MOTIVATION OF BANK WORKERS FOR HIGHER PRODUCTIVITY IN BANKING SECTOR
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MOTIVATION OF BANK WORKERS FOR HIGHER PRODUCTIVITY IN BANKING SECTOR
ABSTRACT
The recent fall in the fortunes of most businesses in Nigeria has been linked to a variety of factors such as global recession, inflation, fluctuation in the value of the naira, and so on.
Poor Motivation may show a visible lack of enthusiasm in the work through a nonchalant approach towards items that would have aided the banks’ torment.
The purpose of this research is to discover how the banking industry overcomes its manpower motivation problem in order to sustain high Productivity and performance levels.
The study’s population consisted of one hundred and twenty (120) employees from the Union Bank of Nigeria PLC Okpara Avenue in Enugu. During the research, 55 questionnaires were distributed, and all of them were returned.
Four (4) research questions were employed in this study, with three (3) hypotheses expressed. Bank worker motivation will assure improved productivity in the banking sector. Lack of proper motivation will result in inefficiency and low productivity,
and training course utilisation as an incentive for good performance of employees will result in higher productivity in banks. The questionnaire technique and interview library sources were utilised in the study method, basic percentage and bar chart were used in presenting the data and analysing the data, and the chi-square (x2) test was applied.
The study’s main finding was that Union Bank, Okpara Avenue, Enugu has an effective and efficient motivator system, which has resulted in excellent performance and productivity rates for the bank.
My recommendation is that banks should be motivating their employees because of the sensitive nature of banks and the work hazards involved in financial institutions.
Employee pay should never be messed with in the current condition unless the authority conducts an upward evaluation of this.
Suggestion for additional research “the impact of training on computer system development as a motivational tool in the banking industry”
INTRODUCTION TO CHAPTER ONE
1.1BACKGROUND TO THE STUDY
The researcher is interested in the Union Bank, formerly known as Barclay’s Bank, which was a product of Nigeria’s post-independence indignation process as part of the abortive banking boom and crash in the late 1940s and early 1950s, which was triggered off by the establishment of the CBN and the era of the free bank period.
During this time, the Barclay’s bank established its dominance over rivals. Despite the fact that many subsequent failures occurred, such as the industrial and commercial bank, the Nigeria merchandising bank, and so on.
Today, Union Bank Plc has emerged as the banking sector’s leader in Nigeria, with both the largest number of shareholders and the largest asset base. Even in the face of an unfavourable business environment and stringent policies, the bank has defined itself to be in the forefront of both the new generation bank and its contemporaries.
Why are there so many success stories? It is true that there must have been a product alternative motivation aspect; nevertheless, why is the bank not as badly affected as others with regular staff management conflict motivation as the root?
1.2 STATEMENT OF THE PROBLEM
The study is focused with the motivation of bank employees to increase productivity in the banking industry. Employee motivation is critical for the operation of any organisation, particularly the Nigeria banking sector. The majority of the banking sector’s leaders lack the ability to attract and retain skilled managers and consumers.
The recent year has seen a near-collapse of this industry, with many banks in crisis and liquidation, while others have managed to survive.
The fact remains, therefore, that the banking sector and other matter-making organisations in federal, no matter how sophistically well-designed their buildings are, are still built on the efficiency of available human resources and actual input,
which has its roots in internal forces developed by that makes the human resources in the organisation and the bank in particular. It is consequently necessary for this group’s involvement and attention for these instruments to perform effectively.
Given the foregoing, the importance of a dedicated and low-cost workforce for increased productivity cannot be overstated. My belief remains that this is a product of employee motivation. Poor motivation may manifest as a lack of interest in the work through a nonchalant attitude towards things that would have aided the bank’s fortunes.
1.3 GOAL OF STUDY
The primary goal of any organisation is to increase production while maximising profit. This, however, cannot be accomplished without sufficient incentive on the actual tools used to inform motivation itself.
This research project is intended to accomplish the following goals:
1. To determine the extent to which motivation may be used as a tool to increase work productivity in the banking sector, with a focus on Union Bank Plc Okpara Avenue in Enugu.
2. To determine how a lack of sufficient motivation leads to inefficiency and low output.
3. Determine whether fringe benefits can be used to increase productivity in the banking industry.
4. Determine how the bank provides training facility allowance to their employees.
5. Determine whether the customer-staff-management connection has any impact on worker job performance in the bank.
1.4 THE RESEARCH QUESTION
This study work attempted to provide an answer to the following critical question:
1. What is the actual impact of bad or proper motivation as an instrument in boosting worker productivity in the banking sector?
2. Does a lack of sufficient motivation lead to inefficiency and low productivity?
3. Does the fringe benefit serve as an instrument for increased productivity in banks?
4. Can the training course be used as an idea for high performance of workers, resulting in higher production in banks?
1.5 RESEARCH HYPOTHESIS
The following hypotheses are to be proven in this study work:
I. HYPOTHESIS
Ho: Employee motivation will not assure good banking productivity.
sector.
Hi: Bank employee motivation will ensure great banking productivity.
sector.
HYPOTHESIS NO. 2
Ho: A lack of sufficient motivation will not result in inefficiency and bad performance.
productivity
Hi: Inefficiency and low productivity will result from a lack of sufficient motivation.
Productivity
HYPOTHESIS 3HO: Training courses will be used as an incentive for staff performance.
increased employee performance will result in increased bank production.
Hi: The utilisation of a training course as an incentive for employee performance will not work.
increased employee performance will result in increased bank production.
1.6 THE SIGNIFICANCE OF THE STUDY
This research aims to make recommendations on the best workers productivity in an organisation and Union Bank Plc, Okpara Avenue, and how it can be enhanced after a detailed assessment of the nature of the incentive that best appeals to labour employees in this period.
It is hoped that the results of this study would help banks in their operations by allowing them to implement appropriate incentive schemes and other motivator variables that will optimise the productivity and performance of their operations.
The completed study will identify the motivation factor and incentive variables, if any, that are currently militating again in the area of its job performance and productivity that the bank finds useful for future planning.
This work will be of great assistance to the Union Bank Plc or other banks as it will enable them to restructure the aspirations and needs of their workers.
It will also be of great importance to other organisations or other financial institutions because it will enable them to restructure the aspirations and needs of their workers.
This research is intended to serve as a working tool for those whose interests are undulated in ensuring increased productivity, as well as to assist the study who wishes to do a similar study in his firm.
1.7 DEFINITION OF TERMINOLOGY
1. BANKING: This 1952 banking law defined banking as the business of taking money from the public on current account that is to be repaid on demand by check and making advances to customers.
2. BANK WORKERS: According to the Oxford Advanced Learner’s Dictionary, a bank worker is someone who owns a bank or works in a prominent position at a bank.
3. MOTIVATION: Nwankwo G.O described motivation as what directs behaviour towards meeting a need.
4. INCENTIVE: According to the Oxford Advanced Learners Dictionary, an incentive is something that encourages employees to go above and beyond in their work.
5. PERFORMANCE: Is there a remarkable action achievement?
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