Impact Of Rewards And Recognition Management Essay

Published: November 30, 2015 Words: 4874

In this chapter background information about employee satisfaction will be discussed based on research done in the past. Studies that have been conducted on the topic indicates that the most common problem in organizations today is that they miss the important element of recognition, which is the low-cost, high-return ingredient to a well-balanced reward system. A main focus of recognition is to make employees feel appreciated and valuedSarvadi (2005). Studies have proven that employees who get recognized are tend to have higher self-esteem, more confidence, more enthusiastic to take on new challenges and more willingness to be innovativeMason ( 2001).

Nowadays organizations are recognizing more and more that they have to establish a reasonable balance between the employee's contribution to the organization and the organization's contribution to the employee. Creating this balance is one of the main reasons to reward and recognize employees. Organizations that follow a strategic approach to creating this balance focus on the three main components of a reward system, which includes, compensation, benefits and recognition Deeprose (1994).

"A milestone in the successes of an organization is to fulfill the continuous changing needs of organization and employees; full responsibility falls on top management to develop solidrelationship between them. Organizations expect employees to follow the rules and regulations, work according to the standards set for them; the employees expect good working conditions, fair pay, fair treatment, secure career, power and involvement in decisions. These expectations of both parties vary from organization to organization. For organizations to address these expectations, an understanding of employees' motivation is required" Beer (1984).

Background of the study

Employee satisfaction or lack of it cuts on a productive, fulfilling relationship between staff and management; indeed, the success of any organization depends on staff members who enjoy their jobs and feel rewarded by their efforts. It is an obvious statement but "high employee satisfaction levels can reduce employee turnover" (Hurley &Estelami, 2007).Employee satisfaction is essential to the success of any business. A highrate of employee contentedness is directly related to a lower turnoverrate. Thus, keeping employees' satisfied with their careers should be amajor priority for every employer.The knowledge of employees is viewed as a crucial strategic source for organizations in order to survive in a constantly changing environment Poell (1998). Organizations are forced to expand their flexibility and adaptability which can be achieved by developing their employees professionally (Boxall & Purcell, 2003; Paauwe, 2004; Poell, Chivers, Van der Krogt & Wildemeersch, 2000). Moreover, new management models are characterized as "non positional, team based, and empowering" (Ellinger, Ellinger& Keller, 2003, p. 436). Due to these new models, managers need to encourage, coach, and facilitate employees' learning and development (Feldman & Moore, 2001; Hotek, 2002; Lang & Wittig-Berman, 2000; Mac Neil, 2001; McGill & Slocum, 1998).

According to Thornhill and Saunders (1998), the managers often play a critical role in the professional development of employees, as they are expected to develop their subordinates and facilitate learning (Beattie, 2006; Feldman & Moore, 2001). Not only the manager influences the

professional development of employees, the employees themselves exert influence overtheir own development Van der Krogt ( 2007). Employees act according to their own beliefs, interests, strategies, norms, and values, or in other words, according to their personal action theory (Argyris & Schön, 1978). Employees also have their own individual reasons why they want to learn which are called learning motives Markus ( 2006). When one has a certain learning motive,

one could be expected to participate in a certain learning activity in order to gain knowledge and/or skills (De Hoon, 2008; Geerts, 2006; Vercoulen, 2006).

It is important that employers care about the happiness of their employees. Recent statistics show that throughout their careers,American workers hold an average of eight jobsRudman(2003). The rate of turnover because employees are unhappy is alarming. Even is an economic downturn,

employers must spend an enormousamount of money recruiting new employees, going through the hiringprocess, and finally training new employees. Dissatisfaction has much negative sideeffects for the company, while satisfaction results in amuch better retention rate.

The effects of dissatisfaction that results in an employee'swithdrawal from job and company can range from mild to severe.Tardiness, in showing up for work and coming back from breaks, showsa lack of interest by the employee for his or her responsibilities. Thismay escalate to the employee not showing up to work entirely. Someless obvious signs of withdrawal from the job include: takingcare of personal matters while at work, playing games, engaging in non-workrelated talk, spending time on social networks, and diminishing jobperformance. These withdrawal behaviors, when evidence ofdissatisfaction, may end with an employee leaving theworkplace; "theheuristic model posits that thinking of quitting is the most probableoutcome of job dissatisfaction" (Koslowsky & Krausz, 2002). Therefore, withdrawal will lead either to the employee voluntarily leaving theorganization or being terminated for unprofessional behavior. Happiness in the workplace leads to much higher levels of productivity.It increases employee morale; therefore employees aremore willing to work harder to improve the company and its goals.According to Branham (2005), "Gallup studies show that businesseswith higher employee satisfaction also have:

• 86% higher customer ratings

• 76% more success in lowering turnover

• 70% higher profitability

• 44% higher profitability

• 78% better safety records."

