Cash benefit structures, career growth opportunities, incentive structure, organised retail sector, reward and recognition structure, staff motivation.
Purpose of Research: The present paper studies the effectiveness of the factors in motivating the employees working in the retail industry. It also analyses the perception of the employees about the effectiveness of the factors influencing staff motivation and the difficulties faced by them in their workplace and their opinions on being better off. This study is very crucial in present day context as competition in retailing is getting steeper. Particularly after the economic slowdown in a highly volatile economic environment, retailers must analyse the factors affecting their employee motivation.
Methodology: In this study, the researchers have tended to highlight the positivist philosophical approach. The research has been carried through the survey done on the staffs of operations and sales team of some top organised retailers in Kolkata by a standardised questionnaire, blended with open ended and close ended questions. It also delves into the effect of demographics and psychology of the staffs and their perception about the factors influences their motivation level in the workplace, by using various statistical tools like Chi-Square Test, Cronbach’s Alpha and Factor Analysis in the study.
Findings: Reward and Recognition structure and Cash Benefit structures are the most influential factors in motivating the staffs to work in retail sector, closely followed by Career growth opportunities. Again, the Incentive structure influences the staff motivation to perform better in sales.
Practical Implications and Conclusions: The components give an unadulterated and fulfilling experience to the staffs which makes them feel good about their work and also make them feel hopeful in order to make betterment in their career. These leads to positively influencing the motivation level of the staffs in the retail industry. This leads to better performance from the staffs in both quality and quantity. This also reduces employee turnover. This helps in maintaining a healthy environment work balance with a healthy relationship between the staffs and the management, in the retail sector. This in turn helps the retail sector to grow and prosper
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