BONIFACIO SAVINGS AND LOANS ASSOCIATION
MOTIVATION
I. Case: BONIFACIO SAVINGS AND LOANS ASSOCIATION The Bonifacio Savings and Loans Association (BSLA) in its last monthly consultative meeting for the year decided to embark on a one-year deposit campaign program. Dubbed as BSLA’s “Employee Motivation Program (EMP)”, the deposit campaign aimed to increase deposit levels which was BSLA’a traditional source of funds. Mr. Danillo Lagman, VP for operations, was chosen as overall program coordinator. After a month of preparation, Mr. Lagman and his staff were ready to launch the EMP. Under the guidelines, bank officers and employees were given award credits for every account turned in. points were based on the opening balance and their average balances thereafter. The participants were divided into teams, with one branch/division representing one team. To monitor progress of the EMP, solicited clients surrendered introductory cards given to them by the EMP’ participants. Passbooks/deposit certificates were then marked with the EMP logo. As an added incentive, aside from individual bonuses specific credit levels reached, special bonuses were given to teams if group targets were met. Personal team award credits earned were summarized and distributed at the end of each month within the deposit campaign period. The more award credits earned, the more expensive the merchandise that could be redeemed. The list of prizes included calculators, watches, living room and dining sets and microwave ovens, among others. Mr. Panganiban, head of the Accounting Division, took great pains to get a big budget for the program. He was the one who introduced the EMP to the board during the year-end meeting he held strongly to the belief that with the proper incentives, the employees could be enlisted to help the Bank attains its targets. During the consultative meeting, Mr. Panganiban outlined to the managers the deposit level targets for their respective branches. Because of the EMP, increases in targets were noticeably
I. Case: BONIFACIO SAVINGS AND LOANS ASSOCIATION The Bonifacio Savings and Loans Association (BSLA) in its last monthly consultative meeting for the year decided to embark on a one-year deposit campaign program. Dubbed as BSLA’s “Employee Motivation Program (EMP)”, the deposit campaign aimed to increase deposit levels which was BSLA’a traditional source of funds. Mr. Danillo Lagman, VP for operations, was chosen as overall program coordinator. After a month of preparation, Mr. Lagman and his staff were ready to launch the EMP. Under the guidelines, bank officers and employees were given award credits for every account turned in. points were based on the opening balance and their average balances thereafter. The participants were divided into teams, with one branch/division representing one team. To monitor progress of the EMP, solicited clients surrendered introductory cards given to them by the EMP’ participants. Passbooks/deposit certificates were then marked with the EMP logo. As an added incentive, aside from individual bonuses specific credit levels reached, special bonuses were given to teams if group targets were met. Personal team award credits earned were summarized and distributed at the end of each month within the deposit campaign period. The more award credits earned, the more expensive the merchandise that could be redeemed. The list of prizes included calculators, watches, living room and dining sets and microwave ovens, among others. Mr. Panganiban, head of the Accounting Division, took great pains to get a big budget for the program. He was the one who introduced the EMP to the board during the year-end meeting he held strongly to the belief that with the proper incentives, the employees could be enlisted to help the Bank attains its targets. During the consultative meeting, Mr. Panganiban outlined to the managers the deposit level targets for their respective branches. Because of the EMP, increases in targets were noticeably