Impact of Motivation on Employee Retention in Barclays

This dissertation explores the impact of motivation schemes on employee retention in Barclays. It examines the effect of rewards and incentives, challenges faced by managers, and strategies for building attractive rewards. The study uses qualitative research methods and thematic analysis.

Dissertation
(Impact of motivation of employee
retention)
1

ABSTRACT
The main idea of carrying out this research is that it helps in developing an understanding
about the concept of motivation schemes and employee retention within the workplace. In the
present research, the researcher has focused on addressing following objectives such to study the
basic meaning of employee retention and motivation schemes, to determine the effect of
effective rewards and incentives motivation schemes for employees retention, to examine the
challenges faced by managers while implementing certain rewards and incentives and to identify
strategies for building attractive rewards and incentives that helps in motivating employees. The
researcher has also used qualitative research method for gathering authentic and reliable
information relate to the research topic. This information is collected by using secondary sources
with the help of thematic analysis effectively.
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Table of Contents
ABSTRACT.....................................................................................................................................2
CHAPTER 1: INTRODUCTION....................................................................................................5
Background of the topic ..............................................................................................................5
Overview of the company ...........................................................................................................5
Research topic: ............................................................................................................................6
Research aim, objectives and questions.......................................................................................6
Rationale of the research .............................................................................................................7
Significance of the research.........................................................................................................7
Summary......................................................................................................................................8
CHAPTER 2: LITERATURE REVIEW.........................................................................................9
Introduction..................................................................................................................................9
What do you understand the basic concept of motivation schemes and employee retention?....9
What is the impact of rewarding and incentives motivation scheme for retaining employees
within Barclays?.........................................................................................................................10
What are the challenges faced by managers while setting up rewarding and incentives
motivation scheme within Barclays?.........................................................................................12
Different types of rewards and incentives schemes that helps in motivating employees of
Barclays......................................................................................................................................14
Summary....................................................................................................................................15
CHAPTER 3: RESEARCH METHODOLOGY...........................................................................16
Introduction................................................................................................................................16
Summary....................................................................................................................................20
CHAPTER 4: DATA ANALYSIS AND FINDINGS...................................................................21
Introduction................................................................................................................................21
Summary....................................................................................................................................26
CHAPTER 5: CONCLUSION AND RECOMMENDATION.....................................................27
Introduction................................................................................................................................27
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Summary....................................................................................................................................29
REFERENCES .............................................................................................................................30
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CHAPTER 1: INTRODUCTION
The introduction chapter mainly helps in defining about the topic in an effective and detailed
manner so that the further research can be carried out in a proper way.
Background of the topic
The research is conducted on identifying the importance of motivation schemes on the
retention of employees within the company. Motivational schemes are considered as a most
important factor that helps in increasing the level of motivation and moral among employees of
the company is that they work with confidence and dedication (Waclawska, 2018). Highly
motivated employees tend to be more productive and efficient in performing the given task and
helps in achieving the desired objectives and goals of the organization. Motivation scheme is
generally used for driving the behavioral changes within the company and this can be of many
types such as recognition and rewards, training and development, growth opportunities, engaging
employees in the activities of the business. It is important for the company to motivate their
employees in an effective manner in order to increase their level of performance and
productivity. Employees are the most important asset of the company that helps in fulfilling the
predetermined goals of the company and for this motivation is very important so that they get
retained within the business for long period of time (AZERE, 2019). Motivation schemes are the
key source for the company as it helps in gaining the confidence and satisfaction of employees
by providing those rewards for their good performance and efforts.
Overview of the company
The selected organization in the research is Barclays which is considered as a British
universal bank, headquartered in London and was founded in 1690. The main objective of this
bank is to provide support to small businesses and consumers by the retail services and larger
businesses. The bank generally operates its business operations as two divisions and that is
Barclays International and Barclays UK which is supported by the service company called
Barclays execution services (Barnes and Newton, 2020). Barclays ranks top 50 among other
competitor companies which results in dealing with the competitiveness and in retaining more
number of customers. The bank mainly operates different type of products such as investment
banking, retail banking, private banking, commercial banking and many more which are offered
to the customers in order to get huge investments in return. It provides a clear picture about the
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work they do and how they do in order to get more and more customers to get retained with in
the business. Barclays has also listed on the London Stock Exchange as primary and is
considered as an important element of the FTSE 100 index. The bank mainly comprises the retail
banking operations of British, wealth management business, business related to consumer credit
card and corporate banking for small size and medium size UK businesses (Kyeremeh, Prempeh
and Afful Forson, 2019). It also consists of Barclays Investment and Corporate bank and
consumer related cards and payment businesses in order to provide effective and productive
services to the customers.
Research topic:
The importance of rewarding and incentives motivation scheme in retention of talent in
the workplace.
Research aim, objectives and questions
Research Aim:
“To investigate the importance of rewarding and incentives motivation scheme in
retention of talent in the workplace.” A study on Barclays.
Research Objectives:
 To understand the basic concept of motivation schemes and employee retention.
 To determine the impact of rewarding and incentives motivation scheme for retaining
employees within Barclays.
 To identify the challenges faced by managers while setting up rewarding and incentives
motivation scheme within Barclays.
