The Impact of Motivation on Retention and Engagement in the Banking Sector in Singapore

This research focuses on the impact of motivation on retention and engagement of talents in the Banking Sector in Singapore. It explores the value of motivation, its relation with engagement and retention, and suggests recommended activities for enhancing motivation. The research aims to provide insights into the factors affecting motivation in the Singaporean banking workforce and its impact on employee engagement and retention.

Running head: MOTIVATION AND EMPLOYEE ENGAGEMENT
MOTIVATION AND EMPLOYEE ENGAGEMENT
Name of the student
Name of the university
Author note

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MOTIVATION AND EMPLOYEE ENGAGEMENT
Table of Contents
1. Introduction..................................................................................................................................2
1.1 Background............................................................................................................................2
1.2 Research problem..................................................................................................................3
1.3 Research aim..........................................................................................................................5
1.4 Research objectives...............................................................................................................5
1.5 Research questions.................................................................................................................6
1.6 Research hypothesis...............................................................................................................6
2. Literature review..........................................................................................................................6
2.1 Motivation of employees and its relation with engagement and retention............................6
2.2 Impact of motivation on bank employees............................................................................12
2.3 Motivation and staff retention in the Singaporean banking sector......................................17
References......................................................................................................................................22

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Topic: The impact of motivation on retention and engagement of talents in the Banking Sector
in Singapore
1. Introduction
1.1 Background
The development of the organizations is reliant on the uninterrupted operations of the
employees on the needs of the ventures. In this elation, the collaborative operations of the
management bodies with the workforce support an organization in developing the operations and
the processes for achieving the common goals of the venture . Dar et al. (2014) stated that the
motivation from the managers support in encouraging the involvement of the employees in the
different processes that are developed by the organizations. The different modifications that are
initiated by the organization are reliant on the active involvement of the employees in the
different change processes. Therefore, the employers must design a combination of different
retention strategies for minimizing the rate of employee attrition.
The maximized involvement of the employees in the different operations of the venture I
facilitated through motivation while developing the range and quality of operations. On the other
hand, Paillé et al. (2014) opined that the maximized involvement of the employees in the
organizational decision making systems support an organization in continuing with the rate of
change readiness among the workforce. Therefore, the maximized motivation supports in
enhancing the involvement of the employees in the processes supported the venture in
developing the operations of the venture in adherence to the sustenance related needs of the
venture .

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The research will be based on identifying the impact of engagement, motivation and
retention of Talents in the Banking Sector in Singapore. The different technological innovations
that are being encountered by the global and Singaporean banking sector is specifically based on
the support of the employees through their active participation. Breevaart et al. (2014) opined
that the different changes in the banking sector are reliant on the financial service related needs
of the clients. In this relation, the collaborative operations of the organization with the
workforce supported the banking based industry in developing the capacities of the venture
while adhering to the expectations of the clients.
The amount of motivation that is provided by the employers to the employees in the
processes that are designed by the banking industry has helped the venture in enhancing the
process designs. On the other hand, Guest (2017) opined that the leadership structure of an
organization and the motivation support a venture in maximizing the rate of employee
satisfaction while operating on the modifications. Longoni, Golini and Cagliano (2014) stated
that reward and recognition programs that are initiated by the organizations support the venture
in continuing with uninterrupted operations of the workforce. On the other hand, Hassan (2016)
opined that the motivation from management supports an organizational workforce to operate
with the objective of gaining competitive benefit. In this relation, the concerned research will
identify the different factor relating to the effect of engagement and motivation of the employees
in the organizational processes on the banking sector in Singapore. Therefore, the research will
examine the effect of employee engagement and motivation on the banking processes in
Singapore.

