Career development and staff motivation in the banking industry: A case study of Bank of Uganda

Abstract

Lack of career advancement after training in Bank of Uganda is an area of great interest and concern. The lack of career advancement affects motivation and performance. However, how training influences motivation is not well researched in BoU.The objectives of this study were to assess career advancement after training, identify constraints to career advancement, assess the level of motivation among trained personnel, establish strategies to minimize constraints to career advancement and assess the effect of career advancement on motivation. The study employed a case study research design where information was solicited mainly through the use of self administered questionnaires and face-to-face interview guides. Respondents for the self administered questionnaires were picked through stratified sampling. From each stratum or group, a random sample was selected. Purposive sampling was employed for key informants who were subjected to face-to-face interviews. Data analysis was done using percentages. The study revealed that among other things, low chances of promotion after training seem to point to the irrelevance of training to promotion. A marked lack of opportunities regarding career paths was revealed. The study revealed that although Bank of Uganda recognized skills and accomplishments after training, staff at levels do not benefit from career advancement after training. It was revealed, through the study, that the inflexible organizational structure, poor policies on promotion, favoritism and irrelevant training were responsible for lack of career advancement after training. The study identified setting clear and transparent policies on promotion and free and fair competition for promotion as a few of the strategies that could minimize constraints to career advancement. The study also revealed that career advancement had a highly significant effect on motivation. The study has recommended among other things, that Bank of Uganda improves the relationship between training and promotion through a more flexible structure and new reward system.