THE EFFECTIVENESS OF MOTIVATIONAL STRATEGIES ON PRODUCTIVITY IN SELECTED FINANCIAL INSTITUTIONS IN INDIA

This study examined the effectiveness of motivational strategies on productivity, with reference to State Bank of India and Union Bank of India employees. The study adopted the descriptive survey research design. The findings brought to light the positive relationship between motivational strategies and employees' productivity. The result demonstrated that the financial strategies available to employees are leave allowances, bonus and fringe benefits paid when due, availability and accessibility of medical insurance, pension fund scheme and the non-financial strategies are promotion as and when due, training and friendly work environment. These strategies contribute immensely to high productivity of employees. The finding indicated that motivational strategies have significant influence on productivity of workers as it makes them to put in their best always, management uses it as a tool to motivate and increase productivity, influence workers attitude towards work done. It has an impact on the morale of the workers and helps them to put in their best. There is a significant effect of promotion, allowances and benefits of medical insurance scheme, pension fund scheme and the work environment on productivity. Motivational strategies in the workplace enhance high level of productivity. The following recommendations were made; the management needs to improve salaries, fringe benefits from time to time and improve on the working condition of workers. Also give a sense of recognition,belongingness, chance to contribute and flexibility in approaches to conflicts with the workers.