ABSTRACT
Employee motivation has become one of the major concerns of the present day banks. This is to increase the employee performance in the bank. It was based on this background that the researcher investigated the effect of motivation on staff performance in the banking industry. In the course of the study, the researcher adopted the Yaro Yamen method to arrive at the sample size of 110 as the population of the study was randomly selected from a list of the relevant staff which were collected using instrument of questionnaire and interview schedule. To test the hypothesis stated in chapter one the data were analyzed using simple description, statistics such means, percentage and table. Ordinary Least Square (O.L.S) regression method was also analyzed. The findings indicate that employee motivation enhances not only employee performance but also corporate productivity. Thus the researcher recommended that policies that encourages employee motivation should be adopted in the banking industry.
TABLE OF CONTENTS
Title Page - - - - - - - - - i
Declaration - - - - - - - - - ii
Certification - - - - - - - - - iii
Dedication - - - - - - - - - iv
Acknowledgement - - - - - - - - v
Table of Contents - - - - - - - - vi
List of Tables - - - - - - - - ix
Abstract - - - - - - - - x
CHAPTER 1
INTRODUCTION
1.1 Background of the Study - - - - - 1
1.2 Statement of the Problem - - - - - 5
1.3 Research questions - - - - - - - 6
1.4 Objectives of the Study - - - - - - 7
1.5 Research Hypothesis - - - - - - 7
1.6 Significance of the Study - - - - - 8
1.7 Scope and Limitation of the Study - - - - 8
CHAPTER 2
LITERATURE REVIEW
2.1 Concept of Motivation - - - - - - 10
2.2 Theoretical Review of Motivation - - - - 10
2.2.1 Reinforcement Theory - - - - - - 11
2.2.2 Intrinsic and Extrinsic Perceptions of Motivation - 12
2.2.3 Process (or Cognitive) Theory of Motivation - - - 14
2.2.4 Expectancy Theory of Motivation - - - - 14
2.2.5 Goal-setting Theory of Motivation - -- - - - 17
2.2.6 Achievement Theory - - - - - - 19
2.2.7 Reactance Theory of Motivation - - - - 20
2.2.8 The Equity Theory of Motivation - - - - 21
2.3 The Process of Motivation - - - - - 23
2.4 Motivation Productivity Linkage - - - - 24
2.5 The Content of Performance and Outcome - - 26
2.6 Bank Service Marketing - - - - - 27
2.7 Classification of Service - - - - - 28
2.8 Characteristics of Bank Service/Service Marketing - 28
2.9 Motivation and Workers Performance - - - 31
CHAPTER 3
RESEARCH METHODOLOGY
3.1 Research Design - - - - - - - 36
3.2 Area of the Study - - - - - - - 36
3.3 Source of Data - - - - - - - 36
3.4 Population of Study - - - - - - 37
3.5 Sample Size and Sampling Plan - - - - 37
3.6 Method of Data Analysis - - - - - 38
3.7 Model Specification for the Multiple regression - - 38
CHAPTER 4
DATA ANALYSIS, PRESENTATION AND INTERPRETATION
4.1 Questionnaire Administration - - - - - 40
4.2 Data Collection and Presentation - - - - 40
CHAPTER 5
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary - - - - - - - - 53
5.2 Conclusion - - - - - - - - 53
5.3 Recommendations - - - - - - 54
References - - - - - - - - 56
Glossary
Questionnaire
LIST OF TABLES
Table 4.1: Sex of respondents - - - - 40
Table 4.2: Age of respondents - - - - 41
Table 4.3: Marital status of the respondents - - 41
Table 4.4: Educational qualification - - - 42
Table 4.5: Position of the respondents - - - - 42
Table 4.6: Years of experience of the respondents - - 43
Table 4.7: Qn. 7: Confidence of service with the bank - - 43
Table 4.8: Qn. 8: Ranking current salary of the bank - - 44
Table 4.9: Qn. 9: Whether the bank management is using the best motivational tools for her staff - - 44
Table 4.10: Q.10: If Yes, tick your option - - - - 45
Table 4.11: Security ranking of the job - - - 45
Table 4.12: Ranking the motivational packages by the
respondents - - - - - - 46
Table 4.13: The impact of the working environment to the employee performance - - - - 46
Table 4.14: Q. 14:The extent of contribution of the working
environment to employee performance - - 47
Table 4.15: Motivational and organizational productivity - 47
Table 4.16: Qs 16 &17: Market target and motivational impact on the employee’s performance - - - - 48
Table 4.17: Market target estimation in millions - - 48
Table 4.18: Qs 16&17: Market target and motivational impact on the employee’s performance - - - 49
Table 4.19: Q 20: Estimation of achieved market target in percentage 49
Table 4.20: Qs 21&22: The condition of service and market target achievement - - - - 50
Table 4.21: Motivational factors, workers performance and organizational productivity - - - 51
.
