Project Abstract

Project Overview

<p> </p><div><p><b>INTRODUCTION</b></p><p><b>1.1</b>&nbsp; &nbsp; &nbsp; &nbsp;<b>BACKGROUND OF THE STUDY</b></p><p>In recent times, managers and<br>management researchers have long believed that organizational goals are<br>unattainable without the enduring commitment of members of the organisation. It<br>has been said that the workforce remains the most critical productive asset of<br>any Organization. It is the human element that gives direction and dynamism to<br>the organisation.</p><p>In fact, any organisation can<br>only grow to the extent made possible by the Voluntary and creative application<br>of the skills and expertise of its workforce. It is for this reason that the<br>search ways and means of motivating the workforce for optimal organisational<br>performance has more or less remained a cardinal concern of management since<br>the birth of industrial civilization.</p><p>Today, as in the early days<br>of organizational history, managers often ask some fundamental questions: what<br>can we do to motivate our workforce? What is the purpose of motivation? No one<br>yet has discovered a single Technique or gimmick that answers this question.</p></div><div><p>As<br>many still ignore that fact that no organization can survive without its<br>workers, and the workers themselves cannot be productive if their needs are not<br>met.</p><p>Also, managers and management<br>researchers have long believed that Organizational goals are unattainable<br>without the enduring commitment of members of the organization.</p><p>Freeman (1998: 38-39) noted<br>that organizations, emphasized increase in productivity without necessarily<br>considering the needs of the workers. They are however, ignorant of the fact<br>that organization cannot survive without its workers and the workers themselves<br>cannot be productive if their needs may not be met.</p><p>Aluko, M.A. (2000: 32)<br>asserted that workers should not be made to work as machines and tools whose<br>presence in the organization is just to perform while emphasis is placed on<br>productivity alone without thinking of what will drive the employee to put on<br>his optimum best.</p><p>Stoner (1998:463) stated that<br>motivation is a human psychological characteristics, it includes the factors<br>that cause channel and sustain human behaviours, motivation deals with “what<br>make people think”.</p></div><div><p>Aluko<br>(2000:32) noted that the major motivational factor is money, although we have<br>seen that in Nigeria, money alone do not guarantee productivity.</p><p>Other non-monetary incentives<br>such as price, job promotion, upgrading and advancement, job security and<br>recognition go a long way to boost the morale of workers. If workers needs are<br>satisfied, it might lead to an increase in productivity. However, every manager<br>regardless of the size of the organization can incorporate motivation into the<br>work environment to stimulate and influence employee.</p><p>From the foregoing, since the<br>study of motivation is essential for organisational survival and growth, it is<br>an attempt by this study to look at the effect of motivation as a tool for<br>increasing employee’s efficiency. A study of selected bank in Nigeria.</p><p><b>1.2</b>&nbsp; &nbsp; &nbsp; &nbsp;<b>STATEMENT OF THE PROBLEM</b></p><p>Although much has been said<br>and written on this topic, and the fact that the subject has been given<br>increased in most organization especially in Guarantee Trust Bank and United<br>Bank for Africa, one still finds out that productivity in most financial<br>institution is low; it takes extra efforts for the staff to put on optimal<br>performance.</p></div><div><p>In<br>the light of the foregoing, the critical task of this research is to identify<br>effective motivational strategies that could propel and increase employee<br>efficiency in Guarantee Trust Bank and United Bank for Africa.</p><p>Also right from the beginning<br>management of organizations has always been faced with the problem of how to<br>motivate workers to greater performance with a view to increasing productivity.<br>Even till now, the problem still persists in most organisations. Therefore the<br>problems posed by this study are:</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Does money or monetary incentive induce workers to perform well on their<br>task?</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Some of the employee may not be satisfied with the present reward system<br>as been instituted by management hence, management may ignore the real<br>incentive that motivate employee.</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Money alone is not the only motivating force that induces employee to<br>put their optimum best, there are other forms of this reward: praises, job<br>advancement, higher responsibility and promotion. The question then is, to what<br>extent has it been incorporated into the banking industries?</p></div><div><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Labour turnover is a major problem in most of Nigeria Banks. Some banks<br>record as much as 20% to 30% within a year.</p><p>The question then is, is<br>labour turnover as a result of poor employee motivation?