Staff labor motivation system reengineering through key performance indicators of an enterprise

Abstract

The purpose of this thesis is to justify theoretical provisions and develop methodical and practical recommendations on improving current motivational system of a financial institution through key performance indicators. In this master’s thesis, the theoretical basis of staff labor motivation system reengineering through key performance indicators of an enterprise is discussed, the definition of motivation stated by different authors and scholars, the various theories of motivation developed by different researchers are considered, the various types of motivational system are disclosed as well as wage system, the key performance indicators of motivation, a detailed wage system and its types are justified. The pros and cons of using different types of wage system are discussed in details. In the analytical part of the thesis, general analysis of Guaranty Trust Bank, its product, main activities and achievements is conducted; an analysis of its management structure is done. The analysis of technical and economic indicators of Guaranty Trust Bank for 2 years (2018-2019) is executed, as well as the financial analysis of the bank’s activity, vertical and horizontal analysis of assets and liabilities is performed and results are discussed. Vertical and horizontal analysis of income statement is also carried out. Dynamics of basic technical and economic Indicators, profitability ratio, liquidity ratios are calculated and discussed in details. Analysis of improving the motivational system of Guaranty Trust Bank was performed. SWOT analysis was conducted and results of this analysis are explained accordingly, also, a problem chart was made which has help to see the link between the most important problems. These problems are basically associated with lack of employee retention and lack of intrinsic motivation in the entire company. The need to improve the business communication is also discussed. In the project part of the thesis, the identification of the type of motivational system that will be reasonable for Guaranty Trust Bank is made, an analytical hierarchy process is performed and the choice of the best motivational system is determined, the process of implementation of the motivational system is made and different trainings and communication key performance indicators are suggested. The economic efficiency for recommended measure is calculated and a suitable conclusion is made based on the result of the study.