An Appraisal Of Motivation On Productivity And Job Performance Of Employees In The Banking Industry

An Appraisal Of Motivation On Productivity And Job Performance Of Employees In The Banking Industry

Abstract

This study is aimed at examining the impact of motivation on productivity and job performance of employees in the banking industry. The study will be conducted using questionnaires and face-to-face interviews. The data will be analyzed using both the descriptive statistics, that is, frequency and percentages analysis and the chi-square method. The results obtained from the hypothesis showed that employees employees different rewards given to them by their employers. The findings of this study would be a handy tool, which could be used to provide solutions to management-staff conflict that has resulted from poor reward system or upward review of minimum wage. It is being recommended that the company should compared its conditions of service with that of similar organization in the industry to find out area of differences which can be improved upon.

Table of Contents

Preliminary Page(s)

• Title
• Declaration
• Approval
• Dedication
• Acknowledgement
• Abstract
• Table of Content

Chapter One

Introduction

• 1.1 Background of the Study
• 1.2 Statement of Problem
• 1.3 Objectives of the Study
• 1.4 Research Questions
• 1.5 Research Hypotheses
• 1.6 Significance of the Study
• 1.7 Methodology
• 1.8 Limitation of Study
• 1.9 Outline of Chapters
• 1.10 Definition of Terms
• References

Chapter Two

Review of Relevant Literature

• 2.1 Introduction
• 2.2 Review of Relevant Theoretical Works
• 2.3 Theories of Motivation
• 2.4 Concept of Production
• References

Chapter Three

Research Methodology

• 3.1 Introduction
• 3.2 Nature of Research Methodology
• 3.1.1 Research Questions
• 3.1.2 Research Hypotheses
• 3.1 Research Design
• 3.2 Population of The Study
• 3.3 Sampling Technique And Sample Size
• 3.4 Instrumentation
• 3.5 Method of Data Collection
• 3.6 Method of Data Analysis
• References

Chapter Four

Data Presentation and Analysis

• 4.0 Introduction
• 4.1 Administration of Questionnaire
• 4.2 Presentation of Socio-Demographic Data
• 4.3 Data Analysis and Interpretation
• 4.4 Test of Hypothesis

Chapter Five

Summary, Recommendations and Conclusion

• 5.1 Summary
• 5.2 Recommendations
• 5.3 Conclusion
• Bibliography

Chapter One

1.0 Introduction

The importance of motivation in any organization cannot be overlooked, especially in the banking sector. In the past years, it is understood that human resources i.e. labour and entrepreneurial ability are the most important of all factors of production.

In Nigeria today, workers (employees) are believed to be motivated to work through the use of money as incentive. However, one of the basic assumptions in managerial practice is that workers can be motivated towards productivity by satisfying their needs. This assumption purports that every worker has some internal urge which propels him towards self fulfillment, not only on the job or at work, but also towards the realization of his life ambition Ogundele, ( 2005).

1.1 Background of the Study

The banking sector in Nigeria has witnessed tremendous changes in their business activities. These changes are in the areas of high productivity and profitability.

The responsibility of making the work place favorable lies with the manager. He deploys people well in the areas they can work best. He deploys available personnel to an array of important tasks, motivates them during the time it takes to complete the work. He motivates individual employees by finding the particular challenges, rewards, types of support and amounts of freedom that brings out the best in each of them.

Methods of deploying, motivating, tracking and redeploying people remain primitive when compared with other processes of improvement technologies. Although knowledge and skills, Inventories, measures of character traits; categorization of personality types and categorization of personality, types and technologies of management styles can be ultimately achieved but very limited in their ability to guide managers or employees. They give very little insight into how to assign an individual to a particular task in a complex real life situation.

The employees need to know that they can seize opportunities and make success out of a fluid organizational environment. Motivation and accurate match of talent with task are integral to the process of determining the assignment Peters and Waterman, (1982).

Since people will produce better results if they are allowed, supported and encouraged to work in the way they work best, the purpose of this research work is to search into how motivation impacts productivity on the part of the employees.

1.2 Statement of Problem

Quite often, management is so much concerned with what it can get out of employees in terms of best job performance, profitability or results. Little or no attention is paid to the motivation of employees who are human beings and not machines. This slow attitude of management in failing to appreciate that management technique can be developed has resulted in a great wastage of human resources.

The dissatisfaction of employees are more often than not, reflected in high labour turnover, frequent complaints, strikes and determination in job performance. Ojaide, (1998).

