A Study on Employee's Motivation & its effect on their work performance at ICICI Securities

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A
DISSERTATION ON
A STUDY ON EMPLOYEE’S MOTIVATION AND
ITS EFFECT ON THEIR WORK PERFORMANCE IN
ICICI SECURITIES LTD
FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE
AWARD OF
BACHELOR OF COMMERCE
UNDER THE SUPERVISION OF
Dr. Sidharth Jain
(Associate Professor, IBM, MU)
SUBMITTED BY,
Anurag Singh
B.COM (Hons) (2019)
Enrollment No. 20160618
INSTITUTE OF BUSINESS MANAGEMENT,
MANGALAYATAN UNIVERSITY,
33rd
KM STONE, ALIGARH-MATHURA HIGHWAY,
BESWAN, ALIGARH.

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STUDENT DECLARATION
This is to certify that Thesis/Report entitled “A Study on Employees motivation and its
effect on their work performance at ICICI Securities” which is submitted by me in partial
fulfillment of the requirement for the award of degree BACHELOR OF COMMERCE
(HONS) to Mangalayatan University, Aligarh comprises only my original work and due
acknowledgement has been made in the text to all other material used.
Date Signature:
Anurag Singh

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SUPERVISOR’S CERTIFICATE
This to certify that Report entitled “A study on Employees Motivation and Its Effect on
Their Work Performance” which is submitted by Mr. Anurag Singh in partial fulfilment of
the requirement for the award of degree Bachelor of Commerce to Mangalayatan
University, Aligarh is a record of the candidate’s own work carried out by him under my
guidance and supervision. The matter embodied in this report is original & has not been
submitted for the award of any other degree.
To the best of knowledge and belief the Report:
(i) Embodies the work of the candidate herself.
(ii) Has duly been completed.
(iii) Fulfills the requirement of the Ordinance relating to the B.COM degree of the
University.
(iv) Up to the standard both in respect of contents and language for being referred
to the examiner.
Date……………….….…. Signature of the Supervisor

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ACKNOWLEDGEMENT
I am very much honored to have this opportunity to show our gained knowledge and
experience which I have acquired by this study on the topic “A Study on Employees
Motivation and Its Effect on Their Work Performance at ICICI Securities Ltd” I am
very much grateful to the VICE CHANCELLOR of MANGALAYATAN UNIVERSITY to
organize such a wonderful dissertation program in our university which helped me to
understand the employee’s motivation and its effect on their work performance.
I am thankful to all my faculty members as they all helped me in every possible manner. I
would like to express my deep appreciation to my faculty guide ‘Dr. Sidharth Jain’ for his
guidance and supervision throughout this study and to support me at every point of work as
well as gave me a proper guidance while making this report.
I also want to thanks all those employees of ICICI Securities as they helped me in one or the
other way to complete this study and to prepare this report.
I want to give a beautiful thanks to all my friends and classmates who helped me in every
possible way and also thanks to my parents for their encouragement and support at every step
of my life.
At last but not the least I want to thank god for giving me so much of patience and strength to
do work at proper time and in effective and efficient manner.
Anurag Singh
Mangalayatan University,
Aligarh

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Table of Contents
1. Title Page
2. Student’s Declaration
3. Supervisor’s Certificate
4. Acknowledgement
5. Table of Contents
S.NO Particulars Page No.
Chapter 1 Introduction
1.1 Introduction
1.2 Problem Identification
1.3 Need & Significance of Study
1.4 Literature Review
1.5 Objective of Study
1.6 Hypothesis
1.7 Research Methodology
1.8 Organization of Study
1.9 Limitation of Research
6-16
7-9
10
11
12
13
13
14
15
16
Chapter 2 Conceptual Framework 17-18
Chapter 3 Data Analysis
Interpretation
19-26
27-36
Chapter 4 Finding & Conclusion 37-39
Chapter 5 Recommendations & Implications 40-42
Chapter 6 Appendices 43-44
Chapter 7 Bibliography 45

