- AN ASSESSMENT OF STAFF MOTIVATION AS PANACEA FOR IMPROVED ORGANIZATIONAL PRODUCTIVITY (A CASE STUDY OF LASACO ASSURANCE PLC)
- THE EFFECT OF MOTIVATION ON EMPLOYEES' PRODUCTIVITY (A CASE STUDY OF FRIST BANK OF NIG PLC HEAD OFFICE)
- IMPACT OF PERFORMANCE APPRAISAL ON EMPLOYEES PRODUCTIVITY (A CASE STUDY OF NIGERIA BREWERY)
- MOTIVATION OF EMPLOYEES IN AN ORGANISATION (A STUDY OF TOWER ALUMINIUM COMPANY
- IMPACT OF LABOUR TRAINING ON EMPLOYEES PRODUCTIVITY IN THE DEVELOPMENT OF NIGERIA ECONOMY (A Study of Nigeria Postal Service)
- EFFECT OF EMPLOYEE PERFORMANCE APPRAISAL AND MOTIVATION STRATEGY ON EMPLOYEES IN THE BANKING INDUSTRY (A CASE STUDY OF WEMA BANK PLC)
- EFFECT OF MOTIVATION ON EMPLOYEES PRODUCTIVITY (CASE STUDY OF FRIST BANK OF NIG PLC HEAD OFFICE)
- THE IMPACT OF LABOUR TRAINING ON EMPLOYEES PRODUCTIVITY IN THE DEVELOPMENT OF NIGERIA ECONOMY (A Case Study of Nigeria Postal Service)
- THE EFFECT OF COMPENSATION ON EMPLOYEES PRODUCTIVITY (A Study of Radisson Blu Hotel Ltd Victoria Island Lagos)
- THE INFLUENCE OF SALE PROMOTION ON EMPLOYEES PERFORMANCE IN AN ORGANIZATION (A CASE STUDIES OF SOME BANKS)
THE INFLUENCE OF MOTIVATION ON PRODUCTIVITY AMONG EMPLOYEES
This study was embarked upon to examine The Influence of Motivation on Productivity among Employees (A Case Study of Finbank Plc., Lagos State). The survey research design was adopted to conduct the study. The study was set to achieve the following objectives: to ascertain whether motivation could influence the productivity of workers in the banking industries; whether employees at the marketiing department of Finbank are well motivated; if bank workers attach much importance to their being motivated or not; whether management understands the importance of motivation in the growth of bank workers and the banking industry, and to make necessary recommendations that would assist bank management in taking decisions relating to effective motivation of bank workers in the banking industries in general and marketing department in particular. Two hypotheses were postulated following some research questions. Purposive sampling method was used to select the respondents mentioned earlier for the study, while simple random sampling technique was adopted to select one hundred respondents from the marketing department of the bank. This was to give every member of the population of the study an equal opportunity to have been selected without bias. At the end of the analyses of the data collected from respondents, using a self designed questionnaire instrument, the study made the following findings after the hypotheses were tested: that motivation could not significantly lead to decrease in the productivity of workers at the marketing department of Finbank Plc., Lagos rather, it could facilitate workers to perform well and produce more and that there was a significant difference in the productivity of bank workers who were motivated and those who were not motivated at the banking sector. Those who were motivated performed better than those who were not. Other discoveries were equally made such as, that bank workers of Finbank Plc. generally were motivated by the management in different ways. Bank workers generally appreciate when they are motivated and reflect the same gestures in their performance and commitments to realizing organizational objectives. It is recommended among others that bank management should endeavour to introduce and sustain good motivational approaches to encourage the performance of workers in order to increase their productivity and attain the goals of the organization; bank employees should always endeavour to make their displeasures and needs known to the management so as to enable organization understand where and when to intervene in helping them to achieve their personal objectives while working for the growth of the organization and management should create an enabling good employer-employees interactive environment. This would help in the maintenance of peace and harmony in the bank and usher in more productivity to the industry.
