Leadership, Motivation, and Skills Drive Employee Productivity at State-Owned Microfinance Firm
Employee productivity at Indonesia’s state-owned microfinance institution PT Permodalan Nasional Madani (PNM) is strongly shaped by motivation, competence, and work discipline, supported by leadership quality, compensation, and a conducive work environment. These findings come from a 2026 study by Agus Dwi Anto of Perbanas Institute Jakarta, published in the International Journal of Integrative Sciences. The research is significant as PNM plays a central role in financing ultra-micro entrepreneurs and strengthening grassroots economic growth across Indonesia.
The study focuses on the PNM Lampung Branch, one of the institution’s key operational units. Using field-based qualitative analysis, the research explains why many frontline employees—known as Account Officers (AOs)—struggle to reach productivity targets despite the organization’s strategic importance and expanding operational scale.
Productivity challenges in microfinance services
In financial service organizations, productivity is closely linked to service quality, efficiency, and risk management. This is particularly true for microfinance institutions such as PNM, which operate directly at the community level. Account Officers are responsible not only for loan disbursement but also for mentoring clients, monitoring repayments, and managing administrative processes.
Internal company data from August 2025 shows a clear productivity gap at the PNM Lampung Branch. Out of 1,809 active Account Officers, only 1,588 recorded financing disbursement activity. Of those, 69.14 percent were classified as non-productive, disbursing less than IDR 160 million, while only 30.86 percent met or exceeded the productivity benchmark.
Regional disparities further highlight the issue. Some Lampung operational areas recorded productivity rates below 16 percent, while neighboring Bengkulu reached more than 38 percent. These differences point to underlying organizational and human resource factors rather than market conditions alone.
How the research was conducted
Agus Dwi Anto conducted the study using a descriptive qualitative approach grounded in human resource management theory. Data were collected through:
a. In-depth interviews with Account Officers, unit heads, and administrative staff
b. Direct observation of daily work activities such as briefings, field visits, and reporting
c. Analysis of internal documents, including productivity reports and standard operating procedures
The data were analyzed using the Miles and Huberman interactive model, which emphasizes data reduction, structured presentation, and continuous verification. This approach allowed the researcher to capture real workplace experiences and identify patterns behind productivity differences.
Key findings: what drives productivity at PNM
The study identifies three internal attributes as the core drivers of Account Officer productivity.
“These attributes do not work in isolation,” Agus Dwi Anto explains in the study. “Motivation drives effort, competence determines quality, and discipline maintains consistency. Weakness in one area reduces overall productivity.”
External factors that strengthen performance
Beyond individual attributes, the research highlights several external factors that shape employee performance.
a. Leadership: Inspirational and transformational leadership from unit heads and branch managers boosts morale and clarifies expectations.
b. Work environment: Both physical conditions and psychological safety influence focus and job satisfaction.
b. Compensation systems: Fair, performance-based rewards reinforce motivation and perceptions of organizational justice.
c. Technology: Digital systems and standardized procedures help streamline tasks and reduce errors.
Together, these factors create an ecosystem that either enables or constrains productivity at the organizational level.
Implications for business and policy
The findings carry practical implications for PT PNM and similar financial institutions. Improving productivity requires integrated strategies rather than isolated interventions. The study recommends:
a. Strengthening performance-based incentive systems to sustain motivation
b. Expanding regular training and technical guidance to close competency gaps
c. Enhancing supervisory roles to reinforce discipline consistently
d. Building open communication channels to address field-level challenges
For policymakers, the research underscores the importance of human resource development in achieving financial inclusion goals. Microfinance institutions depend heavily on frontline staff performance, making investment in people as critical as capital allocation.
Author profile
Agus Dwi Anto, S.E., M.M. Perbanas Institute Jakarta,
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