Identify Effective Motivational Techniques That Could Increase Employee Performance Business Essay
In resent times, managers and management researcher have reaffirm long term believe that organisational 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 organisation. It is the human element that gives direction and dynamism to the organisation.
In fact, an 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 for 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 organisational history, managers often ask some fundamental questions: what can we do to motivate our workforce? What is the purpose of motivation? As many still ignore the fact that no organisation can survive without its workers, and the workers themselves cannot be productive if their needs are not met.
Freeman (1998), noted that organisations, emphasized increase in productivity without necessarily considering the needs of the workers. They are however; ignorant of the fact that organisation cannot survive without its workers and the workers themselves cannot be productive if there needs are not met. Aluko, M.A. (2000) asserted that workers should not be made to work as machines and tools whose presence in the organisation 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) stated that motivation is a human psychological characteristic, it includes the factors that cause channel and sustain human behaviour, motivation deals with “what makes people think”. 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 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 organisation 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 productivity.
1.2 STATEMENT OF PROBLEM
Although much has been said and written on motivation and employee performance, and the fact that the subject has been given increased attention in most organisations, it takes extra effort for the staff to put on optimal performance. Employees and employer have different intentions as regards to contributions each one of these groups bring to the development or goals of the organisation. Employees are concerned with maximizing their purchasing power while the employers are interested in minimizing cost and securing the best value for minimum outlay. Different opinions have come up in the study of motivational effects as to whether or not they impact on employee performance and improve productivity.
In the light of the fore going the critical task of this research is to identify effective motivational techniques that could increase employee performance.
1.3 RESEARCH QUESTIONS
The research seeks to answer the following:
i. Does motivational techniques have any impact on employee performance?
ii. Does money play a determining role in the optimum performance of an employee?
iii. Is there any difference in the motivational package of the present generation banks compare to the old generation banks?.
iv. How can the present existing remuneration packages of these banks be improved?
v. Is it possible for an employee to leave his present job if he is offered a higher package?
1.4 OBJECTIVES OF THE STUDY
This study intends to:
-To establish the relationship between motivation and performance.
- To examine the effect of motivational techniques in increasing employee productivity.
- To identify the motivational techniques used by Union bank and Fidelity bank.
- To critically compare their relative impact upon employee productivity and efficiency.
- To make recommendation for further research.
1.5 RESEARCH HYPOTHESIS
The following research hypothesis will be tested:
H0: There is a relationship between motivation and productivity.
H1: There is no relationship between motivation and productivity.
1.6 BACKGROUND OF THE ORGANSATIONS
Union bank of Nigeria plc was established in 1917 as a colonial bank with its first branch in Lagos. In 1925 Barclays bank acquired the colonial bank which resulted in the change of the bank’s name to Barclays bank (Dominion, colonial and overseas). Following the enactment of company’s act1968 and the legal requirement for all foreign subsidiaries to be incorporated locally, Barclays bank (DOC) in 1969 was incorporated as Barclays bank of Nigeria limited. The ownership structure of Barclays bank remained unchanged until 1971 when 8.33% of the bank’s shares were offered to Nigerians. In the same year it was listed on the Nigeria stock exchange. As a result of the Nigerian enterprise promotion act of 1972, the federal government of Nigeria acquired 51.67% of the bank’s shares which left Barclays bank plc with only 40%. By the enactment of 1972 and 1977, the Nigeria enterprises promotion act Barclays bank international disposed its shareholdings to Nigerians in 1979. To reflect new ownership structure and in compliance with the companies and allied matters act of 1990 it assumed the name Union bank of Nigeria plc. In accordance with the government programme of privatisation and commercialisation of public enterprises, the federal government in 1993 sold its shares in union bank to private individuals. Thus union bank became fully owned by Nigerian citizens and organisations. Background of organisation from bank website (www.unionbankng.com).
Fidelity bank plc began operations in 1988, as a merchant bank. In 1999 it converted to a commercial banking and then became a universal bank in February 2001. The current enlarged fidelity bank is a result of the merger with the former FSB international bank plc and Manny bank plc (under the Fidelity brand name) in December 2005.
Fidelity today is ranked amongst the top 10 in the banking industry with presence in major cities and commercial centres of Nigeria. Over the years the bank has been reputed for integrity and professionalism. It is also respected for the quality and stability of management.
Staffs are also respected in the Nigerian banking industry for the quality of training they receive on the job as well as in good business school both in Nigeria and overseas. The management is particular about the quality of people that join the system. To qualify as a member of team Fidelity candidates are expected to posses three vital features: Talent: an innate mental aptitude, Ambition: a desire to succeed and Character: a total quality of integrity which will guide the talent and ambition to productive ends. Background of the organisation from bank’s website (www.fidelitybankplc.com)
1.7 SINGNIFICANCE OF STUDY
This study will be of immense important to different categories of people: namely individuals, students, organisations and the management of Union bank Nigeria and Fidelity bank plc, because at the end of this research work, an in-depth knowledge into motivation and how it affects employee performance in workplace settings will be well understood. The research work when accomplished will create ways by which the management of Union bank of Nigeria and Fidelity bank will reappraise there present motivation package with the aim of improving employee performance. It might also be useful in determining, if the employees present performance or output is based as a direct result of the present motivational schemes being used in the banks or the conventional basic salary components.
It also hopes to increase the level of knowledge on the existing motivational schemes in the Nigerian banking sector. It will assist students as a reference material in their libraries, for students interested in research in this area. It also seeks assistance to other researchers who may be interested to research more in this area, it terms of literature and to compare views.
1.8 SCOPE AND LIMITATION OF STUDY
This study focuses on the motivational techniques or packages that have the potential of stimulating employees to higher productivity in the workplace. The study intends to cover Union bank of Nigeria and Fidelity bank plc, headquarter of the banks and selected branches within Lagos metropolis.
Due to the nature of the industry there might be problems gathering data, because issues of a bank’s productivity/output are always kept in secrecy and measuring output and productivity are difficult because it is complex. The usual problem of administering questionnaire especially in an industry like banking is the problem associated with research studies, where the respondents might not be truthful and willing to corporate. Delayed collection of questionnaire can be a source of limitation to the study, time constraints as to the deadline for the submission of the research work. Despite these challenges effort will be made to carryout a thorough investigation on the research work.
1.9 OUTLINE OF THE PROPOSED CHAPTERS
Chapter One: This chapter would introduce the research and the background to the study the purpose and significance of the study, research statements, analyses of the problem, relevant research questions and other related issues.
Chapter Two: This chapter discusses the conceptual and theoretical overview of the study. It would review the literature of various notable scholars on motivation and productivity.
Chapter Three: The research design, description of the sample data and methodology of research will be explained in this chapter. It is a report of the rationale for approach to analyses of the sample data to enable us gets to the research findings.
Chapter Four: This chapter gives a detailed analysis of the sample data with a view to testing the proffered research hypothesis for this study. The analyses will be carried out on the research data.
Chapter Five: This final chapter of the research study would highlight the major findings of the study. This will lead to possible inferences on the implication of the findings.
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