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CHAPTER 1: -
INTRODUCTION

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1.1 INTRODUCTION
In the recent century, the main concern of the organization is to increase their profit and
customer satisfaction. These organizations, to achieve the goal, they usually send their
employees for awareness sessions, trainings and seminars as there are the main asset of the
organizations.
Employees were considered just an input to the production of the business. A research
referred to as the Hawthorne Studies, changed this way of thinking. The thoughts that
employees are just assets have been changed when the study concluded that employees are
not just assets, they are the main contributors and affective factors for business production.
Furthermore, the above study found that employees are not motivated solely by money and
employee behavior is linked to their attitudes.
To define motivation, we can say it is an aspect that is approached by different work levels,
from senior to junior levels, in the workplace as employees up to all other workers and people
in the organization. But, it is the manager role to start the motivation process and open the
door for employees to add their inputs on what does really motivates them and it should be as
a strategy to achieve business goals through their main assets which are people. Furthermore,
defined motivation as it is about the moving employees toward doing the job and achieving
the goal through rewards.
On the other hand, work motivation is a factor that changes employee’s way of working and
behavior and stated that in order to be good in anything in the workplace, the only talent
required is motivation. So, it is a talent which is required to do any job or task. Also, Anne
defined motivation as a term that refers to a process that draws, controls, and sustains certain
behaviors and also explored that each employee has different needs and desires which means
the motivation factors is different from one employee to another. Based on that, several
motivation theories should be used to be aware of almost all employee’s needs. Several need
and motivation theories have been discussed in the study to clarify what might affect the
motivation. Moreover, well-defined motivation as it is kind of force which pushes employees
to do things which is a result of the individual needs being satisfied so that they have the
inspiration to complete and proceed with the task.
In addition, motivated employees are needed and required in our rapidly changing
workplaces and markets. They will help organizations survive by performing the job and
work required with their full latent; hence employees will be more productive Putting the
right employees in the right positions depending on their skills and amount of work they can
generate will enhance their ability to use their skills and abilities more frequently which will
lead them to concentrate on the business missions and objectives.
So, without motivation nothing exclusive will ever occur which will lead the organization to
get a high performance rate, high productivity and hence high profit.

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The main objective and concern of most of the organizations is to make the benefit from
people who are feeling positively toward the work and motivate unsatisfied employees in
order to end up with a win–win situation for both the company and workers.
Need of employee motivation: - motivated employee will increase the capability of the
organization to achieve its mission, goals and objectives. It will also engage all to build a
strong organizational culture. Also, motivated employees will feel as having a strategic
partnership with the organization and their commitments and loyalty will increase from day
to day. Also, based on their research about “Happy Employees Make Productive Employees”
found that when employee attitudes improved by 5%, customer satisfaction jumped by 1.3%,
and the revenue increased by 5%. So, motivated employees usually produce more than others
and hence the customer satisfaction increases. Motivated employees can impact a company’s
bottom line and make the workplace somewhere employees look forward to interact with
instead of just a place to “pick up a paycheck”. Furthermore, a well-motivated organization
for sure will have more motivated employees and hence they will be more productive and this
will lead to extreme cost savings. In addition, satisfied employees positively impact corporate
culture, resulting in many intangibles but equally important returns. They also see that
people, who were motivated by sending them to foreign countries in order to live and work,
are seen as valuable resource as they give more than usual when they return.
On the other hand, definite that an organization whose employees have low motivation is
completely vulnerable to both internal and external challenges because its employees are not
going the extra mile to maintain the organization's stability. An unstable organization
ultimately underperforms. Firm’s needs to motivate their people and keep them motivated in
order to obtain the productivity gains and to insure their competitiveness. Sometimes people
who are given responsibilities feel motivated and do their best and work hard accordingly
also sees that motivation is about creating the environment where employees will be
motivated and hence work with their full effort. So, organizations should motivate their
employees to enhance competitive advantages and reach the firms vision and mission.
Researchers have recommended that employee’s commitment toward their organizations will
enhance their satisfaction and which will benefit the firm. Moreover, researchers have
stressed that satisfied and encouraged employees are crucial to the organization effectiveness
Also, business and company’s succession depends on motivated employee; they can make all
the difference in the company’s ability not to just survive but also to succeed. Although some
experts argue that companies who spend money on motivating their employees is waste of
money but most of them agreed that the wasted money is achieved in a very short time by the
motivated employees. In addition, performers and experienced employees are actually who
produce the results of the business and they are the backbone of any company and the reason
of the business growth and gain
Motivated people and their commitment are vital to the productivity of the work as they will
perform with their full potential and with high quality and Michael stated that having a
motivated workforce provides the competitive advantage that the organization seeks and
better employee performance helps the organization achieve higher productivity. Identified

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that greater motivation will have a direct effect in improving productivity through greater
effort and possibly innovation. They also stated that motivation leads to a productive with
high performance employee who does the best at work, saves time and effort and also
volunteers to do more than what is required. Such employee will be a great resource to the
business and a great model to be followed by others.
“If employees are motivated and happy they will do to the work to the best of their ability
instead of just doing it because they have to”.
Management is the process of getting things done with the aim of achieving goal efficiently
and effectively.
Planning is the process of organizing the ideas and making the ideas work in the organization
It is a futuristic process which involves the decision of all the employees who are working in
an organization.
Staffing is the process of putting the right person to the right job.
Organizing is the process of helping the employees to organize the persons to do their work
effectively and efficiently with all the smooth functioning
Directing means to check out the performance of the employees in the organization whether
they are working right or wrong all the process of getting things done with the aim of
achieving goals efficiently and effectively.
Cash and Cash equivalent refers to cash in hand, cash at bank, cheques, draft, etc.
Cash management means the management of cash which includes planning of cash,
organizing of cash, investment of cash, disbursement of cash.
Transactions motive includes the outflow and inflow of any business
Every business has to maintain their inflows and outflows for the business purposes.
But there should be a balance between outflows and inflows of the cash
But the cash outflows should not be more than the cash inflows of the business
It shows the