Companies need good, knowledgeable employees. If these employees are not treated fairly, they

are going to take advantage of other job offersthat will provide more stability, more benefits, and more compensation.

Although compensation means something different to individuals, organizations and society, it is important to all. For individuals, compensation is not only the return of benefits, but it also reflects on individuals' capabilities or achievements Ali (2009). For organizations, compen- sation is a cost or expenditure, as well as an important tool to obtain competitive advantages. Within society, compensation not only influences wealth distribution, but also symbolizes social equity and justice. Therefore, the diversity of implications and influences of compensation are profound Chang (1996). A compensation system is an encouragement design whereby the contribution of employees is returned. An effective compensation system can stimulate employees to work harder, thus increasing productivity Lin (2000), and enhancing job performance.

A compensation system is an encouragement design whereby the contribution of employees is returned. An effective compensation system can stimulate employees to work harder, thus increasing productivity (Lin, 2000), and enhancing job performance. Henderson (1979) divided compensation into a reward system and non-reward system. In the former, enterprises distribute the returns to employees by money and various recompenses; in the latter, enterprises provide spiritual, psychological and physical welfare activities to employees

The Purpose of the study

The purpose of this study is to investigate whether rewards and recognition has an impact on employee satisfaction and motivationby presenting a toolkit to measure employee satisfaction and perceived labour productivity and job responsibility as affected by different workplace strategies.

Research Question

How does the impact of rewards, recognition and motivation influence, Job responsibility and

Employees' Satisfaction?

Sub questions

How does Salary compensation influence the employee's satisfaction?

To what extend canJob responsibility and employee satisfaction be measured?

What is the importance of recognition in an organization?

Limitations

This investigation will only include the dependent variable: Employee Satisfaction and the independent variables: Salary; Job Responsibilities and Recognition of the research model. This investigation will not analyze the dependent variables: Service quality; Cost of service; Servicedelivery efficiency of the research model. This investigation will not analyze the independent variables: Job advancement; Supervision style and Working environment of the research model.

Setup of the Thesis

This thesis is compounded of five chapters, this thesis starts with explaining the background of the study and then this background is narrowed down to a research question. In chapter two you will find different theories about that are based in the research question. Chapter three deals with the research methodology including pre understanding, quantitative research, scientific approach, data collection, data analysis, validity and reliability. Chapter four is the analysis part ofdata collected from the focus groups. Chapter five is the last chapter and this chapter is dedicated to findings and conclusions on the result from the data analysis. As well, problems, recommendations and limitations are also given here for the future to improve the quality of the research in this field.

Chapter 2 LITERATURE REVIEW

2.1 Introduction

This chapter will give a description of Employee Satisfaction being the dependent variable in the conceptual model and the correlation between Employee Satisfaction and the chosen independent variables: Salary;Job Responsibility andRecognition. In order to explain the variables and underline their link with Employee Satisfaction, an intensive literature review will be conducted.

2.2 Conceptual Model Employee Satisfaction

Various researches have indicated that employee satisfaction has a significant impact on employee retention and quality of life. However, there is still a need to explore more about employee satisfaction, and its link to motivation and recognition. Employees are also one of the main highly cost resources. It looks like that satisfied employees in most organizations are a critical requirement to satisfy both internal and external customers as well as the performance of the organization (Saura, Frances, Contri, & Blasco, 2008).

The conceptual model was developed by Piriyathanalai and Muenjohn (2008) The model has fourdependentvariables (yellow): Employee Satisfaction; Service cost or cost effectiveness; On-time service delivery and Service quality and 6 independent variables(blue): Salary, Job advancement, Supervision style, Job responsibility andRecognition. More specifically, the research variables consisted of six independent factors and four dependent factors. Six independent factors were divided into three extrinsic motivators and three intrinsic motivators. They are as follows:

Extrinsic motivators: Supervision style; Salary and Working environment

Intrinsic motivators: Job responsibilities; Job advancement and Recognition.