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1.2 Research problem
The different subtle modifications that are initiated by the organizations are reliant on
needs of continuous engagement and support of the employees, which is manifested through the
motivation. Guest (2014) noted in a research survey that around 97% of the employers in the
banking sectors of Singapore have already implemented staff retention strategies for continuing
with the efficacy of the workforce.
However, He, Zhu and Zheng (2014) opined that 56% of the employers are not
optimistic of retaining talents within the next two years based on a forecast that is being
published through a survey of 150 chief financial officers (CFOs) in Singapore. On the other
hand, the relentless attitude of the employees towards the introduction of the new advisory HR
good practices for the banks resulted to the increasing rateof the staff turnover rates. The
advisory made provisions for the banks to provide consolidated training to the employees (Imran,
Maqbool and Shafique 2014). However, the relentless attitude of the employees towards the
training that is being provided by the employers has affected the potentials of the organization in
retaining the skilled talents.
Lack of satisfaction among the employees in the banking sector has affected the business
potentials in continuing with the efficacy of the operations in adherence to the demand of the
customers (Yang, Lee and Cheng 2016). The HR practices that are initiated by the
organizations are reliant on the smooth operations of the systems in adherence to the demand
of the organization. The research will identify the issues that are being faced by the Singaporean
banking sectors in engaging the employees in the different processes for sustenance. The specific
gaps in the HR process relating to training and employee empowerment through rewards and
recognitions has incapacitated the banking businesses in Singapore to retain the employees.

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Motivation to the employees supports an organization in developing the operations of the
venture in enhancing the operations in adherence to the demand of the customers. The
authoritative Singaporean culture might affect the attitude and behaviors of the employees while
restricting the businesses in deploying subtle motivation related factors, which affected the
satisfaction rate of the employees. Therefore, lack of suitable motivation has affected the rate of
engagement of the employees in the processes and retention of talents in the banking sector of
Singapore. The research will aim at developing an insight on the different factors relating to
motivation in the Singaporean banking workforce and the manner in which it affected the
engagement and retention of the employees in their respective job positions.
1.3 Research aim
The aim of undertaking the research is to identify the impact of motivation on retention
and engagement of talents in the Banking Sector in Singapore
1.4 Research objectives
The research objectives will be:
 To understand the value of motivation and the manner in which it supports engagement
and retention of the workforce
 To examine the impact of motivation on retention and engagement of employees in the
Singaporean banking industry
 To evaluate the correlation between motivation and retention or engagement of the talents
in an organization

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 To suggest recommended activities for enhancing the rate of motivation to maximize the
rate of retention and engagement in the banking sectors of Singapore
1.5 Research questions
The research questions will be:
 What is the value of motivation and how does it support engagement and retention of the
workforce?
 How does motivation affect retention and engagement of employees in the Singaporean
banking industry?
 What is the relation between motivation and staff retention or engagement of the talents
in an organization?
 What are the recommended activities that might be considered by the banking sectors of
Singapore for enhancing the rate of motivation with the purpose of maximizing the rate
of retention and engagement?
1.6 Research hypothesis
H0 – Motivation is not related to employee engagement and retention
H1 - Motivation is related to employee engagement and retention

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2. Literature review
2.1 Motivation of employees and its relation with engagement and retention
Raziq and Maulabakhsh (2015) stated that motivation plays a major role in enhancing the
operations that are undertake by the workforce. The leadership role and the approaches that are
initiated by the leaders support an organization in developing the productivity of the venture
through enhanced employee commitment towards work processes. Saleem and Khurshid (2014)
opined that the different innovative mechanisms that are implemented by the organization are
reliant on the steady support of the workforce. The motivation of the employees supports an
organization in maximizing the rate of satisfaction and commitment of the venture towards the
profitability of the venture. In this relation, the organization has taken significant steps of
communicating with the employees to identify and mitigate the issues that are encountered by
the venture .
Faisal Ahammad et al. (2015) stated that communication with the workforce does not
only supports an organizational management in keeping the venture motivated but also support
the venture in continuing with the transparency of the business operations. Transparency in the
business operations supports an organization in encouraging maximum involvement of the
employees. Involvement of the employees in the organizational processes supports an
organization in enhancing the rate of productivity. The transparency of the operations of a
business venture supports the venture in developing the processes while gaining over the trust
and confidence of the employees. In has been noted that more than 72% of the employees are
dissatisfied with the opaqueness of the operations that are initiated by the venture and the lack
of clarity in the decision making process of the ventures (Falola, Osibanjo and Ojo 2014). The
lack of logical reasoning in the organizational processes has affected the potentials of the