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1.2 PROBLEM IDENTIFICATION
In the modern competitive world, business organizations are facing ever-growing challenges
regarding commitment, engagement, belief, recruitment and retention of their employees.
Multiple studies in different countries and across industries show that employees who are
passionate about their jobs and the organizations in which they work are in the minority. Any
Institution faces the challenges of employee retention, high cost of recruitment, training,
rising competition, increased rules & regulation by the government and high rate of
technological growth. Also, from the perspective of employee, they feel de-motivated and
overworked. For finding out more accurate outcomes we conducted our research within a
branch of the ICICI Securities. The essence of the study is to find out at what level employee
engagement in decision making can motivate the employees to their perseverance and
resolution.

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1.3 NEED AND SIGNIFICANCE OF
STUDY
Motivation is an important tool in the hands of the manager for inspiring the work force and making them
to do work with enthusiasm and willingness. If it’s an important function of the managementto
motivate the people working in the organization to perform the work assigned to them effectively and
efficiently.ThemanagementhastounderstandtheHumanbehaviorifithastoprovidemaximummotivation
to the personnel. Motivation is somethingthat moves a person into action and continues him in the course of
action enthusiastically. The roles of Motivation are to develop and intensify the desire in every member of
organizationtoworkeffectivelyandefficientlyinhisposition.
SIGNIFICANCEOFSTUDY:-
 The study will benefit the management of ICICI Securities and help them to enhance
programs that can motivate their employees and improve their work performance.
 The study would help IT sectors firms to get more information on what practices are
most effective in motivating their employees.

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1.4 LITERATURE REVIEW
In a complex and dynamic environment, leader of the organization used to create the
environment in which employee feel trusted and are empowered to take decisions in the
organization which leads to enhance motivation level of employee and ultimately
organizational performance are enhanced.
Smith and Rupp (2003) stated that performance is a role of individual motivation;
organizational strategy, and structure and resistance to change, is an empirical role relating
motivation in the organization. Likewise, Luthans and Stajkovic (1999) concluded that
advancement 472 Glob Bus Perspect (2013) 1:471–487 123 of human resources through
rewards, monetary incentives, and organizational behavior modification has generated a large
volume of debate in the human resource and sales performance field. According to Orpen
(1997) better the relationship between mentors and mentees in the formal mentoring program,
the more mentees are motivated to work hard and committed to their organization. Likewise,
Malina and Selto (2001) conducted a case study in one corporate setting by using balance
score card (BSC) method and found out that organizational outcomes would be greater if
employees are provided with positive motivation. The establishment of operations-based
targets will help the provision of strategic feedback by allowing the evaluation of actual
performance against the operations-based targets. Goaldirected behavior and strategic
feedback are expected to enhance organizational performance (Chenhall 2005).
Kunz and Pfaff (2002) stated no substantive reason to fear an undermining effect of extrinsic
rewards on intrinsic motivation. Decoene and Bruggeman (2006) in their study developed
and illustrated a model of the relationship between strategic alignment, motivation and
organizational performance in a BSC context and find that effective strategic alignment
empowers and motivates working executives. Leaders motivate people to follow a
participative design of work in which they are responsible and get it together, which make
them responsible for their performance. Aguinis et al. (2013) stated that monetary rewards
can be a very powerful determinant of employee motivation and achievement which, in turn,
can advance to important returns in terms of firmlevel performance.
Garg and Rastogi (2006) identified the key issues of job design research and practice to
motivate employees’ performance and concluded that a dynamic managerial learning
framework is required to enhance employees’ performance to meet global challenges. Vuori
and Okkonen (2012) stated that motivation helps to share knowledge through an intra-
organizational social media platform which can help the organization to reach its goals and
objectives. Den and Verburg (2004) found the impact of high performing work systems, also
called human resource practices, on perceptual measures of firm performance. Ashmos and
Duchon (2000) recognizes that employees have both a mind and a spirit and seek to find
meaning and purpose in their work, and an aspiration to be part of a community, hence
making their jobs worthwhile and motivating them to do at a high level with a view to
personal and social development.

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1.5 OBJECTIVES OF STUDY
 To analyze HR theories and approaches used in the organization to
motivate the employees.
 To examine the impact of motivation on employees work performances in
the organization.
1.6 HYPOTHESIS
H1: There is positive role of HR theories & approaches to motivate the
employees in an organization.
H2: There is positive impact of motivation on employee work
performance in the organization.

