Employee Motivation Strategies In Kenya's MicroFinance Sector

Abstract

The aim of this study was to evaluate employee motivational strategies in Kenya Women Finance Trust which is a deposit taking microfinance. Specifically the research study evaluated the effects of achievement on employee motivation at KWFT, assessed the effects of recognition on employee motivation at KWFT, analyzed the extent to which interest in the job affects employee motivation at KWFT and explored the importance of career advancement on employee motivation at KWFT. Descriptive research design in form of a survey was used. The 36 Business Development Officers working in KWFT branches in Nairobi Central, Nairobi West and the Headquarters were used in this study. A census was used to select all the 36 officers in the Branches. A questionnaire was used for data collection. Descriptive statistics such of means, Standard deviation and frequency distribution were used to analyze the data. The data was represented in form of frequency tables, graphs and pie charts. A regression model was generated to establish the relationship between the dependent variable (employee motivation) and the independent variables (achievement, recognition, interest in the job and career advancement). The regression model showed that career advancement (X4) had the greatest effects on employee's motivation with a coefficient of2.106. This was followed by achievement (X) with a coefficient of 1.482, Interest in the job(X3) followed with a coefficient of 1.218 and finally recognition for achievement (Xi) 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.