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Employee Motivation and Retention in the Banking Industry

   

Added on  2019-10-08

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Table of ContentsSUMMARY OF ARTICLE.............................................................................................................1KEY THEORIES OR CONCEPTS THAT RELATES TO THE ARTICLE KEY ISSUES..........2CRITIQUE.......................................................................................................................................4
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SUMMARY OF ARTICLEThe article that is taken for the given study is “A Wrinkle in the Workplace” written byJulia Werdigier. It is related to the banking industry. Here, after analyzing the given article, it isidentified as low morale or the motivation of employees is being regarded as one of the basicissues that are incurring in the banking industry. In addition to this, staff turnover is also beingregarded as another critical issue that is being discussed in the given article. Due to this, the firm is facing the problem of retaining employees in the firm for a longerperiod of time. In addition to this, it is identified that there are several reasons behind theoccurrence of given issues in the banking sector. It consists of low bonuses, job cuts, and fallenearnings, etc. In this context, it can also be said that the success of any company especially theservice industry totally depends on its respective employees. Thus, it is essential for the firm thatit should take all sorts of measures with an aim to maintain their satisfaction and motivation.Both issues such as staff retention and low motivation among the employees of thebanking industry are very important. This is because these issues have a direct connection withthe sales and profitability related condition of the company. This is because; the success of anycompany totally relies on its employees. Here, if they will not work well then in this situation theimpact of the same will be seen on the profitability related condition of the corporation. On theother hand, the issues such as low motivation and staff retention have an impact on the type ofperformance that is being carried out by the firm in the market. Here, the firm will not be able to accomplish its sales goal if its staff will feel highlydemotivated and dissatisfied. Similarly, in order to work well in a highly competitive market,1
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