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2008-02-23 15:34:58|  分类: 部分翻译作品回顾 |  标签: |举报 |字号 订阅

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Motivation Theory and Culture of China Merchants Bank

                      

Abstract:

Taking China Merchants Bank as an example, the article cites motivation theory, introduces the current short-time motivation theory and long-time theory, introduces that, only combining motivation means and objective, an opening motivation system fitting enterprise’s features, times ‘characters and employees’ needs could be founded and always being kept in successful stand in the fierce market competition.

Key: Short-term Motivation   Long-time Motivation   Material Motivation   Sprit Motivation   Organization

1. Brief Introduction of the Enterprise

China Merchants Bank was established in April 8, 1987 and was the first joint-stock system commercial holding bank with the enterprise legal person shares. Its headquarter was set up in Shenzhen. Up to the present, its general assets are over 100 billion Yuan. According to the latest list of China’s top 100 banks and sequence of first-class capital issued by The Bankers of UK, China Merchants Bank ranks sixth in China.

Through the development in the past over 20 years, the bank has become a large national commercial bank from a little local bank originally positioned in Shekou, Shenzhen and initially an institution system and a business network, radiating the country and facing the world, had been set up correspondent bank relationship with more than 1,100 banks in over 90 countries and regions.

At present, branches in over 30 middle and large-scale cities in China mainland and Hong Kong and totally more than 500 business outlets and a representative office in US had been set up. In addition, the bank had established.

China Merchants Bank had been ranked first for four years in a row in the internal grade assessment for holding commercial banks held by China Banking Regulatory Commission in 2007. In the various investigations and awards-choosing activities held by domestic and overseas authoritative media, China Merchants Bank had been awarded Best Bank of China Best Retail Bank of China Most Honored Enterprise of China Most Valuable Listed Companyand “Best Employer of China” etc and  publicly regarded as one of the best brand effect bank in China’s bank industry.

2. Motivation Concepts and Theory

1) What’s the motivation?

What’s the motivation? It has various definitions. Generally, these definitions are coincident in nature. The motivation refers the degree that one person will develop his ability to reach his target. Thus, the motivation is an internal psychology, particully aiming at individual and will be changed along with time and situation.

The motivation in organization is that the manager makes every member in the group work hard to achieve objective of the organization through applying some means and ways. The motivation could stimulate people’s potential and fully exert people’s enthusiasm and creativity. The members are all need motivation, which comes from self-motivation, fellows, leaders, groups and organizations etc. In general situation, the motivation behaves as the impetus and attraction from outside world. These impetus and attraction could be translated into each people’s power, making organization’s objectives into individuals. The former passive Make me do! could be changed into active  “Let me do!”

2) Motivation Theory

Motivation theory mainly has two research means-content style and process style. Of them, three main content motivation theories are Maslow’s Hierarchy Theory of Needs, Mclelland’s Achievements Motivation Theory and Herzberg’s Two Factor Theory. Four of the most famous process motivation theories are Expectation Theory, Intensification Theory, Justice Theory and Objective Setting Theory. The paper mainly tells various motivation mechanisms; how to combine short-time motivation, long-time motivation and sprit motivation well. Pay attention to spirit motivation while concerning material motivation and make motivation exert long positive effect and stabilize the staff team.

3. Short-time Motivation Mechanism

1) Merit Pay Policy

China Merchants Bank adopts merit pay policy for its marketing staff and the base for calculating the merit pay are the achievements of the staff. So, achievements evaluation is the core of the merit pay. Working evaluation means could be divided into formal system and informal system. The informal system mainly relies on the personal judgment of the managers for the staff; the formal system, based upon completed evaluation system, emphasizes objectivity of the evaluation. The merit pay policy adopted by the bank could make various positive effects. Firstly, it could link staff’s pay with their personal achievement and we can make the motivation system into the link; Secondly, it is favorable to pay more for excellent staff, raise enterprise’s efficiency and save pay cost; Thirdly, it is favorable to raise team sprit and enterprise image and encourage it’s staff better and enforce their cohesion.

On the other hand, the merit pay policy is not perfect and its negative includes: it’s easy to award staff in the right way but could not effectively restrict bad achievements makers. In addition, some staff with great achievements maybe hide their achievements because that they think a big award will do harm to them in a team. So, the key for carrying out the policy is the right evaluation and effective monitoring for staff’s achievements                                                       2) Skill-based Pay Policy

China Merchants Bank adopts skill-based pay for counter service staff. Labor evaluation will be carried out according to four basic elements of skills, duty, intensity and conditions of their labor and their needs and influence of the units and posts. Through the test and the evaluation for the basic labor elements in various units and scientifically evaluate the differences between different units, the result will be taken as the basis for conforming pay standard. The four main elements could be decomposed as a lot of components for easily evaluation. That is unit labor evaluation index. The skill-based pay embodies principle of “get pay according to labor” and links labor and pay. It is favorable to develop the beneficial function of the pay. The policy could divide unit labor evaluation and personal labor achievements evaluation from structure. The pay will be divided into basic pay and assisting pay.

