The Effect Of Motivational Techniques On Bank Performance (A Case Study Of Access Bank Plc Ilorin)

Project and Seminar Topics with material for Banking and Finance

Proposal

1.0 Introduction

The term motivation originated for the latin word “movere” which means to move. This definition however, is too narrow to described because of its vary way in complete process. There is not doubt that motivation is the key when it comes to the issue of human resources management in a bank over the year, social scientist have come up with different theories and models on this study of importance of motivation in an organization.

1.1 Background of the Study

For many years men have sought ways of encouraging their subordinate to work well the old established way is the reward punishment system of the so called hedonist whose view of man is a creature whose objectives in life are to seek pleasure and avoid painful experience.

In some organization, because of climate the type of work and tradition. Financial incentives may be quite effectives in raising productivity while in some, a system of payment may be preferred that retain much of the incentive element but which offer stable wage.

1.2 Statement of the Problem

Motivation given to employee of a company could be viewed from two opposing end. On one hand employees enjoy benefit land on the other hand; it is a cost to the employer. These two have been reconcile in order to fulfill the organization goals and objective this research work was embarked upon to know the factor to be considered before motivational techniques could be applied, the ways by which organization can motivate its employees and the motivate its employees and the motivational instrument the organization can use to motivate their employees

1.3 Justification of the Study

The primary task of any manager or supervisor is that of maintaining an organization that function affectively. To do so, he must see that his subordinate work efficiency and effectively and produce result that are beneficial to the organization, the study will act as a guide for the government in finding out the reasons behind the problem of inefficiencies in the public sector and provide guideline in solving these problems.

1.4 Objective of the Study

The purpose of these studies is to provide ways of motivating workers in the active performance of their work, to study the factor to be put into consideration when applying the motivational techniques and to also discuss the different motivational instruments available to the bank worker and the effect of using the wrong instrument on them. Other objective of these studies is to appraise and evaluate all the motivational techniques that are operational in Access Bank Plc Ilorin branch and find out employees perception of fringe motivational techniques in access bank Plc, Ilorin branch.

1.5 Scope and Limitation of the Study

This study is focus on analyzing what motivational techniques are like or bank performance and how they are generally applied to motivate employees and improve their performance. A more detailed research would be time constraint, non-available of information and the volume of work required and also the financial constraint.

1.6 Significance of the Study

Because of the in dispensable role played by motivation in organization this research is found useful in many ways by organizations, government parastatals, business firm and most especially access bank Plc which is my case study

1.7 Historical Background of Access Bank Plc

Access Bank plc, commonly known as Access Bank is one of the deposit money bank in Nigeria. The bank is licensed by the Central Bank of Nigeria, the national banking regular. It was founded in 1989 its heads quarter is located in Lagos state Nigeria. It has so many braches all over the country, but it branch in Ilorin, Kwara state in my case study.

1.8 Research Methodology

The different method of collection of data and information would be explained and well as the methodology for data analysis

1.9 Definition of the Key Terms

Motivation:

This can be described as the incentive reason or predisposition to act in a certain manner inherent of while motivated is the act of lending of while motivational is the act of tending or intending to motivate someone

Techniques:

Can be defined as ways of doing something, especially one in which you have to learn special skills

Bank:

Can be refers to as an organization that provides various financial services such as keeping and lending of money.

Performance:

Is the act of performing something or a particular task very well or badly. It is how or badly something is done

Chapter One

1.0 Introduction

1.1 Background of the Study

The term motivation originated for the latin word “movere” which means to move. This definition however, is too narrow to described because of its vary way in complete process.

Motivation is defined as an individual needs desires and concept that has cause people to act in a particular manner. Motivation has been link with urges, in strict, purposes, goals, desires involving the physiological social aspect of human being. Motivation is necessary in order to stimulate employees to work toward achieving the set objective of the organization.

For many years have sought ways of encouraging the subordinate to work well. The old established way is the reward punishment system of the called “he dorists” whose view of man is a creature whose objective in life are the accent was on punishment, but in more recent times, the reward system has been applied, for example in the form of bonus scheme , profit sharing& merit rating however, during the past four decades, the quest for better ways of motivating people at work has caused some researchers to concentrate on the psychological factor that stimulate worker are developing the incentive of financial reward the choice between financial motivation and psychological motivation has been the subject of much controversy, but one thing is clear, that is dangerous to generate about motivation, various organization to make employees to achieve greater productivity in their work motivation however, is seen as the satisfaction of human needs in his working place with low motivating, factor tends to low productivity.