TABLE OF CONTENTS
Title page i
Table of contents v
CHAPTER ONE: INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of the Problem 5
1.3 Purpose of the Study 6
1.4 Research Questions 7
1.5 Research Hypotheses 7
1.6 Significance of the Study 8
1.7 Scope of the Study 8
1.8 Limitations of the Study 8
1.9 Definition of Concepts 9
CHAPTER TWO: LITERATURE REVIEW 11
2.0 Introduction 11
2.1 Concept of Motivation 12
2.2 Theoretical Framework 16
2.3 Types of Motivation 20
2.4 Theories of Motivation 25
2.5 Theories X and Y 35
2.6 The Process of Motivation 37
2.7 Problems Associated with the Absence of Motivation 40
2.8 Solution to Motivation Problem 41
2.9 The Meaning of Workers’ Productivity 43
2.10 Major Factors that Influence Workers Productivity 44
2.11 Compensation and Worker Productivity 47
2.12 The Importance of Financial Compensation 50
2.13 The Need for Effective Compensation and Work Performance 54
2.14 Elements of a Compensation Package 56
2.15 Summary of the Review 61
CHAPTER THREE: METHODOLOGY 62
3.0 Introduction 62
3.1 Research Design 63
3.2 Sources of data collection 63
3.3 Population/Sample Size 65
3.4 Sample Techniques 66
3.5 Research Instrument 66
3.6 Validity of Research Instrument 67
3.7 Reliability of Research Instrument 67
3.8 Procedure For Data Collection 67
3.9 Procedure For Data Analysis 68
CHAPTER FOUR: DATA ANALYSIS AND INTERPRETATION 69
4.1 Data Analysis 69
4.2 Hypotheses Testing 83
CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND
5.0 Introduction 86
5.1 Summary of the Findings 86
5.2 Recommendations 88
5.3 Conclusions 90
1.1 Background of the Study
Motivation is the willingness to exert high levels of effort toward organisational goals, conditioned by the ability to satisfy some individual needs. As a matter of fact, motivation is a way of making people or someone to put in his or their best in working for you, by appreciating their contributions materially or morally. Obisi (2006) affirms that motivation is the willingness to work. He opines that it is the act of stimulating someone or oneself to get a desired course of actions, to push the botton, to get a desired reaction. No matter how qualified and skilled an employee is, without adequate motivation, he or she would be like an engine without oil which will eventually break down (Obisi, 2003).
In every human society, normal individual persons and groups engage themselves in different work activities in order to make ends meet. It is common knowledge that the more people attain their desired goals and objectives by performing one job or the other, the more their interest would be aroused, and the more input they will make to promote their individual standards and most importantly, to the growth and sustenance of the organisations where they work. Thus, in order to win the interest and support of workers, good organisational managers or leaders usually employ one kind of motivational approach or another in other to spur their workers towards high productivity in the banking organisation.
For motivation tools to succeed, it must be dynamic. Motivational techniques that are not flexible, are dangerous and counterproductive. Organisations must and should not forget a satisfied need is no longer a motivator of behaviour. Environmental and organisational and even individual changes should not be forgotten while organising and implementing motivational tools (Ayo, 2003).
Motivation has so far been identified as a very important tool for organisational high productivity and the major agent for the achievement of peace and harmony in both public and private sectors of the nations economy. In the banking sector, for example bank workers need to be motivated in order to work well for high productivity in the banking sector. People naturally seek jobs that attract high employee satisfaction and restrain themselves from jobs with little or no motivational incentives. In fact, the strength of motivation is enormous in the lives of employee in any establishment be it corporate organisation like the banking Industries. However, it is regrettable to note, that most companies owned by the government or private capitalists do not seem to pay much attention to the welfare of their employees irrespective of their awareness of the challenging roles of motivation in the lives of their workers, and that of the organisation. The absence of motivation in any organisation easily brings conflict between the management and the workers who will certainly see the management as exploiters, greedy and being inhuman to fellow men (Onuoha, 2005).
More often than not, the persistent quest for making abnormal profit divert the attention of organisational managers from devicing better means of appreciating their workforce. At the banking sector like Finbank Nigeria Plc for example, most entities appear to be more particular about making much profits by compelling their staff or employees to meet very high marketing targets on monthly basis without commensurate motivation, in terms of work incentives and fringe benefits. No wonder, in some institutions such as the schools, teachers and lecturers embark upon constant strikes or industrial actions to redress brazen negligence and lack of motivation by their employers (Osuoha, 2004).
Some end up loosing their jobs if, they are unfortunate not to meet up with the expected imposed outrageous targets. Even when most employers seem to be better remunerated, they hardly have time for themselves. Hence, some especially, the socialites, find it boring being caged or exposed to the field in the name of marketing for very long hours daily. This however, seems to have a direct influence on the work performance of individual workers especially the bank workers.
In Finbank, there is a need to improve and motivate staff in terms of good salaries and better welfare packages. This is crucial because, bank workers are the strength and support for the existence of every bank organisation even though the management directs and monitors the activities of the employees and affairs of the business. Many organisations do not seem to have realised that it is cheaper and safer to motivate workers than treat them with contempt and disdain. The more satisfied a worker is, the more devoted he or she would be to the organisation and may not bother looking elsewhere for better jobs. Such consistency certainly, would promote the productivity of the workers and boost the revenue and profit of the bank or establishment (Aikomu, 2003).
