To make a choice between candidates, one has, mainly, to take into consideration the following factors:
- long past professional experience and, particularly, knowledge of the bank, the way it works and its organisational culture,
Promotion
A promotion is a move of an employee to a job within the organisation, which has greater importance and, usually, higher pay. Frequently the job has higher status and carries improved fringe benefits and more privileges.
European banks’ new practices concerning career management are, more and more, characterised by:
Presentation of the European banks’ traditional practices
In many of the retail banks from western European countries, career management was characterised by:
Assessment and remuneration
In most western European banks’ remuneration policies, flexibilisation and performance related pay are more and more widely introduced, to increase employees’ stake in the business. They favoured some kind of variable system and performance related pay plans.
Common characteristics and evolution trends of past compensation policies of western European banks
Base rates used to be established through collectively negotiated agreements and fixed according to conventional structures, in a rather rigid manner (codified system of scales).
The main factors/elements of a compensation policy
There are five key elements in good compensation plans for banks:
What are the qualitative factors of motivation?
What type of action for a qualitative motivation
You are responsible for a unit. What would be your answer to the different expectations of your colleagues, knowing that you are a manager who is convinced that the motivation of the people at work is the key to success?
The initial study and the concepts
The American psychologist Frederick Herzberg has propounded a theory of motivation at work that concentrates on Job Satisfaction.
He identified two basic categories of need systems: the need to avoid unpleasantness and the need for personal growth.
