ASSESSING THE EFFECT OF MOTIVATIONAL TECHNIQUES ON BANK PERFORMANCE
Project Details
Department | BANKING AND FINANCE |
Project ID | BF099 |
Price | 5000XAF |
International: $20 | |
No of pages | 78 |
Instruments/method | QUANTITATIVE |
Reference | YES |
Analytical tool | DESCRIPTIVE |
Format | MS Word & PDF |
Chapters | 1-5 |
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CHAPTER ONE
1.1 INTRODUCTION
The term motivation originated for the latin word “movere” which means to move.
This definition however, is too narrow to described because of its vary way in complete process.
Motivation is defined as an individual needs desires and concept that has cause people to act in a particular manner.
Motivation has been link with urges, in strict, purposes, goals, desires involving the physiological social aspect of human being.
Motivation is necessary in order to stimulate employees to work toward achieving the set objective of the organization.
for many years have sought ways of encouraging the subordinate to work well.
The old established way is the reward punishment system of the called “he dorists” whose view of man is a creature whose objective in life are the accent was on punishment, but in more recent times, the reward system has been applied, for example in the form of bonus scheme , profit sharing& merit rating however, during the past four decades, the quest for better ways of motivating people at work has caused some researchers to concentrate on the psychological factor that stimulate worker are developing the incentive of financial reward the choice between financial motivation and psychological motivation has been the subject of much controversy, but one thing is clear, that is dangerous to generate about motivation, various organization to make employees to achieve greater productivity in their work motivation however, is seen as the satisfaction of human needs in his working place with low motivating, factor tends to low productivity.
Some organization are continually faced with the fact that vast difference exist in life performance of group of employees.
Vital question, which this research work intend to answers includes the theories of motivation. What is the link between motivation and productivity and concept of motivation.
Motivational techniques are those things management have in use of a tool to motivate their employees.
It is imperative to say that any management that refused to use these techniques will at all end of it record high turnover and might eventually give up in the business world.
Productivity is the balance between all factors of production that will give greater output for the smallest effort.
Productivity can also be expressed as the ratio of output to input and the most commonly used formula for productivity equal unit of output divide by man hours.
But this appears to be over simplified since man hour implies labour of input or resource.
It has be observed that workers productivity in Nigeria is affected adversely by on the attitude of average Nigerian workers and the dynamic of social system in which he finds himself.
The concept of motivation in organization has received increased attention in recent years among organization researchers.
There are at least three major reason on interest first, the ever increasing external force of national and international competition, economic, social technological and governmental condition have force management to developed and acquire new techniques and mechanism to increase or at least maintain the level or organization efficiency and effectiveness.
This however, requires the effective utilization of all the resources of the organization. i.e financial, physical and human.
Most theories contemporary motivation lists show that one believes money to be unimportant in affecting the behavior of people at work.
Instead, there is much evidence to the contrary. Several researches have attempted to list the needs of workers in order of importance and have show that while managers believes their worker consider pay to be of prime importance, the workers themselves sometime place money way down the list below such factor as job security and work which is both interesting and worthwhile.
The most importance ways of encouraging people to work well fall into four categories ranging purely monetary inducement to mere enjoyment of working.
In some organization, because of climate the type of work and tradition, financial incentives may be quite effective in raising productivity while in some as much of the payment may be preferred that retains much of the incentive element, but which offers a stable wage.
Such payment known as measured day work obviates many of the difficulties caused by direct incentives of the remaining two categories, one contain the risk element of the carrot and stick management philosophy, relying on the traditional method of supervision cajoling, inducing, encouraging and threatening people achieving their targets.
The extreme of the techniques of management ensures that the environment and the job are stimulating in the themselves and therefore external and therefore external incentives are unnecessary because the will to work comes form within the worker.
The last approach seems the most attractive because it appeals to human needs, which allow people to do good job and to complete a test because they have the wish to do so and not merely to avoid loss of bonus or the pleasure of their superiors.
However, it is pertinent note that the urge to satisfy the needs of employees, which might have resulted in low performances, bring about the introduction of motivation to serve as an organizer for such employees.
Although, there is no universally accepted group of practice embraced by the term motivation, but generally, it has to meet two tests. Firstly, it must provide a it must provide a specific benefit to the employee. And secondly, it must represent a cost to the employer.
In a developing country like Nigeria, the growth motivation has been primary influenced by economics factors, some have from grown as a result or pressive from union and some sheer limitation.
In access bank Plc there are some motivational techniques carried out to motivate and encourage efficiency in ht e workers.
This study is aimed at examine the adequacy of these techniques.
1.2 STATEMENT OF THE PROBLEM.
Motivational techniques to employees of a company could be viewed from two opposing ends on one hand, employees enjoy benefit and on the other than, it is a cost to the employer. These two have been reconciled in order to fulfill the organizational goals and objectives.