Figure 2.1: Research Model

Source:Piriyathanalai & Muenjohn2008

2.3 Employee Satisfaction

Employee satisfaction- or lack of it - hinges on a productive, fulfilling relationship between staff and management; indeed, the success of any organization depends on staff members who enjoy their jobs and feel rewarded by their efforts. It is an obvious statement but high employee satisfaction levels can reduce employee turnover (Hurley & Estelami, 2007).

Robbins (2003) illustrated unhappy employees have the tendencyto perform below their capabilities, resulting in high turnover of staff, leaving their works relatively quickly and are not very likely to recommend the company as an employer to anyone else. On the other hand, satisfied employees are the ones who go the "extra mile" to be helpful to the clients. When employees are unhappy, an unpleasant atmosphere will spread throughout the workplace; clients and visitors will feel the "bad influence" and the entire environment will suffer. These employees often direct their unhappiness to their clients. Too often, attracting and keeping quality employees in order to achieve that goal is swept under the rug. Creating an environment where employees who are "real jewels," are admired, polished, and appreciated will result in an organization's enhanced performance. Furthermore, pushing out the employees who are "fake jewels" is necessary to maintain morale of the good performers.

The costs associated with low employee morale are expenses associated with decreased productivity, unresolved conflict, and unproductive time spent gossiping and complaining to co-workers or employee turnovers. Employee retention and turnover are the most objective measures of employee satisfaction/dissatisfaction in organizations. The Harvard Business Review reports that a 5% increase in retention results in a 10% decrease in cost and productivity increases ranging from 25% to 65% Robbins (2003). Appelbaum (2005) stated many organizations believe that employee compensation is the main factor in employee satisfaction, reason why employers attempt to "buy" employee satisfaction with rewards and benefits. In today's competitive business environment, this approach can only be taken so far. Fortunately, there is a much less expensive way to create greater employee satisfaction. It is practically cost free and it increases productivity that significantly improves the "bottom line."

Attracting employee satisfaction and motivating them to the extreme service quality and organization performance is important for the success of any organization. However, many organizations do not pay attention to this efficient driving engine. Nature of the work, working conditions, employment status, job advancement, salary earnings, role and responsibility, supervision of supervisor & etc. provide this link. In the past, employees have been associated with only the old- fashion, traditional definition of "performance", such as punctuality, compliance with organization's policies, rules, regulations, and requirements established by top management (Baki, Basfirinci, Cilingir & Murat, 2009).

Today's employees manipulate their tasks and, increasingly compete with other employees to become best service quality performers in order to be number one of the organization who wins the best service quality award. In an effort to improve such service quality, productivity, profitability and limit job turnover, many logistics business organizations energetically move from behind-the- scenes service providing, boost their employee's individual satisfaction with their jobs and working conditions, salary, fringe benefits to enhance the organization strength in order to compete with others companies in the business (Saura, Frances, Contri, & Blasco, 2008).

2.4 Salary

Compensation is an important tool in human resources. An effective compensation system design significantly influences organizational development by revealing external competitiveness, internal equity and individual equity. External competitiveness attracts talent, and internal equity helps companies to retain talent by ensuring that employees and colleagues making the same contributions obtain the same compensation. Individual equity allows employees to feel that their potential is fully rewarded; thus, they are encouraged. The connection between compensation systems and overall organizational strategy has become a significant challenge in compensation management of the 21st century (Balkin & Gomez-Mejia, 1990).How enterprises can maximize advantages from compensation systems is the most critical issue facing human resource managers Alam (2009).

Only a few small and medium enterprises are concerned about compensation systems and compensation equity, and are thus willing to construct a long-term system of care for employees. The owners of small and medium enterprises would first like to know if compensation strategies can satisfy employees Alam (2009). What do employees want? What is the best for employees? Will a compensation system enhance the long-term development of the enterprises? Currently, human market competition is equivalent to product market competition; it demonstrates that the traditional compensation system is challenged. How can enterprises attract the talent that demands better conditions, instead of attracting improper employees who increase the cost of personnel training? How can small and medium enterprises set up a compensation system that is connected with the goals of the business environment, satisfies the requirements of labor and management, and increases employee performance?