 To analyse the different types of rewards and incentives schemes that helps in motivating
employees of Barclays
Research questions:
 What do you understand the basic concept of motivation schemes and employee
retention?
 What is the impact of rewarding and incentives motivation scheme for retaining
employees within Barclays?
 What are the challenges faced by managers while setting up rewarding and incentives
motivation scheme within Barclays?
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 What are the types of rewards and incentives schemes that helps in motivating employees
of Barclays?
Rationale of the research
The main purpose of conducting this research is that motivation helps the organization in
achieving overall growth and success in the highly competitive market by retaining employees
within the business. Motivation scheme plays a very important role in the company as it helps in
enhancing the performance of employees in order to achieve the desired aims and objectives of
the business (Al-Azawei and Alowayr, 2020). The main idea of conducting this research is to
identify the impact of motivation schemes in retaining the employees of the company for more
period of time. Motivation is the most important factor that helps in building the working
capability and efficiency of employees for gaining high growth and success in the business
market. Motivation scheme are the effective source of getting employees feel appreciated and
recognized for their good and hard work that they put for achieving success in the competitive
market (Chen, Guo and Wen, 2021). This following research is helpful in fulfilling two types of
objectives which are defined as personal and professional objective. In context of personal
objective, the researcher will gain more knowledge and develop skills about the research topic in
an effective and efficient manner. In context of professional objective, the research will help
other researcher in conducting future research properly.
Significance of the research
The research topic is quite significant in gaining optimum knowledge about motivation
schemes as it helps in increasing the morale of employees to get engaged in the activities of the
business effectively. It is very important for the company to develop productive motivation
schemes for employees that helps in increasing their working capability to attain the goals of the
business for high success and profitability (Rivaldo, 2021). This helps the researcher in
evaluating all the detailed information about the chosen research topic in a reliable and valuable
manner. The researcher chooses several types of research methodologies to carry out the research
in a smooth and effective way. This skill and knowledge helps in gathering information and data
and also helps in identifying the weaknesses and strengths of the researcher for carrying the
future research appropriately. In order to sustain the competitive environment, it is necessary for
the company to train and develop their employees in a proper manner so that employees feel
confident and dedicated in gaining high profitability (Roychowdhury, 2018). This research is
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also helpful for students as it helps in increasing their knowledge about the topic motivation and
which raises their academic career. It also helps others researchers in carrying out the research on
the same topic effectively and efficiently and will use authentic information.
Summary
It is summarised from the above collected information that the researcher has provided an
overview about the topic, about the organisation. The researcher has also set up certain research
aim, objectives and questions, rationale of the research and significance about the research so
that effective information can be acquired.
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CHAPTER 2: LITERATURE REVIEW
Introduction
Literature review is an important part of the research that helps in providing an summarised
information related to the research objectives with the help of published sources such as articles,
magazines, journals and many more.
What do you understand the basic concept of motivation schemes and employee retention?
As per the view of Nesbit, Christensen and Brudney (2018), motivation plays a very
important role for enhancing the performance and productivity of employees in order to gain
high growth and profitability in the competitive market. It is the responsibility of the leader to
motivate its staff members in order to achieve the business goals and objectives. Retaining
employees in the company is most important because it helps in utilising the resources optimally
and for increasing their working capability. Motivation scheme helps in boosting the productivity
and engagement among employees in order to gain high share in the market and in attaining
more number of customers for buying the particular products and services offered. Every
company needs to employ attractive motivation schemes for employees which help in enhancing
the operations of the business organisation. The employees of the company are considered as the
main asset who is responsible for accomplishing the given tasks in an effective manner.
Employee retention can be defined as a process of showing the ability of the company to prevent
turnover of employees, or on the number of persons who leave their jobs in a certain period of
time, either involuntarily or voluntarily. Increasing the retention of employees has a direct
impact on the performance and success of the business. Retaining employees within the company
helps in keeping the talented people in the business so that they achieve the predetermined aims
and objectives in the competitive market (Das, Rangarajan and Dutta, 2020). Employee always
wants to work in that working environment where they feel safe and secure while performing the
activities of the business and for this it is important for the leaders of the company to create a
positive working culture for them.
Motivation schemes are of different types and works as a motivating factor for employees
for their hard work and efforts they do for achieving growth in the business market. Providing
rewards for their good work is a very important factor that helps in boosting their working
capability and makes them happy and motivated to work in the company for long period of time.
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It is the leader who train and guide employees of the company in the right direction so that they
understand their roles and responsibilities about their job role (Das, Rangarajan and Dutta, 2020).
When employees are trained and developed in the right manner than they get attached with the
business activities more and look for high personal growth in the business so that they get high
satisfaction. Rewarding can be monetary and non-monetary which helps in increasing the morale
of employees working in the company. Monetary rewards mainly includes increment, bonuses,
appraisal and many more whereas non-monetary rewards mainly includes promotion, awards,
gifts, recognition and many more that helps in building motivation of employees. In order to
engage employees in taking part in the activities of the business and in taking decisions
regarding company betterment, it is important for the company to adopt motivation schemes.