1.3 Objectives of the Study

No research work can be embarked upon without a definite pursuit or goal. Thus, this study must of necessity have its objectives, which are;

1. To examine the role that motivation plays in employee’s productivity.
2. To analyze various techniques or method of motivation in relation to the employees’ perception of the most effective technique or techniques of motivating a worker on the job to perform at his best which without doubt, will eventually proffer a lasting solution to the problems engendered by the managements’ attitude towards motivation.

1.4 Research Questions

The following research questions are drawn to guide the study

1. To what extent have employee motivations increased organizations’ productivity and profitability?
2. How does an employee consider motivation as a catalyst to their productivities in the organization?
3. Does money serves as the only incentive used to motivate employees in organizations?
4. Does job commendation serves as an incentive for good job performance in organizations?
5. To what extent are the employees appreciated in the success of their organizations?

1.5 Research Hypotheses

The hypotheses to be tested in this study are;

Hypothesis 1

• Ho: That there is no direct relationship between job commendation and productivity
• Hi: That there is a direct relationship between job commendation and productivity.

Hypothesis 2

• Ho: That motivation does not serve as a catalyst for employee productivity in their organizations.
• Hi: That motivation serves as a catalyst for employee productivity in their organizations.

1.6 Significance of the Study

This study will bring about a lot of benefits to the society as a whole. Motivation, which is the livewire of the business organization, will receive a boost from this study, as it will generate materials, which could be of help to managers who will understand how they can motivate their employees to believe in a way that will move the organization towards the attainment of its objectives.

Again, it will help the general public to be aware of some theories of motivation with the broad framework of expectancy theory. The mangers will also know the importance of job satisfaction as it relates to motivation and the motivational difference that exists among various types of workers.

On the other hand, it will serve as bedrock for further studies. By the time the different motivational techniques are applied, the level of productivity will increase and this will help develop the nation’s economy.

1.7 Methodology

The method to be used in this research work will include primary and secondary data.

The primary data will be used extensively through questionnaires and personal interview. The data collected through questionnaires will be analyzed with the use of tables and simple percentages so as to provide easy understanding of results. The chi-square analysis will be used to test the hypothesis formulated for this study.

The secondary data will be used through journal, articles, and publications e.t.c.

1.8 Limitation of Study

The investigation and reporting are limited to the area of study alone; that is the management and staff of Eco Bank Nigerian Plc, Alaba International Market, Ojo, Lagos, due to constraint of time, materials and human resources.

1.9 Outline of Chapters

This study divided into 5 chapters;

1. Chapter one: Introduction
2. Chapter two: Literature Review
3. Chapter three: Research Methodology
4. Chapter four: Data analysis and Interpretation
5. Chapter five: Summary and conclusion

1.10 Definition of Terms

(1) Motivation:

Stimulate the interest of or inspire

(2) Profitability:

Bringing profit

(3) Incentives:

Something that encourages action or effort

(4) Commend:

Praise, entrust

(5) Entrepreneur:

A person who sets up a business at considerable risks.

(6) Ambition:

Strong desire to achieve something

(7) Sector:

Part of an Area, a branch of an activity

(8) Purport:

Pretend; be intended to seem.

Chapter Five

Summary, Recommendations and Conclusion

5.1 Summary

The major objective of this study is an investigation of An appraisal of motivation on productivity and job performance of employees in the banking industry. Essentially, motivation is viewed as process of arousing, directing and maintaining behaviour towards a goal.

An attempt has been made in this study to trace the history of the concept of motivation and define the word, various theories were examined and the experience is that the level of understanding concerning work motivation has increased considerably in the past several decades.

The study suggests that there is sizeable discrepancy between theories of motivation. The reasons for such discrepancy can be traced to differences in organizational settings and culture in Nigeria a peculiar sample. The study also suggests that no one statement about motivation at work can apply at all times or to all circumstances.

The study have shown however that creations of a stimulating productive and satisfying work environment could be beneficial for both management and workers if honest concern is shown for all parties involved. It is my belief that the managers have a great role to play in this arrangement for improvement. One of the most important lessons from this is perhaps the fact that managers must in personally involved and take active part in ongoing motivational processes at work, if they really wish to improve performance and productivity.

There is no shorter cut to it than getting the management committed to its success. As a first step manager at various departments should examine themselves and be clear in their minds what they want, and what their own roles should be on the organization settings. Further, managers should be sensitive to variation in employee’s need, abilities and traits and not applying a blanker treatment, not nepotisms or sectionalism to any.

