Abstract
The purpose of this study was to determine what the motivational drives are for employees working in an investment bank and whether money plays a roll in motivating employees working for an investment bank.
The target group for this study was all the employees who have been in the employment of the target organisation for one year and longer. This group was divided into subgroups of specialist transactors and specialist support personnel. The profile of these two subgroups included a variety of ages, gender, races and educational backgrounds.
Data was collected using a questionnaire that was discussed with each employee who agreed to participate in the study.
The study clearly illustrates that money can be the primary drive for motivation to certain employees within an investment bank. When one ranks what makes the two subgroups work, it is quite clear that the ability to earn a bonus and the ability to earn more money is highest on the list of specialist transactors, whereas the specialist support personnel enjoys the culture of the bank and has to get job satisfaction to make them work. These results reflect the motivational drives of the sample group at the time of this research.
The study concludes that one of the primary motivational aspects for the subgroup of employees which was subject to the empirical study is that these employees are motivated by the mere fact that they can earn more money and a bigger bonus as well as obtaining job satisfaction and having the ability to make their own decisions.
The study discussed Maslow’s and McClellands need theories as well as various other motivational theories and approaches employers can introduce to motivate employees. Maslow’s and McClelland’s need theories were directly related to the empirical study with the view whether these two motivational theories can be applied successfully within an investment bank. Based on the results of the empirical study, the researcher came to the conclusion that both these theories can be equally successfully applied to employees working in the target organisation.
Dr. K. Stanz