EFFECTS OF MOTIVATION ON EMPLOYEE’S PRODUCTIVITY A STUDY OF DEPOSIT MONEY BANKS

EFFECTS OF MOTIVATION ON EMPLOYEE’S PRODUCTIVITY A STUDY OF DEPOSIT MONEY BANKS

CHAPTER ONE

INTRODUCTION

1.1  Background of the Study

There is probably no concept more important than motivation, in the study of employee’s behavior in many organizations. A manager may consider motivation as an inducement (financial or otherwise) given to the employees to ginger them to work more. By this measure, organization goals and objectives are achieved. On the other hand, employees usually associate motivation with some monetary values (Rothberg, 2015).

Motivation is a pervasive function that cuts across all aspect of employee’s development. It is often discussed by people in any organization. Management cannot operate in isolation of their employees because they are human beings and not machines or tools which are utilize recklessly or in a rough manner (Kallimullah, 2010).

In today’s economy, employers have gone beyond being just employers because of their interest in the management of employee’s productivity. Most business personnel have realize more than ever before that their organizational set goals and objectivities cannot be achieved if their employee do not perform as much as expected (Manmohan, 2013). This is the reason for much concentration of effort on the concept of motivation which is concerned with encouraging workers or employees to attain to the best of their ability. Human resources, both in private or public sector are the most assets essential in any given organization, hence must be handled with care. Motivation of the employee is the areas management should concern in other to ensure the realization of the planned goals and objective of their organization (Dwan, 2003).

People go to work in organization not for the sake of work itself but with the aim of achieving their individual objective. It then follows that the key of motivation is the satisfaction of needs. A worker will be motivated if he feels his organization is helping him to satisfy needs to a reasonable extent (Yazdani, 2011). In view of the fact that needs are sophisticated in nature, there has been a growing importance to understand these needs by some behavioral scientists. Thus, we have a lot of motivational theories like those propounded by Abraham Maslow, Vroom, Fredrick Herzberg to mention but a few. (Yazdani, 2011)

All organizations are concerned with what should be done to achieve sustained high levels of performance through people. Consequently, the subject of adequate incentives for workers, as evidenced in so many attempts made by management practitioners, is to look for the best way to manage especially the human resources so as to accomplish the organizational mission with the optimal costs. In view of this, the study will examine the extent that financial and non-financial motivation such as incentives, job satisfaction, job environment, compensation and emoluments have on employee performance (Yazdani, 2011).

Rewarding employees for their work is a motivational rule in business. Employers adapt different methods to achieve this (George 2016).As noted by (George 2016) annual bonuses are a common way many employers reward their employees for their work, though providing smaller, more consistent rewards is a great way to boost motivation.

An excellent argument can be made that taking compensation out of managers’ hands weakens their ability to retain talent (George 2016). By telling employees up-front that managers have control over compensation, you force managers to discuss pay on a one-on-one basis with their workers. After managers overcome the "my hands are tied" compensation hurdle, other individual communication on motivational issues is much easier (George 2016). He also stated that even when new salary offers are significantly higher, you'll often find that bad management practices caused employees to look for other jobs, and that only after looking did they realize they could get more money and better treatment if they leave. As noted by (Adecco 2017) that money usually isn’t the main source of motivation for employees to consistently perform well, but underpaying members of the team is a sure way to lose them, which might leads  to increase in staff turnover and decreases team morale.

The job environment as one of the non-financial motivation tools also plays a significant role in motivation. The value of an end goal is an environmental variable on motivation. The removal of undesirable consequence is a great motivator. People will be motivated to behave in a way that helps them to avoid unpleasant repercussions, and to behave in a manner that will lead them to achieve a goal that they do want. There is no place for negativity if success is to be achieved. A positive work environment is the result of positive leaders.

An effective training and development plan is essential for leading companies in today’s business environment (Lawal, 2004). Organizations that have well-established programs to help employees develop their skills and that work to maintain and nurture a diverse and highly-talented workforce have a proven track record of business success and profitability over an extended period of time (Lawal, 2004). Without such a program in place, employees may fall behind in job performance compared with those in their industry who receive training. In addition, they are more likely to become bored, restless and disengaged. This leads to higher turnover and an inability for the company to promote from within both of which cost more in the long-term than investing in training for the talented staff you already have (Adecco 2017).

