THE EFFECT OF MOTIVATION INCENTIVE ON BANK EMPLOYEE
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THE EFFECT OF MOTIVATION INCENTIVE ON BANK EMPLOYEE
1.0 INTRODUCTION TO CHAPTER ONE OF THE EFFECT OF MOTIVATION INCENTIVE ON BANK EMPLOYEES
Bank motivation Employee was established by the organisation (bank) with the goal of resetting the healthy course of reconstruction growth and development of the organisation (bank).
This research is set to understand how high level of employee engagement incentive to reward good work, which is a tried and tested way of boosting staff morale.
However, from a banker’s standpoint, in addition to economic growth, motivation is required for bank employees for good management.
The financial institution established the influence of motivation incentive on bank employees with the goal of resetting the Nigeria banking industry on a healthy track of reconstruction, expansion, and development.
It is known, however, that by 1982, the banking industry had not been in the development and growth track, and the industry (banking industry) had fallen dramatically from its peak,
due to a lack of capacity to embark on such bold policy that goes beyond executive certain cosmetics aspect of the problems, and motivation on the employee will bring about setting the problem and making banking business to be effective and efficient.
1.1 BACKGROUND OF THE STUDY
Every organisation, whether for profit or not, has its purpose, goals, and objectives, which become the mission statement.
These, of course, can only be achieved through efficient and effective administration of its people and financial resources.
However, due to intrinsic differences in individual behaviour and attitude as manifested in the work environment, its human resources (people) are the most dynamic and complex to manage.
Differences in work environment behaviour between and among individuals are caused 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,
current standard of living, other available income, financial status, years with employee, years on job, working experience, and, finally, job level in organisational hierarchy, among other factors.
The only law about human behaviour that we can be certain of is that all people are different; it is through knowledge of these behavioural differences in the workplace (environment) that this research aimed to delve into the influences that stimulate behaviours towards high performance for productivity in achieving organisational goals, which is referred to as motivation.
Motivation is a general idea that many successful firms recognise and use for their overall advantage.
Nigeria’s banking business is no exception. The industry has changed dramatically over the years, in terms of the number of institutions, ownership, structure, capitalization, and the breadth and depth of activities.
These changes have been substantially impacted by the challenges offered by financial sector deregulation, globalisation of operations, technology innovations, and the implementation of supervisory and prudential rules that comply to international norms.
Due to consolidation, just 25 of the country’s 89 deposit money banks remained in operation in January 2006.
If banks are to continue to service and operate, they must brace up to the industry’s impending challenges and remain competitive in the market arena. This can be accomplished through motivating people to reach higher levels of performance and productivity.
This study looks at the impact of motivational incentives on bank employees, with a particular focus on United Bank for African Plc (UBA).
1.2 OBJECTIVES OF THE STUDY
Because of the need to improve performance and increase employee productivity in the workplace, the objectives of this study include, among other things, the following:
i) Determine the extent to which personnel contribute to the attainment of organisational goals.
ii) To find the factors that have resulted in higher performance by employees in the past.
iii) Determine the factor responsible for the employee’s poor performance.
iv) Recognise and value the needs of employees as individuals and as a group.
v) Determine the role of managers and their influence on bank staff.
vi) By motivating employees, you can improve their performance and productivity.
vii) To improve the overall performance results of the organisation.
1.3 SCOPE AND LIMITATIONS THE STUDY
Given the enormous number of banks in the Nigerian banking market, the research study is limited to United Bank for Africa plc and their branch in Kaduna along Yakubu Gowon way, covering the Nigerian economy from 2007 to 2010.
1.4 DEFINITION OF TERM
For full understanding of this work, a number of words or important concepts are defined below as they apply to the study. This includes the following:
BANKING INDUSTRY: – A grouping of banks, usually of the same type, charged with carrying out financial intermediation.
1. BANK EMPLOYEE: A person who works for a bank in exchange for a wage.
2. ENVIRONMENT: It explains the conditions, circumstances, and so on that affect personnel in the workplace.
3. PRODUCTIVITY: – Everything that drives or influences employee motivation.
4. MANAGER: – Individuals who efficiently combine corporate resources to maximise production.
5. OBJECTIVES: These are the factors that influence the nature of input. A series of operations designed to produce outputs and meet organisational goals.
6. PERFORMANCE:- It refers to the degree of success or failure of an operation’s activity.
7. PRODUCTIVITY: This refers to efficiency as assessed by comparing the outcome with the time and/or resources utilised to produce the outcome.
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