 

3) Pay Policy Based on Seniority

The policy, as the supplement of the skill-based pay policy, could incite the staff work hard for the bank and detain staff especially some old staff. The policy also adds staff’s dependency and security and makes them avoid unemployment risk.

4. Long-time Motivation Mechanism

1) Enterprise Annuity

China Merchants bank adopts personal account system and each qualified people of the enterprise could get his or her accounts. The amount in the accounts will revert to the staff and any units and other people could not draw money from it. The headquarter and its branches provide Enterprise annuity and its offering fund. Units offering fund and personal offering fund compose the offering fund. The two funds will be amounted and drawn respectively. The bank has perfect indemnification system such as endowment insurance, industrial injury insurance, medical insurance and the like. The enterprise annuity is the most important part of the insure system for the staff of the bank and also one of the most efficient means for long-time motivation.

The offering fund will be collected and managed by the special institution of the headquarter. A managing mode of “four unification” is adopted. They are policy unification, personal account unification, management unification and operation unification. For those staff, whose service period has exceeded five years and not reach up to eight years, 50% remaining sum of his or her personal account will be accounted and drawn; For those who has exceeded eight years and not reach up to ten years, 80% remaining sum will be accounted and drawn; For those staff, who has worked for more than ten years, 100% remaining sum will be accounted and drawn. When the staff retires (sick reason and quit working included), the total sum in the personal account could be balanced at one time. After balancing, the staff could choose to get the money in one time or by stages according to their will and the money also could be changed into commercial insure annuity. When the money was paid by stages, the staff still could share its bonou from remaining sum annually. The implementation of enterprise annuity could improve the staff’s endowment insurance standard step by step when they retire, restrict more job leaving and add cohesion of the enterprise.

2) Long-time Professional Development Plan

Besides salary, professional development also is the most important motivation means. According to Maslow’s hierarchy theory of needs, material needs is the low hierarchic needs. But self-realization is the highest hierarchic needs. Professional development belongs to category of people’s needs for self-realization. So, it can produce even more motivation. Besides promotion, China Merchants Bank adopts job-shift policy, occupation policy and other professional development means, effectively adding contacts of the staff, making the staff learn more knowledge of new units and the motivation function could be realized. For example, customer manager policy, cabinet service grade policy and transferring position with points for lobby manager policy provide good professional channel. In addition, the bank encourages staff’s enthusiasm and go-ahead will to guaranty that the enterprise has effective HR development. It’s the perfect combination of short-time motivation and long-time motivation.

3) Construct Enterprise Culture of China Merchants Bank

The research result of personal management thinks people’s action has two big motion systems. One is based on “individual’s orientation”, a “self motion” system for self needs. That is for living, association, and development and even for self-realization. With the system, self is in the central part and people’s object is to preserve self’s interests and chances; the second system is “beyond individual’s orientation”, a completed socialized “beyond self motion system.” With the system, the objectives of the acts are to realize and preserve social (organization, enterprise, community) value, idea and interests. The focal point of the system is that salary, achievements and chances could work in staff’s self motion system; While cultural motivation stresses that social interests like common idea, sense of value and vision etc. could work in staff’s beyond self motion system. China Merchants Bank pays great attention to cultural construction and some moving slogans had been raised to form strong cultural phenomenon. These slogans include “ challenge forever, self-communion forever, create dream, seek excellence, create honor and grow up with China Merchants Bank together ”etc. They integrate staff’s acts through conscious direction, using bank’s spirit and the staff’s value sense. The cultural motivation works greatly in the staff’s beyond motion system, dispel huge energy, remedy the shortcomings of the material motivation policy and make the staff produce more socialized intention and mission sense for seeking advancement, idea, perfect and loftiness. The cultural motivation let they would like to strive all their life to “build a centenary bank and create blue chips.” The cultural motivation is a long and effective motivation mechanism.

5. Conclusion

To be sure, staff’s diversity and complexity of management mean that motivation modes of managers are also multivariate. For a successful employment, the enterprise should concern staff’s self- motion and beyond -self motion, incite and meet various expectations with relating systems; assimilate staff’s value sense, career ideas and moral pursuing with enterprise culture and operational ideas. The enterprise need truly build an opening motivation system that fitting enterprise’s characters, times’ characters and staff’s needs through motivation means of pay, achievements, chances and cultural motivation in different time, short-time and long-time motivation means, combing instruments and objectives of the motivation and thus, the enterprise can stand in the invincible position in the fierce marketing competition.

Reference:

Liu Guangming, Second Edition of Enterprise Culture (Economic Management Press, 2001)

Zhou Sanduo, Third Edition of Management Science (Fudan University Press, 1999)

Rui Mingjie, Management Science (Shanghai People’s Press, 1999)

Xing Yiqun, Management Science (Zhejiang University Press, 1997) 

                                       

 

 

 

 

 


 



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