IJSRA-2023-0697
IJSRA-2023-0697
Publication history: Received on 18 July 2023; revised on 30 August 2023; accepted on 01 September 2023
Abstract
Motivation for a bank worker refers to the internal and external factors that drive an individual employed in a banking
industry to engage in their work with enthusiasm, dedication, and a sense of purpose. It involves the underlying reasons
and incentives that influence an employee to perform their job tasks effectively and contribute to the overall success of
the bank. Motivated bank workers are more likely to be proactive, innovative, and productive, which can lead to
enhanced customer service, increased efficiency, and better organizational performance. The study extensively
explored the correlation between motivation and employees' performance, with a particular focus on the Head Office
of First Bank of Nigeria Plc in Lagos. Employing a survey research design, the research involved a purposive sampling
technique to carefully select a sample size of forty (40) participants. Data collection employed a well-structured
questionnaire, and subsequent analysis encompassed the utilization of frequency tables, simple percentages, and the
chi-square test. The outcomes derived from the analysis revealed a significant connection between motivational factors
and employees' performance within the organizational context. Consequently, the study's recommendations
underscored the importance of ensuring robust motivation for the workforce at First Bank. By implementing efficacious
motivational strategies, the bank has the potential to elevate employee performance levels and cultivate a more
productive and thriving work milieu.
1. Introduction
The correlation between motivation, remuneration, and employee performance has been a well-established
organizational policy over time, serving as a means to enhance workforce efficiency and subsequently elevate overall
productivity. In the context of today's global economic landscape, employers have recognized that a company's
competitive standing is significantly influenced by the collective performance of its employees. Motivation, as defined
by Daniel and Caryl (1995), represents the impetus or influence that propels individuals towards fulfilling their desires.
Egwurudi (2008) characterizes motivation as a potent force that fortifies behavior, guides its trajectory, and triggers a
persistent drive. This perspective underscores the need for individuals to exhibit sufficient vigor and a clear sense of
purpose to attain set objectives. Eze (2009) further elaborates that motivation is an internal drive aimed at satisfying
unfulfilled needs and attaining goals. This intrinsic impetus propels and sustains goal-directed actions (Jibowo, 2007),
Corresponding author: Oshireku Vincent Onivefu
Copyright © 2023 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0.
International Journal of Science and Research Archive, 2023, 10(01), 077–089
functioning as an internal engine that compels individuals to achieve both personal and organizational objectives
(Nwachukwu, 2004). In essence, motivation operates as a dynamic force that propels performance towards specific
targets (Rukhmani, Ramesh, and Jayakrishman, 2010). Among the triad of financial, economic, and human resources,
the latter holds particular significance and the potential to confer a competitive advantage upon a company. While
several factors influence employee performance, including performance appraisals, satisfaction, compensation,
training, job security, and organizational structure, this study centers its focus exclusively on employee motivation due
to its potent impact. Employee motivation is a pivotal strategy employed by managers to foster effective job
performance within organizations. A motivated employee possesses a clear understanding of the objectives and goals
to be achieved, thereby channeling their efforts towards those specific targets. As posited by Yazdani et al. (2011),
motivation imbues an organization with enhanced success, as motivated employees perpetually seek superior
approaches to task completion. The enduring challenge of eliciting optimal performance, even in challenging
circumstances, can be successfully addressed through effective motivation strategies.
78
International Journal of Science and Research Archive, 2023, 10(01), 077–089
Makulsawatudom and Emsley (2001) identified 8 factors that craftsmen in the Thailand construction industry believed
influenced productivity. These factors were:
2.1.11. Communication
Clear and efficient communication among team members and stakeholders was identified as a factor that significantly
impacted productivity.
These factors collectively shape the productivity landscape in the Thailand construction industry, indicating the
multifaceted nature of influences on workers' efficiency and project outcomes.
79
International Journal of Science and Research Archive, 2023, 10(01), 077–089
driving project goal attainment. Employee motivation significantly influences their job productivity. A high level of
motivation is linked to better quality performance and increased work and life satisfaction. Maintaining motivation is
vital as it drives employee initiative, creativity, and quality performance, especially when direct monitoring is
challenging. Measuring employee performance involves self-rating via a program called SAP, willingness to undertake
tasks beyond job description, and absence frequency. Motivation is crucial for ensuring high-quality performance and
fostering employee engagement. First Bank of Nigeria, also known as First Bank, is a leading Nigerian multinational
bank and financial services company headquartered in Lagos. It holds the position of Nigeria's largest bank in terms of
total deposits and gross earnings. With a vast network spanning Africa, the United Kingdom, and representative offices
in key locations, including Abu Dhabi, Beijing, and Johannesburg, it caters to trade-related activities between regions.
The bank excels in retail banking and boasts the largest retail client base in Nigeria.
