Royal Bank Scotland

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3. What is the ‘RBS mindset’?

The RBS mindset is that employees can ‘make it happen’ for themselves. It provides the opportunities for all employees through promotion or training and then recognises their achievement. According to Maslow, an individual is ready to act upon the growth needs if and only if the deficiency needs are met. The first and most basic need people have is the need for survival, their physiological requirements for food, water, and shelter. People needs food to eat, water to drink, and a shelter to be call home before they can think about anything else. If any of these physiological necessities is missing, people are motivated to meet the missing need.

After their physiological needs have been satisfied, people had to feel safe in their environment. RBS provides these basic needs to their employees so that people can work to meet their needs for safety and security. Next is social needs, refer to the fact that we want to feel part of something we share in. These needs are met through satisfactory relationships such as relationships with family members, friends, peers, colleagues, supervisor, and other people with whom individuals interact. RBS creates the opportunity for its community of employees worldwide to share in its common goals and vision for the group. RBS does this by rewarding the people who contribute to its success through their commitment and hard work. Therefore employees can venture out and seek relationships from which their need for love and belonging can be met.

All humans have a need to feel respected which includes the need to have self-esteem and self-respect. Esteem presents that human are desire to be accepted and valued by others and what we do matters. The need for self-actualization, which is a person’s desire to become everything he or she is capable of becoming to realize and use his or her full potential, capacities, and talents by offering recognition and promotion opportunities.

Through this needs, RBS mindset can help their employees to improve their self-esteem and self-actualization. Furthermore, RBS can also provide the opportunity for all employees through training or promotion and the give recognition for their employee’s achievement. When their self-esteem has increase they will work hard in order to achieve their goals and to be as good as they possibly can be and have the chance to develop a lifelong career with the Group.

4. What is the ‘work-life balance’ and how is it relevant?

Work life balance describes the relationship amongst work which is the career and ambition, and the lifestyles in the employees’ life such as health, pleasure, leisure, family and meditation and how they effect on each other. Employers, employees and government want to boost the interest in the workforce. However, numerous individuals battle to adjust their work and the duties of looking after their kids, relatives with an inability or elderly guardians. The best individual work life-balance will vary over time because each of us all have different priorities and different lives. The Royal Bank of Scotland (RBS) participate in work-life balance program because the organization wants to attract and retain the highest qualified and motivated their employees.

The importance of work-life balance making and maintaining strong and healthy workplace which will reinforce employees’ dedication and efficiency. The employees in RBS have been given the ‘right to work flexibility’ where it can be through a range of flexible working practices covering job sharing, part-time working, home working, variable working hours, compressed hours and term-time working which these are adapted to suit the local needs of each RBS center. The policies has help creating a working atmosphere that relieve the employees’ stress and this allows RBS to attract more talented people.

For other workers it's frequently hard to discover time outside work for study, volunteering or dealing with their own particular wellbeing. Another work-life balance program by RBS is RBS ’Your time’ where RBS recognizes that in some circumstances, the employees may need time off from work for reasons other than sickness. Some employees may also have special family commitments or commitments in their local community. This flexibility has improve the employees’ personal satisfaction and the organization will also benefit from the employees’ higher morale and commitment.

Theoretical work on motivation by Elton Mayo in the 1920s showed that contented people, who are satisfied with their working environment, were likely to be more productive. When employees in RBS are satisfied with the policies and procedures in the organization, they will become more productive and motivated to work and RBS can retain the highest qualified employees. Not only they will able to retain but also attract other talented employees.

5. How important are non-financial rewards and why?

Reward is important in an organization as the motivation to the employees in order to increase their job performance. There are two types of reward which are financial and non-financial reward. Non-financial reward can be given to the employees as well in order to motivate them in their commitment and performance at work so it is not always the money that can motivate them. The workers at RBS enjoy total reward that is a specific benefits package designed by RBS that goes far beyond salary. It does not include just the money, but it provides benefits for each member of staff but also personal choice in working hours and security.

Theorists have long understood that staffs need a combination of motivators. Some of them realize that pay cannot motivate them to give more. Non-financial rewards can have an even more substantial impact on employee satisfaction and motivation than traditional financial rewards. This is why RBS offers so many non-financial rewards for the employees. As we can see, non-financial rewards can improve personal lifestyle. In RBS the employees get recognition for good work in other words, employees can get a promotion or recognition from the above management if they have done the job well. This non-financial reward has encouraged them to make it happen through personal development. As for that, this is as the ways of RBS to develop their employee’s skills and abilities.

RBS believes in giving its people chance to give something that valuable into their own communities. Wherever RBS operates, the Group supports community involvement in projects that matter to its people. For every pound raised for charity by a member of staff, RBS will double-match the donation,