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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