REWARD AND WORKERS’ PERFORMANCE IN BANKING INDUSTRY IN LAGOS STATE (A CASE STUDY OF FIRST BANK PLC.)
ABSTRACT
The study examined the impact of reward on employees’ performance at First Bank Plc. Chapter one examined four research questions and four research hypotheses which were formulated in the null forms. The significance of the study was also examined which its scope was limited to the First Bank Nigeria Plc located in Lagos State. Relevant literature from various authorities were reviewed under the following sub-headings: Theoretical framework, importance of reward and workers’ productivity; motivation among Nigerian employees, the banking hospitality, an empirical studies of related to the use of tangible and intangible rewards in employees motion, concept and types of motivation, the process of reward and so on. The methodology which further dwelt on the following: research technique, instrumentation, procedure for data collection and procedure for data analyses. Data analyses were carried out in which the bio-data and the questions were analysed using the simple percentage frequency count while the hypotheses formulated were tested with the application of the Pearson Product Moment Correlation Coefficient statistical tool at 0.05 level of significance. At the end of the exercise, the following results were obtained: there is a significant relationship between reward and productivity of workers, there is a significant relationship between bank employees who are rewarded and those who are not, there is a significant relationship between workers’ performance who are trained and those who are not, and there is a significant relationship between poor salary and workers’ performance in the banking sector.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgements iv
Abstract v
Table of Contents vi
CHAPTER ONE: INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of the Problem 3
1.3 Purpose of the Study 4
1.4 Research Questions 4
1.5 Research Hypotheses 5
1.6 Significance of the Study 5
1.7 Scope/Delimitations 6
1.8 Limitations 6
1.9 Definition of Terms 7
CHAPTER TWO: LITERATURE REVIEW 9
1.1 Theoretical Framework 10
2.2 Importance of Rewards and Workers’ Productivity 12
2.3 Use of Rewards in Motivation of Workers 15
2.4 Motivation among Nigerian Employees: The Banking and Hospitality 23
2.5 Herzberg’s Hygiene and Motivation Factors and Workers’ Productivity 25
2.6 Empirical Studies Related to the Use of Tangible and Intangible
Rewards in Employee Motivation 26
2.7 Concept and Types Motivation 28
2.8 The Process of Reward 35
2.9 Problems Associated with the Absence of Motivation/Reward 38
2.10 Solution to Reward Problem 39
2.11 The Meaning of Workers’ Productivity 41
2.12 Major Factors that Influence Workers Productivity 42
2.13 Compensation and Worker Productivity 44
2.14 The Importance of Financial Compensation and Workers’ Productivity 47
2.15 The Need for Effective Compensation and Work Performance 51
2.16 Elements of a Compensation Package 52
2.17 Summary of the Review 57
CHAPTER THREE: RESEARCH METHODOLOGY 58
3.1 Research Design 58
3.2 Population 59
3.3 Sample 59
3.4 Instrument 59
3.5 Validity 60
3.6 Reliability 60
3.7 Administration of Instrument 60
3.8 Data Analysis 61
CHAPTER FOUR: DATA ANALYSIS AND INTERPRETATION OF
RESULTS AND DISCUSSION OF FINDINGS 62
4.1 Descriptive Analyses of Bio-Data according to age, sex, position and
educational qualification of respondents 62
4.2 Descriptive Analyses of the Research Questions together with Data
Collected from the Respondents 65
4.3 Hypothesis Testing 71
4.4 Discussions 74
CHAPTER FIVE: SUMMARY, CONCLUSIONS, RECOMMENDATIONS
AND SUGGESTIONS FOR FURTHER STUDIES 77
5.1 Summary 77
5.2 Conclusion 79
5.3 Recommendations 79
5.4 Suggestions for Further Studies 81
References 82
Appendices 89
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