THE EFFECT OF MOTIVATION AS A TOOL FOR INCREASING EMPLOYEE EFFICIENCY AND PRODUCTIVITY (A STUDY OF SELECTED BANKS IN NIGERIA)

Amount: ₦5,000.00 |

Format: Ms Word |

1-5 chapters |




ABSTRACT

The study is aimed at examining the effect of motivation as a tool for increasing employee efficiency. Motivation to work is a very important topic in management because it has direct implication for the consequences of performance and satisfaction in an organization. In attempting to do this the study has as its objective: to look at the effect of motivation on employee performance, to see if Money alone can motivate  employee,  and  to  find  out  the  major  Problems  imitating against the whole performance in the two Banks.  In all about a total of

90 persons were interviewed among the staff and management of United Bank for Africa (UBA) and Guarantee Trust Bank (GTB).The review of related literature was also conducted in order to examine the work of other authors who are knowledgeable in the field of motivation;

this constitutes the secondary data for the study.  The study also took into consideration of the methodology such as research design, population and sample size for the study, instrument and tools for data analysis. Simple percentages were used to analyse the data while chi- square method was employed to test the hypothesis.  The result of the questionnaire obtained and the chi-square test conducted form the basis for the findings, recommendation and conclusion of the survey. Some of the findings of the findings of the study reveal that employees of Guarantee Trust Bank (New Generation Bank) are well enumerated than their  counterpart at  United Bank  for Africa (UBA). The study further  reveals  that,  money  is   the  major  factor  that  motivates employees for greater performance, it supersedes all other factors. Major of the people work because of money, in order to meet their

basic needs. The study also proffers some recommendations.  These include: The motivation scheme of the Untied Bank for Africa should be improved. If pay is to motivate or indeed have any positive influence at all; management should make it fair and compensate with the work done with other people doing the same or similar jobs in the same sector. There is need for better conditions of service and to encourage productivity  and  satisfaction  of  workers.  Since  respondents  show higher dissatisfaction to promotion, advancement Prospect, Management should make sure that workers are promoted on merit as and when due.

CHAPTER ONE INTRODUCTION

1.1    BACKGROUND OF THE STUDY

In recent times, managers and management researchers have long believed  that   organizational  goals   are   unattainable   without  the enduring commitment of members of the organisation.   It has been said that the workforce remains the most critical productive asset of any Organization.   It is the human element that gives direction and dynamism to the organisation.

In fact, any organisation can only grow to the extent made possible by the Voluntary and creative application of the skills and expertise of its workforce.   It is for this reason that the search ways and means of motivating the workforce for optimal organisational performance has more or less remained a cardinal concern of management since the birth of industrial civilization.

Today, as in the early days of organizational history, managers often ask some fundamental questions: what can we do to motivate our workforce? What is the purpose of motivation? No one yet has discovered a single Technique or gimmick that answers this question.

As many still ignore that fact that no organization can survive without its workers, and the workers themselves cannot be productive if their needs are not met.

Also, managers and management researchers have long believed that Organizational  goals  are  unattainable  without  the  enduring commitment of members of the organization.

Freeman (1998: 38-39) noted that organizations, emphasized increase in  productivity  without  necessarily  considering  the  needs  of  the workers.   They are however, ignorant of the fact that organization cannot survive without its workers and the workers themselves cannot be productive if their needs may not be met.

Aluko, M.A. (2000: 32) asserted that workers should not be made to work as machines and tools whose presence in the organization is just to  perform  while  emphasis is  placed  on  productivity alone  without thinking of what will drive the employee to put on his optimum best.

Stoner (1998:463) stated that motivation is  a  human psychological characteristics, it includes the factors that cause channel and sustain human behaviours, motivation deals with “what make people think”.

Aluko (2000:32) noted that the major motivational factor is money, although we have seen that in Nigeria, money alone do not guarantee productivity.

Other non-monetary incentives such as price, job promotion, upgrading and advancement, job security and recognition go a long way to boost the morale of workers.  If workers needs are satisfied, it might lead to an increase in productivity. However, every manager regardless of the size of the organization can incorporate motivation into the work environment to stimulate and influence employee.

From  the  foregoing, since  the  study  of  motivation is  essential  for organisational survival and growth, it is an attempt by this study to look at  the  effect  of  motivation  as  a  tool  for  increasing  employee’s efficiency. A study of selected bank in Nigeria.

1.2    STATEMENT OF THE PROBLEM

Although much has been said and written on this topic, and the fact that the subject has been given increased in most organization especially in Guarantee Trust Bank and United Bank for Africa, one still finds out that productivity in most financial institution is low; it takes extra efforts for the staff to put on optimal performance.