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employees in continuing with the efficacy of the operations in adherence to the demand of
sustenance. Therefore, most of the corporations has adopted interpersonal communication which
supported the venture in developing the trust and confidence among the employees while
operating on the different objectives.
On the other hand, Belias and Koustelios (2014) stated that the reward and recognition
programs that are designed by organizations support the venture in encouraging the employees
and motivating the venture to encounter new challenges. Empowerment of the employees
through the rewards and recognitions support an organization in valuing the individual
contribution of the employees. The different changes that are initiated by the organizations are
reliant on the uninterrupted operations of the systems in adherence to the expectation of the
employees. Kianto, Sáenz and Aramburu (2017) opined that motivated employees are more
likely to get involved in the modified processes for ensuring the enhancement in the productivity
of the venture. In this relation, the diverse changes that are initiated by the organizations are
reliant on the HRM based policies of the venture for continuing with the efficacy of the talents
and retaining the venture. The advisory of the HRM best practices supported the organizations in
identifying the concerns that are encountered by the venture for continuing with the efficacy of
the operations in adherence to the needs of the venture.
George (2015) opined that improvements in the rate of employees satisfaction supports
an organization in retaining skilled workforce. In this relation, the policies and procedures that
are designed by the organization support in enhancing the relation of the management bodies
with the employees. On the other hand, Shah, Irani and Sharif (2017) argued that the mentality
and outlook of the workforce also affects the potentials of an organization in retaining the skilled
workforce through motivation. The collaborative operations of the workforce with the

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management supports an organization in developing the efficacy of the operations. However, a
resilient workforce might affect the potentials of the organization in developing a positive
workplace culture through motivating and supporting the employees. In this relation, Sung and
Choi (2014) opined that the increasing rateof the power distance gap between the leaders and the
employees might affect the potentials of the workforce in continuing with the efficacy of the
operations. In this relation, the increasing rateof the power distance gaps affects the motivational
approach of the leaders through lack of suitable communication and guidance. The increasing
rateof the power distance gaps affects the inclusiveness of the workforce in the different
operations that are designed by the organizations.
On the other hand, Kour and Gakhar (2015) opined that the increasing rateof the power
distance gaps between the employees and the managers has affected the potentials of the
organizations in developing a synergy. The motivational approach that is being initiated by the
leaders in the organizations supports in developing the operations through empowerment of the
employees. Maheshwari et al. (2017) noted that the empowerment of the employees are mostly
based on the training and development programs that are provided by most of the organizations.
The training and development programs support the organizational leaders indentifying the work
related issues at are encountered by the employees and thereby support the venture through
suitable guidance and training with the purpose of enhance the skills of the venture .
The different developments that are initiated by the organizations are pendent on the
efficient skills of the workforce. The skilled and talented workforce supports an organization in
continuing with the standards of operations while emphasizing on the innovativeness of the
venture . On the other hand, Chahal and Kaur (2014) argued the training and development of
the employees also support an organization in retaining the workforce while mitigating the issues

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relating to job roles or contingencies. Therefore, the training and development related activities
of an organization support the venture in developing the potentials of the workforce and
motivate the venture to maximize the rate of staff retention in the organizational context.
Novokmet and Rogošić (2016) noted that the operations that are initiated by the
organizations are reliant on the uninterrupted operations of the workforce in adherence to the
sustenance based needs of the organization. Suitable communication with the employees
supports the organizational leaders in influencing the efficacy of the operations in adherence to
the demand. The reward and recognition programs along with the compensation that is provide
to the employees support the organizations in continuing with the effectiveness of the operations
in adherence to the sustenance related needs of the venture. Budhwar, Varma and Patel 92016)
opined in a research that more than 78% of the employees resign from their posts due to lack of
suitable recognition from the side of the organization or their contributions to the organizational
profitability and sustenance. Dissatisfaction among the employees might affect the potentials of
the organizations in continuing with the efficacy of the operation in adherence to the demand of
the venture.
Salampasis, Mention and Torkkeli (2015) opined that employee satisfaction supports an
organization in retaining the venture while continuing with the processes in adherence to the
innovations in the respective industries. The different aspects of change in the organizations are
reliant on the development of the workforce and retention of the venture . In this elation, the
organizations have taken steps to develop suitable operations of the venture with the aim of
encouraging the involvement of the employees in the operations. Sung and Choi (2014) opined
that the reward and recognition programs support an organization in developing healthy
competition in the workforce. It helps the management of the organizations in encouraging the