People are different, they differ widely in their education, background, personal attitudes and expectation. These differences should be taken into consideration in selecting the best way to motivate subordinates. An approach that is successful with employees who want their work to be challenging and free from close supervision for example will be considerably different from the approach that is equally successful with employees, who want to be told exactly what they are supposed to do each and who want to avoid responsibility for any mistakes that they make.

The findings from the pump to the need for management to monitor the behaviour of their employees on a continuing basis as a deliberate policy and practice and to use such information as a motivational barometer to identify potential trouble or problem spots. This should not be on abhorring basis rather it should continuous.

It would appear that a key factor in motivating employees is to involve them in the process aimed at attaining organizational effectiveness because without their co-operation and support a great deal of managerial energy may be wasted.

It is not an overstatement to say that workers play a vital role in the success of all organization, invariably; the motivation of those workers becomes highly necessary in any establishment.

From the analysis of the research, it is certain that the staffs of Eco BankPlc are prepared to give their best to the growth of the banking industry if they are given proper motivation.

It is an acceptable fact that human wants are insatiable. This explains why the staffs of the company used as a case study want an improvement made on the existing motivational techniques.
The researcher found that there would be peace, harmony, dedication to work and reduced rate of labour turnover once there is appropriate motivation.

5.2 Recommendations

After a thorough study of Eco BankPlc the researcher deems it necessary to give useful recommendation based on the findings:

There should be more consultation between the management and the managers in the one hand, and the managers and the workers on the other hand. The use of the internal memo as the channel of resolving crisis or communicating grievances with the staff by the line managers should be discontinued;

Staff development to enhance productivity and promote self-fulfillment should be encouraged as a matter of deliberate policy;
There should be a searchlight on the leadership style in the organization and efforts should be made to promote only productive and effective workers. If this is to be achieved, appointment to leadership positions in the organization should weigh more towards capability of the staff that has attained the basic conditions, rather then on brotherly relationship or godfather;

There should be more delegation of power at all levels of the organization and a more towards decentralization. There is at moment too much centralization with its attendant problems;

Efforts should also be geared at work enrichment for the various cadres, and more opportunity for decision-making should be given to supervisors.

Also, management of organization should continually challenge to develop wage/remuneration policies and procedures that will enable them to attract, motivate and satisfy their employees. The findings and suggestions of this study would be a handy tool, which could be used to provide solutions to management-staff conflict that has resulted from poor reward system or upward review of minimum wage.

The recommendations if observed and implemented will contribute immensely to the survive of the organization it is being recommended that the company should compared it’s conditions of service with that of similar organization in the industry to find out area of differences which can be improved upon. This obviously will enable the company to provide motivational techniques therefore not available in the company and improve on the existing ones. This will in essence disabuse workers of the idea of leaving the company of offered jobs in other companies.

Efforts should be made to seen that workers participate in decision making especially those that affect them, rather than seeing (workers) as those employed to work silently for their pay.
Management should make sure that the communication gap between top management and junior staff is bridge as soon as possible so as to achieve good human relations among the entire staff.

It’s important to note that environment under which their workers work is conducive enough in other that their potential can be fully utilized.

Individual workers goal should be integrated into the organizations goal. This will undoubtedly make the worker feel a sense of belonging and they would be willing to give their best towards the attainment of the organizational objective.

In view of the demand of the modern day automated office, regular course and adequate training should be provided for staff of all categories. This will sharpen their skills and they will become more efficient and productive, managers should be trained on hour to apply the motivational techniques so as to achieve the intended objectives. Staff buses should be provided to convey staff to and fro to the bank, so that lateness could be curbed.

5.3 Conclusion

The importance of motivation in the day to day performance of worker’s duties cannot be over emphasized, especially when it come to being appraised for a job done. It is a well-known fact that human performance of any sort is improved by increase in motivation. Going by the findings of this study, it can easily inferred that employee motivation and reward package matter a lot and should be a concern of both the employers and employee, in public institutions and other organizations.

The results obtained from the hypothesis showed that workers employees different rewards given to them by their employers. Hence, when these rewards are not given, workers tend to express their displeasure through poor performance and non-commitment to their job. It is therefore imperative for the organization (public and private sectors) to consider the needs and feelings of its work force and not just overlook them in order to safe guard industrial harmony, because “a happy worker they say is a productive worker”.

Finally, it is believed that if the management makes positive effort at implementing these suggestions, ‘life’ will certainly return to the company and the organization will regain its cherished tradition. The self-esteem will be heightened and the workers will work with a strong sense of mission ands dedication to duty so that they can effectively assist in the management of our scarce resources for the attainment of organizational policies, objectives and programmes.

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