REWARD AND WORKERS’ PERFORMANCE IN BANKING INDUSTRY

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.

CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

In every human society, it is observed that normal individuals or group of individuals engage themselves in different work activities in order to make ends meet. People tend to gravitate towards jobs in which they are well rewarded and withdraw from jobs in which they are not rewarded. The interest and support of workers are sought by effective organizational managers or leaders and use a technique or another to spur their workers towards high productivity.

In many organizations, including the banking sector, reports of delayed payment of workers abound. Management employ principle of late payment of salaries to employees for reasons best known to them. This they do without considering that it could perhaps have counterproductive effect on the performance and general behaviour of their workers. For instance, a situation where bank workers do not receive their salaries quite in time, may result in non-challant attitude of workers to their jobs. Many bank workers may not pay attention to their work during the working period, simply because they are not happy doing the work that attracts delayed payment of salaries. When a worker performs his/her job without satisfaction, and a measure of happiness, the job itself may suffer a set back and company’s profitability may also be becomes low.