RELATED STUDIES

1.

TITLE: The study on the effects of incentives, work environment, and salary on employee performance in
a work from home set-up of a banking company

AUTHOR: Beatrice Mae L. Castro, De La Salle University, Manila

Francheska Bianca S. Javier, De La Salle University, Manila

Phola Amyll L. Lirio, De La Salle University, Manila

Krisha Joy O. Tan, De La Salle University, Manila

Date of Publication

6-19-2022

Document Type

Bachelor’s Thesis

Abstract/Summary

Due to the COVID-19 pandemic, many employees are advised to work from home which was highly
recommended by the government authorities in attempts to control the spread of the virus. Banks in the
Philippines is no exception with regards to the notice of implementing a work from home set-up as
mandated by the government. This study was conducted with the objective of identifying the
relationship of incentives, work environment, and salary with employee performance and determine the
impact of the three independent variables on the employee dependent variable.

research was conducted to a whole department of a bank in the Philippines where it had 33
employees. The researchers was also able to determine the effect of having a work from home set-up in
the incentives, work environment, and salary of the employees. The results showed that there were
little to no additional incentives that were given, no changes in the salary, and various changes in the
work environment, can either have positive or negative effect. To carry out this objective, a simple and
multiple linear regression was utilized which yielded a significant and positive relationship among the
said variables. Determining variables that plays a role in the performance of the employee gives
companies and its managers the chance to analyze how to improve that aspect and contribute to the
overall success of the company.
In addition, these are the samples of Incentives in Banking industry:

Performance-based bonuses: Traditionally tied to individual or team sales targets, loan originations, or
customer satisfaction metrics.

Profit-sharing: Rewards employees based on the bank’s overall profitability.

Recognition programs: Public or private acknowledgements for outstanding performance or

contributions.

Skill development opportunities: Training programs, conferences, or certifications to enhance

employee skillsets and career advancement.

Wellness benefits: Gym memberships, health insurance subsidies, or mental health resources to
promote employee well-being.

Impact of WFH on Incentives:

Performance metrics: Shifting to WFH may necessitate adjusting performance metrics to reflect outputs
in a remote environment.

Goal setting: Collaborative goal setting and clear communication become even more crucial for remote
teams.

Recognition programs: Finding creative ways to celebrate achievements virtually can boost morale in a
WFH setup.

Wellness benefits: WFH can blur work-life boundaries. Providing resources to maintain a healthy work-
life balance remains important.

Additional Considerations: Adapting incentives to address WFH challenges: Consider offering stipends
for creating a home office setup or internet connectivity.

Focus on outcome-based incentives: Evaluate results achieved rather than micromanaging processes in
a WFH environment.

Communication and transparency: Regularly communicate program updates, goals, and successes to
maintain employee engagement.

By understanding these dynamics, your study can explore how well current incentive programs motivate
and engage employees in a WFH setting. This will help determine if adjustments are needed to ensure
continued high performance amidst the pandemic’s new normal.
 2.

TITLE: THE ROLE OF FINANCIAL AND NON-FINANCIAL INCENTIVES ON EMPLOYEE PERFORMANCE IN NIC
ASIA BANK AND GLOBAL IME BANK

AUTHOR: Kritika Sharma

People's Campus

Date of Publication:

Kathmandu, Bangladesh Nepal

February, 2021

Abstract/Summary

Productivity of the organization depends on the performance of the employees. The performance
of an employee depends on the strength of employee incentive schemes used in an institution. The
main objective of this research is to study the effect of incentives and motivation on employee
performance at NIC ASIA Bank and Global IME Bank Ltd. It aims to examine the motivational factors that
helped banks to grow, and to identify the parameters that have strong influence on employee
performance. Therefore, a research is conducted based on the quantitative analysis by taking the
opinion of the banks employees.

The questionnaire is designed to gather information on the influence of incentives (independent

factor) on employee job performance (dependent factor).The target populations for this research were
50 employees of each bank, chosen randomly. The primary data collected from both the banks were
analyzed using the statistical analysis software, SPSS. With the help of this analyzing tool, various
statistical analyses, such as mean, median, mode, standard deviation, variance, ANOVA-test, correlation,
regression, were carried out. The findings revealed that employee performance contributes directly to
the performance of the company and the influence of financial and non-financial incentives have a
pivotal role into it.

