Motivation Of Bank Workers For Higher Productivity In Banking Sector (A Case Study Of Union Bank Of Nigeria Plc Okpara Avenue Enugu)

Project and Seminar Topics with material for Banking and Finance

Motivation Of Bank Workers For Higher Productivity In Banking Sector (A Case Study Of Union Bank Of Nigeria Plc Okpara Avenue Enugu)


Abstract


The downturn is the fortunes of most business in Nigeria in recent time has been attributed to several factor including global recession inflation fluctuation in the value of the naira etc. Poor motivation may portray clear display of lack of interest in the work through non- challant attitude to things that would have helped the banks torture.

This study is aimed at finding our how the banking industry overcome its motivation of manpower problem in order to maintain its high productivity and performance level.

The population of the study was one hundred and twenty (120) staff in the union bank of Nigeria PLC Okpara Avenue Enugu. In conducting the research 55 questionnaires were distributed and all were returned.

The research question used in this study were four (4) and three (3) hypothesis stated. Motivation of bank worker will ensure higher productivity in banking sector lack of proper motivation will brings inefficiency and low productivity and training course use as an incentive for high performance of staff will lead to higher productivity in banks. The research method used were questionnaires approach and interview library sources, simple percentage and bar chart were used in presenting the data and analyzing the data, chi-square (x2) test was used.

The major finding of this research showed that union Bank, Okpara Avenue Enugu has an effective and efficient motivation system which resulted in high performance and high productivity rates for the bank.

My recommendation is banks shall be motivating their workers due to sensitive nature of banks are the work hazard involve in financial institution workers salaries shall never be tampered with at the present state unless of the authority carry out an upward review of this.

Suggestion for further study “the impact of training are development in the computer system as an instrument for motivation in the banking industry


Chapter One


Introduction

1.1 Background of the Study

The researcher is interested in the union Bank which was formerly know as Barclay’s bank was a product of the post independence indignation process in Nigeria as part of the abortive banking boom and crash the late 1940s and early so, 1959 saw the biggest country was of coursed triggered off by the establishment of CBN and the era of the free bank period.

This period saw the establishment of the Barclay’s bank domination with others. Although many later fails such as the industrial and commercial bank the Nigeria merchandise bank etc.

Today the Union Bank Plc has emerged as the leader in the banking sector in Nigeria with both the largess number of shareholder and the greater asset base. Even in the face of the unfavourabe business atmosphere and crunching policy the bank has defined all to lead the column of both the new generation bank and its contemporaries.

The question is why all the success stories? It correct that there must have been the product alternative motivation factor, why is the bank not particularly affected like others with frequent staff management disagreement motivation as the root?


1.2 Statement of Problem

The study is concerned with the motivation of bank workers for higher productivity in the banking sector. As effective motivation of workers is very important for the function of any business most especially in the Nigeria banking sector. The caliber of those that run most of the banking sector have not developed that ability to attract and maintain competent mangers and customers.

Event in the recent year has been a near collapse of this sector leaving many bank in distressed contribution and liquidation while some have managed to survive.

The fact therefore remains flaring that the banking sector and other matter making organization in federal no matter how sophistically well designed its building is still built on efficiency of the available human resources and actual input which has its root at internal during forces developed by that makes the human recourses in the organization and the bank in particular. It therefore take the with and dedication of this groups for this tools to actually function effectively.

Considering the above therefore the need for a diligent and lowest work force for higher productivity cannot be over emphasized. My believe than remain that this is a resultant effect of workers motivation. Poor motivation may portray learn display of lack of interest in the work through non-challant attitude to things that would have helped the banks fortune.


1.3 Objective of the Study

The basic objective of any organization is higher productivity maximization of profit. This cannot however be achieved without enough incentive on the actual tools applied towards this inform of motivation itself.

This research work is designed to achieve the following objective:

  1. To identify the extent motivation go as an instrument in the encouraging work productivity in the banking sector with special interest on Union Bank Plc Okpara Avenue Enugu.
  2. To find out ways in which lack of proper motivation brings inefficiency and low productivity.
  3. To find out whether fringe benefit go as an instrument for higher productivity in the banking sector
  4. To identify how the bank offer training facility allowance to their staff
  5. To find out ways the customers staff management relationship have any effect on workers job performance in the bank.

1.4 Research Question

In this research work attempt has been made to provide answer to the under listed pressing question:

  1. What are the actual effect of bad or proper motivation go as an instrument in the encouraging workers productivity in the banking sector.
  2. Do lack of proper motivation brings inefficiency and low productivity?
  3. Does the fringe benefit serve as an instrument for higher productivity in the banks
  4. Can the training course use as an inventive for high performance of staff leads to higher productivity in banks?