Some organization are continually faced with the fact that vast difference exist in life performance of group of employees. Vital question, which this research work intend to answers includes the theories of motivation. What is the link between motivation and productivity and concept of motivation.

Motivational techniques are those things management have in use of a tool to motivate their employees. It is imperative to say that any management that refused to use these techniques will at all end of it record high turnover and might eventually give up in the business world.

Productivity is the balance between all factors of production that will give greater output for the smallest effort.

Productivity can also be expressed as the ratio of output to input and the most commonly used formula for productivity equal unit of output divide by man hours. But this appears to be over simplified since man hour implies labour of input or resource. It has be observed that workers productivity in Nigeria is affected adversely by on the attitude of average Nigerian workers and the dynamic of social system in which he finds himself.

The concept of motivation in organization has received increased attention in recent years among organization researchers. There are at least three major reason on interest first, the ever increasing external force of national and international competition, economic, social technological and governmental condition have force management to developed and acquire new techniques and mechanism to increase or at least maintain the level or organization efficiency and effectiveness. This however, requires the effective utilization of all the resources of the organization. i.e financial, physical and human.

Most theories contemporary motivation lists show that one believes money to be unimportant in affecting the behavior of people at work. Instead, there is much evidence to the contrary. Several researches have attempted to list the needs of workers in order of importance and have show that while managers believes their worker consider pay to be of prime importance, the workers themselves sometime place money way down the list below such factor as job security and work which is both interesting and worthwhile. The most importance ways of encouraging people to work well fall into four categories ranging purely monetary inducement to mere enjoyment of working.

In some organization, because of climate the type of work and tradition, financial incentives may be quite effective in raising productivity while in some as much of the payment may be preferred that retains much of the incentive element, but which offers a stable wage. Such payment known as measured day work obviates many of the difficulties caused by direct incentives of the remaining two categories, one contain the risk element of the carrot and stick management philosophy, relying on the traditional method of supervision cajoling, inducing, encouraging and threateing people achieving their targets. The extreme of the techniques of management ensures that the environment and the job are stimulating in the themselves and therefore external and therefore external incentives are unnecessary because the will to work comes form within the worker. The last approach seems the most attractive because it appeals to human needs, which allow people to do good job and to complete a test because they have the wish to do so and not merely to avoid loss of bonus or the pleasure of their superiors.

However, it is pertinent note that the urge to satisfy the needs of employees, which might have resulted in low performances, bring about the introduction of motivation to serve as an organizer for such employees.

Although, there is no universally accepted group of practice embraced by the term motivation, but generally, it has to meet two tests. Firstly, it must provide a it must provide a specific benefit to the employee. And secondly, it must represent a cost to the employer. In a developing country like Nigeria, the growth motivation has been primary influenced by economics factors, some have from grown as a result or pressive from union and some sheer limitation.

In access bank Plc there are some motivational techniques carried out to motivate and encourage efficiency in ht e workers. This study is aimed at examine the adequacy of these techniques.

1.2 Statement of the Problem.

Motivational techniques to employees of a company could be viewed from two opposing ends on one hand, employees enjoy benefit and on the other than, it is a cost to the employer. These two have been reconciled in order to fulfill the organizational goals and objectives. In addition to basic wages, substantial portions of the total labour cost in many companies today, concern motivation. Furthermore, it is now apparent that some employees feel entitle to certain percentage of their company’s profit as well as product. The above situations no doubt possess a lot of concern to industrial managers and entrepreneur of small and medium size companies. The problems of motivation therefore, are in it nature of demand, applied application for and cornon application. For instance in a country where government has not been able to adequately cater for the need of their citizen, the tendency is for the industrial or commercial concern to undertake some of the basic needs e.g medical treatment, house allowance, transport allowance and so on. Although most companies are not keen at granting motivation because of the likely noticeable financial impact on their annual profit they are often forced by the industrial union such as Nigeria labour congress (NLC) to accept. Sometimes, before such accord is reached, there may be strike actions and lockout and possibility the intervention of the government. In the process the business may suffer the employees may lose wages the customer would be affected and the shareholder will definitely may want to express their concern. Also during the period of National Economics decline in business, most companies may not be willing to grant additional motivation because of the fear of not achieving the company desired goals and objective. It may tend to wider the gap between the junior and the senior workers (a situation that may not motivate the junior employee’s behavior). By the time the organization realize another set of demands by the workers might have crept in.

