The literature review conducted here is focused on the available theories and subsequent research conducted on the factors influencing motivation of senior level employees in a private bank in Sri Lanka.
The literature review suggests that motivation in an important aspect of any organization which has a direct impact in the overall performance of the organization. Essentially motivation will drive a person’s behaviour in such a particular way that will achieve organizational goals as well as individual employee’s benefits. Hence, going through the different era’s of motivational theories – that is early theories of motivation (Maslow’s Hierarchy of Needs and Herzberg Motivation/Hygiene theory) and the contemporary theories of motivation (Expectancy theory) though literature review, we have identified the common ground of motivational factors from critical point of view that influences senior level employees in the banking industry.
• Job Satisfaction
• Job Autonomy
• Job Security
• Organizational Loyalty
As per the Human Resource Management Association fair and competitive salaries, other benefits, providing sufficient progression opportunities, training of managers and superiors, clearly describe roles and responsibilities, performing of employee satisfaction surveys or focus groups, building a teamwork environment, make room for leisure and fun filled activities, providing a range of assignments, openly communicating, flexibility are few retention measures senior level employees.
As discussed in the literature review there are different theories of employee motivation. All these theories have attempted to identify different motivational factors that affect employee motivation in organizations. Based on the motivational theories in this research study and empirical findings, following factors were identified as measures that are most relevant to motivate senior level employees.