ABSTRACT
This study examines the Influence of Motivation on
Productivity among Employees of Fin bank Nigeria Plc., Lagos. The descriptive survey research design
was adopted to conduct the study. The study was et to achieve the following
objectives: to ascertain whether motivation could influence the productivity of
workers in the banking industry; whether employees at the marketing department
of Finbank are well motivated; if bank workers attach much importance to their
being motivated or not; whether management understands the importance of
motivation in the growth of bank workers and the bank industry and to make
necessary recommendations that would assist bank management in taking decisions
relating to effective motivation of bank workers in the banking industry in
general and marketing department in particular. Two hypotheses were postulated
following some research questions. Purpose sampling method was used to select
the respondents mentioned earlier for the study to select one hundred and
respondents from the marketing department of the bank. This was to give every
member of population of the study an equal opportunity to have been selected
without bias. At the end of the analyses of the data collected from the
respondents using a self-constructed questionnaire to collect/elicit responses
from the randomly selected subjects. Chi-square statistic was used to analyse
the data. The results showed that: motivation could significantly lead to
decrease in the productivity of workers at the marketing department of Finbank
Plc, Lagos; and
there is a significant difference in the productivity of
bank workers who were motivated and those whose were not motivated at marketing
department at the banking sector. This showed that those who were motivated
performed better than those who were not. The implication of these results
indicated that motivation influences bank workers’
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgements iv
Abstract v
Table of Contents vi
CHAPTER ONE: INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of the Problem 4
1.3 Purpose of the Study 5
1.4 Research Questions 5
1.5 Research Hypotheses 6
1.6 Significance of the Study 6
1.7 Scope of the Study 6
1.8 Limitations of the Study 7
1.9 Definition of Concepts 7
CHAPTER TWO: LITERATURE REVIEW 9
2.0 Introduction 9
2.1
Concept of Motivation 10
2.2
Types of Motivation 16
2.3
Theories of Motivation 19
2.4
Theories X and Y 27
2.5
The Process of Motivation 29
2.6
Problems Associated with the Absence
of Motivation 32
2.7
Solution to Motivation
Problem 32
2.8
The Meaning of Workers’
Productivity 34
2.9
Major Factors that Influence
Workers Productivity 35
2.10 Compensation
and Worker Productivity 37
2.11 The
Importance of Financial Compensation 39
2.12 The
Need for Effective Compensation and Work Performance 43
2.13 Elements
of a Compensation Package 44
2.14 Summary
of the Review 48
CHAPTER
THREE: METHODOLOGY 49
3.0 Introduction 49
3.1 Research Design 49
3.2 Population/Sample Size 50
3.3 Sampling Techniques 50
3.4 Research Instrument 51
3.5 Validity of Research Instrument 51
3.6 Reliability of Research Instrument 51
3.7 Sources of data 52
3.8 Procedure For Data Collection 53
3.9 Procedure For Data Analysis 53
CHAPTER
FOUR: DATA ANALYSIS AND
INTERPRETATION 54
CHAPTER
FIVE: SUMMARY, RECOMMENDATIONS AND
CONCLUSIONS 72
5.1 Introduction 72
5.2 Summary of the Findings 72
5.3 Recommendations 74
5.4 Conclusions 75
References 76
Appendix 80
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Motivation is the willingness to exert
high levels of effort toward organisational goals, conditioned by the ability to
satisfy some individual needs. As a matter of fact, motivation is a way of
making people or someone to put in his or their best in working for you, by
appreciating their contributions materially or morally. Obisi (2006) affirms
that motivation is the willingness to work. He opines that it is the act of
stimulating someone or oneself to get a desired course of actions, to push the
botton, to get a desired reaction. No matter how qualified and skilled an
employee is, without adequate motivation, he or she would be like an engine
without oil which will eventually break down (Obisi, 2003).
