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Motivating through Total Reward
12 March 2010
Prepared by : Haleem Sadrey
2
Presentation agenda
• Introduction to RBS (Slide 3, 4)
• Performance Management at RBS (Slide 5)
• What is motivation (Slide 6)
• Impact of Motivation and Maslow’s hierarchy of human needs (Slide 7)
• Motivation at RBS (Slide 8)
• Conclusion (Slide 9)
• Questions and Answers (Slide 10-13)
Introduction to RBS
4
The Royal Bank of Scotland Group
(RBS) is one of the largest
financial services companies in
the world.
It provides a range of services
including Retail and corporate
banking, Financial Markets,
Consumer Finance, wealth
Management and Insurance.
The RBS Group operates in
Europe, the US and Asia, serving
more than 36 million customers
world-wide. It employs more than
140,000 people.
The Royal Bank of Scotland is a leading Financial institution
in the world
5
Roles and Performance management at RBS
• For RBS to offer world-class financial
services, it is vital that it attracts the
most talented people
• RBS positions itself as a world-class
employer, with world-class employment
opportunities.
• RBS recruitment is based on merit
with different labour market conditions
in each location.
Setting Job Target and
Objective
6
What is Motivation
The willingness to expend a certain amount of
effort to achieve a particular goal.
7
The impact of Motivation and Maslow’s hierarchy of
human needs
Human beings have wants and
desires which influence their
behaviour, only unsatisfied needs
can influence behaviour, satisfied
needs cannot.
Since needs are many, they are
arranged in order of importance,
from the basic to the complex. The
person advances to the next level of
needs after only when the lower level
need is at least minimally satisfied.
Further by the hierarchy, the more
individuality, humanness and
psychological health a person will
show.
Motivation
Increases Effort/
Productivity
Aids Retention
Enhance Persistence
Drives Creativity
Improves Focus
A happier workforce
Reduced absenteeism
8
• Flexible pension Funding
• Health and Medical
benefits
• Paid holidays
• Discounted shopping
• Mortgages
• Currency exchange
• personal loans
• Childcare facilities
Motivation at RBS- “Total Reward”. The total reward package
that RBS offers to his employees contain:
9
Conclusion
RBS operates an exciting and forward thinking Human Resources (HR)
strategy. It provides a world-class employment package for every
employee, at every level, wherever they work. It adopts an attitude that
motivates its staff in both financial and personal ways. By doing this,
RBS is able to compete for the best people and attract them to its
business. In a world where local labor market conditions can fluctuate
from region to region, RBS must be sensitive to local conditions and
individual needs.
In RBS, motivation theory comes to life. RBS employees at all levels
can enjoy a work environment where effort is seen to be valued, where
achievement is recognized, where individual progress is rewarded and
where a long term career is available for those who are able to grow
with the business. Where individuals are made to feel a part of the
bigger picture and where the rewards available are varied, practical,
personal and tailored to the individual, there are motivators for all.
10
Questions and Answers
11
Name two motivation factors at RBSQ-1
The two motivation factors at RBS are called Hygiene factor which are
- Suitable working environment
- Competitive rate of pay
Apart from these two important factors, provision of challenging work and recognition for
doing well are also the factors that can create or increase work motivation
Response
Response to Question 1
12
Response to Question 2
Describe the difference between the theories of Taylor and Maslow Q-1
Taylor believed that if the amount of time and effort that each worker expends to
produce a unit of output can be reduced by increasing specialization and division
of labor, the production process will become more efficient.
Taylor’s Principles
1. Study the way workers perform their tasks, gather all informational job knowledge that
workers possess, and experiment with ways of improving how tasks are performed
2. Codify the new methods of performing tasks into written rules and standard operating
procedures.
3. Carefully select workers who possess skills and abilities that match the needs of the task,
and train them to perform the task according to the established rules and procedures.
4. Establish a fair or acceptable level of performance for a task, and then develop a pay
system that provides a reward for performance above the acceptable level.
Taylor
Maslow's ideas surrounding the Hierarchy of Needs concerning the responsibility
of employers to provide a workplace environment that encourages and enables
employees to fulfill their own unique potential (self-actualization) are today more
relevant than ever.
13
How does RBS' Total Reward package fulfill Maslow's higher levels of
motivation?Q-4
According to Maslow, the most basic needs on this hierarchy had to be satisfied
before workers could look to the next level. Basic physical needs were things like
shelter, food, warmth and bodily functions. Next, people had to feel safe in their
environment. RBS provides these basic needs in their branches all over the world.
Maslow’s higher levels of need are less obvious and less easy to describe but of great
importance. Social needs refer to the fact that we want to feel part of something we
share in.
RBS creates the opportunity for its community of employees worldwide to share in its
common goals and vision for the group. It does this by rewarding the people who
contribute to its success through their commitment and hard work.
Response
Response to Question 4