Factors Influencing On Target Attainment Of Bank Employees: A Comparative Study Between State And Private Banks In Kandy

Abstract

The business context of organization is an ever-changing environment. Commercial banks in Sri Lanka are facing stiff competition necessitating the design of competitive strategies to guarantee their achievement of targets. This study intends to investigate what are the factors need to be fulfilled to attain employees' target in the banking sector in Kandy. The present study analyzed the factors influencing on target attainment of bank employees under five variables which are management support, financial resources, reward system, team work and organizational culture. The study accompanies with the quantitative research approach. Primary data as well as the secondary data had been used for this study. A structured questionnaire was used as the method of data collection and questionnaire consists with two parts which are personal information of the respondents and research information of the respondents. The population of the study comprised of four commercial banks which are licensed by the central bank of Sri Lanka. The sample size was 228 respondents who are selected by using the stratified random sampling method. The collected quantitative data was analyzed using descriptive statistics with the use of SPSS version 20.0. Descriptive statistics such as frequencies and percentages used to describe the quantitative data. In addition, the study conducted correlation analysis, as well as simple and multiple regression analysis. The study found that variables have a strong positive relationship with the target attainment of bank employees' and those variables have a significantly effect on target attainment of bank employees. The study recommended that state and private banks should come up with strategies to train the management teams to improve their targets attainment and also banks should allocate enough financial resources to attain their targets. As well as, this study furthermore recommended that the harmonization of schemes of service within private and state bank that every individual is rewarded appropriately and banks should encourage a culture in which employees are allowed to understand how the organization operates, vision, mission and goals that guide all stakeholders. Finally, the study has been limited to investigate in banking sector in Kandy city only in Central province.