It is however, appears the days of cleans wages are gone forever, workers will continue to demand for salaries supplement whether or not those salary supplement will indure employees to put in their best at all times will continue to be a subject for research also, it has been assured that motivated workers produce unmotivated employees.

In addition, this research work was embarked upon because certain problem was raised, the problems are as follow:

What are the factor to be considered before motivational techniques are applied and hw many forms of motivational instrument should used at a time
What are the some of the motivational instrument instruments the organization used to motivate its workers and why do you employees prefer different ways of motivation.
What are the particulars ways an organization can motivate its employees and the effect on the organization when the wrong kind of instrument of the motivation are used.

1.3 Justification of the Study

The primary task of manager or supervisor is that of maintaining an organization that functions effectively. To do so, he must see that his subordinate work efficiently and effectively and produce result that is beneficial to the organization. Since every action of the manager task is an organization stimulates a reaction in its employees, he has no choice of whether or not he motivates them, only of how it does it. Will his action be effective so that the subordinates work for the benefits of the organization or ineffective to the organizations detriment? It is the question on the techniques on how to empty effective motivation that the study is concern about.

However, this study will be of great importance to the management of other organizations because it will help them to form a baseline from which to examined their motivation techniques on bank performance and determined their adequacy. It will also serve a great purpose to the government because in Nigeria today, the government is the greatest employer of labour. Government owned organizations employ more labour than the private counter parts. It is quit disheartening to note that the highest amounts of inefficiencies are recorded in the government owned organizations.

These efficiencies results to a large extent, from the governments in ability to extend motivational techniques on how to improve the performance of their workers.

Lastly, the study will act as a guild for the government in finding out the reasons behind the problems of inefficiencies in the public sector and provide guild lines in solving these problems.

1.4 Objectives of the Study

The purpose of these study is to determined the effects of motivation in Access Bank Plc, Ilorin Branch, to its employee as a way of enhancing there performances.

However, the specific objectives of the studies are:

To appraise and evaluate all the motivational techniques those are operation in Access Bank Plc, Ilorin branch.
To find out the effect of these techniques on workers performance.
To find out employees perception of fringe motivational techniques in Access Bank Plc, Ilorin branch.
To find out management view of motivational techniques.
To suggest the techniques that are necessary to motivate the employees, but which are offer by the organization.
To recommend how to use these techniques in motivating the employees to improved their working performance.

1.5 Scope and Limitation of the Study

This study is focused in analyzing what motivational techniques are like on bank performance and have they are generally applied to motivate employees and improved their performance.

However, this study will be limited to Access Bank Plc, Ilorin branch because of some constraints, which may make it difficult to cover organizations. in same line of operation. Therefore, it will be based on facts and data collected from Access Bank Plc, Ilorin branch.

A more detailed research would be paper on the limiting factors which include;

Time constraint
Non available of information and the volume of work required
Financial constraint.

Lastly, the inability of respondents to come out with accurate and necessary information posses serious constraints, because of the employees feels that revealing some information may means contravening the policies and regulations of the bank. All these situations invariably have some effects on my facts and findings, but I believe they are not enough to validate the findings.

1.6 Significance of the Study

As a result of the indispensable role played by motivation in an organization, this my research work would be found useful in many ways to the followings;

Organization, government parastatals, business firms and Access Bank Plc my case study.
This research in it knowledge has been enhanced about the topic and the hidden secrets of motivation has been discovered.
Other researchers such as student, academics and analysts, will find it useful to serve as a background for further studies.

1.7 Historical Background of Access Bank Plc.

Access Bank Plc, commonly known as a Access Bank, is one of the deposit money bank in Nigeria. The bank is licensed by the Central Bank of Nigeria. The National banking regulators. The managing director is Herbert Wigwe while the present chairman is Mr Gbenga Oyebode. It was founded in 1989 and headquarters is located in Lagos Nigeria’s Commercial Capital. Access Bank has in excess of 300 bank branches in Nigeria ‘s major commercial centers.

