Appraisal of motivation on productivity and job performance of employees in the banking industry (a case study of Eco bank Plc)

CHAPTER ONE

2.0      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).

2.1      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.

2.2      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).

2.3      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.

2.4      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?

2.5      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.

2.6      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.

2.7      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.

2.8      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.