According to Maslow Psychological theory suggests that there is a hierarchy of basic needs that people require before they can be motivated to reach their full potential. Security falls right after physiological needs like food and water. George Dickson talking about a sense of personal security on employee’s value, like security that next week, they'll still have a place to work. Once employees feel secure, they're more likely to be motivated to reach, and further stretch their potential.

Aluko (2000) noted that the major motivational factor is money, although we have seen that in Nigeria, money alone do not guarantee productivity. Other non-monetary incentives such as, work environment, training and development, job satisfaction, compensation and emolument, job security and recognition go a long way to boost the morale of workers. If workers needs are satisfied, it might lead to an increase in productivity. However, every manager regardless of the size of the organization can incorporate motivation into the work environment to stimulate and influence employee. It is from the foregoing that the study seeks to examine motivation and productivity of bank staff with particular reference to deposit money bank.

1.2       Statement of the Problem

The study seeks to examine motivation and productivity of bank staff with reference to deposit money bank metropolis. In the view of Halepota (2015), motivation is crucial for organizations to function; without motivation employees will not put up their best and the company’s performance would be less efficient. Management of organizations has always been faced with the problem of how to motivate workers to greater performance with a view to increasing productivity. Even till now, the problem still persists in organizations (Onyishi 2010).

Every organization and business want to be successful and have desire to achieve long- lasting progress. Only few organizations believe that the employees of the organization are its main assets that can lead the organization to long-lasting success. Modern markets are highly competitive and organizations regardless of their sizes are facing employee retention challenges. To overcome these restraints, a strong and positive relationship should be created and maintained between employees and their organizations. Unless and until, the employees of an organization are satisfied, are motivated for the tasks fulfillment and goals achievement, no organization can progress or achieve success (Adi, 2000, Anka, 1988, Rothberg, 2015).

In essence, human resources or employees of the organization are the most central part so the need to influence them and persuade them towards tasks fulfillment becomes necessary, if not inevitable. Every organization either public or private is goal oriented and all efforts are geared towards the successful attainment of those goals and objectives (Rothberg, 2015). Therefore, for any organization to record any degree of meaningful success in the pursuit of its goals and aspirations, it must have the ability to create values (motivation) enough to compensate for the burden imposed upon employees. Such value or motivators can come in the form of good trainings, conducive job environment, facilities or incentives such as compensation and emoluments, fringe benefits, promotions, status symbols etc., to satisfy the needs of the employees for enhanced performance (Adi, 2000). Rothberg (2015) argued and proved that unless individual’s employees are motivated to make efficient use of potentials found in them during employment process, they may not achieve the level of performance that is desired of them.

For an employee to be motivated, he or she perceives that their want are being met. Thus, the satisfaction of the employee represents an indispensable dimension of the motivational process. A satisfied individual would certainly contribute positively to the realization of organizational goals and objectives, while a dissatisfied employee may not only contribute but also can even act in such a way that the realization of such goals and objectives could be completely destroyed. This underlines the importance of employees‟ satisfaction to the organization (Anka, 1988).

1.3 Research Questions

The research seeks to answer the following:

1. To  what extent do job satisfaction affect employees productivity in the Bank?
2. To what extent do job environment affect employees productivity in the Bank?
3. To  what extent do compensation and emoluments affect employee productivity in the Bank?

1.4 Objective of the study

The general objective of the study is to examine motivation and productivity of Deposit Money Bank. This study intends to:

1. Examine the extent by which Job Satisfaction affect employee productivity in the Banks.
2. Evaluate the extent by which Job Environment affect employee productivity in the Banks
3. Appraise the extent by which Compensation and Emoluments affect employee productivity in the Banks.

TOPIC: EFFECTS OF MOTIVATION ON EMPLOYEE’S PRODUCTIVITY A STUDY OF DEPOSIT MONEY BANKS

Format: MS Word

Chapters: 1 - 5
Delivery: Email

Number of Pages: 75

Price: 3000 NGN

In Stock

Buy the Complete Material Now