Methods of Motivation at HSBC - PDF

**Methods of motivation at HSBC** Motivation is a reason for acting or behaving in a particular way Non-financial methods of motivation refer to non-monetary rewards HSBC encourages job rotation for the university graduates. Non financial rewards may prevent the employees from becoming bored in t...

**Methods of motivation at HSBC** Motivation is a reason for acting or behaving in a particular way Non-financial methods of motivation refer to non-monetary rewards HSBC encourages job rotation for the university graduates. Non financial rewards may prevent the employees from becoming bored in their roles as well as allowing them to build a wider range of skills. HSCB believes employees should be empowered to make decisions in the business. Employees should become more confident to make important decisions in the banks, this gives them a sense that they are valued by the company and can boost morale and staff loyalty Employees at HSBC can take a sabbatical, which may provide the work- life balance many employees are seeking. As with Andy Russell this may motivate employees to work harder when they return to work, again because they feel HSBC values them as human beings and the commitment they have shown to the organization. A large percentage of HSBC employees work on a flexible basis. This may be home working or part-time working. This again helps provide a better work-life balance for employees, which may lead to more loyal and committed staff for HSBC. However, flexible working may not improve employee performance. Some employees may abuse the advantages of working from home and not be productive. It is difficult to tell if employees are really working when at home or if they are taking long breaks, controlling staff in such a situation can be a problem for HSBC. Time off for sabbaticals may be difficult to manage for the bank and cause disruption at the bank branch where they work. If a member of staff takes a 6 months to a year off they need to be replaced and there is a danger that such regular changes in personnel can affect customer service or general productivity. Job rotation may also be difficult to manage if graduates move regularly from country to country, different regions may have different roles and responsibilities in addition to cultural differences. HSBC may have to consider financial benefits to motivate staff. Some employees may be motivated better by financial benefits. If other banks offer better pay and monetary rewards this may demotivate staff and cause high labour turnover. Financial benefits such as commission pay or bonuses can provide incentives for employees to work harder as they will see a tangible financial reward if their efforts go above and beyond what is expected of them. Share ownership is also another financial incentive which means employees will benefit the more profits that HSBC make. This offers employees to work as hard as they can to contribute to the success of the firm as they will also succeed if the share price increases. In deciding what approach to take for HSBC lt depends on what motivates employees at the bank, some will be focused on meeting basic needs when leaving university and less focused on non-financial benefits. Overall, the bank has a wide variety of opportunities for university graduates, which is likely to motivate those employees looking for a fulfilling career at the bank.