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involvement of the employees in the existing processes while developing suitable reward
programs for the achievements. Belias and Koustelios (2014) stated that the reward and
recognition programs of the organization support the venture in developing a positive workplace
culture. The development of appropriate organizational culture will support the venture in
continuing with the efficacy of the operations in adherence to the sustenance related demand of
the organizations.
Raziq and Maulabakhsh (2015) opined that the positive organizational culture supports a
organization in encouraging the workforce to engage in the processes that are designed by the
venture with the purpose of achieving a competitive benefit in the markets. Alternatively, He,
Zhu and Zheng (2014) opined that the resilience of the employees towards the process designs
affect the potentials of the organization in upholding the efficacy of the operation in adherence to
the demand of the businesses. The changes and modifications that are planned by the
organizations are reliant on the support and engagement of the employees. Imran, Maqbool
and Shafique (2014) stated in this relation that the lack of change readiness and resilience among
the employees might affect the potentials of the organizations in developing its processes as per
the modifications.
Lack of change readiness among the employees is irrespective of the motivation that is
provided by the employers through remuneration, compensation, rewards or recognitions. Falola,
Osibanjo and Ojo (2014) also opined that the lack of change readiness among the employees
might affect the potentials of the concerned organization in developing the systems in adherence
to the urgency for modification encountered the venture . However, Shah, Irani and Sharif
(2017) noted that the induction of suitable motivational approaches support an organization in
minimizing the rate of staff attrition in the organizational context. Therefore, the suitable

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motivational approach of the organizational leaders supports the venture in minimizing the
scope of employee attrition, which supports the venture in facilitating uninterrupted functions.
2.2 Impact of motivation on bank employees
The advent of globalization has transformed the relationship between the employees and
the organizations to a great extent. Lot of complexities has been emerged that increases the
employee attrition to a great extent. In this regard, the banking and financial sector is in the most
vulnerable position to deal with the escalating issue of employee turnover. The empirical studies
confirmed that there are both the innovative and traditional mode of high employee attrition
mechanism that is strictly related to the motivational practices. This literature review is trying to
define impact of employee motivation in banking industry from traditional, psychological and
innovative approaches.
Traditional motivation impact
From the research of Faisal Ahammadet al. (2015) it can be argued that the banking job
has become a lucrative occupation for the millennial generation. However, the trend of turnover
is also considered to be an important aspect for the gen-y employees. The research encompassed
a great deal of investigation in the Indonesian financial sector and found out that a clear
intervention of the paternalistic leadership as a tool to transcend motivation among the
employees. Omollo and Oloko (2015) also create a huge emphasis on the role of the leaders to
reduce employee turnover with the help of the employee motivation. The financial sectors of
Greece proved that there is huge impact of motivation on the employees and the satisfaction
level of the employees depended on the demographic characteristics. More specifically, it can be
argued that the notion of organizational culture and leadership approaches are intricately

