Motivation, Morale

Banking and finance related acts are supposed to be followed within banking sectors to maintain certain regulations that will help in appropriate delivery of services. It is important to spread awareness among employees to maintain a certain level of morale so that they can motivate newer employees and customers to cooperate accordingly. Motivation is a great thing that can help in achieving better objectives. 

Bank & Finance Acts

Banking acts

Every country has specific banking acts to manage the banking sector and its operation, however; there are some fundamental acts that are necessary to be maintained by any banking company. A brief detail is provided in the below table,

Table 1: Banking Acts

Finance acts

There are a number of amendments that are done by financial bill and the below table will provide brief detail on that.

Table 2: Financial Amendments

Motivation theories to work in banking sectors

It is important to maintain a significant level of motivation while working in any industry so that harmony can be maintained all the time among all the employees. Banking sectors are no exception in this context and there are a number of theories that must be implied to ensure that motivation is appropriately spread among everyone to work cooperatively and peacefully despite having principle, moral, belief, cultural, etc. related differences. A number of quintessential motivation related theories are discussed briefly further.

Communication theory

It is necessary for each employee to have clear communication among themselves so that they can avoid any kind of conflict and misjudgements. It has been identified that a lot of times, people engage in fights or arguments just because they failed to communicate properly. That is why it is necessary for every employee or customer to communicate adequately so that surrounding people can be motivated to cooperate as well. 

Equality theory

All kinds of customers and employees of any position must be treated equally. The financial difference is all that one has while working at various posts but, respect, dignity, honesty and there are a number of other things that must be maintained with everyone. Each employee should be provided with equal services and each customer with similar facilities. This motivates people to work without discrimination even within a diverse atmosphere which helps in creating a positive working environment.

Rewards distribution theory

The workers who are working within the banking sector must be rewarded after a period of time so that they can work with higher motivation. Recognition for one’s contribution is highly required so that a positive and motivational surrounding can be developed. All these theories are inclined with motivation theory as these help in enhancing motivation among different people. 

Employee morale requirements in banking sectors

The meaning of morale for an employee is a thing that gives them the energy to work enthusiastically within a workplace. The banking sectors go through many hard jobs and at certain times of the year, the pressure of work is too much. Employees require high morale so that they can work for extra hours with better productivity and help the companies to meet respective objectives. Employees that work with low morale can experience depression, anxiety, etc. issues as they appear to be dissatisfied with their jobs and stay low energetic all the time.

Conclusion

This study has focused on banking acts and financial amendments implied in banking sectors, morale requirements of employees of the respective sector, and motivation theories. It is important to assert that all the banking organisations all over the world require to follow the mentioned acts to be properly functional. Motivational theories and high morale are important to ensure good performance of the employees within workplaces.