Identify Effective Motivational Techniques That Could Increase Worker Performance Business Essay

In resent times, professionals and management researcher have reaffirm long-term believe organisational goals are unattainable minus the enduring commitment of people of the organisation. It has been said that the workforce remains the most critical productive advantage of any organisation. It is the human element that gives way and dynamism to the company.

In truth, an organisation can only just expand to the magnitude permitted by the voluntary and creative software of the abilities and expertise of its labor force. It is for this reason that the search for ways and means of motivating the workforce for best organisational performance has more or less remained a cardinal concern of management since the birth of industrial civilization.

Today, just as the early times of organisational history, professionals often ask some fundamental questions: what can we do to motivate our workforce? What's the purpose of motivation? As many still ignore the proven fact that no organisation can survive without its staff, and the workers themselves cannot be successful if their needs aren't met.

Freeman (1998), mentioned that organisations, emphasized upsurge in productivity without actually taking into consideration the needs of the personnel. They are simply however; ignorant to the fact that organisation cannot survive without its personnel and the personnel themselves can't be beneficial if there needs aren't attained. Aluko, M. A. (2000) asserted that personnel should not be made to are machines and tools whose presence in the organisation is just to execute while emphasis is put on productivity alone without thinking about what will drive the worker to put up his ideal best. Stoner (1998) mentioned that desire is a human psychological characteristic, it includes the factors that cause channel and sustain human being behaviour, motivation deals with "why is people think". Aluko (2000) mentioned that the major motivational factor is money, although we have seen that in Nigeria, money by themselves do not ensure productivity.

Other non-monetary incentives such as price, job advertising, upgrading and progress, job security and recognition go quite a distance to improve the morale of individuals. If personnel needs are satisfied, it could lead to a rise in productivity. However every administrator regardless of the size of the organisation can incorporate determination into the work environment to activate and influence staff.

From the foregoing, since the research of motivation is essential for organisational survival and progress, it is an make an effort by this study to check out the effect of desire as an instrument for increasing staff productivity.

1. 2 STATEMENT OF PROBLEM

Although much has been said and written on determination and staff performance, and the actual fact that the topic has been given increased attention generally in most organisations, it takes extra effort for the personnel to put on optimized performance. Employees and employer have different intentions as regards to contributions every one of these teams bring to the development or goals of the company. Employees are worried with maximizing their purchasing power as the employers are considering lessening cost and obtaining the best value for minimum outlay. Different views have come up in the analysis of motivational results as to whether or not they impact on worker performance and improve production.

In the light of the fore heading the critical job of the research is to recognize effective motivational techniques that can increase worker performance.

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1. 3 RESEARCH QUESTIONS

The research seeks to answer the following:

i. Does motivational techniques have any impact on employee performance?

ii. Does money play a determining role in the perfect performance of an employee?

iii. Is there any difference in the motivational program of today's generation lenders compare to the old technology banks?.

iv. How do the present existing remuneration deals of these finance institutions be increased?

v. Is it possible for an employee to leave his present job if he is offered an increased package?

1. 4 Goals OF THE STUDY

This study intends to:

-To establish the relationship between drive and performance.

- To look at the effect of motivational techniques in increasing employee productivity.

- To recognize the motivational techniques utilized by Union loan provider and Fidelity lender.

- To critically compare their relative impact upon worker productivity and efficiency.

- To make recommendation for even more research.

1. 5 RESEARCH HYPOTHESIS

The following research hypothesis will be analyzed:

H0: There's a relationship between drive and production.

H1: There is no relationship between inspiration and output.

