EMPLOYEE BENEFITS AND IT EFFECTS ON EMPLOYEE PRODUCTIVITY (A CASE STUDY OF FIRST BANK NIGERIA PLC, UYO BRANCH)
The purpose of this research work is to examine the effects of motivation on employeesâ€™ productivity in organizations in Nigerian workplace. First bank Nigeria Plc was use as the case study.
The study has provided the conceptual framework upon which motivational programs in First Bank Nigeria Plc. Workplace are based as well as the type of activities and skills that are involved. The focus is on such programs that will help employees deal with personal problems that might affect their productivity.
The research work covers the fundamentals rudiments of employee motivational process and the appropriate steps needed to successfully implement the findings. It also addresses the values and culture of the Nigerianazation norms that may affect the success of implementation.
A questionnaire was designed and administered to the employees of First Bank Nigeria Plc. to find out the workers attitudes towards adequate motivational incentives and the types of problems commonly being experienced by the employees in the organization.
Hypothesis were formulated and tested. Chi-square test was used to facilitate the research study. Also actual mean and percentage techniques were employed.
Based on the data collected, the result indicated that the workers were positively affected towards higher productivity with the provision of fringe benefits.
Finally the research result showed the staff problems and circumstances militating against higher productivity. Solutions were recommended to obviate deterioration on workers productivity.
TABLE OF CONTENTS
Table of Content
1.0 Background to the Study
1.1 Objectives of Study
1.2 Statement of Problems
1.3 Research Questions
1.4 Research Hypotheses
1.5 Limitation of Study
1.6 Significance of the Study
2.0 Literature Review
2.1 Douglas McGregor: Theory X and Theory Y
2.2 Abraham Maslow: Hierarchy of Human Needs in Motivation and Personality
2.3 Fredrick Hertzberg. Work Needs
2.4 David McClelland Motivation Mode
2.5 Tannenbaum & Schmidt
2.6 Victor Vroom's Expectancy Theory
2.7 The Herzberhg Studies
2.8 Nature and Types of Employees Benefits
2.8.1 Legally Required Benefits
2.8.2 Voluntary Fringe Benefit
2.8.3 Return of Employee Benefits Employer
2.9 Rewards (Fringe Benefits) Provided by First Bank of Nigeria Plc
3.0 Research Methodology
3.1 Sample Size
3.2 Sampling Techniques
3.4 Instrument Scoring Scale
3.5 Statistical Analysis of Data
4.0 Presentation and Analysis of Data
4.1 Personal Data of Respondents
4.2 Analysis and Interpretation of Data
4.3 Testing and Interpretation Of Hypotheses
5.0 Summary, Conclusion and Recommendation
1.0 BACKGROUND TO THE STUDY
The most important dependent variable in industrial and organization psychology is job performance, one of the major concerns of manufacturing companies has focused on improving worker productivity, Which is one of the job performance measures. Performance can also be described as the mean through which organizational member contribute to achieve the objective of the organization.
On the other hand when you expect little from employees they will give you low performance in return, as set put - to fail syndrome. Many people feel that they are not recognized or appreciated by their employees for their hand work and in turn develop decreased motivation. Lack of communication and feedback from employer cause employees to feel overlooked and inhibits them from performing to the best of their ability.
Employee motivation is one of the strategies of managers to enhance effective job performance among worker in organization. Motivation as a basic psychological process is the management process of influencing behaviour based on the knowledge of what make people think. Luthans (1998) asserts that motivation is the process that Grouses energizes, directs, and sustains behaviours and performance.
That is the process of stimulating people to action and to achieve a desired task. One way of stimulating people to employ effective motivation, which makes workers more satisfied with and committed to their jobs. .
Money is not the only motivation. There are other incentives which can also serve as motivation. However in order to observe an effective work
performance in an organization work motivation may not be only key factor as put by Luthans (1998).
To increase productivity at work management need some strategies in which particularly work motivation leadership effectiveness and time management are promised. In the light of the above, this study sets to investigate the above variables and find out how they influence employees performance in an organization taking a Nigerian bank as case study.