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associated with the practice of delivering a better result for establishing motivation in the
workplace culture. From the research findings of Kamashevaet al. (2015) it can be derived that
the paternalistic leadership did not have any direct impact on the employee motivation rather it
satisfied the employees to a great extent. The paternalistic leadership tries to treat the employees
as the coworkers or colleagues not like subordinates. As a result of that the top down pressure on
the staffs is not prevalent in the organizations. It helps the employees to get motivated through
the practice of better organizational culture to perform and develop their career profoundly.
On the other hand, Nurcahyantoet al. (2018) articulated about the financial benefits of
motivation that bring more attrition rate among the employees in financial sectors. In this regard,
the knowledge of personnel management is considered to be one of the major organizational
aspect to deal with the employee motivation. Most of the financial and banking organizations are
putting emphasis on the incentive structure as a motivational tool for the employees to engage
them with the organization. The incentive structures or the financial benefits are highly
influential and bring more commitment from the employees’ ends. As a result of that the
employees feel more responsible to improve their jobs so that both their personal interests of
career development and the organizational profitability have been grown to a rapid pace.
However, there are lots of contradiction among the researchers about the impact of traditional
motivational practices among the banking employees. For instance, Chatzopoulou, Vlachvei and
Monovasilis (2015) opined that the improper motivational practices and irrelevant awards could
jeopardize the purpose of the motivation that the baking organizations are trying to impose on
the employees. While discussing the importance of gaming theory in employee motivation
Sallehet al. (2016) mentioned that lack of infrastructure for effective employee motivation leads
to a catastrophe for the banks because the employees did not feel motivated with the

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organizational activities. Moreover, Dani and Moqtaderzadeh (2016) argued that incentives as a
part of employee motivation required further introspection because of its negative impact on the
employees. For instance, Davydenkoet al. (2017) showed that the incentive practice as a tool of
motivation increased the expectation of the employees highly. As a result of that they were no
longer putting emphasis on their performance rather inclined towards their financial benefits
only.
Psychological motivation impact
The psychological impact of motivation on the banking employees is also an important
aspect nowadays due to the havoc complexities in the relationship between the employers and
employees. The research of Faisal et al. (2015) tries to find out structural perfectionism is
considered to be one of the major aspect that could drive the employees to get a typical
motivation to engage with the bank. In this regard, the research of Wojtaszek (2016) portrayed
that the theory of achievement motivation is highly related to the employees performance and it
influenced the employees to get the job done perfectly. As a result of that the payments and
financial benefits also incurs by the employees based on their merit and performances. The
achievement motivation practice is coupled with the signs of the staffs that leaves an impact on
the behavior of the employees. This psychological implication is supposed to provide a positive
energy into the staffs’ mind-set and bring out an optimistic change into their personality as well.
As a matter of fact, Sallehet al. (2016) pointed out that the achievement motivation has a strong
correlation with the components of motivation, positive and meaningful relationship with
optimism. A sense of spiritual morality is also identified as a pertinent factor coupled with high
power and divinity that leads to the high attrition in the organization. Dani and Moqtaderzadeh

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(2016) pointed out that those optimistic approaches are always beneficial for the personality
development of the employees and pushed them to carry out professionalism in their job.
Nevertheless, the effort of motivation to generate positive employee engagement and
commitment towards his company is facing a dichotomy. In fact, for the bank employees this
contradiction clearly reflects a negative aspect due to several factors. The practice of providing
incentives as a tool of motivation of the banking employees is not true entirely as there are other
factors of motivation that influence the motivation practice and control the outcome as well. For
instance, the behavior and the perception of the employees are contributed enough to focus on
the motivation of the organization due to immense presence of the personal idea and conception
about the motivation. From the research of Wojtaszek (2016) the motivational incentives create a
unequal adjustment in the employee benefit. It is true that the incentives are based on the
employee performance and the banking company is entitled to provide the employees benefits
and recognition as per their productivity and performance. However, there is difference in ability
among the employees to meet the expectation of the banking organization. From the research of
Omollo and Oloko (2015) it can be stated that profitability is the most important aspect that the
banking and financial companies are used as their employee proficiency. As a result of that the
slow learners does not have any room for to get a job and motivation in the financial sector
because it demoralizes and questions their skills and make them isolated from the rest of the
employment. Based on this understanding, the financial motivation has no direct access to the
employee engagement and high attrition rate rather it is within the employees behavior and
intention to committed with the banking organization or not.
Innovative motivation impact