2.5 Job Responsibility

The process of managing performance is essentially one of holding people responsible for their performance. It starts with the setting of performance expectations and ends with sanctions, rewards and penalties on appraised performance. Work is stated as "the tasks that have to be done" (Collins South African Thesaurus, 2004, p. 655). In addition, it is defined as "something you have to do that needs effort and energy" (South African Oxford School Dictionary, 2004, p.253).

Organizational empowerment involves a common responsibility that members facilitate to trail their own performance and furthermore have equal responsibilityfor organizational results or success. Cunningham (1996) argued that a reallocation of responsibility to a lower organizational level is a serious element to develop successful individuals. Kirkman (1999) when employees of an organization have a common sense of higher responsibility, their individual and common events will likely be more proactive and important than those of the employees less empowered. On the other hand, in the absenceof a strong sense of empowerment, employees may have distrustful and accumulate information and be reluctant to take risks. If employees are highly responsible, disposed to take risks and study from their mistakes, they will be less dependent on proper team leaders. Furthermore, if they handle difficult problems or issues without waiting for approval offormal authorities, and if theyshare a common sense of responsibility, a common sense of empowerment will be visible.

2.6 Recognition

People who feel appreciated are more positive about themselves and their ability to contribute. Creating goals and action plans that recognize the behaviors and accomplishments that warrant rewards within the organization will lead to a successful organization. Employee recognition is one of themost powerful forms offeedback.To respond to the limits of re-engineering work processes and to the requirements of organizational productivity and efficiency, numerous researchers have examined the impact of motivation to work on performance (Herzberg, Mausner & Snyderman 1959; McGregor ,1960; Vroom, 1964; Porter & Lawler,1968). These studies quickly highlighted employeerecognition as an essential component of motivation. Moreover, Porter and Lawler (1968)put forward an intrinsic and extrinsic motivation model specific to the world of work. Theseauthors stipulate that organizational performance is determined by gaining intrinsic and extrinsic rewards. Several studies are in line with this theory, which can be referred to as motivation as a predictor of organizational performance (Deci & Ryan, 2000).

However,the goals of research on motivation are no longer limited solely to the achievement of work performance but have evolved to respond to new management concerns related to employee commitment (Meyer &Herscovitch,2001), turn over Richer, Blanchard and Valler (2002), mental health in the workplace Locke (1997) and recognition (Browne, 2000; Franco, Bennett, Kanfer & Stubblebine, 2004; Saunderson,2004).Some authors highlight the essential nature of employee recognition as a vector of motivation (Dutton ,1998; Appelbaum & Kamal, 2000; Saunderson, 2004; Grawitch Gottschalk & David, 2006), identity Dejours (1993) Indeed, it acts as a personal development agent as well as a binder and dynamic factor in industrial relations. It also proves to be pivotal to workplacemental health. In fact, Brun and Biron et al. (2003) reveals that a lack of recognition constitutes the second-largest risk factor for psychological distress in the workplace.Among managers, for instance, it would appear to constitute a stress-tolerance factor and akey element in their ability to handle difficult professional situations (Dany & Livian, 2002).

One of the most important sources of organizational mobilization and engagement Gay and Simard (2000), recognition plays a key role in the success and continuity of organizational change Evans (2001). Moreover, it promotes on-the-job learning Lippit (1997) and is a building block of learning organizations Griego, Geroy and Wright (2000). Finally, by contributing to employee job satisfaction, it has a positive impact on organizational productivity and performance (Applebaum &Kamal, 2000). Admittedly, most employees express a need to be recognized by their supervisors, co-workers and clients, regardless of their job status or type Brun (2000).

2.8 Conclusion

Management should have a positive effect on, and look for to maintain the contentment of, the company's employees. Reasons for this are not exclusively tobenefit the employees as companies also stand to gain from employee satisfaction. In an economic environment like the current one, employers often ignore the costs associated with discontented employees,seemingly believing that these employees are stuck in their current positions and will tolerate unpleasant working environments. This, however, is not the case.

Many reasons for employee dissatisfaction are well within the control of the company and good management practices will enable acompany to reduce, or remove, those reasons. Satisfied employees will work harder for the company and plan to stay at the company, ultimately reducing that company's labor costs.

Chapter 3 METHODOLOGY

3.1 Introduction

This chapter discusses the method and procedure to collect the data in order to achieve the purpose and objectives of this study. The topic to be discussed in this chapter includes the Procedures, Participants and Instruments, followed by the presentation of our data collection and finally the validity and representativeness will be described.