In every human
society, normal individual persons and groups engage themselves in different
work activities in order to make ends meet. It is common knowledge that the
more people attain their desired goals and objectives by performing a one job
or the other, the more their interest would be aroused, and the more input they
will make to promote their individual standards and most importantly, to the
growth and sustenance of the organisations where they work. Thus, in order to
win the interest and support of workers, good organisational managers or
leaders usually employ one kind of motivational approach or another in other to
spur their workers towards high productivity in the banking organisation.
For motivation
tools to succeed, it must be dynamic. Motivational techniques are not flexible,
are dangerous and counterproductive. Organisations must and should not forget a
satisfied need is no longer a motivator of behaviour. Environmental and
organisational and even individual changes should not be forgotten while
organising and implementing motivational tools (Ayo, 2003).
Motivation has so far been identified
as a very important tool for organisational high productivity and the major
agent for the achievement of peace and harmony in both public and private
sectors of the nations economy. In the banking sector, for example banks
workers need to be motivated in order to work well for high productivity in the
banking sector. People naturally seek jobs that attract high employee
satisfaction and restrain themselves from jobs with little or no motivational
incentives. In fact, the strength of motivation is enormous in the lives of
employee in any establishment be it corporate organisation like the banking
Industries. However, it is regrettable to note, that most companies owned by
the government or private capitalists do not seem to pay much attention to the
welfare of their employees irrespective of their awareness of the challenging roles
of motivation in the lives of their workers, and that of the organisation. The
absence of motivation in any organisation easily brings conflict between the
management and the workers who will certainly see the management as exploiters,
greedy and being inhuman to fellow man (Onuoha, 2005).
More often than not, the persistent
quest for making abnormal profit do divert the attention of organisational
managers from devicing better means of appreciating their workforce. At the
banking sector like Finbank Nigeria Plc for example, most entities appear to be
more particular about making much profits by compelling their staff or employee
to meet very high marketing targets on monthly basis without commensurate
motivation, in terms of work incentives and fringe benefits. No wonder, in some
institutions such as the schools, teachers and lecturers embark upon constant
strikes or industries actions to redress brazen negligence and lack of
motivation by their employees (Osuoha, 2004).
Some end up loosing their jobs if, they
are unfortunate not to meet up with the expected imposed outrageous targets.
Even when most employers seem to be better remunerated, they hardly have time
for themselves. Hence, some especially, the socialites, find it boring being
caged or exposed to the field in the name of marketing for very long hours
daily. This however, seems to have a direct influence on the work performance
of individual workers especially the bank workers.
The need for making bank workers feel
belonged in the banking sector like the Finbank, in terms of good salaries and
better welfare packages is crucial because, bank workers are the strength and
support for the existence of every bank organisation even though the management
directs and monitors the activities of the employees and affairs of the
business. Many organisations do not seem to have realised that it is cheaper
and safer to motivate workers than treat them with contempt and disdain. The
more satisfied a worker is, the more devoted he or she would be to the organisation
and may not bother looking elsewhere for better jobs. Such consistency
certainly, would promote the productivity of the workers and boost the revenue
and profit of the bank or establishment (Aikomu, 2003).
People are more likely to jump from one
job to another if they are not well taken care of in terms of better salaries
and wages in addition to good welfare packages. Motivating workers would help
bank employers and other industrial outfits compete favourably with their other
competitors in the business. Perhaps, the banking sector management ought to be
properly guided on the relevance of attaching much importance to the well being
of their employees. This would help in not only increasing the work performance
of individual workers and organisational productivity, but also in achieving
good relationship between the management and workers. This would inevitably
usher in peace and harmony in the banking structure (Nlem, 2002).
1.2 Statement of the Problem
Neglect for the
motivation of bank workers by not providing adequate salaries and wages as well
as good welfare packages seems to have become the order of the day in the
banking sector and probably in other organisations. Bank managers often
complain of not having time for their personal needs and responsibilities due
to the long hours of service that they put in their offices. The situation
equally appears to have been extended by compelling every employee whether at
the operation, customers service section, and particularly, the marketing
department to attract some specified amount of profit to their finance without
commensurate motivation in terms of work benefits and incentives to workers.