In the light of the foregoing, the critical task of this research is to identify effective motivational strategies that could propel and increase employee efficiency in Guarantee Trust Bank and United Bank for Africa.

Also right from the beginning management of organizations has always been faced with the problem of how to motivate workers to greater performance with a view to increasing productivity. Even till now, the problem still persists in most organisations.

Therefore the problems posed by this study are:

–        Does money or monetary incentive induce workers to perform well on their task?

–        Some of the employee may not be satisfied with the present reward  system  as  been  instituted  by  management hence, management may ignore the real incentive that motivate employee.

–        Money alone is  not the only motivating force that induces employee to put their optimum best, there are other forms of this reward: praises, job advancement, higher responsibility and promotion.   The question then is, to what extent has it been incorporated into the banking industries?

–        Labour turnover is a major problem in most of Nigeria Banks.

Some banks record as much as 20% to 30% within a year.

The question then is, is labour turnover as a result of poor employee motivation?

1.3    OBJECTIVES OF THE STUDY

This study intends to:

(i)    Examine the effect of motivation in increasing employee productivity

(ii)     Find out may be money (pay) is the main motivating factor that can make employee increase their level of performance.

(iii)    Examine  other  inherent  problem  and  constraints  militating against effective employee motivation in an organization.

(iv)    Suggest personal administrative system, policy and procedure that can assist organization to highly remunerate their workforce and reduction in the labour turnover.

1.4    RESEARCH QUESTIONS

The research seeks to answer the following:

–        Does    motivation    have    any    impact    on    employee’s performance?

–        Does   many   play   a   determining   role   in   the   optimum performance of an employee?

–        Is  it  possible for  employee to  leave  his/her present job  if he/she is offered a higher package?

–        Are there any difference in what is offered now compare to other banks?

–        What are the causes of labour turnover in Nigeria banks?

–        Are there any different in motivational packages of the present generation banks compare to the old generation banks?

–        Are labour turnover more prevailed in old generation banks to new generation banks?

–        How can the present existing remuneration packages of this bank be improved?

1.5    RESEARCH HYPOTHESIS

The following research hypothesis shall be tested.

Ho: there is a relationship between motivation and productivity

Hi:    There is no relationship between motivation and productivity.

1.6    SIGNIFICANCE OF THE STUDY

–        The study will be of immense importance to different categories of people: namely individuals, students, organisations and the

management  of  Guarantee  Trust  Bank  and  United  Bank  for

Africa .

–        The research work when accomplished will create ways by which the management of Guarantee Trust Bank will reappraise there present motivation package with the aims of improving employee’s performance and reduction in labour.

–        It is also hoped to increase the level of knowledge on the existing motivation schemes in the Nigeria Banking Sector.

–        It will assist student as a reference material in their libraries.

–        It will also pose a challenge to other researchers who may be interested to research more in their area.

1.7    SCOPE OF THE STUDY

The study intends to cover Guarantee Trust Bank and United Bank for Africa, headquarter of the banks and selected branches within Lagos metropolis.  The study is limited to effect of motivation of employee as a tool in increasing employee’s efficiency.

1.8    LIMITATION FOR THE STUDY

In the course of carrying out this study, a lot of challenges stood on our way, prevalent among these are:

–        Finance

–        Transportation

–        Uncompromising attitude  of  some  interviewers hoarding of vital information by some staff of the two banks.

–        Time constraints as to the deadline for the submission of the research work.

–        Scarcity of relevant material

Despite these challenges effort were made to carryout a thorough investigation on the study without impede on the exercise.

1.9    DEFINITION OF TERMS

–        PERFORMANCE: This is defined as the ability to achieve result or given objectives (Freeman, 2000:29).

–        MOTIVATION:    This  refers  to  an  inner  drive  that  Energizes activities compels and moves an individual to  act  or behave positively on a certain manner (Stoner, 1998:463).

–        PRODUCTIVITY:   This means output per unit of Labour input, it is the balance between all factors of production that will give the greatest output for the smallest effort (Freeman, 1998:38-39)



This material content is developed to serve as a GUIDE for students to conduct academic research


THE EFFECT OF MOTIVATION AS A TOOL FOR INCREASING EMPLOYEE EFFICIENCY AND PRODUCTIVITY (A STUDY OF SELECTED BANKS IN NIGERIA)

NOT THE TOPIC YOU ARE LOOKING FOR?



A1Project Hub Support Team Are Always (24/7) Online To Help You With Your Project

Chat Us on WhatsApp » 09063590000

DO YOU NEED CLARIFICATION? CALL OUR HELP DESK:

  09063590000 (Country Code: +234)
 
YOU CAN REACH OUR SUPPORT TEAM VIA MAIL: [email protected]


Related Project Topics :

Choose Project Department