Access Bank is a large financial services provide, with an asset base in excess of U.S dollars 12.6 billion (NGN: 2.02 trillion), as of February 2012. the share holders equity in the bank is valued at approximately U.S dollars 2.33 billion (NGN: 373.5 billion) Starting in 2007, Access Bank began an international expansion drive. As of February 2012, it has subsidiaries in Burundi, Coted’voire, the democratic republic of Congo, Ghana, Rwanda, Sierraleone, the Gambia, Tanzannia, united kingdom and Zambia. The bank received its license from the central bank of Nigeria in 1989, and listed on the Nigeria stock exchange in 1998.

In 2002, Access Bank was taken over by a core of new management lead by Aigboje Aigimaukhedue and Herbert wigwe.

In 2005 Access Bank acquired marina bank and capital bank (the formal deposit money bank credit lyonnaise Nigeria) by merger.

In 2007, Access Bank established a subsidiary in Baijul, the Gambia. This bank now has a head office and four branches and the has pledged to open another four branches.

In 2008, Access Bank Plc acquired 88% of the shares of omni finance bank, which was established in 1996. It also acquired 90% of Banque priveedi congo, which South Africa investors had established in 1995 and re-organized in 2001. in September Access Bank opened a subsidiary in freetwon, Sierraleone and then in October, the bank opened subsidiaries in Lusaka, Zmabia and in London, United Kingdom. In 2009, Fin Bank (Burundi) joined the Access Bank network. In 2011, Access Bank in talk with the central bank of Nigeria to acquire intercontinental Bank Plc.

Further to the approval of the share holders of both the banks, court sanction of the federal high court of Nigeria and approval of the central bank of Nigeria and the securities and exchange commission, Access Bank Plc (Access and Intercontinental Bank Plc announce the completion of the re-capitalization of intercontinental Bank and the acquisition of 75% majority interest in intercontinental bank by Access Bank Plc.

Effective today, intercontinental bank (including all its assets, liabilities and undertakings) become a subsidiary of Access Bank Plc. January 2012, Access Bank announced the conclusion of its acquisition of the formal intercontinental Bank, creating an expanded Access Bank, one of the largest four deposit money ban k in Nigeria with over 5.7 million customers, 309 branches and over 1,600 Automated Teller Machine (ATM).

1.8 Research Methodology

This chapter explains the different method used in collection of data and information, the sampling process reach design study of “population validity of the instrument, reliability of the instrument as well as methodology for data analysis.

1.9 Definition of Key Terms

Motivation this can be described as the incentives, reasons or a predisposition to act in a certain manner inherent of it is also be refers to an incentive or reason for doing something.

While motivational on the other hand is the act of tending or intending to motivate someone.

Techniques:

This can be defined as way of doing something, especially one in which you have to learn special skills, it is also a method of achievement something or carrying something but especially knowledge.

Bank:

This can be refers to as an organization that provides various financial services such as keeping and leading of money. Chambers twentieth century Dictionary define as a bank as an institution for the keeping, tending and exchanging e.t.c of money. Kent defines a bank as an organization whose principal operations are concerned with the accumulation of the temporarily idle money of the general public for the purpose of advancing to others for expenditure. We different types of bank, we have the deposit money banks, central banks, exchange banks, agricultural banks, industrial banks, cooperative banks and sailings banks. But, I will focus my attention on the money deposit bank under which my case study falls on.

Performance:

This can be described as the act of performing something or a particular task very well on badly. It is how well or badly something is done. It can also be refers to as carrying into execution or action; execution; achievement; accomplishment; representation by action, as the performance of an undertaking of a duty.

1.10 Plan of the Study

For critical examination of the topic in consideration, this research work is into five (5) chapters.

The first chapter contains the introduction which discussed briefly the meaning of motivation and the set objectives of the organization, i.e Access Bank Plc, which is to motivate their sub-ordinate of staffs in working effectively and efficiently towards meeting the needs of their customers. It also discuss the aims and objective of the study, the importance and significant of the study and the definitions of the basic terms.

The chapter two which is the second chapter dwelt on the theoretical aspect and literature review.

The third chapter contains the research methodologies which include the source of data, method of data collection, analysis of data presentation and findings of the study.

The fourth chapter contains the motivation techniques and instruments used by Access Bank. Achievement of Access Bank Plc analysis of customers respondents in the questionnaire effect of motivational techniques in Access Bank Plc.