This results in motivating them towards accomplishing the personal and professional goals of the
organisation. It is the main responsibility of the leaders to send gifts, emails for their good
performance so that they feel appreciated and rewarded for their hard efforts and this also helps
in building a strong relationship among employers and employees working in the company.
Offering growth opportunities to employee’s works as a motivating factor for employees as this
helps in enhancing their analytical thinking skills for doing more hard work for achieving the
higher position in the business organisation (Grobelna, 2018). Listening to the problems and
issues of employees is very necessary as that helps in giving them a sense of satisfaction that
their issues are addressed by their senior members and motivates them to give their best for
achieving the goals. Thus, motivating staff members is the only solution for developing their
skills and knowledge for gaining growth in future and for attaining the sustainability from other
competitor companies that exists in the business market.
What is the impact of rewarding and incentives motivation scheme for retaining employees
within Barclays?
As per the view of Caruth (2018), rewarding and providing incentives to the employees of
the company helps in retaining and engaging them in the business for more period of time.
Highly engaged employees are more productive as compared to less engaged employees because
they work with high motivation and dedication to achieve the predetermined objectives of the
company. Providing rewards and incentives to the employees impacts their productivity and
performance in a positive manner and this helps in building their morale and motivation.
Motivation schemes can be of many types and they are defined as training and development,
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rewards and recognition, engaging employees and many more for better attainment of goals and
objectives of Barclays. This helps in reducing employee turnover and in retaining talented
employees in the organisation for longer period of time which results in attaining high growth
rate in the business market (Chinyio, Suresh and Salisu, 2018). Rewarding is the best factor that
help in engaging employees in taking part in decision making process and in gaining high share
in the market and large number of customers. There are several benefits that help the company
that motivation schemes provide to the employees and are defined below:
 Increases productivity and performance – Providing rewards and incentives to
employees of Barclays helps in enhancing their performance and productivity which
results in gaining success in the highly competitive environment (Kobia, 2021). Barclays
provide effective and attractive rewards to the employees of the company in order to
more profitability in the market and for gaining high customer loyalty and experience.
 Enhanced employee engagement – When employees are treated in a proper manner and
when they are guided and supported in their work profile helps in making them feel
highly satisfied and engaged. Barclays focus on their employees to engage them in
business activities so that they work effectively and efficiently for achieving the goals
and objectives of the business. Highly engaged employees are highly motivated to work
in a positive manner in employing more productivity (Saif and Siddiqui, 2019).
 Make employees feel happy – Happy employees are comparatively more productive and
contribute in the success of the business more efficiently and effectively (Chiat and
Panatik, 2019). When morale of employees is high. Barclays employee turnover is low
and the business has a huge chance to hit large targets and to increase the growth level in
the competitive environment. It is important for the company leaders to employ attractive
rewards and high incentives in order to earn high productivity and employees overall
performance.
 Build a positive working environment – Barclays managers mainly focus on creating a
positive working environment for employees where they feel satisfied and motivated to
contribute in the overall growth of the company. Feeling valued and appreciated by
providing effective rewards to employees helps in increasing their working efficiency and
effectiveness to perform in the competitive business world (Daudi, 2021). Building a
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positive working culture impacts the money that they put in the company and in the
people who work there.
 Decreases employee turnover – Employee turnover is generally costly and retention of
talented employees for longer period of time helps in cutting down the cost and results in
achieving organisational growth. It is important for Barclays to focus on hiring
employees for different job profiles so that new type of employees can be gained in the
company in order to reduce the employee turnover an in increasing the retention of
employees. This helps in attracting employees within the company for longer period of
time as they get full chance to take part in the process of decision making so that they
gain profitability and success in the business market (Azim, 2020).
 Helps in recruiting new talent – It is the responsibility of the managers of Barclays to
focus on recruiting new employees in the company by giving those attractive offers and
incentives while engaging work in the business. It is important for the company to show
effective and strong relationship among the employees and employers of the company.
By doing this the bank will able to provide valuable services to customers and for
retaining them for longer time period (Okpebholo and Sheikh, 2020).
What are the challenges faced by managers while setting up rewarding and incentives motivation
scheme within Barclays?
As per the view of Lillis, Malina and Mundy (2022), setting up rewarding and incentives
related motivation schemes within Barclays helps is quite difficult as it requires so much
planning in order to retain them in the company for time period. Rewards and incentives are the
key elements that help in increasing the motivation and morale of employees to work more
efficiently and productively to attain high customer base and market share in the competitive
market. But selecting right type rewards for the right type of employee is difficult for Barclays to
decide and this brings several challenges for the business. It is important for the company to
retain employees in the company by engaging them in interesting activities for better growth and
development in the business market. Appreciating employees for their best performance is very
important as it motivates them to work more hard for achieving the desired aims of the business
organisation. It is necessary for Barclays to take care of their employees so that they work with
high confidence and dedication within the organisation for achieving high success and growth in
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the competitive market. Rewards and incentives work as a motivating factor for employees in the
company which drives them to work more efficiently and effectively towards gaining the desired
goals and objectives in the business market (Scekic, Nastic and Dustdar, 2018). For improving
the performance of employees, it is necessary for the company to create a healthy and positive
working environment. Rewards helps in increasing the morale and motivation of employees to
work in a more better way for increased productivity. Selecting the best type of rewards for the
employees is difficult for the managers of the company to decide and this requires more
knowledge about the working behaviour of the employees and what can motivate them to
perform well in the business. There are different types of challenges that the company face and
they are defined below:
 Different expectations of employees – Every employee has different expectations from
the company and every person has different behaviour and thoughts who are working in
the business (Yang and Tang, 2018). This is considered as a major challenge for Barclays
and this becomes difficult for the managers to decide the bright type of incentive and
reward the employees. It is necessary for the company managers to understand the nature
of employees so that they remain motivated for achieving the set objectives.
