C/HR/16. Motivation in Banking Industry: Cross-Country Comparison

The focus of this Dissertation is Cross-cultural analysis of motivational factors that shape employees level of motivation in Russian and UK banks. It critically evaluates vital subconstructs, that determine motivational level and then relates this to the Literature Review and Primary Data Analysis. The review of existing literature on motivation related issues identifies the absence of universal techniques and approaches in measuring motivation level within an organization, in particular within banking industry environment. Due to the complexity of "motivation" phenomenon and absence of empirically proven measurement tools, the phenomenological paradigm is chosen to explore the issue. The research develops and tests the measuring inventory. The difference between UK and Russian banks' employee's perceptions is explored with the application of qualitative and quantitative techniques. The developed measuring tool is tested on the purpose of fit. It proves adequate fit within UK context, but faces certain difficulties when applying to the Russian bank. However, it does not significantly affect the power of the research, as the factor analysis is used as reliability tool, rather than in terms of exploratory tool. The findings from both questionnaires are descriptively analyzed. The analysis of ranking scores showed the different priority of motivational constructs across the cultural boundaries. The decision to compare the different constructs according to their ranking priorities is taken as it fits in the "maintenance theory" framework. The findings are mapped in order to provide a clear visual picture of current motivational levels in both banks and identify the zones of improvement. The study has certain limitations due to its chosen research and methodological strategy, inherent features of human nature and particularities of the chosen cultural segments. The paper meets its aim through the set objectives. It devised the appropriate approach for measuring the motivation level in banking industry across the cultures. The specific model was developed and tested. The testing procedure and comparative analysis identified certain difficulties, which can be attested to the fact that Russia and UK can be attributed to different cultural clusters. Despite it, the study proved the possibility of cross-cultural comparative analysis even between culturally diverse countries as UK and Russia. The relevant solutions for improving the motivation in both banks were introduced, with specific focus on every one.