Motivation and its impact on job satisfaction at Toyota finance department.

Abstract

Toyota operates in a dynamic and competitive environment. Local and economic factors have a direct impact on the business. There has been a slowdown in car sales, due to higher interest rates, higher car prices and slow growth in the economy, locally. Internationally, Toyota has to compete with other car manufacturers based on quality and cost effectiveness. Therefore, Toyota has renewed its focus on cost cutting measures, by trying to identify efficiencies within processes and savings via procurement. Toyota has recognised that its finance employees are the key to driving this process. It is therefore imperative that Toyota manages the focus and energy of its finance department, so as to achieve its goals. The purpose of this study was to investigate factors affecting motivation and its impact on job satisfaction, in the Toyota finance department. A qualitative research approach was used for the purpose of this study. In-depth interviews were held with fifteen employees, to gain an understanding of their perceptions of motivating factors and, their levels of motivation and job satisfaction. Data was analysed using thematic analysis. The findings of the research indicated that culture, leadership style and facets of work, were significant motivating factors. The study also identifies other factors that had an impact on motivation. The study found there to be a strong link between motivation and job satisfaction. The study concluded with recommendations on how to improve motivation levels at Toyota finance department i.e. changes in work design, leadership style and culture were required.