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1.7 RESEARCH METHODOLOGY
Research Design: Descriptive.
Sample Size: 40 employees of ICICI Securities
Sampling Technique: Simple random sampling
Data: Primary and Secondary Data.
Data Sources: There are two types of data sources available to the research processes.
1. Primary data. 2. Secondary data.
1. Primary Data: The primary data is collected by using primary methods such
questionnaires and observations etc. For this study questionnaires are used to
collect primary data from the employees of the industries.
2. Secondary Data: Secondary data is collected from various books, websites and old
research reports.
Data Analysis Tool: Percentile and Graphical method.

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1.8 ORGANISATION OF STUDY
Chapter 1: - Introduction- It consists of the detailed introduction of the title of
the project, problem identification, objectives of study, limitation of research and
research methodology.
Chapter 2: - Conceptual framework- This research firstly investigated the
awareness of the motivation theories, approaches and the important is that to be
aware that there are different motivation approaches to motivate different people
and employee’s needs.
Chapter 3: - Data analysis and interpretation- It shows different approaches
and theories of motivation followed in an organization and its impact on
employees’ work performance.
Chapter 4: - Findings and conclusion- It involves all the conclusion drawn from
the research analysis.
Chapter 5: - Recommendations and implications- It involves all the ways and
methods which a company can follow to improve.

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1.9 LIMITATIONS OF RESEARCH
 The main limitation of the study is that we could not collect the information from the
employees of all branches of ICICI Securities.
 We could not collect enough information from the secondary sources due to the
unavailability of the information.
 Analysis is based on the motivation approaches used in IT sector companies and also it
analyzes motivation theories followed by these organizations only.

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CHAPTER: - 2
CONCEPTUAL
FRAMEWORK

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Conceptual framework
This research firstly investigated the awareness of the motivation theories, approaches and
the important is that to be aware that there are different motivation approaches to motivate
different people and employee’s needs. Being aware of motivation theories and approaches
will open the gate to examine its relationship with employee’s performance and that with
business productivity.
Employee Motivation
Money
Appreciation
Recognition
New Roles
Employee’s
Business
Productivity
performance
MotivatedEmployees
Employee Performance and
business productivity

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CHAPTER: - 3
DATA ANALYSIS
AND
INTERPRETATION

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3.1 Motivation Theories Followed by ICICI
Securities
a) Hierarchy Needs of Abraham Maslow’s Abraham: -
Maslow (1908 – 1970) along with Frederick Herzberg (1923) introduced the NeoHuman
Relations School in the 1950’s, which focused on the psychological needs of employees.
Maslow put forward a theory that there are five levels of human needs which employees need
to have fulfilled at work. Before the employee can move to the higher level of the hierarchy,
he/ she has to be satisfied and got the needs from the previous level.
The five levels of needs according on Maslow are: -
1. Physiological Needs: Physiological Needs are the basic needs that every individual
needs to survive. They are like food, air, shelter and water. If these basic needs are not
met, then the employee will not be able to go through other levels.
2. Safety Needs: Safety needs are the needs related the feeling of the employee of
being secure and safe like having the medical insurance, job security, …. etc.

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3. Social Needs- Love & Belonging: These needs are related to the interactions with
other. The relationship of the individual with the people surroundings. Like having
friends and feel accepted from others.
4. Esteem Needs: Esteem is the feeling of being important. Esteem needs are
classified to internal and external needs (Vance &Pravin 1976).
Internal esteems are these related to self-esteem like respect and achievement.
External esteem needs are those such as social status and recognition that comes with
the achievement.
5. Self-Actualization Needs: It is the need of reaching the full potential as an
employee. According to Vance &Pravin (1976) this need is never fully achieved. Self-
Actualization Needs are like truth, wisdom and justice.
There are different ways the organization can satisfy their employees and motivate
them. Money is the number one motivation factor that may satisfy the employee’s
physiological needs as well as the safety needs. Social needs can be met by providing
the employee a workplace in a way that it is easy to communicate and collaborate
with others. Also, organizations get to gather and entertainment activities will build
good relationships between employees from different levels which will satisfy the
social / Love & belonging needs (Bradley, 2003).
Recognitions and rewards either verbally of formally will enhance the self-esteem of
the employee. Finally, providing a challenging job with somehow interesting aspects
will enrich the self-actualization needs of the employee (Gardener and Lambert,
1972).
b) Two-Factor Theory of Fredrick Herzburg: -
In 1959 Fredrick Herzburg introduced a theory with two motivation factors. The two
factors are hygiene factors and motivators. The theory explains the factors that
motivate employees by identifying their individual needs and desires. The
dissatisfaction factor is called “hygiene” and the satisfaction factor is “motivators”.
1- Hygiene factors: - Hygiene factors are organization related. Like the policies and
procedures, salary and job security. Dissatisfaction comes if these factors are not
existed in the workplace. It simplifies the physiological needs which the employees
expected and need to be satisfied (Bradley, 2003).
2- Motivator factors: - Motivator factors determine satisfaction. They are intrinsic
factors such as sense of achievement, recognition, responsibility, and personal growth
which motivate employees for a greater performance (Bradley, 2003).