Over the years, First Bank has received recognition for its excellence. It has been awarded the Best Retail Bank in Nigeria
by The Asian Banker for five consecutive years, emphasizing its prominence in the Nigerian banking sector. With a
strong presence nationally, the bank serves over 10 million active customers and employs a workforce of more than
7,000 individuals. The bank's operations are organized into Strategic Business Units (SBUs) encompassing Retail
Banking, Corporate Banking, Commercial Banking, and Public Sector Banking. Founded in 1894, First Bank holds the
distinction of being Nigeria's oldest bank. Over time, it evolved into a public company and was listed on the Nigerian
Stock Exchange (NSE) in 1971. The bank's assets reached NGN3.9 trillion (approximately $12.2 billion as per 2017
exchange rates) by December 2015. Despite its extensive reach and size, First Bank maintains diversified ownership
with over 1.3 million shareholders. Accolades have further solidified First Bank's reputation. It has been named "The
Best Bank Brand in Nigeria" for five consecutive years and awarded "Most Innovative Bank in Africa" in the EMEA
Finance African Banking Awards 2014. Although it was delisted from the NSE as part of the non-operating holding
company restructure in 2012, First Bank continues to stand as a pillar of strength and innovation in the Nigerian banking
landscape.
To examine the effect of salary as a factor that increases motivation of employees in an organization.
To evaluate the effect of employee’s motivation on organizational performance.
To examine the relationship between employee performance and organizational performance or firm growth.
80
International Journal of Science and Research Archive, 2023, 10(01), 077–089
3. Research Methodology
3.5.1. Questionnaire
Designed for this study was prepared to collect information on personal data from the respondents.
3.5.2. Interview
A face to face approach interview meant to validate some information supplied by some respondents to the question is
adopted. The system also enable researchers to elicit some information from the management and customers of the
company.
81
International Journal of Science and Research Archive, 2023, 10(01), 077–089
3.5.3. Internet
The researcher consulted the internet service with the help of search engines such as google.com, devilfinder.com etc.
In order to enrich their knowledge on the subject matter and to verify the data already collected from various sources.
4. Results
Data analysis is an essential part of research and deserves to be treated with utmost importance and care. This is
because well-designed research should be named by pool statistical design and data analysis. When data are poorly
analyzed, interpretation and conclusion based on them could be seriously compounded. Therefore, simple percentage,
frequency table and simple additions were used to present the data.
The gender distribution table above shows that 65% of the respondents were male, while the rest 35% of the
respondents were female.
An examination of table 2 revealed that 15% of the respondents fell within 20 years and below, 37.5% were within the
ages of 21-30 years, 17.5% were within 31-40 years while 30% were above 40 years.
Table 3 shows that 62.5% of the respondents were single, 37.5% were married while there was no divorce.
82
International Journal of Science and Research Archive, 2023, 10(01), 077–089
Table 4 above shows that 12.5% of the respondents had SSCE/GCE, 15% had NCE/OND, while 50% which was the
highest had B.Sc/BA/HND. Those with Post-Graduate were just 10%, while 12.5% had Professional certificates.
From table 5 above, 10% of the respondents had spent 5 years and below, 45% had spent spent 6 and 10 years in the
organization, 22.5% had spent between 11 and 15 years while 22.5% had spent 16 years and above with the
organization.
83
International Journal of Science and Research Archive, 2023, 10(01), 077–089
From the table above, out of the total respondents, the organization had a total of 13 with 32.5% as junior staff, 21 with
52.5% as senior staff while 6 with 15% represented the executive staff.
Table 7 above shows that 22.5% of the respondents strongly agreed there is effect of salary as a factory that increase
motivation of employees in an organization, 40% agreed, 15% strongly disagreed, 10% disagreed and 12.5% could not
make a decision.
Table 8 There is significant difference between employee motivation and organization performance.
Table 8 above shows that 10% of the respondents strongly agreed that there is difference between employee motivation
and organization performance, 12.5% agreed, 45% strongly disagreed, 22.5% disagreed, while 10% were undecided.
Table 9 above shows that 37.5% of the respondents had the view that employee motivation affect organization
performance positively, 57.5% of the respondents had the view that is negatively while 5% were undecided.
84
International Journal of Science and Research Archive, 2023, 10(01), 077–089
Table 10 shows that 62.5% of the respondents were of the view that the extent at which motivation influence employee
productivity is high, while 37.5% of the respondents said it was low.
Table 11 above shows that 17.5% of the respondents strongly agreed that there is effect of employee motivation on
organization performance, 15% agreed, 10% strongly disagreed, 42.5% disagreed while 15% were undecided.
Table 9 above shows that 30% of the respondents strongly agreed that there is relationship between employee
motivation and workers performance, 45% agreed, 12.5% strongly disagreed, 7.5% disagreed while 5% were
undecided.
85
International Journal of Science and Research Archive, 2023, 10(01), 077–089
Analysis: Table 7 shows that 17.5% of the respondents strongly agreed that there is impact of employee motivation on
organization performance, 45% agreed, 7.5% strongly disagreed, 17.5% disagreed while 12.5% could not make a
decision.
∑(𝑂 − 𝐸)2
𝑋2 =
𝐸
Where
X2 = Chi-Square
= Summation
= Observed frequency
E = Expected Frequency
O E O-E O - E2 (O - E2) E
12 8 4 16 2
18 8 10 100 12.5
5 8 -3 9 1.13
3 8 -5 25 3.13
2 8 -6 36 4.5
40 40 0 186 23.26
X2 = (O – E)2 ÷ E = 23.26
86
International Journal of Science and Research Archive, 2023, 10(01), 077–089
Since calculated value was greater than critical/table value, accept the alternative hypothesis (Hi). This implies that
there is a significance relationship between employee motivation and workers performance.