 High budget required – For providing attractive rewards and incentives to employees of
Barclays, the company managers needs to focus on managing the budget so that it can be
attained within the company in a better way. Sometimes out of budget situation creates a
huge challenge for the company that hinders the growth and success in the competitive
marke (Shoaib and Baruch, 2019). Employees are the main asset of the company which
brings new ideas and creativity for improving the working culture of the business.
Rewards can be two types it can be monetary also and non-monetary also and for this it is
important for the company to set the amount of budget in a proper manner which helps in
motivating the employees in an effective manner.
 Rewards not linked to performance of employees – After receiving the good amount
of rewards and incentives from the company, the employees do not work on that
efficiency level and fails to achieve the predetermined goals and objectives (Luo, Hong
and Ding, 2019). It is important for Barclays to take care about the employees well-being
so that they feel valued and important while working for the business. Developing clear
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expectations, defining achievable goals and implementing a suitable measurement system
helps in creating a positive working environment for employees.
 Not retaining talented employees – Retaining employees within Barclays after
providing suitable rewards as incentives to the employees is considered as a major
challenge that they face. Talented employees helps the company in achieving the aims
and objectives of the company in a more precise manner and results in increasing their
growth and profitability (Lapuente and Van de Walle, 2020). With the high competition
prevailing in the business market and to achieve success, it is important for the company
managers to provide rewards for their best performance so that work with high efficiency
and effectiveness.
Different types of rewards and incentives schemes that helps in motivating employees of
Barclays
As per the view of Kang and Lee (2021), there are different types of rewards and
incentives that help managers in motivating employees of Barclays in an effective manner.
Motivation is an important factor that helps in increasing the working efficiency and
effectiveness of employees for achieving the predetermined goals and objectives of the business.
Giving attractive rewards and incentives to employees by the company managers helps in
dealing with the market competitiveness in a reliable and efficient manner. Rewards are the basic
element that helps in encouraging and motivating employees in the right direction for attaining
higher growth and success in the competitive business environment. The following rewards and
incentives are defined as under:
 Flexible working – Providing employees with the facility of flexible working is helpful
in improving their working efficiency and capability to achieve the set aim and objectives
of the company (Meslec and et. al., 2020). This is considered to be an effective reward
that results in giving work from facility to employees so that they acquire more and more
number of customers in the business. This is helps in satisfying employees to stay in the
business for more period of time and in dealing with the competitiveness present in the
business effectively.
 Providing recognition to employees – Recognising employees by their good work is the
most effective reward that employers can provide to their employees for motivating and
inspiring them. It is important for the employer to understand their employees properly so
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that fulfil their needs and wants in a proper manner and for providing them maximum
satisfaction (Kang and et. al., 2019). This helps in developing high growth and success in
the business as they get to know more reliance on the market so that they affect on the
performance in a positive manner.
 Promotion and appraisal – Giving promotion to employees is a positive factor that
results in motivating employees working in the business. Employees are the main asset of
the business which helps in achieving high growth and success in the competitive market
(Jurburg and et. al., 2019). Providing promotion and appraisal to employees who work
hard and focus on developing more growth opportunities for the business tends to be
more productive and efficient for staying within the business for more period of time.
 Health and wellness – Employees can not perform effectively if they are unhealthy and
are getting positive working environment in the business. For addressing this issue it is
important for the manager of the company to provide wellness incentives for promoting
mental and physical health (Toyoda and Zhang, 2019). One of the best criteria for
encouraging employee wellness is by using productive rewards that helps in promoting
healthy habits for work and home. This helps in keeping employees motivated for doing
the work properly and for analysing each and every aspect for developing and acquiring
more growth in the competitive market.
These are some of the rewards and incentives that helps an organisation in keeping their talented
and skilled employees motivated and inspired for carrying out the business operations for more
period of time appropriately.
Summary
It has been summarised from the above collected information from the literature review is
that rewards and incentives are considered as an important part of the business organisation
because it helps in motivating and encouraging employees to stay for long period of time.
Providing rewards and incentives helps in impacting the the business in a positive manner and
helps in improving employee performance and productivity so that they work hard for better
customer experience.
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CHAPTER 3: RESEARCH METHODOLOGY
Introduction
Research methodology includes different techniques and methods which are implemented
by the researcher for identifying, selecting, analysing and evaluating the information in
significant manner. This section assists the researcher to evaluate the reliability and validity of
the collected information. Through this chapter, researcher can identify the ways by which they
can gather and accumulate the information related to the proposed study.
