MOTIVATION PLAN OF Citi Bank

Submitted To NIS Trainer Mrs. Reetika Agarwal

Made ByAnupam Shukla PGDAM 3rd Sem

MOTIVATION
Motivation in simple terms may be understood as the set of forces that cause people to behave in certain ways. A motivated employee generally is more quality oriented. Highly motivated worker are more productive than apathetic worker one reason why motivation is a difficult task is that the workforce is changing.

OBJECTIVE OF THE PROJECT

To study the monetary and non monetary incentives that Citi Bank use to motivate their employees. To take feedback and check satisfaction of the employees on the incentive scheme that is applicable to them.

IMPORTANCE OF MOTIVATION:
1. Motivated employees are always looking for better ways to do a job 2. A motivated employee generally is more quality oriented 3. Highly motivated worker are more productive than apathetic worker 4. Every organization requires human resources in addition to financial and physical resources for it to function . 5. Motivation as a concept represents a highly complex phenomenon that affects.

MOTIVATION THEORIES
Classical theories of motivation
Maslows hierarchy of needs theory Herzbergs Two factor theory Theory X and Theory Y Modern theories of motivation ERG Theory of motivation

Citi Bank Company Profile

Established 108 years ago in Kolkata, Citibank has a long history in India. Currently it is the largest foreign direct investor in financial services. Citibank has a total capital commitment of approximately USD 4 Billion in its onshore banking and financial services business and its principal and alternate investment program in India. It operates 42 full-service Citibank branches in 30 cities and over 450 ATMs across the country. Citibank is an employer of choice to over 8,000 people, and indirect employer to more than 20,000 others. It is also the largest taxpayer in India among international financial institutions.

SERVICES
BANKING INVESTMENTS INSURANCE CITI BANK CREDIT CARDS CITI BANK LAONS

MONETARY INCENTIVES
Annul increment of 10 to 25 % on the basis of performance. Annul bonus on the basis of company performance and employees performance. Once a year cash prize worth 10000 to 50000 Rs. Are given to the employees. Profile increment in every two year on the basis of performance.

NON-MONETARY INCENTIVES
WOW award which includes a certificate and a assured gift is given to any one employee on his/her monthly performance. BRAVO Award i.e. Employee of the month given to that employee who is /was dealing on a specific project.
Service Quality Award given on performance basis. Galaxy of Thanks given to that employee who is most helpful.

COMPETOTOR OF CitiBank

HSBS The world's local bank

MONETARY INCENTIVES Annul increment of 5 to 10 % on the basis of performance Profile increment in every three year on the basis of performance. NON-MONETARY INCENTIVES Only a monthly award given to the one employee on his/her monthly performance. But this award is not given on regular basis Health insurance upto 300000 Rs. For HSBC Bank employees.

RECOMMENDATIONS
According to my analysis, the employees of Citi Bank are satisfied from the company. They are getting satisfaction from the work, almost they want as they are doing presently. May be they are not getting some nonmonetary benefits or some facilities which they deserve may enhance their performance in future.
Thus,I would like to recommend that Citi Bank should apply ERG Theory of motivation of motivation.