to worker. The certain percentage of performance bonus is paid to worker who exceeds a certain level of production. It motivates the all of worker. Financial Methods Non Financial Methods Piece rates Salary BonusesPiece rates Bonuses Time rates Performa nce related Pay Job Enrichment Job Enlargement Team Working Empowe rment Job Rotation
  29. 29. Page No. 23 II. Profit sharing: Employees receive a share of the profits in addition to their basic salary. III. Bonus: Extra amount is paid to workers once a year or at intervals during the year as an appreciation of the hard work. IV. Performance related pay: Employee pay is linked to their performance in work. An appraisal is carried out for the employee and they get paid according to their appraisal. V. Share ownership: As a gesture of appreciation for the hard work of the employees a business might offer stock options to its employees. This motivates them to worker even harder because they are also the owners of the company. 3.3.2 Non-financial Motivators: These include: • Health care facilities • Company vehicle • Canteen facilities • Leave travel allowance 3.4 Employee Benefits other than financial-non financial motivating factors A) Gratuity Scheme An employee shall be eligible for gratuity on leaving the company after continuous and confirmed service according to the following terms and conditions: I. Termination on account of superannuation, ill-health, physical or mental incapacity, redundancy or termination simplifier: • Before completion of 05 (five) years’ service:1/2 month’s basic salary for each competed year of service.
  30. 30. • On completion of 10 (ten) years of service; 1 month’s basic salary for each completed year of service. • On completion of 15 (fifteen) years of service; 1.5 month’s basic salary for each completed year of service. Page No. 24 II. Voluntary resignation:  - Before completion of 7 (Seven) years of service, no gratuity is payable.  -On completion of 7 (Seven) years of service and having not completed 10 years’ service,1/2 month’s basic salary for each completed years’ service. III. In the event of death or total disablement gratuity will be paid at the rate of 1.5 months’ basic salary for each completed year of service. In case of death, the gratuity shall be paid to the legal heir/heirs.  The term basic salary, as used, means basic salary last drawn by the employee at the time of separation from the Company’s employment.  This is effective from 1st January 2005. B) Provident fund All conditions with regard to Provident Fund shall be regulated as per the Rules of the Fund. Medical Rules for All Permanent Management Staff: 1. In case of hospitalization of the staff, in any recognized hospital or clinic, the Company will reimburse 30% of the hospitalization charges, which will include bed/cabin rent, doctor’s fees and laboratory tests & medicine required during the period of hospitalization. All other charges will be borne by the staff.
  31. 31. 2. In case of surgery, the Company will reimburse 50% of the total operation charge comprising of surgeons fee, anesthetist’s & O>T. charges and cost of medicine related to the surgery. 3. Prior approval from the Head of the Business in necessary before hospitalization or surgery. The name of the patient and the name of the hospital/clinic need to be stated while taking the approval. 4. Department Heads will approve advance against surgery for staff on a case-to-case basis. 5. Expenses for Delivery under Caesarean Section will be reimbursed as per clause Reimbursement of more than two children will not be allowed. 6. These rules will be subject to modification from time at discretion of the Company. Page No. 25 C) Festival Bonus The company started payment of Festival Bonus to the Management Staff from the year 2000. There will be disbursement of an amount equal to one month’s Basic Salary of the employee on two designated festivals. Management Staffs those are in the employment of the Company for at least three months ‘after their confirmation on date of the festival Will be eligible for the Festival Bonus. The major festivals recognized are following: 1. Eid-Ul-Fitr 2. Eid-Ul-Azha 3. Durga Puja 4. Chrismas 5. Baddah Purnima All employees of the company, irrespective of their religion, will draw one Festival bonus during the time of Eid-Ul-Fitr.