There are different methods of research are used including philosophy, choice, approach,
time horizon, data collection, design and many others (Apuke, 2017). These techniques play a
vital role in collecting and analysing the relevant information related to the chosen topic. With
the help of these research methodologies, researcher can complete the investigation on the
current topic i.e. importance of rewarding and incentives motivation scheme in retention of talent
in the workplace. Investigator will select the research methods on the basis of the need and
requirement of the research so that aims and objective can be achieved in effective and efficient
manner. Therefore, research methodology generally provides a plan to the researcher which they
have to follow in order to carry out the research in better manner. In order to elaborate more
about the research methodology, Saunders research onion framework is used within this
research.
Research Philosophy:
Research philosophy is a research technique which helps investigator to examine and
evaluate the data related to the current investigation. It includes certain belief and principle
which researcher needs to follow while collecting the information related to the chosen topic.
Through using research philosophy method, investigator can manage the set of principles and
values related to the proposed study. The method is classified into two different forms such as
positivism and interpretivism philosophy. Positivism philosophy is a method which provides
numeric information related to the subject matter. Interpretivism philosophy is a process of
collecting qualitative information in significant way that provides in-depth knowledge about the
relevant topic. According to the need of the investigation, researcher laid emphasis on choosing
interpretivism philosophy as it gathers the subjective information in a detailed manner (Babones,
2016). The reason behind choosing interpretevism philosophy is that it focuses on evaluating
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theoretical data and also ensures that the information must be gathered in general pattern and
trend of the proposed study. Interpretivism philosophy generally provides qualitative piece of
information due to which the aim and objectives of the research can be achieved in systematic
manner. Researcher has not focuses on choosing positivism philosophy as it consist of
quantitative facts and figures due to which it becomes challenging for the researcher to complete
the investigation in appropriate manner.
Research Strategy:
Research Strategy is another method of research which is used by the investigator for
collecting the information in systematic way. It is the process of managing the research work in
better way due to which the judgement related to study can be made in effective and efficient
manner. The method is categorised into different types they are systematic literature review,
survey, case study, focused group, experimental research and many others. According to the
need of the research, researcher chooses systematic literature review strategy as it provides
qualitative information in effective manner. The purpose behind choosing systematic literature
review strategy is that it gathers qualitative information through different authentic sites (Opoku,
Ahmed and Akotia, 2016). This strategy is cost effective due to which researcher can attain the
research aim and objectives in better manner. Through literature review strategy, investigator can
gather secondary information from the different online sites and identify their perspective
regarding the topic. The chosen strategy have different opinion and perspective related to the
chosen study i.e. importance of rewarding and incentives motivation scheme in retention of
talent in the workplace. Systematic literature review strategy is considered as one of the
economic method as it is reliable in nature and also helps in attaining the research objectives in
effective and efficient manner. Thus, Systematic literature review strategy is effective method for
collecting the information related to the current study as it focuses on developing the capabilities
of the investigation and also manages the investigation in systematic way.
Research choice:
Research choice is considered as one of the important research method which helps
researcher to manage the research in appropriate manner. This method generally assists the
investigator to identify the types of information required to be collected for completing the
research. Research choice is categorised into two different types such as qualitative and
quantitative research choice (Dźwigoł and Dźwigoł-Barosz, 2018). Qualitative research choice
17

focuses on managing the investigation in depth manner due to which the research topic can be
clearly examine. Quantitative research choice manages the research in statistical manner due to
which numerical outcomes can be undertaken (Fryer, Larson-Hall and Stewart, 2018). In the
current study, researcher has shown dependence on qualitative research choice as it accumulates
the information in the detailed manner. The reason behind selecting qualitative research choice is
that evaluates the information in better and quicker manner. Through qualitative research choice,
investigator can accumulate subjective information within less period of time and in cost
effective way. By using this method, researcher can gain benefit as it mainly focuses on gaining
proper knowledge about the topic in a proper manner.
Research approach:
Research approach is considered as one of the vital research method which focuses on
evaluating and analysing the information related to the chosen study in appropriate manner. It
mainly includes the broad assumptions related to methods of the interpretation, analysis and data
collection. There are mainly two different types of research approach such as inductive and
deductive. The current investigation focuses on choosing inductive approach as it is based on
qualitative research method which is beneficial for this investigation (Walker, Lin and McCline,
2018). Inductive approach is chosen by the researcher as it helps in drawing conclusions about
the topic and also results in developing the theories in a precise manner. It is cost effective in
nature and also provides relevant information related to subject matter. Researcher uses inductive
approach as it focuses on testing new theory rather than focusing on existing theories. Through
using inductive approach, researcher can avail final results which help in attaining research aim
and objective in better manner.
Data collection:
Data collection is one of the effective techniques of collecting, analysing and measuring
the data related to the chosen study. The two different kinds of data collection method are
primary data and secondary data collection method. Primary data collection method is one of the
techniques of collecting fresh data related to the proposed study whereas secondary data
collection method is a process of collecting second hand information related to the chosen topic.
According to the need of the current investigation, secondary method is used by the researcher in
order to complete the further research (Mackey and Bryfonski, 2018). For gathering the
secondary information, investigator has lay emphasis on choosing right article or journal so that
18

they can avail the information from several research papers. The reason behind choosing
secondary research method is that it provides information in a summarised manner but it also has
drawback of not getting reliable information about the research questions the way they want.