In addition to basic wages, substantial portions of the total labour cost in many companies today, concern motivation. Furthermore, it is now apparent that some employees feel entitle to certain percentage of their company’s profit as well as product.
The above situations no doubt possess a lot of concern to industrial managers and entrepreneur of small and medium size companies.
The problems of motivation therefore, are in it nature of demand, applied application for and corn on application.
For instance in a country where government has not been able to adequately cater for the need of their citizen, the tendency is for the industrial or commercial concern to undertake some of the basic needs e.g medical treatment, house allowance, transport allowance and so on. Although most companies are not keen at granting motivation because of the likely noticeable financial impact on their annual profit they are often forced by the industrial union such as Nigeria labour congress (NLC) to accept. Sometimes, before such accord is reached, there may be strike actions and lockout and possibility the intervention of the government. In the process the business may suffer the employees may lose wages the customer would be affected and the shareholder will definitely may want to express their concern.
Also during the period of National Economics decline in business, most companies may not be willing to grant additional motivation because of the fear of not achieving the company desired goals and objective.
It may tend to wider the gap between the junior and the senior workers (a situation that may not motivate the junior employee’s behavior). By the time the organization realize another set of demands by the workers might have crept in.
It is however, appears the days of cleans wages are gone forever, workers will continue to demand for salaries supplement whether or not those salary supplement will insure employees to put in their best at all times will continue to be a subject for research also, it has been assured that motivated workers produce unmotivated employees.
In addition, this research work was embarked upon because certain problem was raised, the problems are as follow:
A. What are the factor to be considered before motivational techniques are applied and how many forms of motivational instrument should used at a time
B. What are the some of the motivational instrument instruments the organization used to motivate its workers and why do you employees prefer different ways of motivation.
C. What are the particulars ways an organization can motivate its employees and the effect on the organization when the wrong kind of instrument of the motivation are used.
1.3 JUSTIFICATION OF THE STUDY
The primary task of manager or supervisor is that of maintaining an organization that functions effectively.
To do so, he must see that his subordinate work efficiently and effectively and produce result that is beneficial to the organization. Since every action of the manager task is an organization stimulates a reaction in its employees, he has no choice of whether or not he motivates them, only of how it does it.
Will his action be effective so that the subordinates work for the benefits of the organization or ineffective to the organizations detriment?
It is the question on the techniques on how to empty effective motivation that the study is concern about.
However, this study will be of great importance to the management of other organizations because it will help them to form a baseline from which to examined their motivation techniques on bank performance and determined their adequacy.
It will also serve a great purpose to the government because in Nigeria today, the government is the greatest employer of labour. Government owned organizations employ more labour than the private counter parts.
It is quit disheartening to note that the highest amounts of inefficiencies are recorded in the government owned organizations.
These efficiencies results to a large extent, from the governments in ability to extend motivational techniques on how to improve the performance of their workers.
Lastly, the study will act as a guild for the government in finding out the reasons behind the problems of inefficiencies in the public sector and provide guild lines in solving these problems.
1.4 OBJECTIVES OF THE STUDY
The purpose of these study is to determined the effects of motivation in Access Bank Plc, Ilorin Branch, to its employee as a way of enhancing there performances.
However, the specific objectives of the studies are:
a. To appraise and evaluate all the motivational techniques those are operation in Access Bank Plc, Ilorin branch.
b. To find out the effect of these techniques on workers performance.
c. To find out employees perception of fringe motivational techniques in Access Bank Plc, Ilorin branch.
d. To find out management view of motivational techniques.
e. To suggest the techniques that are necessary to motivate the employees, but which are offer by the organization.
f. To recommend how to use these techniques in motivating the employees to improved their working performance.
1.5 SCOPE AND LIMITATION OF THE STUDY
This study is focused in analyzing what motivational techniques are like on bank performance and have they are generally applied to motivate employees and improved their performance.
However, this study will be limited to Access Bank Plc, Ilorin branch because of some constraints, which may make it difficult to cover organizations. in same line of operation.
Therefore, it will be based on facts and data collected from Access Bank Plc, Ilorin branch.
A more detailed research would be paper on the limiting factors which include;
a) Time constraint
b) Non available of information and the volume of work required
c) Financial constraint.
Lastly, the inability of respondents to come out with accurate and necessary information posses serious constraints, because of the employees feels that revealing some information may means contravening the policies and regulations of the bank.
All these situations invariably have some effects on my facts and findings, but I believe they are not enough to validate the findings.
1.6 SIGNIFICANCE OF THE STUDY
As a result of the indispensable role played by motivation in an organization, this my research work would be found useful in many ways to the followings;
a. Organization, government parastatals, business firms and Access Bank Plc my case study.
b. This research in it knowledge has been enhanced about the topic and the hidden secrets of motivation has been discovered.
c. Other researchers such as student, academics and analysts, will find it useful to serve as a background for further studies.