INTRODUCTION

1.1       BACKGROUND OF THE STUDY

In recent times, managers and
management researchers have long believed that organizational goals are
unattainable without the enduring commitment of members of the organisation. It
has been said that the workforce remains the most critical productive asset of
any Organization. It is the human element that gives direction and dynamism to
the organisation.

In fact, any organisation can
only grow to the extent made possible by the Voluntary and creative application
of the skills and expertise of its workforce. It is for this reason that the
search ways and means of motivating the workforce for optimal organisational
performance has more or less remained a cardinal concern of management since
the birth of industrial civilization.

Today, as in the early days
of organizational history, managers often ask some fundamental questions: what
can we do to motivate our workforce? What is the purpose of motivation? No one
yet has discovered a single Technique or gimmick that answers this question.

As
many still ignore that fact that no organization can survive without its
workers, and the workers themselves cannot be productive if their needs are not
met.

Also, managers and management
researchers have long believed that Organizational goals are unattainable
without the enduring commitment of members of the organization.

Freeman (1998: 38-39) noted
that organizations, emphasized increase in productivity without necessarily
considering the needs of the workers. They are however, ignorant of the fact
that organization cannot survive without its workers and the workers themselves
cannot be productive if their needs may not be met.

Aluko, M.A. (2000: 32)
asserted that workers should not be made to work as machines and tools whose
presence in the organization is just to perform while emphasis is placed on
productivity alone without thinking of what will drive the employee to put on
his optimum best.

Stoner (1998:463) stated that
motivation is a human psychological characteristics, it includes the factors
that cause channel and sustain human behaviours, motivation deals with “what
make people think”.

Aluko
(2000:32) 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 price, job promotion, upgrading and advancement, 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.

From the foregoing, since the
study of motivation is essential for organisational survival and growth, it is
an attempt by this study to look at the effect of motivation as a tool for
increasing employee’s efficiency. A study of selected bank in Nigeria.

1.2       STATEMENT OF THE PROBLEM

Although much has been said
and written on this topic, and the fact that the subject has been given
increased in most organization especially in Guarantee Trust Bank and United
Bank for Africa, one still finds out that productivity in most financial
institution is low; it takes extra efforts for the staff to put on optimal
performance.

In
the light of the foregoing, the critical task of this research is to identify
effective motivational strategies that could propel and increase employee
efficiency in Guarantee Trust Bank and United Bank for Africa.

Also right from the beginning
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 most organisations. Therefore the
problems posed by this study are:

–            
Does money or monetary incentive induce workers to perform well on their
task?

–            
Some of the employee may not be satisfied with the present reward system
as been instituted by management hence, management may ignore the real
incentive that motivate employee.

–            
Money alone is not the only motivating force that induces employee to
put their optimum best, there are other forms of this reward: praises, job
advancement, higher responsibility and promotion. The question then is, to what
extent has it been incorporated into the banking industries?

–            
Labour turnover is a major problem in most of Nigeria Banks. Some banks
record as much as 20% to 30% within a year.

The question then is, is
labour turnover as a result of poor employee motivation?

1.3       OBJECTIVES OF THE STUDY

This study intends to:

(i)          
Examine the effect of motivation in increasing employee productivity

(ii)        
Find out may be money (pay) is the main motivating factor that can make
employee increase their level of performance.

(iii)      
Examine other inherent problem and constraints militating against
effective employee motivation in an organization.

(iv)      
Suggest personal administrative system, policy and procedure that can
assist organization to highly remunerate their workforce and reduction in the
labour turnover.

1.4       RESEARCH QUESTIONS

The research seeks to answer the following:

–            
Does motivation have any impact on employee’s performance?

–            
Does many play a determining role in the optimum performance of an
employee?

–            
Is it possible for employee to leave his/her present job if he/she is
offered a higher package?

–            
Are there any difference in what is offered now compare to other banks?

–            
What are
the causes of labour turnover in Nigeria banks?

–            
Are there any different in motivational packages of the present
generation banks compare to the old generation banks?

–            
Are labour turnover more prevailed in old generation banks to new
generation banks?

–            
How can the present existing remuneration packages of this bank be
improved?

1.5       RESEARCH HYPOTHESIS

The following research hypothesis shall be
tested.

Ho: there is a relationship between motivation
and productivity

Hi:     There is no relationship between motivation and productivity.

1.6   SIGNIFICANCE OF THE STUDY

–            
The study will be of immense importance to different categories of
people: namely individuals, students, organisations and the

management of
Guarantee Trust Bank and United Bank for

Africa .

–            
The research work when accomplished will create ways by which the
management of Guarantee Trust Bank will reappraise there present motivation
package with the aims of improving employee’s performance and reduction in
labour.

–            
It is also hoped to increase the level of knowledge on the existing
motivation schemes in the Nigeria Banking Sector.

–            
It will
assist student as a reference material in their libraries.

–            
It will also pose a challenge to other researchers who may be interested
to research more in their area.

1.7       SCOPE OF THE STUDY

The study intends to cover Guarantee Trust Bank
and United Bank for

Africa, headquarter of the banks and selected
branches within Lagos

metropolis. The study is limited to effect of
motivation of employee as

a tool in increasing employee’s efficiency.

1.8   LIMITATION FOR THE STUDY

In the course of carrying out this study, a lot
of challenges stood on our

way, prevalent among these are:

–            
Finance

–            
Transportation

–            
Uncompromising attitude of some interviewers hoarding of vital
information by some staff of the two banks.