1. 6 Record IN THE ORGANSATIONS

Union loan company of Nigeria plc was set up in 1917 as a colonial bank or investment company using its first branch in Lagos. In 1925 Barclays lender acquired the colonial bank or investment company which resulted in the change of the bank's name to Barclays loan company (Dominion, colonial and abroad). Following the enactment of company's action1968 and the legal requirement for all foreign subsidiaries to be incorporated locally, Barclays loan company (DOC) in 1969 was contained as Barclays loan company of Nigeria limited. The ownership composition of Barclays standard bank continued to be unchanged until 1971 when 8. 33% of the bank's shares were offered to Nigerians. In the same calendar year it was posted on the Nigeria stock market. Due to the Nigerian organization promotion work of 1972, the government of Nigeria attained 51. 67% of the bank's shares which left Barclays lender plc with only 40%. With the enactment of 1972 and 1977, the Nigeria enterprises promotion act Barclays bank international disposed its shareholdings to Nigerians in 1979. To mirror new ownership framework and in conformity with the companies and allied matters take action of 1990 it assumed the name Union loan company of Nigeria plc. Relative to the government program of privatisation and commercialisation of public enterprises, the federal government in 1993 sold its stocks in union loan company to private individuals. Thus union standard bank became fully owned or operated by Nigerian citizens and organisations. Record of company from standard bank website (www. unionbankng. com).

Fidelity loan provider plc began businesses in 1988, as a vendor loan provider. In 1999 it changed into a commercial bank and then became a general bank in February 2001. The current enlarged fidelity loan company is because the merger with the previous FSB international standard bank plc and Manny lender plc (under the Fidelity brand) in Dec 2005.

Fidelity today is positioned amongst the top 10 in the banking industry with presence in major towns and commercial centres of Nigeria. Over the years the bank has been respected for integrity and professionalism. Additionally it is respected for the product quality and stableness of management.

Staffs are also well known in the Nigerian banking industry for the grade of training they acquire face to face as well as in good business school both in Nigeria and overseas. The management is particular about the product quality of men and women that join the system. To meet the requirements as an associate of team Fidelity applicants are expected to posses three essential features: Expertise: an innate mental aptitude, Ambition: a desire to achieve success and Identity: a complete quality of integrity that may guide the expertise and ambition to fruitful ends. Track record of the company from bank's website (www. fidelitybankplc. com)

1. 7 SINGNIFICANCE OF STUDY

This review will be of immense important to different categories of people: specifically individuals, students, organisations and the management of Union bank Nigeria and Fidelity standard bank plc, because by the end of the research work, an in-depth knowledge into determination and exactly how it affects worker performance in workplace settings will be well understood. The research work when achieved will generate ways where the management of Union bank of Nigeria and Fidelity loan provider will reappraise there present motivation package with the purpose of improving employee performance. It might also be useful in identifying, if the employees present performance or output is situated as the result of the present motivational plans being found in the banking institutions or the traditional basic salary components.

It also expects to raise the level of knowledge on the prevailing motivational schemes in the Nigerian banking sector. It'll assist students as a reference materials in their libraries, for students interested in research in this area. It also looks for assistance to other experts who may be interested to analyze more in this area, it terms of literature and compare views.

1. 8 SCOPE AND LIMITATION OF STUDY

This study focuses on the motivational techniques or packages that contain the potential of rousing employees to higher productivity at work. The study intends to pay Union standard bank of Nigeria and Fidelity bank or investment company plc, headquarter of the banks and decided on branches within Lagos metropolis.

Due to the type of the industry there could be problems gathering data, because issues of your bank's output/output are always placed in secrecy and calculating output and productivity are difficult because it is complex. The most common issue of administering questionnaire especially within an industry like banking is the challenge associated with research studies, where the respondents is probably not truthful and willing to corporate. Delayed collection of questionnaire can be a source of limitation to the analysis, time constraints as to the deadline for the distribution of the research work. Despite these challenges effort will be produced to carryout a thorough investigation on the research work.

1. 9 Format WITH THE PROPOSED CHAPTERS

Chapter One: This section would introduce the study and the backdrop to the analysis the purpose and significance of the analysis, research statements, analyses of the challenge, relevant research questions and other related issues.

Chapter Two: This chapter discusses the conceptual and theoretical summary of the study. It would review the books of various significant scholars on inspiration and efficiency.

Chapter Three: The study design, description of the test data and strategy of research will be described in this chapter. It is a report of the explanation for approach to analyses of the test data to allow us gets to the research studies.

Chapter Four: This chapter gives a thorough research of the sample data with a view to evaluating the proffered research hypothesis for this research. The analyses will be carried out on the research data.

Chapter Five: This last chapter of the research study would emphasize the major findings of the study. This will lead to possible inferences on the implication of the conclusions.

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