Impact of Motivational Techniques on Fulfilment of Employee Needs: A Study of Merchant Bank of Sri Lanka & Finance PLC

Abstract

Every organization survives by competing with other organizations. So, different kinds of strategies are used by organizations to assure their survival and growth. Organizations have identified the human resource as a critical factor which determines the survival of them. So, the concept of employee motivation highly contributes to the organizational efficiency and effectiveness. Therefore, we should clearly identify how we can motivate employees and which techniques should be used to motivate employees. Many organizations use various types of motivational techniques. These motivational techniques link with fulfilment of employee needs. The main purpose of this research was to study and evaluate impact of motivational techniques on fulfilment of employee needs at Merchant Bank of Sri Lanka & Finance PLC. According to the conceptual framework of the current research, motivational technique is called the independent variable and the fulfilment of employee needs is called the dependent variable. This study is conducted by using sample of 45 assistant managers at head office. Questionnaires are distributed among assistant managers and asked to indicate their preference based on five point Likert scale and the response rate was 100%. Finally, collected data are evaluated by using SPSS package using the statistical techniques such as mean, mode, variance, standard deviation, correlation & regression analysis. Ultimately, findings of this research revealed that there is a significant correlation between motivational techniques and fulfilment of employee needs at Merchant Bank of Sri Lanka & Finance PLC.