CHAPTER 1
INTRODUCTION
1.2 Background of the Study
The term motivation is a very essential factor to every managerial institution because of the impact it creates on productivity of the organization/firm. It be pertinent to present a theoretical overview of motivation in the Nigerian context with the view to understand the framework within which the employees are motivated for greater productivity. It is common to hear managers or administrators complain that the attitude to work and productivity of average workers is generally poor. On the other hand employees complain that the system does not recognize and reward hard work.
The question remains, what is wrong with the Nigerian system and how can it be improved to enhance employees’ motivation and productivity.
Inspite of the battle for market share among banks, the major economic crisis and the drastic banking reform initiative of Mallam Sanusi Lamid the ECOBANK Plc. has promoted 318 staff in recognition of their outstanding performance. A number of 136 other staff got a recognizable increment in their compensation package to further motivate them.
It has been discovered that the promotion and salary increment by bank are done to encourage employees, who have performed very well, deploying best practices and using performance evaluation method as is their tradition of the bank to recognize hard work . However human capital has emerged as the most critical asset, and the ability to attract motivate and retain capacity employees is essential in an organization’s motivation and quality improving (Frye, 2004).
After the banking sector crises of 2009, which was occasioned by huge non-performing loan sitting in the balance sheet of many money deposits banks in Nigeria, it was evidenced that five banks CEO’s were removed. As these dusts raised by the Central bank of Nigeria (C.B.N), reform gradually settles top management staff of bank are secretly unveiling subtle but effective marketing strategies meant to reposition their institution for a higher share of the market to strengthen the market position of the bank and assure the long term sustainability of the business.
However, these entire situation (economic crises, market share and banking reform) present an opportunity for the banking sector to intensify their marketing plan, strategy and study carefully their balance sheet, network and staff strength.
Meanwhile, seven months after their appointment as the new Executive Director of the rescued banks by the Central Bank of Nigeria concluded arrangement to lay-off hundreds of staff in Afri Bank, they were accused of arbitrary suspension and sacking of relationship/marketing officer.
It was gathered that the new management has shelved most staff benefits through loan policy, transfer allowances, long service award in the name of cutting cost yet went to buy exotic cars for themselves, draw their full allowance (oversees tour leave, furniture, housing and holiday).
Their staff having considered these policies as repugnant, have created an atmosphere of rift, fear and mutual suspicious amongst management and staff thereby dampening staff morale, which is inimical to the growth of the bank.
In management motivation is a vital area in the directing function. It aligns workers and organizational interests. The behaviour of the organizational members results in the achievement of worker need simultaneously with the attainment of organizational goal. The term motivation is strictly associated to human resource management as it amount to a chief impact to workers efficiency.
As it is known that planning is an analytical process involving various aspects, so as to produce quality products and to offer best services, various plan exercises such as determination of desired goals, assessment of the future in relation to the environmental changes, selection of activities, preparation of written plan document, etc. will have to be done, which will give rise to mobilization of human resources. The result of motivation is marvelous. This will be reflected in higher turnover, lower absenteeism, fewer breakdowns, lower migration and more than anything also, higher quality of work. It cannot restrict to physical tangible things like money, but also to intangible psychological factor, things like situation, inner drive, need and objective of people affect it.