While the last chapter comprises of summary, recommendations, conclusion and references.

Chapter Five

Summary of Findings, Conclusion and Recommendation

5.1 Summary of Findings

This chapter discussed the major finding of this research study in relation to the objectives as show by the tables and figures contained in the study analysis based on the fact gathered from oral interview and the review of intertexture.
The data presented and the analyzed in the tables in chapter four shows that the employees of the company under study. Access bank plc was of different view concerning the question items in the questionnaire.

The data presented and analyzed in table two reveals that majority of the respondents consider both financial and non financial benefits as a motivational techniques. Interview reveal also that when employees are motivated with both financial and non financial benefits it increase their job performance.

Some of the major findings are as follows:

Table 7 reveal that a large percentage of the population of the opinion that people do not work only for money but for recognition, promotion and job enrichment and from the table it also reveal that a large percentage of the people work for all of the above mention. And if employees of Access Bank Plc are recognized goods ward and also promoted as at when due there will increase their job performance.

In relation to the above finding, table 4.8 presented that what would make employees of Access Bank Plc to put in kore effort to their job expectation of reward as it has the largest percentage of the total population of respondents while expectation of punishment shows will which is to say that employees of Access Bank Plc need not to be punished in other for them to increase their job performance.

Table 4.9 where a question was ask, if people need to be coerced, threaten or force before they can perform their task. As shown in the table a large number of the respondents disagree that people don’t need to be coerced, threaten or even forced before they can carry out their duties or task.

While table 4.10 agree that people out of their free will perform job task with the largest number of the total respondent.

Table 4.11 lays emphasis on the type of training organized by the organization for its employees with the opinion on the job training, off-the-job-training, non and others. And the opinion of on-the job training ahs the largest number of respondent 44 with a percentage of 88% that is to say that Access Bank Plc organized on-the-job training for it employees.

While table 4.12 shows that the training has had significant on their performance, because the number of respondent that agree that the training has had significant on their performance are more than those that disagree.

In addition to that table 4.13 shows that the workers are given the opportunity to apply their training after the training with a large number of respondents of 94% as to 6% that said no, and if they are given opportunity to apply their after the training, that will not motivate them toward higher job performance.

Table 4.17 also show that Access Bank Plc organized training for it worker annually because from the table we observed that, annually has the largest number of respondents which is 29 and a percentage of 58% of the total number of respondents.

Table 4.19 also shows that employees of Access Bank Plc are motivated in term of commensurate salaries and allowance paid to them.

Table 4.20 of the tested hypothesis shows that the employees of Access Bank Plc are promoted as at when due which motivate them toward higher job performance.

Table 4.21 also shows that employees of Access Bank Plc are involved in the decision making of the organization.

5.2 Conclusions

The following conclusions were made from the findings of this empirical study.

Employees of Access Banks Plc are not only motivated towards higher performance with only financial benefits but also with non financial benefits such as medical care, lunch subsidy, transport allowance, housing benefit etc.
They will also put in their best towards higher performance if they are rewarded of their effort and not when they are punished.
Also employees of Access Bank Plc doesn’t need to be coerced, threaten or forced to before they can perform their.
Access Bank Plc should keep the on-the-job training for its employees in other to increase their job performance.

5.3 Recommendations

Based on my findings and conclusions, the following recommendation is put to forward for the consideration of the management of the organization

Adequately improved non financial benefits to staff. This includes,
1. Promoting staff on merit to enhance and enrich their jobs.
2. Giving supervisory and management staff a measure of free and back by authority to operate.
3. Recognizing excellence by verbal and written commendations.
Staff attitude to work can be further improved when management action, policies aid decisions are see to Befair, consistent and progressive. This staff preference, will increase their productivity.

Thus, parameters must be clearly spelt out to improved ambiguities and partially and in constituency. This will assure staff all the time and encourage loyalty, faith and commitment to management, the organizations and its objectives.

Staff will perform better where they will allow to say how the job should be done. This should be encouraged. However, no room for laziness
Management should try as much as possible to increase satisfaction of the employees who are not satisfied with salaries they are given as their inputs in the organization. The effect of this dissatisfaction can hinder the job performance of the organization
Organization should give their employee’s the opportunity to apply their training after the training, in other to improve their performance

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