Secondary data collection method also focuses on providing clear results due to which research
aim and objective can be attained in clear manner. Different secondary sources which are used
by researcher for availing the information are articles, journals, newspaper and many others.
Data analysis:
Data analysis can be defined as an effective method that helps in deriving positive results
in order to complete the research in a reliable manner. It can be defined as a process of applying
all the logical or statistical techniques in a systematic manner for describing and illustrating,
condensing and evaluating information. Data analysis are of different types which are defined as
frequency distribution, thematic analysis and so on. Frequency distribution analysis can be
defined as an organised graphical representation of the different individuals about the research
topic (VanKooten, 2019). Thematic analysis can be defined as an important method for
analysing qualitative information that mainly emphasises on determining, evaluating and
interpreting different patterns. In carrying out the current investigation in a proper manner, the
investigator has selected thematic analysis method. Thematic analysis method is chosen by the
investigator because it helps in describing the data on the research topic in a more reliable and
detailed manner. This method is suitable for analysing information on large qualitative set of
data on the given topic so that research aim and objectives can be determined and achieved in an
effective manner.
Ethical consideration:
There are various ethical practices which must be followed by the researcher while
conducting the investigation as it doesn’t affect the sentiments and emotions of participants.
Ethical consideration is important for the investigator as it helps in completing the single task in
systematic manner. The different ethical practices which investigator must follow are informed
consent, decreasing risk of harming people, confidentiality of information, anonymity of the
research respondents and avoiding of deceptive practices (Patterson, 2019). It is necessary for the
researcher to take the permission of the respondents while collecting the information so that they
can contribute their best while answering the questions.
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Summary
It has been concluded from this particular section is that the researcher has focused on
using qualitative approach for carrying out the research in an effective and proper manner. The
researcher has used secondary data for collecting information related to the topic with the help of
literature review.
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CHAPTER 4: DATA ANALYSIS AND FINDINGS
Introduction
This chapter helps in providing summarised information with the themes on the basis of all the
research objectives.
Theme 1: Basic concept of motivation schemes and employee retention
As per the above gathered information from the literature review is that motivation plays
a significant role in an organisation as it helps in improving the working efficiency and
capability of employees. Motivation schemes mainly helps in motivating and inspiring
employees for attaining the business goals and objectives in an effective manner. It is the
responsibility of the company leaders to take proper care of their employees so that they deal
with the market competitiveness in an efficient way (Morton, 2018). Motivation schemes and
employee performance are interrelated because the high the motivation the good is the
performance of an employee. Employees are the most efficient asset of the company as it helps
in delivering better results and outcomes by their performance in the competitive business
environment. It the business leaders that guide and train employees for performing the activities
of the business in a proper manner so that they gain the predetermined aim and objectives of the
business (Ng, Yam and Aguinis, 2019). Motivation schemes mainly helps in enhancing the
productivity and profitability of the business organisation as employees are better in attaining the
business goals in a proper manner. Highly motivated employees are more productive and capable
in achieving high growth and profitability within the business organisation. Motivation also
helps in retaining employees within the business organisation which results in reducing the
employee turnover and in utilising the business resources in an optimum manner. Motivation
schemes are of different types which are defined as providing rewards to employees, creating
positive working environment, recognising and appreciating employees, giving incentives for
extra work, and many more. By creating a positive working environment leaders can motivate
employees of the business in a proper manner so that they increase the customer base and market
share in the market. Providing rewards to employees is also a motivation scheme that helps in
boosting their confidence and dedication towards the work assigned. Rewards can be monetary
or non-monetary in which monetary includes giving appraisals, incentives, paid leaves while
non-monetary includes promotion, appreciating employees for better work, creating working
21

environment for employees which is secure and safe. It is important for the company to provide
training to employees so that they learn new skills and knowledge about the techniques and tools
that the company use for making the work easy and reliable (Zaid, Jaaron and Bon, 2018).
Appreciating and recognising employees for their good work is a strong motivating factor that
help them in staying within the company for more time and this helps in developing employees
morale as well. Employees feel good and important when they are inspired in a right manner and
making them prepared for the uncertain situations in a effective manner. Leader is also
responsible for engaging employees within the company for more time period by making them a
part of important meetings like decision making process so that they also feel free to share
thoughts and opinion about a particular approach. Motivation is an important approach that helps
in delivering high quality objectives and more share in the market so that they attain more
customers within the market (Jackson and Bridgstock, 2018). With the help of right guidance
from the mentor or leader employees can gain confidence of customers so that take services and
products of their company other than competitors company. It is the employees only who are
responsible for gaining more number of customers towards availing the products and services
delivered by the business in the market. For developing employee in the correct manner it is
essential for the company to leaders to deal with employees in a productive manner and
motivating them to work as a team for completing the given task. Team work is also important
within an organisation as it helps in delivering better results and also results in completing the
given project in a proper and timely manner (Scuotto and et. al., 2020). Motivating and inspiring
employees is the only method by which business can function in a proper manner and in
developing the right methods for achieving high growth and success in the highly competitive
market. Providing rewards and incentives to employees impacts the overall performance and
growth of the business in a positive manner. It is the employees that are responsible for
completing the given task in an appropriate manner and in gaining high profitability and success
in the competitive market.