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Two factors theory of Fredrick Herzberg
3.2 Approaches used by Co. to motivate employees
Despite the variety of number of theories have been studied by researchers, they have come
to increasingly emphasize on the importance of different motivation approaches toward
employee’s performance.
Motivation approaches have been defined as tools and techniques which can be used to
motivate employees. Some of the approaches are:
NON-MONETARY INCENTIVES
Praise:-one of the effective methods is being used to motivate individuals. Saying thanks
and admire individuals is the most commonly ways of motivating employees. It is easy to
use, and it is said usually from the heart and naturally. Looking on the employee’s eyes in
front of others and say thanks, really means a lot. Employees appreciate being recognized for
doing a great job and the feeling of being valued as an individual. The praise tends to carry
even greater meaning and motivational effect stated that praise was the response of the most
of employees who surveyed about motivation. Also, attendees from different seminars about
motivation agreed that praise is the most important thing when motivating employees. In
addition to that, ID clarified that praise is the most powerful of human needs. When it comes
to get the best performance from employees, praise should be on the top of the motivation
approaches list. When employees feel that their managers appreciate and praise them, they
tend to perform better which leads to higher business productivity. So, the more managers’
praise their employees, the easier the tasks will be and the more productive they will be.
Furthermore, when managers look around for a way to complement their employees on their
work, it is a large drive shot. It is served to let employees know that their work and what have
been accomplished by them so far is appreciated.

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Recognition: - it is a useful positive tool where usually people get recognized by their
work and job done and based on that they receive recognition. Employees work harder when
they are recognized and appreciated for their effort toward the work and tasks have been
given and this is a simple, easy and powerful strengthen system. When employees get
recognized and appreciated, they do their best to prove the skill, talents and abilities they
have. Furthermore, recognizing employees is also considered a way of communication that
strengths and rewards the outcomes people create for your business. For that, leaders should
develop recognition system which is powerful for both employees and organization.
Employees who feel appreciated and recognized are more positive about themselves and their
abilities to contribute. It also guarantees positive, productive and innovative organization
environment. Saying thank you as recognition will make the business successful.
Assigning New roles: - Usually satisfied employees who are given higher roles and
responsibilities work as motivators toward unsatisfied employees.
In order for employees to successfully take the new role, they should be given specific
directions and expectations. They also are more open to the new responsibilities when they
feel supported and have all the resources to perform the job.
Employees who are given new role and high responsibilities are motivated to work harder
because they see that all their effort in work will accomplish positive results and based on
that they will receive recognition.
Management Style: -Most researchers agreed that in order to motivate employees and
get the desired outcome from them, we need leaderships, not managers. So, being a leader
instead of a manager is more important for motivation. Helping employees to become more
successful on their career and to be recognized and appreciated is the key concern of leaders.
A basic role of leaders is that they have to understand their employee’s needs and rank the
importance of them and be aware of what their employees enjoy most about the work in order
to adopt motivation. To be a motivator, it is important to be a leader in order to discover
what really motivates employees and it is necessary to discover the fundamental needs of the
employees. One of the reasons that motivators can successfully be motivators because they
understand that every employee should be motivated differently which are not the
characteristics of the managers and they need time to outline it.
True and real motivational leaders are those who are self-motivated to energize others. Also,
they demonstrate qualities that develop responses to success. In order for a leader to be a
successful motivational leader they need to have knowledge and skills, always confident
toward their abilities, have the commitment and energy and very winning communicator.
Hence, management style refers to the involvement of employees in decision making process.

