An appraisal of motivation on productivity and job performance of employees in the banking industry (a case study of eco bank plc)

Project Abstract

Motivation is a crucial factor that influences the productivity and job performance of employees in the banking industry. This study aims to conduct an appraisal of motivation on productivity and job performance of employees in Eco Bank Plc. The research will employ a mixed-method approach to gather both quantitative and qualitative data to provide a comprehensive analysis. The study will focus on understanding the various motivational factors that drive employees in the banking sector, particularly within Eco Bank Plc. Factors such as financial incentives, career growth opportunities, recognition, job security, and work-life balance will be explored to determine their impact on employee motivation. Furthermore, the research will investigate the relationship between motivation and productivity levels among employees at Eco Bank Plc. By analyzing key performance indicators and employee output, the study aims to establish a correlation between motivation levels and job performance. This analysis will provide valuable insights into how motivation influences the overall productivity of the bank's workforce. In addition, the study will assess the strategies and practices implemented by Eco Bank Plc to motivate its employees. By examining existing motivational programs, training initiatives, and employee feedback mechanisms, the research aims to identify areas of strength and potential areas for improvement in the bank's motivational strategies. The findings of this research will contribute to the existing literature on motivation in the banking industry and provide practical insights for managers and HR professionals at Eco Bank Plc. By understanding the key drivers of motivation and their impact on employee productivity, the bank can tailor its strategies to enhance employee engagement and job performance. Overall, this study will offer a comprehensive appraisal of motivation on productivity and job performance of employees in the banking industry, with a specific focus on Eco Bank Plc. The research outcomes will not only benefit the bank itself but also contribute to the broader understanding of how motivation influences employee behavior and organizational performance in the banking sector.

Project Overview

<p> </p><p><strong>2.0 &nbsp; &nbsp; &nbsp;</strong><strong>INTRODUCTION</strong></p><p>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.</p><p>&nbsp;</p><p>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).</p><p>&nbsp;</p><p><strong>2.1 &nbsp; &nbsp; &nbsp;</strong><strong>BACKGROUND OF THE STUDY</strong></p><p>The banking sector in Nigeria has witnessed tremendous changes in their business activities. These changes are in the areas of high productivity and profitability.</p><p>&nbsp;</p><p>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.</p><p>&nbsp;</p><p>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.</p><p>&nbsp;</p><p>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).</p><p>&nbsp;</p><p>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.</p><p>&nbsp;</p><p><strong>2.2 &nbsp; &nbsp; &nbsp;</strong><strong>STATEMENT OF PROBLEM</strong></p><p>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.</p><p>&nbsp;</p><p>The dissatisfaction of employees are more often than not, reflected in high labour turnover, frequent complaints, strikes and determination in job performance. Ojaide, (1998).</p><p>&nbsp;</p><p><strong>2.3 &nbsp; &nbsp; &nbsp;</strong><strong>OBJECTIVES OF THE STUDY</strong></p><p>No research work can be embarked upon without a definite pursuit or goal. Thus, this study must of necessity have its objectives, which are;</p><p>(1) &nbsp; &nbsp; &nbsp; &nbsp; To examine the role that motivation plays in employee’s productivity.</p><p>(2) &nbsp; &nbsp; &nbsp; &nbsp; 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.</p><p>&nbsp;</p><p>&nbsp;</p><p><strong>2.4 &nbsp; &nbsp; &nbsp;</strong><strong>RESEARCH QUESTIONS</strong></p><p>The following research questions are drawn to guide the study</p><ol><li>To what extent have employee motivations increased organizations’ productivity and profitability?</li><li>How does an employee consider motivation as a catalyst to their productivities in the organization?</li><li>Does money serves as the only incentive used to motivate employees in organizations?</li><li>Does job commendation serves as an incentive for good job performance in organizations?</li><li>To what extent are the employees appreciated in the success of their organizations?</li></ol><p>&nbsp;</p><p><strong>2.5 &nbsp; &nbsp; &nbsp;</strong><strong>RESEARCH HYPOTHESES</strong></p><p>The hypotheses to be tested in this study are;</p><p><strong>Hypothesis 1</strong></p><p><strong>Ho</strong>: That there is no direct relationship between job commendation and productivity</p><p><strong>Hi</strong>: &nbsp; That there is a direct relationship between job commendation and productivity.</p><p><strong>Hypothesis 2</strong></p><p><strong>Ho: &nbsp;</strong>That motivation does not serve as a catalyst for employee productivity in their organizations.</p><p><strong>Hi: &nbsp; </strong>That motivation serves as a catalyst for employee productivity in their organizations.</p><p>&nbsp;</p><p><strong>2.6 &nbsp; &nbsp; &nbsp;</strong><strong>SIGNIFICANCE OF THE STUDY</strong></p><p>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.</p><p>&nbsp;</p><p>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.</p><p>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.</p><p><strong>&nbsp;</strong></p><p><strong>2.7 &nbsp; &nbsp; &nbsp;</strong><strong>METHODOLOGY</strong></p><p>The method to be used in this research work will include primary and secondary data.</p><p>&nbsp;</p><p>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.</p><p>&nbsp;</p><p>The secondary data will be used through journal, articles, and publications e.t.c.</p><p>&nbsp;</p><p><strong>2.8 &nbsp; &nbsp; &nbsp;</strong><strong>LIMITATION OF STUDY</strong></p><p>The investigation and reporting are limited to the area of study alone; that is the management and staff of Eco BankNigerian Plc, Alaba International Market, Ojo, Lagos, due to constraint of time, materials and human resources.</p><p>&nbsp;</p><p><strong>2.9 &nbsp; &nbsp; &nbsp;</strong><strong>OUTLINE OF CHAPTERS</strong></p><p>This study divided into 5 chapters;</p><p>Chapter one: &nbsp; Introduction</p><p>Chapter two: &nbsp; Literature Review</p><p>Chapter three: Research Methodology</p><p>Chapter four: &nbsp; Data analysis and Interpretation</p><p>Chapter five: &nbsp; Summary and conclusion</p><p>&nbsp;</p><p><strong>2.10 &nbsp;</strong><strong>DEFINITION OF TERMS</strong></p><p>(1) &nbsp; Motivation: &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Stimulate the interest of or inspire</p><p>(2) &nbsp; Profitability: &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Bringing profit</p><p>(3) &nbsp; Incentives: &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Something that encourages action or effort</p><p>(4) &nbsp; Commend: &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Praise, entrust</p><p>(5) &nbsp; Entrepreneur: A person who sets up a business at considerable</p><p>risks.</p><p>(6) &nbsp; Ambition: &nbsp; &nbsp; &nbsp; &nbsp; Strong desire to achieve something</p><p>(7) &nbsp; Sector: &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Part of an Area, a branch of an activity</p><p>(8) &nbsp; Purport: &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Pretend; be intended to seem.</p> <br><p></p>