Employee Motivation and Royal Commission Findings at ANZ Bank

Employee Motivation 0
Employee Motivation
Student’s Name
9/12/2019

Employee Motivation 1
Executive Summary
The increasing competition and complexities in the business environment has developed the
need to recruit and retain the best employees and develop positive working culture. The
employee motivation shows the major part in efficiency of organization performance and
enhancement in employee productivity. However the organizations must focus on providing
intrinsic and extrinsic motivation to the employees and embracing the changes for further
growth of the business.
This report will reflect upon the factors that affects the employee motivation and the impact
of royal commission findings on employee motivation at ANZ bank. It will include the
relevant theories and models that support employee motivation and develop positive working
culture.

Employee Motivation 2
Contents
Introduction................................................................................................................................3
Employee Psychological Contract.............................................................................................4
Impact of the Royal Commission’s findings on employee motivation......................................6
Relationship between employee motivation and performance..................................................9
Factors affecting the employee motivation..............................................................................10
Recommendations....................................................................................................................11
Conclusion................................................................................................................................12
References................................................................................................................................13

Employee Motivation 3
Introduction
Employee Motivation has become the critical aspect at the workplace. It allows the
organization to increase its productivity and create positive working environment by making
the employees more committed and satisfied (Lazaroiu, 2015). The further paragraphs of the
report will focus upon the employee motivation in ANZ Bank based upon the findings from
the royal commission. The purpose of the report is to work closely with the HR Executive to
design strategies that motivate personnel (both intrinsically and extrinsically), that will result
in a corporate culture that is less dependent on financial remuneration and a culture of greed.
The additional paragraphs of the report will reflect upon the impression of royal
commission findings on employee’s psychological contract and employee motivation. It will
also highlight the association between employee motivation and performance. The further
paragraphs will include the factors that distress the motivation of employees and the
recommendations to improve it.
Employee Psychological Contract
The psychological contract was developed by behavioural theorists Chris Argyris and
Edgar Schein in the year 1960. This contract defines the association between an employee
and employer which mainly centres on mutual beliefs of inputs and outcomes. It is an
progressively pertinent aspect of workplace relationships and broader human behaviour. The
contract focuses on creating balance between the way the employer gives its employees and
what the employee places in job. This contract includes the characteristics such as Respect,
kindness, trust, understanding, fairness, impartiality. This contract is tacit and inclines to be
unseen, artificial, tacit, and informal or at best only partially vocalised (Kiazad, Kraimer &
Seibert, 2019).