1.5 Research Hypothesis

In this research work the hypothesis to prove are as followings:

Hypothesis I
  • Ho: Motivation of bank worker will not ensure high productivity in banking sector.
  • Hi: Motivation of bank worker will ensure high productivity in banking sector.
Hypothesis 2
  • Ho: Lack of proper motivation will not brings inefficiency and low productivity
  • Hi: Lack of proper motivation will brings inefficiency and low Productivity
Hypothesis 3
  • Ho: Training course use as an incentive for high performance of staff will lead to higher performance of staff will lead to higher productivity in banks
  • Hi: Training course use as an incentive for high performance of staff will not lead to higher performance of staff will lead to higher productivity in banks

1.6 Significance of the Study

This study is aimed at coming out with a recommendation on best workers productivity in an organization and Union Bank Plc, Okpara Avenue and how it can be improved after careful examination of the nature of incentive the best appeals to employee of labour in this era.

It is helped that this study whom completed will assist banks in their operations and enable them to employ adequate incentive scheme and other motivation variable that would optimize the productivity and performance of their operations.

The study completed will identify the motivation factor and incentive variables if any that are currently militating again in area of its job performance and productivity that bank find useful for future planning this work will be of important assistance to the Union Bank Plc or other banks as it will enable them to restructure the aspiration and needs of their workers besides it will be of great important of other organizations or other financial institution since it will expose them to some of the incentives that could motivate workers for higher productivity and other employers of labour will also find this work very useful would enable performance of worker, it appropriately applied.

This research out to serve as a working tool for these whose interest undulated lie in ensuring on increase productivity and equally help the study who wish to carryout a similar study in his establishment.


1.7 Definition of Term

1. Banking:

This banking ordinance enacted in 1952 defined banking as the business of receiving form the public on current account money which is to be repayable on demand by cheque and of making advances to customer

2. Bank Workers:

Oxford advanced learner’s dictionary defined bank workers as who own a bank or has an important job at a bank

3. Motivation:

Nwankwo G.O defined motivation as what direct behavior towards satisfaction of some need.

4. Incentive:

Oxford advanced learners dictionary defined incentives as something that encourage workers to put extra effort in his/her endeavor.

5. Performance:

Is notable action achievement


1.8 Organization of the Study

This research work is organized in five chapters, for easy understanding, as follows

  • Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study.
  • Chapter two highlight the theoretical framework on which the study its based, thus the review of related literature.
  • Chapter three deals on the research design and methodology adopted in the study.
  • Chapter four concentrate on the data collection and analysis and presentation of finding.
  • Chapter five gives summary, conclusion, and recommendations made of the study.

Chapter Five


Summary Conclusion and Recommendation

5.1 Introduction

It is important to ascertain that the objective of this study was to investigate the impact of motivational factors on employee’s performance.

In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of employee’s motivation.


5.2 Summary

So far, this study explore on the impact of motivation on employee’s performance. The study employed the primary data collection method, and the two hypotheses were tested with the use of chi-square statistics. Based on the research objectives, the study gathered that there is a positive relationship between the quality of supervision and motivation to work. Most of the respondents used in this study-expressed satisfaction with their boss leadership style. This shows that there is a cordial relationship between leaders and most of their subordinates in the organization.


5.3 Conclusion

This research work is carried out with the aim of looking at the motivational factors on employees performance. From the analysis of data and findings of such analysis, it was discovered that such motivational factors like the quality of supervision, the nature of fringe benefits enjoyed by the workers. Worker’s perception of the reward he get in the organization in relation to what other workers of similar status get and also his perception of what obtained in his organization in relation to others can motivate him to greater productivity. Thus, it is important for organization to encourage and improve these motivational factors in the company in order to get optimum productivity from the workers. The implication of this study cannot be overemphasized as this study will educate the management of the organization (especially the organization under study) on how to motivate their workers to performance. The findings of this study will generate people’s interest in researching into other areas of motivation in the organization, which will enrich the literature on motivation as a phenomenon. In a nutshell, the study will enrich people’s knowledge in this area of organizational behavior and management of people in the organization.


5.4 Recommendations

Haven completed the study, the following recommendations were made by the researcher The management of diamond bank plc should provide adequate fringe benefits to the workers and such benefit should be geared towards meeting the needs of the workers. The provision of adequate fringe benefits to the workers will propel them to put in their best in the attainment of corporate objectives. The rewards workers enjoy in diamond bank plc should be favorably with the reward which workers in other banks enjoy. This is important because workers perception of what obtained in other organizations can affect their level of motivation. The management of diamond bank plc should also encourage the training of workers. The present situation whereby majority of the workers are not happy with the present training policy of the organization should be checked. Supervisor and other workers having people working under them should be sent on leadership training in order to improve their human relations skill.


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