Hellenic Open University Conferences, International Conference on Business & Economics of the Hellenic Open University 2015

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Employee Motivating Factors in the Greek Banking Sector
Prodromos Chatzoglou, Anastasios Karras

Building: Titania
Room: Omiros
Date: 2015-02-07 04:00 PM – 06:00 PM
Last modified: 2015-01-27

Abstract


Organizations, today more than ever, need to have a well motivated workforce that performs at its highest level, in order to increase their possibilities for success and survival in the long run.

This study aims to identify the factors that positively influence employee motivation, despite the unfavorable circumstances of labour market and work environment which emerged in Greece in the last five years. The research was carried out in the Greek banking sector which is in the heart of the economic crisis. Data were collected from 164 bank employees using a structured questionnaire. Although it seems controversial, the results indicate that non-financial incentives are the ones with the strongest positive impact on Greek bank employees’ motivation, highlighting employees’ need to maintain at their jobs. Moreover, it is supported that the highly motivated workforce may lead to an overall increase of employee performance.

Keywords


Employee motivation, motivational incentives, financial crisis, employee performance, organizational effectiveness