Theme 2: Impact of rewarding and incentives motivation scheme for retaining employees
within Barclays
From the above mentioned literature review this can be analysed that rewards and
incentives are the major strategies that can be adopted by the organisation in order to enhance
employee retention and engagement. With the help of engaged employees overall productivity
22

can be increased in which employee can perform their job with higher enthusiasm and
motivation. With the help of giving significant rewards to employees positive impact can be
drawn over productivity of the organisation and individual employee. Motivation schemes can be
of different types such as training and development, rewards and recognition, employee
engagement and many others. Using the same the business objectives can be acquired by
Barclays as the company is associated with providing financial services in which their employees
are performing significant role (Crawford and et. al., 2020). Using such methods employee
turnover can be minimised and talented staffs can be retained in the organisation for longer
duration of time. Rewarding is considered as the best factor which helps the business to intensify
employee engagement and develop organisational decision making process. Some of the benefits
of rewarding scheme are elaborated as under:
 Increases productivity and performance: With the help of providing rewards to
employees Barclays would be assisted in developing performance of their individual
employees and this could reflect in increasing workplace productivity (Kobia, 2021).
Barclays could provide effective and attractive rewards to their employees so that to gain
higher customers loyalty and experience.
 Enhanced employee engagement: In the case when employees are treated in proper
manner then this will create higher support within the organisation so that they can work
with higher engagement and satisfaction (Daudi, 2021). Barclays is considered as the
financial service provider in which using employee rewards the working employees can
perform their tasks with higher productivity.
 Make employees feel happy: This is examined that happy employees would contribute
to the fuller in organisational success so that business could lead their functions in
effective and efficacious manner (Bellet, De Neve and Ward, 2019). When employee
morale is high then this will lead the employees into creating huge chances for
organisational growth and success. Using such employee efforts competitive edge can be
attained by the organisation. This is essential for the organisation that they keep attractive
rewards and incentives in their organisation so that positive edge can be acquired in
overall performance.
23

 Build a positive working environment: Barclays is highly focused over creation of
healthy working environment in their organisation and for this involvement of their
employees is necessary (Pratolo, Sofyani and Anwar, 2020). This is states that with the
help of appropriate rewards and benefits positive working environment can be built due
to which organisational growth opportunities can be inhaled. Using such methods
employee may feel valued and render their fuller support in attaining business objectives.
 Decreases employee turnover: Employee turnover is considered as one of the major
issue which can be seen within the organisation due to not having appropriate support
within the employees. In order to attain business objectives this is imperative that positive
environment can be given to employees so that they can manage their own efforts
(Mvula, 2020). Using rewards and benefits employee turnover can be reduced and this
will also minimise overall cost of operation. This is essential for Barclays that they try to
focus on hiring of competitive employees so that employee turnover can be reduced and
employees efforts can be used in attaining business objectives.
 Helps in recruiting new talent: Using employee efforts Barclays can develop their
business objectives and maintain significant market image as well. Using rewards and
benefits within the organisation nee talent can be attracted as the organisation is having
positive market image which helps in recruitment of talented workforce (Cattermole,
2019). On the other hand, these efforts are helpful in providing valuable aspects to the
organisation so that business development can be made.
Theme 3: Challenges faced by managers while setting up rewarding and incentives motivation
scheme within Barclays
From the above collected information using literature review as a method of secondary
data collection this can be concluded that there are different issues that can be faced by the
managers of Barclays during setting up of rewarding and incentive-based motivation to their
employees as needs and demand of every employee is different from each other. With the help of
giving needed reward and incentive employee motivation can be enhanced so that employee
morale can also be developed in which overall productivity can be encouraged. This is the tough
task for the managers that to decide appropriate and right reward scheme so that they can retain
their workforce for longer duration of time. This is essential for the organisation that to engage
24

their employees in such a way that better growth opportunities can be provided to the employees
and in the same manner they can retained in the organisation for longer duration of time.
Employee appreciation is also an important aspect which helps the employees to develop their
motivation and acquire success into the long run (Paudyal and Ni, 2019). Barclays is highly
active for their employees so that the company tend to use different business strategies which
may lead them to provide motivation of working to their employees. At the time of instigating
employee rewards and incentives there are various dimensions which are needed to be kept into
the mind by the manager so that different negative elements can be eradicated. There are
different issues that can be faced by manager of Barclays during setting up reward and incentive
system which are elaborated as under:
 Different expectations of employees: As stated every employee is having their own
needs and demands which is needed to be undertaken by the manager at the time of
developing rewarding and incentive schemes in the organisation (Perkins, 2018). This is
regarded as the major challenge for Barclays in which manager is needed to understand
expectations and needs of their individual employee. In this manner it is essential for the
manager that they keep motivating their workforce in such manner that their efforts can
be used in attaining business objectives.
 High budget required: In order to initiate any of the business strategy whether it is
related with employee or the organisation the cost is the primal element which is needed
to be decided (Fowler, 2018). In this manner the another issue that could be faced by
managers of Barclays during implementing reward and incentives in the organisation
could be budget situation which means that the manager is needed to decide the budget.
