ABSTRACT
The introduction of universal banking law has brought changes over the years, with it stiff competition in the banking industry. Commercial banks are no exception to the modern changes in ensuring staff motivation towards their organizational goals. The study seeks to assess the motivation in the banking industry at Ecobank Nigeria. The survey research design was used for the study. The study revealed that, management can make use of different strategies and policies to motivate employees in the banking environment. Employees are interested in enhanced salaries, fringed benefits, promotion, and car loans as motivating elements sufficient to push employees of the bank to give out their best. The research also revealed that the core duty of the bank is normally carried out by branch Staff who as such motivational packages should be geared towards them to ensure that they delight the customers. Promotion has been a worry to most staff; measures should be put in place by management to ensure that there is continuity in the promotion of staff to avoid low productivity in terms of deposit mobilization. The study revealed that if management withdrew motivational packages it will have serious repercussions on employees‟ performance. There was a positive relation between employee performance and corporate performance since employees were able to achieve the bank’s performance indicators in terms of deposits, loan recovery, profitability and also ensuring the liquidity of the banks. The conduciveness of the office environment has first time impression on the customers and the welfare of the employees.
TABLE OF CONTENT
Abstract
Table of content
List of tables
List of figures
CHAPTER ONE
GENERAL INTRODUCTION
1.1 Background of the study
1.2 Statement of problem
1.3 Research Questions
1.4 Objectives of the study
1.5 Significance of the study
1.6 Scope of the study
1.7 limitation of the study
1.8 Organization of the study
CHAPTER TWO
LITERATURE REVIEW AND THEORITICAL FRAMEWORK
2.1 Introduction
2.2 The Concept of Motivation
2.2.1 Advantages of Motivation
2.2.2 Importance of Motivation
2.3 Forms of Motivation
2.3.1 Reward and Reinforcement
2.3.2 Intrinsic and Extrinsic Motivation
2.3.3 Coercion
2.3.4 Self-control
2.4 Theories of Motivation
2.4.1 Maslow’s Needs Hierarchy Theory
2.4.2 Herzberg’s Two-Factor Theory
2.4.3 Vroom’s Valence x Expectancy theory
2.4.4 Goal-Setting Theory
2.4.5 Theory of “X” and Theory of “Y”
2.4.6 Reinforcement Theory
2.4.7 Equity theory
2.4.8 Acquired-Needs Theory of David McClelland’s Acquired Needs Theory
2.5 Motivations in the Nigerian Banking Industry
CHAPTER THREE
RESEARCH METHODOLOGY AND ORGANIZATIONAL PROFILE
3.1 Introduction
3.2 Research Design
3.3 Population, Sample Size and Sampling Techniques for the Study
3.4 Data for the Study
3.5 Data Analysis and Presentation
3.6 Organizational Structure of Ecobank Nigeria Limited
CHAPTER FOUR
ANALYSIS, FINDINGS AND DISCUSSION OF DATA
4.1 Introduction
4.2 Profile of Respondents
4.2.1: Gender of Respondents
4.2.2 The Designation of employees of Ecobank Nigeria Limited, Sokoto
4.2.3: The Core Duties of respondents at Ecobank Nigeria Limited, Sokoto
4.2.4: Years Respondents have been working Ecobank Nigeria Limited, Sokoto
4.3 Motivational Packages for Staff at Ecobank Nigeria Limited
4.3.1 Kinds of Motivational Packages for respondents of Ecobank Nigeria Limited
4.3.2 Conducive of Office Environment to enhance Work Output
4.4 Effects of Motivational Package on Employee Performance
4.5 Effect of packages on Ecobank Nigeria Limited Performance
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Introduction
5.2 Summary
5.3 Conclusion
5.4 Recommendations
REFERENCE
APPENDIX
CHAPTER ONE
GENERAL INTRODUCTION
1.1 Background of the Study
Even with the best strategy in place and appropriate organizational architecture, an organization will be effective only if it members are motivated to perform at a high level. The types of motivation are intrinsic and extrinsic. “Intrinsic motivation is a psychological force that determines the direction of a person’s behaviour as a result of challenging or interesting work, giving autonomy to work, designed scope to develop skills, abilities, opportunity to develop and grow, etc. Extrinsic is also psychological force that determines behavioral change as a result of tangible and intangible benefit such as salary, fringe benefit and special awards” (Jones and George, 2003).
It is a fact that success in every organization depends on the quality of its human resources both skilled and unskilled labour which is perhaps the most intangible aspect of the organization, hence the most important. All these things plants, machinery and financing cannot generate income without manpower. Studies have shown that in today’s competitive business environment, success is increasingly a function of effective human resources management (Ahindo, 2008). It is therefore necessary to have a workforce that is motivated to yield high performance and productivity towards achieving the organizational goals and objectives.
It is one of the driving forces that have direct impact on the business productivity. The critical workforce management challenges of the immediate future driven by corporate reengineering and restructuring efforts, loyalty concerns and fierce competition for key talents are closely linked to the emerging issues of employees’ commitment and productivity.
The role of management therefore in all these is paramount. A transparent style of administration is what is required since it is one of the surest ways to motivate staff. This is because management plays significant and unique role in terms of leadership drive and direction. This role can be considerably a kind of catalyst, able to tap and awaken each employee’s unique talents and convert them to performance. However, it is only through varied organizational strategies that a manager will be able to trigger his/ her employee’s hidden talents which are highly important in the productivity and performance of the organization. These strategies can be external and internal to employees and one of these strategies employed by managers is motivation....
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