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Due to huge financial crisis in the financial sector, it becomes highly important for the
banking organizations to retain its employees with the purpose of bring more efficacy into the
business practice. In this regard, the banks are started formulating new initiatives that are
important to retain high employee motivation. For example, the learning and development is a
new approach for the banking industry to utilize as a motivational tool. Encouraging the
employees to participate in the learning and development practice is considered to be an effective
tool to engage the staffs with the organizational performance. Besides this, the induction practice
bring a clear perception to understand the objectives and expectation of the bank from its
employees. As a result of that the learning and development practice provide them ample scope
to develop their skills and ability as the organization requires. On the other hand, Wojtaszek
(2016) highlighted that the work-life balance is also played a major role in motivating the
employees effectively. The international banks are started developing such practices where the
employees feel fee and homely by conducting annual ceremonies with inviting the families of the
employees. It will increase the employee attrition rate and bring more efficacy into the
organizational practices.
Nonetheless, some of the empirical evidences ventilated skepticism regarding the positive
impact of motivation on employees. Those articles directly condemned the practice of motivation
that brings issues into the organizational workforce. One of the major concern is related to the
lack of confidence in the company. As per the report of Davydenko (2017) it can be argued that
poor management and improper motivational strategies will facilitate lack of interests among the
staffs to deal with the long term planning. For the banking sector it seems a serious threat
because of the magnanimity of the business operations in banks. Moreover, the unwillingness to
professional development also damaged the process of motivating and attaining high employee

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retention. As a result of that the poor quality of the work fosters no benefits for the banking
employees and they often switch companies to get more benefits both professionally and
financially. Henceforth, the motivation in the banking sector is not possible without having
professional plan and intervention of the management effectively.
2.3 Motivation and staff retention in the Singaporean banking sector
The development of the tripartite partners in the Singaporean Banking industry has
supported in enhancing the rate of staff retention while enhancing the skills of the venture .
Chahal and Kaur (2014)opined that the development of tripartism in Singapore supported the
unions, employers and the Government in facilitating a collaborative approach for gaining a key
competitive benefit through upgradation of skills of the existing employees through training and
development. The tripartite partners are the Ministry of Manpower (MOM), the National Trades
Union Congress (NTUC) and Singapore National Employers Federation (SNEF) and the
collaborative operations of the venture is aimed at retaining the skilled talents and motivating
the employees to continue with their respective job roles.
Salampasis, Mention and Torkkeli (2015) stated in a research that the advisory for good
HR practices in the banking organizations of Singapore supported the venture in motivating the
employees to adopt to the modifications in the systems. Motivation and empowerment of the
employees through training and development has supported the venture in developing the
efficacy of the operations in adherence to the demand of the venture . However, it has been noted
in a survey that more than 10% of the banking employees have changed their jobs by the end of
fiscal year 2018 (Novokmet and Rogošić 2016).The lack of retaining the skilled employees in

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the organization supported the venture in developing the operation of the venture in adherence
to sustenance related demand of the businesses.
Shah, Irani and Sharif (2017) opined that the changes in the job responsibilities have
created utmost disappointment among the employees which resulted to the staff turnover.
Therefore, the advisory aimed at developing the sills and talents of the existing workforce with
the purpose of empower and motivate the venture or adapting the new modification in the
operating systems. The disappointment and dissatisfaction among the employees in the banking
sector of Singapore has affected the potentials the organizations in retaining the skilled
employees. The technological modifications that are initiated by the banking sector
organizations in Singapore for gaining a competitive edge is often resisted by the employees due
to lack of expertise. In this relation, Wong Keng Fye, the HR manager in Maybank Singapore
stated in an interview that the organization is taking steps to adhere to the advisory notice that is
being prepared by the tripartite partners for enhancing the training and development programs
(Falola, Osibanjo and Ojo 2014). The development of consolidated training and development
programs will support organizations in keeping the workforce motivated and focused on the
respective job role. On the other hand, Guest (2017) noted that the efficient training and
development programs will support organizations in developing the workforce also support a
organization in building adaptability among the venture . The enhanced adaptability of the
workforce supports an organization in continuing with their exploration in the field of
technological innovations through change readiness.
On the other hand, it has been found in a survey that more than 25% of the banking
workforce is dissatisfied with the changes and are resilient towards the training and development
programs that are scheduled by the organizations (Dani and Moqtaderzadeh 2016). The