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Vouchers: -Gift vouchers and prepaid cards remain by far the most popular option
amongst employers; industry experts estimate the business to business voucher and gift card
market – mostly employee rewards – represents around 45 per cent of the UK’s overall gift
card sales, which rose 4.6 per cent last year to total around £5 billion. Employers choose
them because of their convenience and flexibility, and because they believe gift cards leave a
more favourable impression upon employees than cash incentive. Allowing them to accrue
rewards to spend on quality brands. A recent study conducted showed that employees
surveyed say they like more to get gift cards instead of cash incentive as these pays off their
hard work and keep them motivated.
Wellness program: -The goal of the wellness program is to help employees adopt and
maintain healthy behaviours. It is best when employees are internally motivated to be
healthy. But sometimes employees get stuck in unhealthy habits and they need help adopting
and maintaining healthy behaviours. The best way to do this is to provide small incentives,
such as gift cards, to randomly selected employees who successfully complete different
aspects of a corporate wellbeing program. We have great published evidence that this
incentive approach works. It is the incentive approach that Well Steps recommends to all of
our clients. Employers get even greater adoption of employee health behaviour with a
benefits-based incentive plan. Benefits-based wellbeing incentive programs typically offer
employees a discount on their insurance premium, paid time off, a contribution to an HSA or
HRA, or a lower co-pay or deductible as an incentive.
MONETARY INCENTIVES
Salary Satisfaction: -This is the temporary approach that is being used to motivate
employees. Most of the researches and studies have proved that money and payments are
important to employees relative to other motivators as earning a lot of money is an advantage
for pushing toward motivation. It clarifies that when employees are satisfied financially, they
motivate at work and work hard. If employee will remain satisfied with he will feel motivated
and work positively. Employer must keep in mind that salary of employee will be equal to the
salary which are provided by other companies in the market especially, the rival one so that
employee must not feel demotivated and remain committed towards his work. As salary is the
important factor and their lifestyle depends upon it. So, to keep employees happy satisfied
one must pay them a competitive salary.
Increments: - Financial aspects like payments, allowances, salaries and bounces increase
and affect employee’s productivity positively as a result of a study which has been done have

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concluded that introducing of individual pay, increase productivity rate from 9% to 17%. So,
it is obvious that when employees are motivated and satisfied, their productivity increases
which adds value to the whole business. Also, have done analysis on motivation programs
and productivity, they found that financial aspects and payments are the largest effect on
employee’s productivity. Furthermore, fact came into existence that paying and salary
increments for individuals from the organizations, increases the productivity.
Furthermore, for employees to feel safe in terms of work, they prefer getting good increments
and allowances rather than receiving appreciation. Yes, appreciation is important in order for
employee’s motivation, but the previous statement explains that good incentives are more
important. On the other hand, when employees get high performance rate and a very good
appraisal, they appear to be sensitive to whether their performance will be rewarded by
money and pay increase or not. So, money concerns are always there and it is important for
employees to work and give.
OTHER INCENTIVES
Drive reduction approach: -The drive reduction approach is proposed by it searches
for the relationship between needs and the fulfillment of needs. This approach believes that
every person has certain drives that create a feeling of tension from people. To reduce such
feeling, the person behaves in a certain way that will stop the concerns. It is suggesting that a
lack of some basic biological requirement such as water produces the drive to obtain the
water. Furthermore, to clarify it, drive reduction theory is defined as the organisms are born
with psychological needs and when they need are not satisfied they produce negative states of
tension. The drive is reduced when their needs are satisfied and achieved.
Cognitive approach: -Cognitive approach is concerned about individuals’
understandings, believes, thoughts, perceptions and expectations and it mainly seeks the
differences between Intrinsic Motivation and Extrinsic Motivation. As Intrinsic motivation is
the process where people act for their own enjoyment. On the other hand, extrinsic
motivation is the process where people participate in an activity for a tangible reward and
outcomes. “One cognitive approach to motivation, called expectancy-value theory, focuses
that the probability of occurrence of behavior depends upon individuals' perception of the
value of a goal as well as their expectation of reaching it. Variations of the theory have been
used to study such motives as the need for achievement and the need for success. The
relationship between individual characteristics and motivation has been discussed as a
cognitive motivational theory.

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Training: -Each employee contributes to an organization's overall function. Only, not
everyone sees how that occurs. Employees with specific and limited scope jobs can easily
come to feel they are just a cog in the wheel whose work may not be that important. Training
can help employees understand how their work fits into their company's structure, mission,
goals and achievements. As a result, employees can become more motivated and excited
about their work as they understand how what they do matters to the success of the
organization. Employees often know as well or better than managers when their work,
processes or productivity could be better. In many cases, employees are missing the tools,
education or organization to achieve their potential. Training--particularly for departments,
workgroups and teams--can help get things on track to improve work quality and outcomes.
As a result, people feel happier in their work and more excited about the prospects of success.

