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MOTIVATING THE WORKFORCE FOR GREATER PRODUCTIVITY IN THE BANKING SECTOR OF THE ECONOMY IN THE 21ST CENTURY

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MOTIVATING THE WORKFORCE FOR GREATER PRODUCTIVITY IN THE BANKING SECTOR OF THE ECONOMY IN THE 21ST CENTURY

 

ABSTRACT

 

This study basically examined motivating the workforce for greater productivity

in the Banking sector of the economy in the 21st century. (A case study of Zenith Bank International Plc Asaba). In X-raying the subject matter, the study made use of both primary and secondary data; the primary data were obtained from employees of the Zenith Bank International Plc Asaba. Via the answers they provided to the questionnaires administered to them, fifty (50) questionnaires were administered and the end fourth five (45) was retrieved which was used for the analysis, why the secondary data were obtained from publications related to the topic, also, hypotheses were formulated to determine the significant relationship between motivational factor and work productivity for experience staff of Zenith Bank International Plc Asaba at the end of the hypotheses test it was evident that there is a significant relationship between motivational factor and work productivity for experienced staff of Zenith Bank International Plc Asaba, in testing the hypotheses the chi-square statistics techniques (X2) was employed at 0.05 level of significance. After a comprehensive analysis, it was obvious that Zenith Bank International Plc Asaba is financially healthy and ranks among the best five in the country, it also has a rich and enviable track record of employee motivation, this explains why many regards it as the number one in the banking industry. Key recommendations were equally made to the management of the bank, which if adopted may catapult them to the next level. Conclusively, the findings of this study proved beyond doubt that motivating the workforce for greater productivity in the banking sector of the economy in the 21st century

highly have the significant relationship on motivational performances, therefore, without any bins in the absences of motivation, a Bank or company maybe likened to blind man that do not see what lies ahead of him or an individual without a direction or a ship without a captain. During the course of this study, it was crystal clear that motivating the workforce for greater productivity in the Banking sector of the economy in the 21st century uphold in regulating the relationship between the employee and his staff.

 

TABLE OF CONTENTS

Title page

Approval Page

Certification

Dedication

Acknowledgements

Abstract

Table of Contents

CHAPTER ONE

1.0     Introduction

1.1     Background of the Study

1.2     Statement of Problem

1.3     Purpose of Study/Objective Of Study

1.4     Research Question

1.5     Hypotheses

1.6     Significant Of Study

1.7       Scope of Study

1.8       Operational Definition Of Terms.

References

CHAPTER TWO

2.0     Review Of Related Literature

2.1       Introduction

2.2       Theoretical Framework

2.3       The Evolution of Motivation Concepts

2.4     Origin of the Word Motivation

2.5     Process Theories of Motivation

2.6     Need Theories

2.7     Abraham Maslow Theory

2.7.2 Alderfers Modified Need Iderarchy Theory-Clay

2.7.3   Herzberg And Ids Two Factor Theory

2.8     Mccelland’s Achievement Motivation Theory

2.9       Workers Morale, Attitude And Job Satisfaction In

Relation To Motivation.

References

CHAPTER THREE

3.0       Research Methodology

3.1       Introduction

References

CHAPTER FOUR

4.0     Data Presentation and Analysis

4.1     Introduction

CHAPTER FIVE

5.0     Discussion, Conclusion and Recommendations

5.1     Discussion of Findings

5.2     Conclusion

5.3     Recommendations

Bibliography

Appendix

 

CHAPTER ONE

1.0     INTRODUCTION

Although there is general agreement among psychologists that man

experience a variety of needs, there is considerable disagreement as to what

these needs are and their relative importance.

There have been a number of attempts to present models of motivation

which list a specific number of motivating needs, with the implication that these lists are all-inclusive and represent the total picture of needs, unfortunately, each of these models has weaknesses and gap and we are still without a general theory of motivation.

All organization are concerned with what should be alone to achieve

sustained high level of performance through people. Consequently the subject

of adequate motivation of workers as derived from the so many attempts made

by management practitioner is to look for the best way to manage so as to

accomplish an objective or mission with the least inputs of material and human resources available.

 

A lot of theoretical concept principles and techniques of management

have evolved in response to these challenges. In general management authors

have tended to view motivation as a key component of the managerial function

of leading or directing. However, leading or leadership style, although an

important factor in determining the attitude of employers towards assigned job

responsibilities is not the only determinant other managerial function such as

planning, controlling, staffing and organization also playa role.

In any serious and competitive society workers are one of the tools for

economics progress. Their welfare is taken into serious consideration because

without a dedicated workforce an organization crumbles. The nations

(Nigerian) reward system is probably the poorest in the entire global were an

average take home of the worker is put at N35 per month. Workers are used and

abused, harassed, treated, offended and discarded without any appreciation for

their contribution to their organization and to the society at large.

It is therefore apparent that the issue of adequate motivation of worker

has relevance in managerial function and activities that are aimed at directing the productive effort of the worker force toward achieving organizational

objectives. Knotz et at (1980) holds that management strive to create and

maintain an environment that is conducive to the performance of individual

who are working together in groups towards the accomplishment of pre-

selected objectives workers in organization work in-progress and group

dynamics often result in the conflict of goals between individuals and other

groups.

Conversely motivation according to strauss and sayles, can be provided

for workers, using the following methods

 

(1)

 

The traditional approach,

 

(2)

 

Human relation approach.

 

(3)

 

Implicit bargaining.

 

(4)

 

Competition

 

(5)

 

Internalized motivation

 

(1)     The traditional approach to motivate which is often referred to as the

economic man model assumes the following.

