The Effect of Motivational Incentives on the Performance of Employees

The Effect of Motivational Incentives on the Performance of Employees

CHAPTER ONE

INTRODUCTION

Motivation on bank employees was established by the organization (bank) to reset the healthy course of reconstruction growth and development of the organization (bank) this research is set to understand how height level of employee engagement incentive to reward good work which happens to be a tried and also a tested way of boosting staff morale.

But from a bank’s perspective a banker, job in addition to growing the economy, thereby motivation is necessary for bank employees for effective management.

The effect of motivation incentive on bank employees was established by the banking institution to reset the Nigerian banking industry on a healthy course of reconstruction growth and development.

It, however, known that by 1982 the banking industry had not in the development and growth tracked, the industry (banking industry) had fallen drastically from its peak, due to a lack of capacity to embark on such bold policy which goes beyond executive certain cosmetics aspect of the problems, and motivation on the employee will bring about setting the problem and make banking business to be effective and efficient.

BACKGROUND OF THE STUDY

Every organization whether profit-oriented or not establish its purpose goals and objectives which transpires into a mission statement.

These of course are only accomplished by the efficient and effective management of its human material and financial sources.

However, the most dynamic and complex to manage is its human resources (people) due to essential differences individual behavior and attitude as expressed in the work environment.

Work environment behavior differences between and with individuals are produced by physical differences, mental capabilities, life experience, culture, perception of a situation, age, sex, level of education, skills exposure, traits, abilities, energy level, family responsibilities, the present standard of living, other available income, financial status years with the employee, years on the job, working experience and lastly level of job in the organizational hierarchy among others.

On law about human behavior that we can be certain about is that all people are different, it is on knowledge of these behavioral differences in the workplace (environment) that this research intended to delve into the influences that stimulate behaviors towards high performance for productivity in achieving organizational goals termed motivation.

Motivation is a general concept appreciated by many successful organizations and implemented for the overall benefit of the organizations.

The Nigerian banking industry is not an exception. The industry has undergone remarkable changes over the years, in terms of the number of institutions, ownership, structure, capitalization, as well as depth and breadth of operations. These changes have been influenced largely by challenges posed by deregulation of the financial sector globalization of operations, technological innovations, and adoption of supervisory and prudential requirements that conform to international standards.

As of January 2006, only 25 banks were remaining from 89 deposit money banks operating in the country, due to consolidation.

It becomes imperative, that if banks must continue to service and be in operation, they must bruce up to the imminent challenges of the industry and remain competitive in the marketplace. This can be achieved through the motivation of employees to higher performance and great productivity.

This research examines the effect of motivation incentives on bank employees with a special focus on the United Bank for African Plc (UBA).

OBJECTIVES OF THE STUDY

This research was propelled by the need to improve performance and increase employee productivity in the work environment therefore the objectives of this study include among others the following:

To identify the degree of importance of employees in the achievement of organizational objectives.

To identify the factors responsible for the higher performance by employees in the past.

To identify the element responsible for employees present low performance.

To understand and appreciate the need of employees as individuals and as a group.

To identify the role of managers and their influence on bank employees.

To improve employees’ performance and increase their productivity through motivation.

To improve the overall results of the organization in terms of performance.

SCOPE AND LIMITATION OF THE STUDY

Considering the largeness of banks in the Nigerian banking industry, the research study is limited to the united bank for Africa plc concerning their branch in Kaduna along Yakubu Gowon way which shall cover the Nigerian Economic and the period is within 2007-2010.

DEFINITION OF TERMS

Several terms or major concepts are defined here as they are applied to the study for proper understanding of this work. This includes:

BANKING INDUSTRY: – A collection of banks usually in the same category charged with the responsibility of carrying out financial intermediation.

BANK EMPLOYEE: – A person who works for a bank in return for a salary.

ENVIRONMENT: – It describes the conditions, circumstances, etc affecting employees in the workplace.

PRODUCTIVITY: – All of the things that cause or influence motivation in employees.

MANAGER: – People who combine business resources in an efficient manner that maximizes output.

OBJECTIVES: – These are the drivers which determine the nature of the input. The series of activities to achieve outputs and the realization of organizational goals.

PERFORMANCE:- It refers to the degree, of success, or failure of activity of operation

PRODUCTIVITY: – this refers to efficiency measured by comparing the result attainted with the time and or the resources used to achieve the result.