This however, kills the morale of
workers and reduces their performance, efficiency and productivity. This study
is set out to discover whether motivation has anything to do with bank worke’rs
productivity or not, particularly in the bank with special interest in Finbank
Nigeria Plc, Lagos
State. It will also find
out why some managements have negative attitudes towards motivation of workers.
1.3 Purpose of the Study
This study is set
to ascertain:
1.
Whether motivation could influence the productivity of bank
workers at the banking industry or not.
2.
Whether employees at the marketing department of Finbank
Nigeria Plc were well motivated or not,
3.
If bank workers attach much importance to their being
motivated or not,
4.
whether there was any difference in the productivity of bank
workers who are motivated and those who are not,
5.
Whether management understand the importance of motivation
in the growth of workers and organizations, and to
6.
Make necessary recommendation that would assist management
in taking decisions relating to effective motivation of bank workers.
1.4 Research Questions
The following
research questions guided the study:
1.
Can motivation lead to increment in productivity of bank
workers?
2.
Are employees of Finbank Nigeria Plc well motivated?
3.
Do bank workers attach much importance to their being
motivated by the management or not?
4.
Will there be any difference in the productivity of bank
workers who are motivated and those who are not?
5.
Does the management understand the importance of motivation
in the growth and development of bank workers and banking organisations?
1.5 Research Hypotheses
The following
hypotheses were postulated in order to help in establishing the relevance of
the study.
1. H0: Motivation cannot significantly lead to increment in the
productivity of workers at Finbank Nigeria Plc.
2. H0: There will be no significant difference in the productivity of
bank workers who are motivated and those who are not.
1.6 Significance of the Study
The study would be
of much benefit to the entire management of the Finbank Nigeria Plc and other
banking industries in Nigeria
with regard to developing positive attitude towards the motivation of bank
workers. Also, the employees themselves would benefit from the awareness which
this study would have created among organisational manager because, their
welfare would been taken care of. The organisational output would also,
increase since workers are expected to put in their best, after being motivated
thus, promoting the profit margin of the organisations. Furthermore, the whole
society would enjoy relative peace as workers and employers conflict would have
been curtailed as a result of the good treatment the former would have received
from the latter.
1.7 Scope of the Study
The study
particularly covered members of staff of Finbank Nigeria Plc in Lagos State.
1.8 Limitations of the Study
The study was
limited by the chances of getting the people within the marketing department
easily for the collection of data since they are mostly busy with field
operations. Time and protocol of obtaining clearance from the branch managers
before, having access to interact with their workers especially on official
hours also will limit the study.
1.9 Definition of Concepts
The following terms are defined in the
way they were used in this study.
Motivation:
This
is the process of encouraging workers to rendering their utmost or efficient
performance to the organisations where they are employed in order to achieve
maximum productivity and profit.
Workers’
Productivity: This has to do with the total output or result of work
obtainable from the input of employees in any organisation. In other words, it
is the total production level of all the workers in a company, industries,
schools and other parastatals within the private and public sectors.
Motives:
The inner state that energizes, activates, moves and directs or channels
behaviour towards goals. The main spring of action.
Incentive: Bonuses given in exchange for a job properly
done
Impact:
This means the effect it has on factors.
Goals:
Refers to as “hoped for” reward towards which motivates are directed
Productivity:
The total volume of goals and services produced per worked within a specific
period of time in a given production unit.
Employee
Behaviour: Refers to manners, moral conduct and treatment shown to or
towards management
Motivational
Technique: These are means or incentives that managers/ organisations use
in motivating or stimulating their employees.
Job
fulfillment:
This is the final result an organization intend to see from the employees after
being motivated.
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