People are more likely to jump from one job to another if they are not well taken care of in terms of better salaries and wages in addition to good welfare packages. Motivating workers would help bank employers and other industrial outfits compete favourably with their other competitors in the business. Perhaps, the banking sector management ought to be properly guided on the relevance of attaching much importance to the well being of their employees. This would help in not only increasing the work performance of individual workers and organisational productivity, but also in achieving good relationship between the management and workers. This would inevitably usher in peace and harmony in the banking structure (Nlem, 2002).
1.2 Statement of the Problem
Neglect for the motivation of bank workers by not providing adequate salaries and wages as well as good welfare packages seems to have become the order of the day in the banking sector and probably in other organisations. Bank managers often complain of not having time for their personal needs and responsibilities due to the long hours of service that they put in their offices. The situation equally appears to have been extended by compelling every employee whether at the operation, customers service section, and particularly, the marketing department to attract some specified amount of profit to their finance without commensurate motivation in terms of work benefits and incentives to workers.
This however, kills the morale of workers and reduces their performance, efficiency and productivity. This study is set out to discover whether motivation has anything to do with bank employees’ productivity or not, with special interest in Finbank Nigeria Plc, Lagos State. It will also find out why some managements have negative attitudes towards motivation of workers.
1.3 Purpose of the Study
1. The main purpose of this study was to ascertain whether motivation could influence the productivity of bank employees in the banking industry or not.
2. Whether employees at the marketing department of Finbank Nigeria Plc are well motivated or not,
3. If bank workers attach much importance to their being motivated or not,
4. whether there was any difference in the productivity of bank workers who are motivated and those who are not,
5. Whether management understands the importance of motivation in the growth of workers and organizations, and to
6. Make necessary recommendation that would assist management in taking decisions relating to effective motivation of bank workers.
1.4 Research Questions
The following research questions will be asked to guide the study:
1. Does motivation lead to increment in productivity of bank workers?
2. Are employees of Finbank Nigeria Plc well motivated?
3. Do bank workers attach much importance to their being motivated by the management or not?
4. Will there be any difference in the productivity of bank workers who are motivated and those who are not?
5. Does the management understand the importance of motivation in the growth and development of bank workers and banking organisations?
1.5 Research Hypotheses
The following hypotheses will be postulated in order to help in establishing the relevance of the study.
1. H0: Motivation cannot significantly lead to increment in the productivity of workers at Finbank Nigeria Plc.
2. H0: There will be no significant difference in the productivity of bank workers who are motivated and those who are not.
1.6 Significance of the Study
The study would be of much benefit to the entire management of the Finbank Nigeria Plc and other banking industries in Nigeria with regard to developing positive attitude towards the motivation of bank workers. Also, the employees themselves would benefit from the awareness which this study would have created among organisational managers because, their welfare would have been taken care of. The organisational output would also, increase since workers are expected to put in their best, after being motivated thus, promoting the profit margin of the organisations. Furthermore, the whole society would enjoy relative peace as workers and employers conflict would have been curtailed as a result of the good treatment the former would have received from the latter.
1.7 Scope of the Study
The study particularly will cover members of staff of Finbank Nigeria Plc in Lagos State.
1.8 Limitations of the Study
The study was limited by the chances of getting the people within the marketing department easily for the collection of data since they are mostly busy with field operations. Time and protocol of obtaining clearance from the branch managers before, having access to interact with their workers especially on official hours also will limit the study.
1.9 Definition of Concepts
The following terms are defined in the way they will be used in this study.
Motivation: This is the process of encouraging workers to render their utmost or efficient performance to the organisations where they are employed in order to achieve maximum productivity and profit.
Workers’ Productivity: This has to do with the total output or result of work obtainable from the input of employees in any organisation. In other words, it is the total production level of all the workers in a company, industries, schools and other parastatals within the private and public sectors.
Motives: The inner state that energizes, activates, moves and directs or channels behaviour towards goals. The main spring of action.
Incentive: Bonuses given in exchange for a job properly done
Impact: This means the effect it has on factors.
Goals: Refers to as “hoped for” reward towards that which motives are directed.
Productivity: The total volume of goals and services produced per worker within a specific period of time in a given production unit.
Employee Behaviour: Refers to manners, moral conduct and treatment shown to or towards management
Motivational Technique: These are means or incentives that managers/ organisations use in motivating or stimulating their employees.
Job fulfillment: This is the final result an organization intend to see from the employees after being motivated.