Xie, J.H.
(2022)
Research on Incentive Mechanism of Millennials in Chinese Bank.
[Dissertation (University of Nottingham only)]
Abstract
The first driving force for bank development and the first influencing factor for bank rise and fall is how to attract and retain talent. How to attract and hold talent is the key issue for the development of banks. With the great changes of the times, banks have gradually revealed some problems with staff motivation, such as recruitment difficulties, high turnover rate, low motivation, etc. At this stage, the incentive mechanism for young employees is defective and cannot play a good role in motivating employees. The millennial generation employees account for a high proportion of the bank and are the backbone of the bank's operation, and their massive loss or slack work is extremely detrimental to the normal operation and development of the bank. Therefore, how to motivate young employees and establish an efficient incentive mechanism for young employees is the core issue of the current research on incentive mechanisms in the Chinese banking industry.
In this dissertation, we further explore the problems of compensation and benefits, work effort, interpersonal relationships, promotion systems, training, workplace environment, etc. by interviewing the specific situation of the motivation mechanism of millennial employees in Chinese banks. The interview was used to further explore the problems of compensation and benefits, work effort, interpersonal relationships, promotion systems, training, workplace environment, etc. By comparing the needs of the millennial employees with the current incentive mechanism, it was found that Branch C has problems in the areas of lack of compensation, excessive work pressure, inadequate humanistic care, inadequate training system, and the bank also proposes strategies to help the bank understand the needs of millennial employees, find out the shortcomings of its incentive measures, and establish a scientific incentive mechanism to enhance the young employees' recognition and sense of belonging to the bank and help them find their career development direction.
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