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dissatisfaction among the employees and the lack of engagement of the venture in the
organizational processes affected the potentials of the venture while continuing with the efficacy
of the operations while developing resources in adherence to the demand of sustenance. The
technological innovations that are initiated by the organizations are reliant on the needs of
adhering to the competitive benefits. Kamasheva et al. (2015) noted in a research that more than
50% of the financial companies have taken steps to develop suitable training programs for
enhancing the skills of the existing employees. The enhancement of the skills of the existing
employees support the financial organizations in Singapore to motivate and increase the level of
adaptability of the workforce to the different technological innovations. On the other hand,
Wojtaszek (2016) opined that the motivation of the employees towards the innovation processes
has supported the business organizations in developing the operations in adherence to the needs
of the businesses.
The enhanced rate of motivation of the employees has supported influencing the
potentials of the ventures in developing its resources. As per the case of the banking industry in
Singapore, the adherence to the advisory policy of HR good practices has supported in the
development of different training programs for empowering the growth and development of the
employees. Omollo and Oloko (2015) noted that the development of the different practices in the
organizational processes are reliant on the support and change readiness among the employees.
Therefore, training and development related operations of a venture support the venture in
continuing with the operation in adherence to the sustenance related objectives of the venture.
However, Chatzopoulou, Vlachvei and Monovasilis (2015) noted in a research that the
resilience of the Singaporean banking employees affected the potentials of the ventures in
developing a positive workplace environment. On the other hand, Yang, Lee and Cheng (2016)

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noted that the authoritative form of governance in the Singaporean banking sector has affected
the potentials of the businesses in encouraging the involvement of the employees in the modified
processes. In this relation, the increasing rateof the staff turnover rates has affected the
knowledge management potentials of the organizations.
Alternatively, Faisal Ahammad et al. (2015) stated that the authoritative governance
structure of the financial organizations in the Singaporean banking sector has affected the
potentials of the venture in communicating with the employees, which has resulted to increasing
ratein the power- distance gap. The increasing rateof power- distance gap has affected the
collaborative operations of the management with the workforce while challenging the
motivation related factors. Sung and Choi (2014) opined that although 50% of the banking
employers has take steps o adhere to the advisory for training the existing talents in the industry,
the authoritative governance structure affected the potentials of the organizations in developing a
suitable resource base for continuing with the collaborative operations with the employees. The
resilience that is being encountered by the organizations from the side if the employees affected
the potentials of the venture in continuing with the efficacy of the operations while adhering to
the sustainable change related objectives. Kour and Gakhar (2015) opined that employee
retention plays a important role in continuing with the efficacy of the operations in an
organization through retaining knowledge and skills. However, the lack of suitable management
of power has affected the potentialities the organizations in developing its operations. The lack
of suitable communication with the stakeholders and inclusiveness in the approach of leadership
has affected the potentials of the organizations in retaining the workforce while motivating the
venture through sufficient training and development.

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Salampasis, Mention and Torkkeli (2015) noted that the different modifications that are
initiated by the organizations are reliant on the active engagement and support of the workforce.
Therefore, in this relation, the banking sectors in Singapore are affected through the lack of
suitable governance mechanisms. The lack of suitable governance mechanisms has resulted to
the lack of retention of the employees in the divisions apart from the training and development
related initiatives that are considered the banks. Guest (2017) opined that the different
modifications that are undertake by the banking sectors in Singapore is based on continuing with
the efficacy of the skilled employees in adherence to the subtle modifications in the processes.
However, the lack of appropriate governance mechanisms has affected the potentials of the
organizations in the banking sector to motivate and encourage the maximum involvement of the
employees in the different processes that are designed by the ventures. Therefore, it might be
stated that the leadership role and approach plays a major role in developing the inclusiveness of
the operations while motivating and encouraging the workforce to get involved in the processes.
On the other hand, the motivation of the employees will also support ventures un minimizing the
rate of staff attrition in the Singaporean financial sector’s context

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MOTIVATION AND EMPLOYEE ENGAGEMENT
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