</p><p><b>1.3</b>&nbsp; &nbsp; &nbsp; &nbsp;<b>OBJECTIVES OF THE STUDY</b></p><p>This study intends to:</p><p>(i) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<br>Examine the effect of motivation in increasing employee productivity</p><p>(ii) &nbsp; &nbsp; &nbsp; &nbsp;<br>Find out may be money (pay) is the main motivating factor that can make<br>employee increase their level of performance.</p><p>(iii) &nbsp; &nbsp; &nbsp; <br>Examine other inherent problem and constraints militating against<br>effective employee motivation in an organization.</p><p>(iv) &nbsp; &nbsp; &nbsp; <br>Suggest personal administrative system, policy and procedure that can<br>assist organization to highly remunerate their workforce and reduction in the<br>labour turnover.</p><p><b>1.4</b>&nbsp; &nbsp; &nbsp; &nbsp;<b>RESEARCH QUESTIONS</b></p><p>The research seeks to answer the following:</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Does motivation have any impact on employee’s performance?</p></div><div><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Does many play a determining role in the optimum performance of an<br>employee?</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Is it possible for employee to leave his/her present job if he/she is<br>offered a higher package?</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Are there any difference in what is offered now compare to other banks?</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>What are<br>the causes of labour turnover in Nigeria banks?</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Are there any different in motivational packages of the present<br>generation banks compare to the old generation banks?</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Are labour turnover more prevailed in old generation banks to new<br>generation banks?</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>How can the present existing remuneration packages of this bank be<br>improved?</p><p><b>1.5</b>&nbsp; &nbsp; &nbsp; &nbsp;<b>RESEARCH HYPOTHESIS</b></p><p>The following research hypothesis shall be<br>tested.</p><p>Ho: there is a relationship between motivation<br>and productivity</p><p>Hi: &nbsp; &nbsp; There is no relationship between motivation and productivity.</p><p><b>1.6 &nbsp; SIGNIFICANCE OF THE STUDY</b></p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>The study will be of immense importance to different categories of<br>people: namely individuals, students, organisations and the</p></div><div><p>management of<br>Guarantee Trust Bank and United Bank for</p><p>Africa .</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>The research work when accomplished will create ways by which the<br>management of Guarantee Trust Bank will reappraise there present motivation<br>package with the aims of improving employee’s performance and reduction in<br>labour.</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>It is also hoped to increase the level of knowledge on the existing<br>motivation schemes in the Nigeria Banking Sector.</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>It will<br>assist student as a reference material in their libraries.</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>It will also pose a challenge to other researchers who may be interested<br>to research more in their area.</p><p><b>1.7</b>&nbsp; &nbsp; &nbsp; &nbsp;<b>SCOPE OF THE STUDY</b></p><p>The study intends to cover Guarantee Trust Bank<br>and United Bank for</p><p>Africa, headquarter of the banks and selected<br>branches within Lagos</p><p>metropolis. The study is limited to effect of<br>motivation of employee as</p><p>a tool in increasing employee’s efficiency.</p><p><b>1.8 &nbsp; LIMITATION FOR THE STUDY</b></p><p>In the course of carrying out this study, a lot<br>of challenges stood on our</p><p>way, prevalent among these are:</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Finance</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Transportation</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Uncompromising attitude of some interviewers hoarding of vital<br>information by some staff of the two banks.</p></div><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Time constraints as to the deadline for the submission of the research<br>work.</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Scarcity<br>of relevant material</p><p>Despite these challenges<br>effort were made to carryout a thorough investigation on the study without<br>impede on the exercise.</p><p><b>1.9</b>&nbsp; &nbsp; &nbsp; &nbsp;<b>DEFINITION OF TERMS</b></p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>PERFORMANCE: This is defined as the ability to achieve result or given<br>objectives (Freeman, 2000:29).</p><p>– &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>MOTIVATION: This refers to an inner drive that Energizes activities<br>compels and moves an individual to act or behave positively on a certain manner<br>(Stoner, 1998:463).</p><p>PRODUCTIVITY: This means output per unit of<br>Labour input, it is the balance between all factors of production that will<br>give the greatest output for the smallest effort (Freeman, 1998:38-39)</p> <br><p></p>