Leadership style influences level of motivation. However, throughout a lifetime, changing ambitions and/or leadership style he works under or socializes with influences man’s motivation. Command-and-control leadership drains off ambition while worker responsibility increases ambition.
However, as the economics of various countries developed, more sophisticated machines were developed. Competition rose to the highest level, supply began to give rise to the redirection of efforts towards market research. Therefore the marketing department were created and marketing manager were given prominence in the scheme of things.
The process of marketing concept involves defining, anticipating customers’ wants and needs and organizing resources to create products and services that will satisfy the needs of the customer at a profit.
1.2 Statement of the Problem
In contemporary times, the banking sector has been characterized with staff competition. This had led to the perception of the banking sector as market oriented. However, the bank thus has developed strategies of motivating her employees to achieve certain market targets (uwaoma, 2003).The essence of motivation to the bank employees is to increase the worker’s morale and to enhance productivity. However the morale with which staff dos their work affects the organizational output/growth. The ultimate increase of workers performance is the desire of management personnel in the banking sector.
Well-motivated employees are more productive and creative, the inverse also holds true. The subject of motivation is not clearly understood more often than not poorly practiced. In order to understand motivation we must understand human nature itself. There lies the problem.
Human nature can be very simple yet very complex too. An understanding and appreciation of this prerequisite to effective employee motivation in the work place and therefore effective management and leadership.
It is typically observed that the banking sector is an employer of labour of different abilities (discipline) therefore the effect on staff performance may be biased to some extent.
When staff performs well they should be appreciated thus the bridge between mediocre at work and attainment to performance is broken.
According to Carlson, controlling employees to do a good job, at best set a minimum threshold of performance. Attainment above the threshold requires high morale and motivation.
1.3 Research questions
The following questions were designed to guide the study.
i. What are the socio-economic characteristics of the respondents?
ii. What are the motivational strategies adopted by the banks?
iii. What are the levels of motivation of the employee in the banking sector?
iv. What is the relationship between motivation and performance?
v. What are the performance problems and opportunities in the banking institution.
1.4 Objectives of the Study
The broad objective of the study is to examine the effects of motivation on performance among marketing staff in deposit money banks in Aba. This broad objective can be divided into the specific objectives:
i. examine the socio-economic characteristics of the respondents;
ii. identify the motivational strategy/package adopted by the organization;
iii. determine the level of turnover, target, profit, in the banking
iv. estimate the effect of motivation on sale, profit, goals.
v. identify performance problems and opportunities in the work place.
vi. make recommendations based on findings.
1.5 Research Hypothesis
Some null hypothesis were designed to guide the study. They are:
H01: There is no significance relationship between motivation and bank employee
H02: Years of experience, job security, and market target are significant factors in motivating bank employee.
1.6 Significance of the Study
The significance of the study is related to impacts of motivation n workers performance in the banking industry. There is need to evolve a more realistic and acceptable motivational pattern that will increase the productivity, hence leading to a substantial economic growth. Therefore, this study becomes very significant in that;
1. It is hoped that it would contribute to the promotion of the existing frontier or boundary between human relationships.
2. Enhance the role of managers in the directing of staff to performance.
3. The study will be of great valve to workers in their organizational behaviour.
4. It will offer a conceptual tool for analyzing motivation problem in organization.
1.7 Scope and Limitation of the Study
The scope of this study will be limited to two key human resource components i.e. performance and motivation in Nigerian banking industry.
The research work will be such restricted because of the limited availability of data and time.It will also cover some of the publications of the source magazine and Newswatch magazine.
The study also aims at using marketing staff in Aba city for the sampling of opinions.
The data collection design relies heavily on the report from the respondents for the information exposed.
Any confidential matter will not be included in this study to safeguard the respondent’s trade secrets.
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