Research Question

How does the impact of rewards, recognition and motivation influence, Job responsibility and

Employees' Satisfaction?

Sub questions

How does Salary compensation influence the employee's satisfaction?

To what extent can Job responsibility and employee satisfaction be measured?

What is the importance of recognition in an organization?

3.2 Procedure

This research is based on a quantitative methodology. Quantitative methodology is appropriate

as it has been described (Hair, Babin, Money & Samouel, 2005) "that quantitative data are measurements in which numbers are used directly to represent the properties of something while

Qualitative data represent descriptions of things that are made without assigning numbers directly".

Quantitative research relies on logical reasoning or deduction (Sekaran & Bougie, 2010) and makes use of variety of quantitative analysis techniques that range from providing simple descriptive of the variables involved, to establishing statistical relationships among variables through complex statistical modeling (Saunders et al., 2009). By using particular methodologies and techniques, quantitative research quantifies relationships between different variables. In quantitative research, involving two or more variables, for example, the purpose of researcher is to study the relationship between the independent variables and the dependent variable in a population (Hopkins, 2000).

In comparison to quantitative research, qualitative research uses inductive reasoning (Sekaran & Bougie, 2010) and aims to acquire an in-depth understanding of human behaviour and the reasons of occurrence of that behaviour. Qualitative research can also be called as interpretive research as its primary objective is not generalization but to provide deep interpretation of the phenomena (Cooper & Schindler, 2006).

Sample is a subset where every item in a population has the same probability of being in the sample (Susan, 2010). For this research the sampling design type: probability was chosen, probability sampling because the target population is known. The target population according to Zikmund et al. (2010) is the complete group of specific population elements relevant to the research project. The sample frame is the list of elements from which a sample may be drawn, also called working population. The working population of Girobank N.V. consists of 240 employees. The sample size has been set to approximately 100 employees. Probability sampling procedure gives every element in the target population, and each possible sample of a given size, an equal chance of being selected and simple random sampling is a sampling procedure that assures each element in the population an equal chance of being included in the sample Zikmund et al. (2010).

Table 3.1: Table of Data collection schedule

Date

Branch

Dept

# collected

18-Feb

Scharloo

Corporate

15

18-Feb

Scharloo

Special Credit

5

18-Feb

Scharloo

Offshore

5

18-Feb

Scharloo

Transfer

10

19-Feb

Diff

Distr. Channel

30

19-Feb

Diff

Customer Serv

15

20-Feb

Scharloo-2

Client Files

5

20-feb

Scharloo-2

Back Office

5

20-Feb

Scharloo-2

Product & Plan

5

20-Feb

Scharloo-2

Treasury

2

21-Feb

Scharloo

Credit Adm

7

21-Feb

Scharloo

Operations

2

21-Feb

Scharloo

Administration

5

21-Feb

Scharloo

Legal

3

21-Feb

Scharloo

Compliance

3

3.3 Participants

Zikmund (2003) stated that a target population is a complete group of specific population elements relevant to the research project. It is required with any survey, that the target population be clearly defined, which is defined by Collis & Hussey (2003) as, "A population is any precisely defined set of people or collection of items which is under consideration". Target population is very important in this research because it will define the volume of sampling and groups involved. For this research, the target population (N) is the employees of Girobank N.V. Girobank N.V. have a total of 240 (N=240) employees divided over the following 8 branches:

Scharloo Branch (main office)

Janwe Branch

Santa Maria Branch

Colon Branch

Zuikertuin Branch

Renaissance

La Confianza Branch

Bonaire Branch

The focus is on the main office where more than 50% of the employees are working and the different departments including: Corporate, Special Credit, Offshore, Transfer, Distr. Channel, Customer Service, Client Files, Back Office, Product & Planning, Treasury, Credit Administration, Operations, Administration, Legal and Compliance are located as specified in Table 3.1. The targeted sample size is 100 employees ( n =100). Employee respondent data will be collected from 5 employees per department at the main office and 10 employees per department at other branches.

3.4 Instruments

The research instrument used in this study is non-interactive media. Non- interactive media are those that do not facilitate two-way communication and are largely a vehicle by which respondents give answers to static questions (Zikmund et al., 2010). Therefore, self-administrated questionnaire was used to collect primary data of this research. Paper questionnaire is the prior choice in this research because distributing the questionnaire personally is showing more sincerity and manner to respondents. Beside, by distributing the questionnaire face-to-face, the researcher can guide and clarify to respondents, so they are not uncertain to the questionnaire.

