IMPACT OF MOTIVATION ON STAFF PERFORMANCE IN THE BANKING INDUSTRY IN NIGERIA
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IMPACT OF MOTIVATION ON STAFF PERFORMANCE IN THE BANKING INDUSTRY IN NIGERIA
This study investigated the effect of employee motivation on performance in the Nigerian banking sector. Important research questions were posed in the course of conducting this investigation. The author tried to dictate the topic of the study by reviewing pertinent literature.
The researcher employed descriptive designing for the project layout for responding to data on the respondents’ responses, which were then examined using a straightforward table.
One of the findings demonstrated that employees join organisations in order to advance professionally, receive bonuses, and support the expansion of the company.
The management should work hard to give promotions to the employees when they are due, and again, the staff’s wage should be increased to stimulate staff performance in the banking business, according to some recommendations based on these findings.
Introduction to Chapter One of the book entitled “Impact of Motivation on Staff Performance in the Banking Industry in Nigeria”
1.1 BACKGROUND OF THE STUDY
Lack of worker desire to raise standards in their organisations is one of the fundamental issues affecting motivation on staff performance in the banking business in Nigeria. To achieve the goals and objectives of the organisation, management expects and motivates personnel to give their all.
It is obvious that people are the centre of any organisation, which is why most management places a greater emphasis on motivation.
As a result, motivational programming produced circumstances that motivate employees to meet their needs while also achieving organisational goals.
Management creates needs, either genuine or manufactured, to inspire employees. A genuine need might be planned to be met by a promotion, a pay rise, more employment opportunities, an increase in organisational support, new furniture, etc.
The study of human reasons, needs, wants, and behaviour is the starting point for the research of motivation. Motivation is that energising force that induces and maintains behaviour and motivates individuals to work in order to accomplish the organisational goals.
This research looks at various forms of employee motivation, steps to keep them engaged, and the links between employee performance and the state of the banking sector.
However, this project does not assert that it is the best treatment of the project “motivation on staff performance as a tool for improving the staff performance in the banking industry in Nigeria”.
1.2 STATEMENT OF THE PROBLEM
Serious evasion issues have been created by the persistent threats to personal safety and the regular time management staff disagreements on grievance handling in financial institutions.
Frequent service interruptions to the macro landscape as a result of outright lock-out and sit-down sterile action have a negative impact on these institutions and the economy of the country as a whole.
This phenomena can be linked to the labour management relationship rules’ incapacity to offer helpful grievance resolution methods or efficient tools for staff or employee performance management.
United Bank for Africa PLC, a top bank in its sector, is not exempt. Therefore, it is believed that this institution’s management–employee interaction and each party’s position on labour laws in the banking industry are the root of the problem. Any organization’s expansion in terms of size and capital needs are dependent on the demand for its products and services.
The extent to which labour policies and motivational factors contribute to ensuring industrial harmony and boosting productivity has been added to the major tool for staff behaviour towards the achievement of the organisational goals and objectives. As a result, the organisation cannot thrive in a toxic working environment. This is a problem that needs to be investigated.
1.3.1 RESEARCH QUESTIONS
What effects does employee motivation have on the Nigerian banking sector’s personnel performance?
How frequently does the management of your company do employee training and development sessions?
Do you have an open door policy at your company?
What kind of reward will the personnel in your organisations find most appealing?
How frequently does the management offer this incentive?
Does communication exist between management and employees?
Do you participate in decision-making?
1.4 OBJECTIVES OF THE STUDY
Every organisation with a certain focus should understand how important their staff members are.
Understanding people’s motivations and having the power to influence them to act in a certain way are two linked skills that are crucial to good management.
Individuals or groups of individuals who provide services in the banking sector have varying demands, skills, qualifications, and behaviours.
Due to these differences, it is up to the organisation to recognise the diverse needs of people and find out what makes them happy and fulfilled so that they can work as hard as they can to fulfil the goals and objectives of the organisation.
However, understanding motivation theory provides a framework for making generalisations and for examining different motivational issues.
The purpose of this study is to highlight the significance of motivation and determine how effectively an organisation motivates its employees.
The goal of this study is to define motivation, analyse its significance to management, and aid management in understanding its crucial role in achieving organisational goals.
The reader will also benefit from having a better understanding of human nature, how people behave at work, and ways for inspiring employees to perform at their best.
1.5 SIGNIFICANCE OF THE STUDY
The establishment of United Bank for Africa PLC served to safeguard and advance the nation’s industrial development, commercial activity, and health.
The project aims to highlight the issues and project of employee motivation on performance as a tool for enhancing employee performances in Nigeria’s banking sector.
1.5 SCOPE AND LIMITATIONS OF THE STUDY
This study examines the relationship between employee performance and motivation in Nigeria’s banking sector, with a focus on Nasarawa Branch in Nasarawa Local Government Area, Nasarawa State.
Due to time restrictions, this study will be severely constrained in its ability to interview a larger cross-section of personnel.
The cost of the study is another limitation factor; in order to get the necessary information for the project, the research team had to visit United Bank for Africa PLC multiple times. Additionally, money must be spent on buying supplies, typing, and binding the project.
Although the questions are clear and generally understandable, there is no guarantee that all responders will provide the desired information. This is another obvious constraint.
This uncertainty will limit the study’s desired objectives.
1.7.1 RESEARCH HYPOTHESIS
Before beginning a research project, a hypothesis is a fundamental assumption that will either be accepted or rejected at the conclusion of the activity. At the conclusion of the study, the accepted or rejected. The following is the hypothesis that the researcher has put out.
HO: Companies achieve their goals, but employees lack sufficient motivation.
Hi: Companies do not achieve their goals because employees are not sufficiently motivated.
HO: For that distinct group of employees to perform their work effectively and efficiently, they require a similar level of motivation.
Hi: For that distinct group of employees to perform their duties effectively and efficiently, they require a similar level of motivation.
1.8 DEFINITION OF TERMS
Management is the coordination of human and material resources via the processes of planning, organising, directing, and controlling in order to accomplish organisational goals, according to Corkery (1994).
MOTIVATION: According to “Abraham H. Mashow” (1943), motivation is the act of boosting a staff member’s moral in the direction of productivity.
NEED: According to “Lionel Robinson” (1978), needs are desires that are satisfied in order to serve a beneficial function.
GOAL: According to “Moony” (1999), goals are the accomplishment of aims and objectives and the conclusion of an organisation.
BEHAVIOUR: “Fredric Taylor” described behaviour as a way of acting, speaking, or treating someone else, or as the belief that all human behaviour could be explained by information that can be broken down into stimuli and responses.
A “Humphrey” definition of an incentive is something that motivates someone to take action.
BANK: A financial organisation where cash and other valuable items are stored for security is what “Robert” identified as a bank.
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