4.5.1. Question 7 is used to test whether there is an effect of salary as a factor that increases motivation of employees in an
organization?
Ho: Increase in motivational tools does not have any significant effect on employee performance.
Hi: Increase in motivational tools has significant effect on employee performance.
X2 = (O – E) 2 ÷ E = 11.76
If this hypothesis is tested at 5% level of significance, X2 table value = 9.49 at four degrees of freedom. Since X2 calculated
value is greater than X2 tabulated/table value, accept the alternative hypothesis Ho. This implies that increase in
motivational tools does not have any significant effect on employee performance.
5. Discussion of Findings
Based on the analysis, the following findings were discovered and discussed as follows:
The first hypothesis which states that there is a significant relationship between employee motivation and workers
performance was accepted. This shows that the kind of motivation given to workers in an organization has a significant
influence on workers performance. This is in line with equity theory which emphasizes that fairness in the remuneration
package tends to produce higher performance from workers. The findings also agrees with the work of Berjum et al
(2004) which showed that subjects who received individual incentives performed better than those who did not receive
them. And workers exhibited productive work behavior when rewards were made contingent upon performance. The
second hypothesis which states that “Increase in motivational tools does not have any significant effect on employee
performance” was also accepted. This finding suggests that there is a significance relationship between motivational
tools such as wages; remuneration, recommendation, recognition e.t.c receive by workers and their performance.
87
International Journal of Science and Research Archive, 2023, 10(01), 077–089
6. Conclusion
The significance of rewards in daily work performance cannot be overstated, particularly when it involves
acknowledging job completion. It is widely recognized that motivation increases human performance in various
capacities. From the study's findings, it's evident that a worker's reward package holds substantial importance and
should be a shared concern between employers and employees. The research outcomes indicate that employees attach
significant value to the rewards they receive from their employers. Consequently, the absence of these rewards can lead
to reduced commitment and subpar performance. Organizations must prioritize their workforce's needs and sentiments
to maintain industrial harmony, as content employees tend to be more productive. Given the emphasized role of
effective remuneration policies and the various types of rewards that influence improved job performance, this study
emphasizes the necessity for employers to establish suitable incentive plans. These plans can promote purposefulness
and performance enhancement among workers, reinforcing their commitment and dedication.
Recommendation
Employers constantly face the challenge of creating effective pay policies to attract, motivate, retain, and satisfy their
employees. The insights from this study offer a valuable resource to address individual conflicts arising from inadequate
reward systems. At this point, it is crucial to propose that additional research should explore the connection between
rewards and worker performance across various private and public organizations. Further studies are needed to
comprehensively examine all factors affecting employee performance. Due to the identified limitations, the ability to
apply the findings of this study universally is limited.
Funding
Self-funding.
References
[1] Armstrong, M. (2006). Human Resource Management Practice. Kogan Page, Pp. 251-269.
[2] Basson, G. et’al (2003). Project Management – A Multi-Disciplinary Approach. FPM Publishing, South Africa.
88
International Journal of Science and Research Archive, 2023, 10(01), 077–089
[3] Bloisi, W., Cook, C.W and Hunsaker, P.L (2003). Management and Organizational Behaviour. McGraw-Hill, pp.169-
208.
[4] Cartwright, J. (1999). Cultural Transformation, Financial Times. Prentice Hall.
[5] Egan, J. (1998). Rethinking Construction. Department of the Environment, Transport and the Regions.
[6] Erez, M. (1977). Feedback: A Necessary Condition for the Goal Performance Relationship. J. Appl. Psychol. 62:624-
627.
[7] Heizer, J. and Render, B. (1999). Operations Management, Fifth Edition. Prentice Hall. pp 16-23, 392-403.
[8] Herzberg, F., Mausner, B. and Snyderman, B. (1959). The Motivation to Work. New York, John Wiley and Sons,
Inc.
[9] Kreitner, R., Kinichi, A. and Buelens, M. (1999). Organizational Behaviour. McGraw-Hill, Higher Education, First
European edition, p.118.
[10] Latham, M. (1994). Constructing the Team: Final Report of the Government/Industry Review of Procurement
and Contractual Arrangements in the UK Construction Industry. London: HMSO.
[11] Maslow, A.H (1943). A Theory of Human Motivation. Psychol. Rev. 50(4):370-396
[12] McClelland, D.C (1988). Human Motivation. Cambridge University Press. ISBN 978
[13] Mullins, L.J (2005). Management and Organizational Behaviour. Prentice Hall. UK 7th Ed. 88(431):1052-1058.
[14] Odusami, K.T, Iyagba, R.R.O and Onirin, M.M (2003). The Relationship Between Leadership, Team Composition
and Construction Project Performance In Nigeria. Int. J. Project Managers 21(7):519-527.
[15] Vroom, V.H (1964). Work and Motivation. New York: Wiley.
89