 

(a)     The only reason why people work: is to earn money and that they will work only if driven to it by fear of losing their job.

 

(b)     Since no one like to work, people will try to get away with doing as  little as they can, management must tell every worker exactly what to do, spell out every rule and give the worker the narrowest possible range for description

 

(2)     The human relation approach: this emphasizes motivation basically

through satisfying the workers security and benefits that provide some

protection against illness old age and unemployment. The social need for

belonging should be met by various recreational activities and be the

development of strong cohesive work groups.

(3)     Approach to motivation is the implicit bargaining when using this

approach, management encourages workers to do a reasonable amount of work by agreeing to be more flexible in terms of supervision.

These bargaining are usually a matter of implicit unspoken understanding.

(4)     The fourth approach to motivation is around competition for the pay increases and promotion that accompany outstanding work. This is important because it helps the worker to satisfy various forms of need satisfaction, some of these include a sense of accomplishment, and added social prestige.

(5)     The last of the approaches under consideration is internalized motivation this deals with providing opportunities for need satisfaction through doing the job itself.

This approach uses Herzberge’s motivators, which means that management should create conditions under which workers will willingly and voluntarily work towards organization objective because they enjoy the work.

Economic motivation is de-emphasized and more stress is put on age mode. These methods according to status and styles can either be used alone or in combination. It is further stated that usually most manager uses a combination of all five methods. It is important to consider the issue of motivation in organization because of the interleave desire of people to pursue their own personal aspirations while the organizational objective are being met.

Certain problems of inadequate motivation however do arise as it concerns certain individual who come into the work situation with difference in

expectation, behaviour and outlook. These problems of individual motivation

inadequately may be divided into two categories?

Firstly, the inability of certain individual to be motivated may stem from

the fact that there is inefficiency in their personality for such people the design

to avoid failure may be too strong while paradoxically. The motive to produce

positive results may be too weak. This could produce general resistances to

achievement oriented activity that should naturally be overcome by other

extrinsic modes of motivation if there is to be any spin to achievement oriented

activity at all.

Secondly, even when the achievement motive is relatively strong the

challenge before the individual worker may be prove to be inadequate or too

difficult which ever of these that apply to the individual worker will usually

manifest themselves in different ways such as lack of enthusiasm or premature

surrender.

Bryans and Crouin canted that effective group functioning depends on

the development of supportive relationship. This is important because it makes

provisions for different views to be put forward and carefully studied, thus

mentioning the development of conflicts, which could be destructive to the

establishment. Bryan and Crouin further stated that discussion, collective

problem solving and decision making could all benefit from a genuinely

supportive atmosphere.

This is because the individual could derive a sense of acceptance from

being a member of the establishment. This could serve as a powerful motivating

force in influencing his behaviour towards other member of the establishment.

At the base of all these, is the issue of individual differences which go a long

way to determine the extent to which an individual is motivated, some of the

factors which are responsible for individual include genetic make up, up bringing and current influences.

In spite of this entire apparent attendant, problems of motivation and productivity, every organization do necessarily seek means of ensuring continued productivity, which will be geared towards the accomplishment of

organizational goals. The organizational system under study can not be said to

be different in any way in terms of producing the result for which it was setup.

In all these processes, the private and indeed corporate organization business

has thus helped to make Nigeria the country it is today.

Motivation also finds relevance in the behavioral sciences especially in

psychology where attempts are made to find out the what, when, how and who

of human behaviour. Nigeria authors, Gbadamosi and Adegbakin, (1996) posit

that motivation is an aspect of the sciences that attempt to answer the question

as to why human beings behave the way they do.

This study will also examine to what extents the economic factors such as achievement, job security, recognition, advancements, job enrichment, or the

job itself, responsibility, decisional participation and managerial style are

needed to raise the morals of the workers for high productivity. These factors

are referred to in this work as non-economic motivators in the sense that their

incentive power is not necessarily derived from money.

It is often said that one of the key problem in private organization is not

that the workers lack motivation but the managers’ lacks the ability to nurture

  1. Adequate motivation (high moral), leadership style and the success of an

organization are closely intertwined.

The good leader is who is able to motivate his workers to maximum production and efficiency. A man however only gives what he has. To be able to motivate, a leader must know what a motivator and how to use it. I believe

that pay package and fringe benefits are taken for granted and do not serve as primary motivators. On the other hand, certain factors, which contribute to human dignity, may not entail any monetary gain but to the individual may mean much and when they are present may create a very good and healthy atmosphere to induce adequate motivation but when they are absent the result is frustration and de-motivation.

The study identifies these elements that promotes dignity and thus raise the moral of the worker for higher productivity. The study further investigates the effect of these factors were referred to as “non-economics motivators on the workers and the consequent output of Zenith Bank International Plc Ababa.

For the purpose of these study then, non-economic motivators is used to

refer to those factors which are not necessarily computable in monetary term

but which, drive human mind from within to behave in a desired way and to maximum realization of the organizational objectives while adequate

motivation is simply defined as contentment, fulfillment or job satisfaction. I

should perhaps explain that the title “the implication of adequate motivation of

workers productivity” is my own compare, which may be likened to Herzberg

hygiene factors.

Herzberg had concluded from his studies that achievement, recognition,

the work itself, responsibility, advancement and growth are major satisfiers

because their positive influences is far more frequently an element in

satisfaction than their negative effect an element in dissatisfaction more recent

studies have advanced on Herzberg’s position.

While there are studies to support Herzberg’s list of satisfiers in his

sequence there are questions as to the position or order of these satisfiers.

All these studies however, have been carried out in the developed light

industrialized societies. It is therefore not certain whether the findings can be applied to the Nigeria situation.

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