A questionnaire is a reformulated written set of questions to which respondents record their own answers, using within rather closely defined alternatives (Sekaran & Bougie, 2010). The questionnaire has a cover layout which helps the respondents to know the research title and purpose of the survey. The questionnaire consists of a total of 20 questions which are fixed-alternative questions. Then, it is divided into two sections which is section-A Respondent's profile and section- B is the section of the independent variables: Salary, Recognition and Job Responsibility. Every section has the instructions to guide the respondents. Fixed-alternative question is the question which respondents are given specific, limited-alternative responses and ask to choose the one of the closest answer to their viewpoint (Zikmund et al., 2010). Among of the type of fixed-alternative question, the most suitable type for the question is determinant-choice questions. Determinant-choice questions require the respondent to choose one response among the multiple alternatives given. Therefore, the Likert scale was chosen to apply in the questions:9-12 and 16-19 . A Likert scale is an ordered, one-dimensional scale from which respondents choose one option that show best aligns with their view ("Likert Scale", 2012). Respondents have to choose one of the range from strongly disagree, disagree, neutral, agree and strongly agree. The number from 1 to 5 is assigned to each option.

Table: 3.2 Table of Instruments

Variable

Questions

Scale

General

1 - 8

Nominal / Ordinal

Independent

Salary

10,12

Interval / Ratio

Recognition

9,12

Interval / Ratio

Job Responsibility

16-20

Interval / Ratio

Dependent

Employee Satisfaction

11, 13 - 15

Interval / Ratio

The statistical program used for the analyses and presentation of data in this research is the Statistical Package for the Social Sciences (SPSS). To describe and summarize the behaviour of the respondents in this study, descriptive statistics are used. They refer to the ways in which a large number of scores or observations are reduced to interpretable numbers such as averages and percentages. The descriptive statistics utilized in this study are based on frequency tables and graphical illustrations to provide information on key demographic variables, as well as the means and standard deviations for the responses on the Salary and Recognition and Job Responsibility Questionnaire. The mean is a measure of central tendency, and provides an arithmetic average for the distribution of scores. The standard deviation, on the other hand, is a measure of variability which is calculated as the square root of the variance (Leary, 2004).

Table: 3.3 Table of Tests and scaling for the variables at hand

Variable

Scaling

Hypothesis

Statistical Test

Independent

Salary

Metric/Interval

#1

Recognition

#2

Job Responsibility

#3

Dependent

Employee Satisfaction

#4

3.5 Validity

Validity is the extent to which a score truthfully represents a concept. Simply speaking, it is the accuracy of measurement device and represents the ability of a scale to measure what it is intended to measure (Cooper & Emory, 1994; Zikmund, 2000). Validity is expressed in two types: External and Internal (Saunders et al., 2009). External validity is about generalization and internal validity ensures that a researcher's research design closely follows the principle of cause and effect.

Table: 3.4 Sources

Variable

Questions

Sources

Independent

Salary

10, 12

Alam (2009)

Recognition

9, 12

Applebaum &Kamal, 2000

Job Responsibility

16-20

Collins South African Thesaurus, 2004, p. 655

Dependent

Employee Satisfaction

11, 13 - 15

Saura, Frances, Contri, & Blasco, 2008

3.6 Representativeness

Representativeness expresses the degree to which sample data accurately and precisely represents a characteristic of a population's, parameter variations at a sampling point. The representativeness criterion is best satisfied by making certain that sampling locations are selected properly and a sufficient number of samples are collected.

When the target population is known, it can be tested if the sample is likely to have been drawn from that population. The population N = 240 employees and the sample size n = 100 employees. The sample interval: 240 / 100 = 2.4. The data will be collected from 5 employees per department at the main office and 10 employees per department at other branches.

3.7 Conclusion

This chapter covered the methodology of quantitative data method followed to research employee satisfaction in the given setting. A structured questionnaire with close - end questions was used for the self-administered survey. The target population was employees of Girobank N.V. The sample size was 100. The questionnaire consisted of 20 questions divided into two sections. Discussions covered the goals of the research, procedure, participants, instruments, validity and representativeness.

In Chapter 4, results from the survey will be analyzed, recommendations to mitigate the research problem will be made, and final conclusions will be drawn from the research study.