27 | P a g e
The analysis regarding impact of motivation approaches are as follows: -
1. Does Praise and Recognition by Management, Seniors and colleagues positively
affects your performance?
CATEGORY FREQUENCY PERCENTAGES
Fully Affects 17 42.5%
Partially Affects 14 35%
Does Not Affects 9 22.5%
Total 40 100%
Interpretations: -The above table shows that 42.5% employees are fully
influenced by motivation approach (praise and recognition) followed by organization in
a positive manner. Hence, we can say that work performance of majority of employees
will increase by this incentive.
0
2
4
6
8
10
12
14
16
18
Fully Affect
Partially Affect
Does Not Affect

28 | P a g e
2. Do “Assigning New Roles” to you by manager will affect your performance in
positive manner?
Fully Affect 16 40%
Partially Affect 17 42.5%
Does Not Affect 7 17.5%
Total 40 100%
Interpretations: -The above table shows that 42.5% employees are partially
influenced by assigning new roles as motivation approach followed by organization in a
positive manner. Hence, we can say that work performance of majority of employees
will neither increase nor decrease.
0
2
4
6
8
10
12
14
16
18
Fully Affect
Partially Affect
Does Not Affect

29 | P a g e
3. Does involvement in decision making process will affect your performance in
positive way?
Fully Affect 19 47.5%
Does Not Affect 10 25%
Total 40 100%
influenced by involvement in decision making as motivation approach followed by
organization in a positive manner. Hence, we can say that work performance of
majority of employees will increase.
0
2
4
6
8
10
12
14
16
18
20
Fully Affect
Partially Affect
Does Not Affect

30 | P a g e
4. Does use of vouchers and wellness program by management affects your
performance and motivates you in positive manner?
Does Not Affect NIL NIL
Total 40 100%
influenced by use of vouchers and wellness program by management as motivation
approach and it also affects them in positive manner. Hence, we can say that work
performance of majority of employees will increase.
0
5
10
15
20
25
Fully Affect
Partially Affect
Does Not Affect

31 | P a g e
5. Does salary satisfaction influence or affects your performance in positive
manner?
Total 40 100%
Interpretations: -The above table shows that 42.5% employees are partially
affected by use of salary satisfaction by management as motivation approach and it also
affects them so much in positive manner. Hence, we can say that work performance of
majority of employees will neither increase nor decrease.
0
2
4
6
8
10
12
14
16
18
Fully Affect
Partially Affect
Does Not Affect

32 | P a g e
6. Does any type of increments in salary, wages or in cash will affect your
performance in positive way?
Does Not Affect NIL NIL
Total 40 100%
affected by increments in salary etc. as motivation approach and it also affects them so
much in positive manner. Hence, we can say that work performance of majority of
employees will increase.
0
5
10
15
20
25
30
35
Fully Affect
Partially Affect
Does Not Affect

33 | P a g e
7. Does Drive Reduction Approach affect your performance in positive manner?
Partially Affect 24 60%
Does Not Affect 7 17.5%
Total 40 100%
Interpretations: - The above table shows that 60% employees are partially
affected by drive reduction approach use by management as motivation approach and it
also does not affect them so much in positive manner. Hence, we can say that work
performance of majority of employees will neither increase nor decrease.
0
5
10
15
20
25
30
Fully Affect
Partially Affect
Does Not Affect

34 | P a g e
8. Does cognitive approach used by management affects you in positive way?
Total 40 100%
Interpretations: - The above table shows that 47.5% employees are partially
affected by cognitive approach use by management as motivation approach and it also
does not affect them so much in positive manner. Hence, we can say that work
performance of majority of employees will neither increase nor decrease.
0
2
4
6
8
10
12
14
16
18
20
Fully Affect
Partially Affect
Does Not Affect

35 | P a g e
9. Does training used by management as motivation approach affects your
performance?
Total 40 100%
affected by training use by management as motivation approach and it also affects them
so much in positive manner. Hence, we can say that work performance of majority of
employees will increase.
0
5
10
15
20
25
30
Fully Affect
Partially Affect
Does Not Affect

36 | P a g e
10. How much you are satisfied with overall motivation approaches followed in your
organizations?
Fully Satisfied 15 37.5%
Partially Satisfied 21 52.5%
Does Not Satisfied 4 10%
Total 40 100%
Interpretations: - The above table shows that 52.5% employees are partially
affected overall motivation approach and it also does not affect them so much in
positive manner. Hence, we can say that work performance of majority of employees
will neither increase nor decrease.
0
5
10
15
20
25
Fuuly Satisfied
Partially Satisfied
Does Not Satisfied

37 | P a g e
CHAPTER: - 4
FINDINGS AND
CONCLUSION

38 | P a g e
FINDINGS: -
1. There are two motivational theories that are being followed in ICICI Securities I.e.
Hierarchy Needs of Abraham Maslow’s Theory and Two-Factor Theory of Fredrick
Herzburg.
2. All the motivation approaches are being followed in ICICI Securities i.e. praise,
involvement in decision making, assigning new roles, vouchers etc.
3. Non- incentives approaches are the best way to motivate employees as they lay down
a positive impact on their work performance i.e. increase their level of performance
and ultimately will increase the productivity of organization as employee performance
is directly related to the productivity of organization.
4. Monetary incentive approaches of motivation increase the performance of employee
but they are the temporary source of motivation and as compared to non-monetary
incentive these are less effective.
5. Other incentive approaches are the most inappropriate way of motivating employees
as they do not increase the performance of employees. In these approaches
organization can use training as it will lead to increase in performance of employees.
6. Overall work performance of the majority of the employees is neither increasing nor
decreasing as motivation approaches does not affect the performance of employees.

