Impact of Motivation on Employee Retention in Barclays

Dissertation
(Impact of motivation of employee
retention)
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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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