This study investigates the role of financial and non-financial incentives on employee performance
in two prominent Nepalese banks: NIC Asia Bank and Global IME Bank. The research explores how these
incentives influence employee motivation, engagement, and ultimately, their contribution to the bank’s
performance. Employee performance is crucial for the success of any organization, and financial
institutions like banks are no exception. This study examines the impact of financial and non-financial
incentives on employee performance within NIC Asia Bank and Global IME Bank in Nepal.
 3.

TITLE: THE ROLE OF FINANCIAL INCENTIVES ON EMPLOYEES’ MOTIVATION IN FINANCIAL INSTITUTIONS

IN TANZANIA: A CASE OF BANK OF TANZANIA

AUTHOR: Edmund Kyaruzi Barongo.

Tanzania Africa, 2013

ABSTRACT

The broad objective for this study was to assess the role of financial incentives in employee’s
motivation in financial institutions using the case of the Bank of Tanzania. Specifically, the study aimed
at identifying the most important indicators of motivation, determining the most significant non-salary
incentives in motivating employees and determining the most significant financial incentives on
motivation.

The study was descriptive in nature and it employed quantitative approach in the data analysis. The
study had a sample of 100 respondents who were purposively selected. The study through the first
objective revealed salary, staff loan, car loan and house allowance as the top four most important
indicators of motivation at the Bank of Tanzania. Through the second specific objective it was revealed
that staff and car loans as the most significant non-salary incentives in motivating supporting,
professional and the managerial employees at the Bank of Tanzania. In determining the most significant
financial incentives on motivation; medical insurance and salaries of employees were most significant
financial incentives at the Bank of Tanzania. It was concluded that managers need to make sure their
employees work in pleasant and desirable work environments. If people grew in an environment in
which their needs are not met, they will be unlikely to function as healthy individuals or well-adjusted
individuals. This study recommended the use of its results as starting point for managers and other
interested parties to identify and understand factors motivating employees in their institutions to
ensure an environment that encourages, promotes, and fosters such factors.

In addition, this study focuses on the role of financial incentives in motivating employees within
financial institutions in Tanzania, specifically using the Bank of Tanzania as a case study. It examines how
financial incentives influence employee motivation and potentially contribute to improved performance
within the bank. Employee motivation is a critical factor in the success of any organization, including
financial institutions. This study explores the role of financial incentives in motivating employees within
the Tanzanian banking context. It focuses specifically on the Bank of Tanzania and investigates how
financial rewards might influence employee motivation and potentially lead to improved performance
within the bank.
 4.

TITLE: The Impact of Incentives on Job Performance, Business Cycle, and Population Health in
Emerging Economies

AUTHOR:

1. Department of Business Administration, International College, Rajamangala University of

Technology Krungthep, Bangkok, Thailand
2. Department of Global Buddhism, Institute of Science Innovation and Culture, Rajamangala
University of Technology Krungthep, Bangkok, Thailand

Corresponding author.

Edited by: Wen-Yi Chen, National Taichung University of Science and Technology, Taiwan

Reviewed by: Mariela Deliverska, Medical University Sofia, Bulgaria; Afzal Ahmed Dar, Shaanxi
University of Science and Technology, China

*Correspondence: Yaoping Liu ht.ca.ktumr.liam@l.gnipoay

This article was submitted to Health Economics, a section of the journal Frontiers in Public Health.

Abstract

In the past, different researchers have conducted studies on incentives and how they are linked
to employee motivation, influencing emerging economies. This study addresses two gaps as outlined
in previous studies. One research gap exists in examining employee loyalty and employee
engagement in relation to the business cycle. The other gap is observed in the recommendation that
future researchers use different moderators between incentives, the health of employees, and job
performance with population health. This focus was explored in the present study by identifying the
responses of hospitals and physicians to the business cycle to examine the impact of incentives on job
performance and health of workers in public and private sector hospitals in Shandong, Eastern China.

Data were collected in the form of questionnaires that consisted of close-ended questions. These
questionnaires were then filled out by 171 doctors and 149 nurses working in both public and private
sectors in Shandong, Eastern China. The results showed that there is a relation between different
variables. Some variables have more impact on other variables such as transformational leadership,
which has a significant impact on the job performance and business cycle, whereas monetary
incentives also impact job performance and population health, but this impact was lower than that of
transformational leadership in terms of how job performance influences emerging economies.

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