  32. 32. The other Festival Bonus will be given to the Mustims employees during the time of eid ul azha .Employees other than Muslims will receive the other bonus according to their festival mentioned above. Festival Bonus will be disbursed in cash and be paid two weeks prior to the festival date. D) Tour & Traveling : a) Global Merchants Limited providing tour & traveling for staff recreation. Every year arrange a picnic for whole staff. E) Group Insurance: GML provide a group insurance who work in company minimum 05 years. 3.5 Importance of Motivation for employees 1. Motivation helps change negative attitude to positive attitude: Without motivation the employees try to perform minimum activities in the organization. But the motivation fills in the desire to perform to their maximum level. All the resources of the organization are of no use unless and until the employees use these resources. The motivated employees make best use of the resources. Page No. 26 2. Motivation improves performance level of employees: The motivation improves the efficiency level of employees which means the employees start performing the jobs to the best of their ability with minimum wastage of time and resources because motivated employees always go for best utilization of resources. The motivation bridges the gap between the ability to work and willingness to work and willingness always improves efficiency. 3. Helps in Achieving the organizational Goal. The motivated employees always try to achieve the organizational goal and contribute their best efforts for the realization of organizational goal as they know with the achievement of organizational goal only they can achieve their personal goal. All the employees contribute their efforts in one direction of accomplishment of goal. 4. Motivation creates supportive Work Environment: In motivation the relations between superior and subordinates are always improved. When the employees get their need satisfied or get the recognition and respect in the
  33. 33. organization then they always offer a supportive hand to superiors. There is more co- operation and co-ordination in the organization and all the employees work with the team spirit. 5. Motivation helps the managers to introduce changes: The motivated employees show less resistance in accepting the changes according to changes in the business environment because they know if the changes are not implement in the organization, not only the organization will by this but the employees also will find it difficult to get their fulfilled. Motivated employees are always supportive and co-operative in accepting changes in the organization. 6. Reduction in Employees’ Turnover: Motivation creates confidence in the employees to get their needs satisfied in the organization itself. They always select the alternative to remain in the organization and increase their earning rather than leaving the organization and increasing their earnings. With motivation the turnovers are because the satisfied employees never leave the job. 7. Helps to Reduce Absenteeism in the organization: In some of organizations, the rate of absenteeism is high. There are many causes for this-poor work conditions, poor relations with colleagues and superiors, no recognition in the organization, insufficient reward, etc. a manager removes all such deficiencies and workplace becomes a source of joy for them. Page No. 27 8. Reduction in Resistance to Change: New changes continue taking place in the organization. Normally workers are not prepared to accept any changes in their normal routine. Whereas it becomes essential to bring in some changes because of the demands of time.
  34. 34. Page No. 28 Chapter 4 Finding and Recommendations 4.1 Finding  GML Management intention is to retain the old employees who are dedicated to work. For that they provide or arrange to give them gold Medal after 15 years of services.  GML Management encourages firming cross functional team for any challenging situation arises. For that reason normal employees can feel the organizational pulse.  They believe that they are following the multinational culture but their working environment is not up to mark. Lower level employees are not highly motivated as they think.
  35. 35.  The opportunity for developing future leaders is welcomed. They give invention award in every year which is major motivational factor. GML management believes in open door policy. GML Beliefs, in present competitive and dynamic environment human resource department are the most valuable department than the others.  In comparison to other local companies their compensation package is competitive. They consider their skilled people as assets for their organization. GML Committed to draw the most talented and dynamic professionals from the available candidates.  Leave fare Assistance (LFA) is given as a vacation bonus to employees who are encouraged to high stressed employees to rejuvenate their mind. This is mandatory taking 4 years LFA leave.  Training and development programs of ALL include orientations, and socializations activities to inform employees about policies and procedures. They try to develop their employees with future advancement and educate them in jobs skills. GML design their job in such way, which is the right person at the right place at the right time to achieve their objective and goals.  GML follows the ranking and the Classification method for evaluating the job. For evaluating the performance appraisal GML mostly follows the rating scale method. Taking constructive steps they are trying to develop the skills of the human resource pool. Their human resource (HrD) trusts in team work and respect each other. Page No. 29 4.2 Recommendations  Increase the possibility of employee promotion in the company by promoting from within rather than hiring from the outside. Put effort in to ensuring that employee are properly credited and receive recognition for the good work they do in their respective recognition for the goods work they do in their respective positions.
