Employee Motivation Strategies In Kenya’s Microfinance Sector

ABSTRACT

The aim of this study was to evaluate employee motivational strategies in Kenya Women Finance Trust which is a deposit taking microfinance. Specifically the research study evaluated the effects of achievement on employee motivation at KWFT, assessed the impact of recognition on employee motivation at KWFT, analyzed the extent to which interest in the job affects employee motivation at KWFT and explored the importance of career advancement on employee motivation at KWFT.Descriptive research design in form of a survey was used. The 36 Business Development Officers working in KWFT branches in Nairobi Central, Nairobi West and the Headquarters were used in this study. A census will be used to select all the 36 officers in the branches. A questionnaire was used for data collection. Descriptive statistics such of means, standard deviation and frequency distribution were used to analyze the data. The data was presented in form of frequency tables, graphs and pie charts. A regression model was generated to establish the relationship between the dependent variable (employee motivation) and the independent variables (achievement, recognition, interest in the job and career advancement). The regression equation established was; Y = 1.161+1.482 X1+ 0.942 X2+ 1.218 X3 +2.106 X4.The regression model showed that career advancement (X4) had the greatest effects on employee’s motivation with a coefficient of 2.106. This was followed by achievement(X1) with a coefficient of 1.482, Interest on job(X3) followed with a coefficient of 1.218 and finally recognition for achievement(X2) with a coefficient of 0.942.This shows that all the study variables had a positive relationship and all the P-values were less than 5% hence statistically significant to make a conclusion on the population. This implies that the study variables had significant positive impact on employee’s motivation. While, the test further revealed career advancement, achievement, interest on job and recognition passed the test of significance, and this implies that they had a positive significant impact on employee’s motivation.