For managers of Barclays this could be difficult task as deciding of budget is directly
related with morale of the employees.
 Rewards not linked to performance of employees: After receiving of incentives and
rewards the issue could be faced which is related with dissatisfaction among employees.
This can be seen by the managers that their employee may feel that their given rewards is
not matching with their performance in the organisation (Keller and Kokkinis, 2022).
This is essential for the Barclays that they take care of individual objectives those are
working in the organisation so that they may feel valued. In order to mitigate the issue the
25

manager of Barclays could link their reward scheme with individual performance so that
situations of dissatisfaction can be avoided.
 Not retaining talented employees: Employee within an organisation is considered as
asset for the organisation which means that this is essential for the organisation that they
implement such schemes which are beneficial for employees. Talented employees helps
in reaching out to business objectives in easy manner in which market prominence can
also be acquired. In the context of Barclays the manage of the company may face issues
of retaining their top talent. So that the issue is related with acquiring edge within the
employees and using their skills within business activities (Rejeb and et. al., 2021). So
that in order to retain top talent within the business this is essential that positive and
satisfactory rewards should be given to employees so that they may feel valued while
working in the organisation.
Summary
The data collected on the selected research topic is based on subjective information by
using second hand sources which are more reliable and authentic. All the themes are addressed
related to the research objectives by thematic analysis in an effective manner.
26

CHAPTER 5: CONCLUSION AND RECOMMENDATION
Introduction
This chapter helps in providing a summarised information related to all the activities that
researcher has carried on in the whole research project. This helps the reader in understanding
about the topic of research after finishing the research.
Conclusion
It is being concluded from the above information that motivation schemes play an
important role for attracting and retaining employees. Through implementing motivation
schemes within workplace, company can attract more and more skilled employees within an
organisation due to which the performance and growth of business increases. The first objective
is addressed by the researcher which is about understanding about the motivation scheme and
employee retention in the company. There are different types of motivational strategies which
can be used by organisation in order to enhance their business performance such as mentorship
programs, employee compensation, continuous feedback on performance and training and
development. It is the responsibility of the manager to provide feedback to its employee so that
they can focus on improving their performance and efficiency while working. Feedback helps in
boosting the morale and motivation level of employees due to which they give more productive
outcomes in achieving business goals and objectives. By offering employee compensation,
manager can also boost the motivation level of staff. The compensation of employees is decided
on the basis of their performance and contribution within workplace. If staff give their best
performance, company is responsible to offer compensation on the basis of their contribution so
that they can give their valuable outcomes in achieving the target. The other motivational
strategy which can be used by organisation in order to increase the motivation and morale of
employees is providing training and development opportunity to staff. By organising training and
development program for their employees, company can improve their knowledge and also
enhance their skills so that they can contribute their best output. The second objective is about
the impact of providing rewards and incentives to employees with the help literature review and
thematic analysis. There are various benefit which can be gained by the company through reward
and incentive motivation schemes such as positive company culture, contributes to employee
well being, good reputation and increases productivity. These are the few benefits which can be
27

gained by organisation and also it helps in improving business performance. The reward and
incentive program helps in creating positive working culture due to which employee work with
dedication and also give better result in achieving task. Positive culture helps in enhancing the
brand image and reputation of company due to which they can attract more and more talented
employees within workplace. Reward and incentive program also contributes to employee well
being as they can improve their standard of living and also satisfy their need and requirement
within workplace. Through reward and incentive program, organisation can improve the
productivity and reputation of business due to which they can attract and retain loyal employees
towards the brand. The third objective is determined by using literature review which is about the
challenges faced by company while implementing rewards and incentives. There are various
challenges which company can face managers while setting up rewarding and incentives
motivation scheme within business such as lack of clarity, fear of failure, unfair and favouritism,
lead to conflicts and misaligned incentives. These are the few challenges which create an impact
on the business growth and performance. In order to gain competitive advantage it is necessary
to overcome these issues as it may affect the brand image and reputation due to which it becomes
difficult to retain talented staff within workplace. The fourth objective is about identifying the
different types of rewards and incentives for motivating employees of the business with the help
of literature review. The following rewards and incentives are flexible working, promotion and
appraisal, recognition and appreciation and many more that results in increasing motivation level
of employees.
Recommendation
 It is being recommended from the above literature review that organisation faces different
challenges while setting up reward and incentive schemes within business. It is important
to mitigate these issues as it can harm the image and reputation of brand due to which
company cannot attract and retain talented workforce. Barclays must focus on offering
appealing reward to its employees on the basis of their contribution and performance as it
helps in making them feel satisfied and motivated within workplace so that they can give
their better results in accomplishing business goals.
 Barclays must also ensure that there must be effective communication between manager
and employees so that they can collectively work together in order to achieve the vision
and mission of company.
28

 Organisation must also focus on incorporating training as it helps in enhancing the
knowledge and skills of employees so that they can contribute their best performance in
accomplishing the business target. Through training they can also learn something new
and implement while working.
Summary
This chapter helps in providing an short summary about the concluded activities of the whole
research and following recommendations that can help company in addressing their issues or
problems in the future.
29

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