  36. 36.  They should develop performance based payment for motivating employees. All employees should be treated as fairly regardless of age, race gender, family status , national origin, disability , personality , thinking style or sexual orientation  Employee motivation is essential to remain employees and improving overall productivity. In the case GML, we found the basic elements of employee motivation to remain employees and improving overall productivity.  They should build the culture and crating values in to the all management level. They should initiate the practice the MNC’s culture what they actually believe. They should take the program to encourage the lower level employees to voice compliance. They should encourage more frequent communication between managers and their employees, and implement team-building and communication exercise to help strengthen the relationship and trust between the two groups.  The following recommendations are made to the company based on the findings and conclusions of this study on employee motivation and its most influencing factors, for the purpose of enhancing the overall level of employee motivation in the company and increasing and increasing work efficiency.  There is a gap on Management development program. Management should doing the TNA in every year and identified the GAP of learning.  They should offer more opportunities for job advancement and education, in order to allow employees to completely master their respective positions. Page No. 30
  37. 37. CHAPTER 5 Conclusion Overall the Global Merchants Limited demonstrated a strong belief in providing a safe working environment. There is a shared commitment for safety across the organization and is lead by the senior management team. A Strong team needs individuals who are dedicated to giving their best at work. Highly self-motivation, committed, ambitious employees give the most to their company and get the most from their work. But if there is lacking employee motivation in the work place can be dramatic. Low team morale, lack of initiative, lack of energy, mistakes and high staff turnover are just some of the clues that motivation is an issue. People are the key resource in any organization. Everyone in every organization – no matter what the product, service of their position – has to achieve results with and through the efforts of other people. Our main premise is that in order to work effectively need to develop insight into what motivates individuals and terms to maximize their performance. Armed with the fresh perspective, we can then manage interaction with others to ensure that they work with a sense of commitment rather than merely complying with the minimum needed to get by. Page No.31 References
  38. 38. Fishers & Shaw, (2004), Human Resource Management, 5th edition, Biztrana Publishers, New Delhi. Nelson, B. 2003. The ten top ways to motivate your employees. ABA Bank Marketing,35(10)[Online] Available from: Locke, E.A. & Latham, G.P. 2004. What should we do about motivation theory? Six recommendations for the twenty-first century. Academy of Management Review, 29(3):388-403 http://proquest.umi.com/pqdlink? did=309890291&sid=1&Fmt=4&clientld=39523&RQT=309&VName=PQD Robbins, Stephen P.: Judge, Timothy A.(2010),Organizational Behavior, Pearson Education Accel-Team. 2005. Employee motivation, the organization environment and productivity: human resource management functions [Online ] Available from: http://www.accel-team.com/human_resources/hrm_00.html Druker, p., (2001), Managing in a Time of Great Change,2nd edition, McGraw-Hill Publishers, New Delhi . Others www.global-merchants.net www.google.com www.joe.org Page No. 32
  39. 39. Appendix Annexure-a People I Contacted SL.NO. NAME DESIGNATION ADDRESS 1. Mr. Jaynal Abedein GM- HR & Admin Global Merchants Ltd. 18-B, Navana tower apartment, gulshan-1, Dhaka. Cell: 01730044477 Page No. 33 Annexure-B
  40. 40. Questionnaire of Employee Motivation in Global Merchants Ltd. Name: …………………………………………. Designation: ……………………….. ……… Department: ……………………………….. Contract no: …………………………………. Please provide your honest views, avoiding overly positive and overly negative feedback. 1. Do you know what are the company's principles and mission? A . yes B . no 2. Do you think you are motivated to work? A . yes B . no 3. Which of these factors do you feel affects your ability to work? Choose one. A . Barrier B . lack of control C . competition D . cooperation E. recognition 4. What do you think will motivate you to work the most? Choose one. A . job security B . financial rewards C job satisfaction
  41. 41. . D . promotion E. awards 5. Have there been changes in the company that have affected your motivation? A . yes B . no Page No. 34 6. Do you feel that the company values you? A . yes B . no 7. Do you think the company’s present management style needs improvement? A . yes B . no C . don’t know 8. How long have you been working with the company? A . under one year B . 1-5 years C . 5-10 years D . 10 + years
  42. 42. 9. Do you think that management is creative in implementing sufficient reward systems for you? A . yes B . no 10. Does your manager/supervisor encourage open, honest two way communication? A . yes B . no Sl # Work environment Strongl y agree Agree Disag ree Strongly Disagree 1 I am treated with dignity and respected by management 2 I fully utilized my skills and abilities in the organization 3 Work assigned to me is interesting, rewarding and challenging and give me a feeling of personal accomplishment Page No. 35 4 Organization provides an environment where diverse individuals can work together effectively and happily 5 Employees have the support and authority to make decision necessary for accomplishing their assigned tasks 6 All employees are treated fairly regardless of age, race, gender, family status, veteran status, national origin, disability, personality, thinking style or sexual orientation. 7 We can exchange our views freely in the workplace 8 Work environment is overall very comfortable, friendly, and cooperative 9 I am highly motivated with the current
  43. 43. working environment of my organization 10 Overall the employee benefits I receive meet my needs 11 Organization pays for performance 12 Organization is providing me with transport allowance of facility 13 Compared to other organizations in the industry my organization has an excellent compensation and benefits package 14 I am satisfied with my compensation & benefit package 15 How would you rate the quality of service you receive when you have benefits issue, question or claim Page No. 36 ……………………………………………………………………………………………………… …………………………………………………………Comments Any Additional Comments? (Feel free to explain the reasons behind your answers to these questions and/or tell us what specific things could be done to enhance your Motivation). If you have no additional comments, please draw an X across these lines ……………………………………………………………………………………… ………………………………………………………………….. ……………………………………………………………………………………… ………………………………………………………………….. ……………………………………………………………………………………… ………………………………………………………………….. ……………………………………………………………………………………… ………………………………………………………………… ……………………………………………………………………………………… …………………………………………………………………. ……………………………………………………………………………………… …………………………………………………………………. ……………………………………………………………………………………… …………………………………………………………………. ………………………………………………………………………………………
  44. 44. Signature and Date Md. Akhtar Hossain ID No. 14DH 245 Batch: Evening III Page No. 37

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