39 | P a g e
Conclusion: -
The findings provide a clear insight that the relationship between motivated employees, their
performance and business productivity. In conclusion, motivated employees not only
influence their work performance but also the whole organization performance and business
productivity. Every member in the organization has some requirements and expectations from
the organization from the first day he/she join the company. He/she might not be aware of
how to achieve these needs and goals, and here the role of the line manager and the division
manager comes in the picture. To be a motivator, it is important to be a leader in order to
discover what really motivates employees and it is necessary to discover the fundamental
needs of the employees.
The study concluded that employees were not happy with the monetary incentives given by
ICICI Securities It can be observed that the organization did not use monetary rewards to
motivate employees and that the employees perceive money as a crucial incentive to work
motivation. It can also be concluded that the organization did not have a competitive payment
and benefits package when compared to other companies in the industry and additionally, the
current pay policy did not attract and retain high performing employees.
The study concluded that use non-monetary incentives such as recognition and rewards to
motivate its employees. Moreover, the employees viewed the current recognition and reward
program as being inequitable. It was also observed that the employees of the organization
found it important to be recognized by both management and co-workers for a job well done.
From the study, it can be concluded that the organization had not increased performance or
observed long term improvement as a result of the reward system in place.
To define employee performance is the way the individual is performing and behaving.
Employee performance is not just tasks and work to be done just to get bonus or pay increase.
It is an ongoing process where the main objective is to improve both individual and business
performance. Moreover, employee’s performance is a process used in most organizations in
order to determine the abilities and productivity of the employees and usually employees set
their objectives and goals for the upcoming period; they do the best to achieve it, monitor it
and develop the right skills.
It is also a way to evaluate employees on their effectiveness at work in the organization
through performance appraisals which looks at the weaknesses and strengths of the individual
to determine where they might improve sated that employees with high performance rate are
usually willing to give an extra effort to the organization when it is required. Also, more
motivated employees are tending to be more loyal to their organization and hence producing
attractive outputs. Furthermore, most of the researchers found that motivation helps improve
the power of the individual toward the work. most of the researchers see that there is obvious
relationship between motivation and employee performance and if employees are motivated,
they will produce better. Also, better performance will lead to high achievements and will
result in greater motivation

40 | P a g e
CHAPTER: - 5
RECOMMENDATIONS
AND IMPLICATIONS

41 | P a g e
RECOMMENDATIONS: -
a) Organization (ICICI Securities) can use promotion as their motivation tool as every
employee work for promotion and to go get incentive as promotion each of them will
improve their work performance.
b) Organization can also provide medical, health, transport and other monetary
incentives as allowances and this will motivate employees to grab those allowances
and which will enhance their performance.
c) Organization can provide competitive salary to their employees in order to increase
salary satisfaction among employees which leads to motivate them for work.
d) Organization can also provide training to employees by the way of transferring
him/her from one department to another and due to this they will gain the knowledge
of each and every department and this will motivate him/her to work for organization.

42 | P a g e
IMPLICATIONS: -
a. This study will be helpful for the HR department of the company.
b. Study will also be helpful for the researcher.
c. It will be useful for the employees of organization.
d. Last but not the least, it will be useful for the students of B. Com, BBA, MBA and Job
seekers.

43 | P a g e
Appendices: -
1. Does Praise and Recognition by Management, Seniors and colleagues positively
affects your performance?
a) Fully Affects
b) Partially Affects
a) Does not affects
2. Do “Assigning New Roles” to you by manager will affect your performance in
positive manner?
a) Fully Affects
c) Does not affects
3. Does involvement in decision making process will affect your performance in
positive way?
a) Fully Affects
c) Does not affects
4. Does use of vouchers and wellness program by management affects your
performance and motivates you in positive manner?
a) Fully Affects
c) Does not affects
5. Does salary satisfaction influence or affects your performance in positive
manner?
a) Fully Affects
c) Does not affects
6. Does any type of increments in salary, wages or in cash will affect your
performance in positive way?
a) Fully Affects
c) Does not affects

44 | P a g e
7. Does Drive Reduction Approach affect your performance in positive manner?
a) Fully Affects
c) Does not affects
8. Does cognitive approach used by management affects you in positive way?
a) Fully Affects
c) Does not affects
9. Does training used by management as motivation approach affects your
performance?
a) Fully Affects
c) Does not affects
10. How much you are satisfied with overall motivation approaches followed in your
organizations?
a) Fully Affects
c) Does not affects

45 | P a g e
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