1.1 OBJECTIVES OF STUDY
To identify the various reward systems in First Bank of Nigeria Plc with a view to establishing their effect on the motivation of staff.
To find out whether there is any correlation between rewards and performance of the employees.
To reduce influence of Unions
To assist in developing a productive work environment
To improve labour turnover and absenteeism in First Bank of
To proffer useful suggestions towards improving the rewards system in the organization so as to enhance the productivity of its work force and by extension the banking industry and the economy as a whole.
1.2 STATEMENT OF PROBLEMS
Rewards might not give a desired result, human beings (employees) are so unpredictable as they might not really attach much importance or see nothing motivating in the benefits scheme in terms of administration which makes it very expensive to operate. The implication of these to employees is of increasing exposure monetized society, raising education and wider contact among people resulting from the break-up of artificial barrier was to shift aspirations to a more satisfying work experience, greater control over the organization of work, greater opportunities for personnel department and wider scope in exercise of initiatives.
Specifically, the refusal of work organization to recognize the motivating factors in industrial production through greater motivational tools tends to create several human problem in this setting.
1.3 RESEARCH QUESTIONS
Did fringe Benefits (rewards) actual motivate staff of employees of First Bank of Nigeria Plc.
Can organization objective be achieved with or without rewards (fringe Benefits)
Could provision of rewards (fringe Benefits) promote employees moral?
Do fringe Benefits increase productivity in First Bank of Nigeria Plc.
Could attractive fringe Benefits (reward) in an organization reduce labour turnover)
1.4 RESEARCH HYPOTHESES
H1 provision of fringe benefits help to reduce turnover or makes the job attractive to employees.
Ho provision of fringe benefits does not help to reduce turnover or makes the job attractive to employees.
H1 sense of pride and accomplishment interest employees as does monetary reward.
Ho Sense of pride and accomplishment does not interest employees as does monetary reward.
H1 reward (fringes benefits) helps in achieving company objectives to an extent
Ho Reward (fringes benefits) does not help in achieving company's objectives to an extent
1.5 LIMITATION OF STUDY
The conduct of research in Nigeria and indeed all developing countries is imbued with a lot of problems. This research work has been limited by time and financial constraints the scope of this study is limited to First Bank of Nigeria PLC. Few branches of First Bank plc within Lagos State.
The willingness of Staff in disclosing Information due to staff competition in the banking industry constitutes another limitation.
Also the show flow of traffic in Lagos metropolis contributed in limiting the scope of this study work.
1.6 SIGNIFICANCE OF THE STUDY
This study has a practical significance and it can be useful to manager and decision makers in the following ways first, the findings of this study will help the organization under study and other organization to know how best to reward hard working employees.
Secondly, it will assist the organization to relate reward to the performance of their employees, by pointing out the effect of reward system on the motivation of staff, employers would be assisted to adopt the most appropriate reward that would bring forth better performance of employees in this era of economic recession.
It is also expected that by this effort every individual performance will be rewarded according to achievement in other words, reward should be geared towards motivation performance if the objectives / goals of the organization are to be achieved. A situation whereby employees are given across the board, reward irrespective of their performance breeds frustration and lack of commitment on the part of the high flyer employees. This study shall endeavour to establish why reward should be based on individual performance and achievement rather than on any other factor. This the only way effective performance, which is essential for the success of an organization can be achieved.
Abraham Maslow (1943) motivation and personality. 2nd Edition (New York: Harper and Rowi 1970) pg 103- 115
A.H Maslow (1943) The Theory of Human motivation, originally published in psychological Review, 50, 3 70 - 396.
GALLERMAN S.W Motivating men with money fortune magazine March 1954. New York Free press
LIKERT R. (1967) New patterne of management and human organization.
McGraw - Hill, New York
MASLOW, A.H. "Motivation and personalituy" 1970 Edition Harper and Bros) N.Y. 1954
WDEKWU E.C. (1994) First Bnk of Nigeria plc a century of Banking Nigeria Spectrum, Book Limited.
OYAKHIRE M. (1996) what motivate Enployee ? Nigeria Bunak