Employee Motivation Strategies in Kenya’s Microfinance Sector

Abstract

The aim of this study was to evaluate employee motivational strategies in Jonani Women Trust (JWT) which is a deposit taking microfinance institution. Specifically, the research study evaluated the effects of achievement, recognition, interest in the job and career advancement on employee motivation at JWT. Descriptive research design was adopted. The target population included all Business Development Officers. Self-administered questionnaires were used to collect data. A regression model was generated that showed that career advancement (X4) had the greatest effects on employee’s motivation with a coefficient of 2.106. This was followed by achievement(X1) with a coefficient of 1.482, Interest on job(X3) followed with a coefficient of 1.218 and finally recognition for achievement(X2) with a coefficient of 0.942. In order to motivate employees this study recommends that; organizations set goals that are moderate and achievable, not only pay salaries and wages that are competitive, but also cultivate interest in the job and endeavor to build a respectable corporate culture and image that will position their organizations as employers of first choice. Microfinance organizations should also endeavor to motivate employees through comprehensive and proactive career development programmes.