EFFECT OF MOTIVATION & BENEFIT ON EMPLOYEE PRODUCTIVITY

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ABSTRACT

This study examines the relationship between Motivation and Employee productivity, using First Bank Nigeria Plc. as a case study. First Bank of Nigeria, is a Nigerian multinational bank and financial services company. It is the country’s largest financial services company serving about eight Million (8,000,000) strong customer base through over 750 nationwide branches , as well as online services, with its global reach and currently it is Nigerian's largest bank by assets. Just like any long standing big organization First Bank Plc. is faced with the problem of developing and sustaining staff engagement through motivation to achieve high employee and organization productivity and prevent low employee morale and low overall organizational performance, the paper aimed at identifying various strategies and motivational techniques that exist in the organization, determination of the best motivational techniques that bring the best out of employees and to determine ways of improving overall organizational performance through appropriate motivational approach. This study was carried out among the employees of First bank Nigeria Plc. spanning through branches and the headquarter in Lagos, Nigeria. 450 well –structured questionnaire were administered on the six (6) geopolitical zones of Nigeria where First Bank Plc is evenly represented in branches with a total of 300 questionnaires received back and passed through statistical analyses. Research questions were raised based on the research objectives and hypotheses. Chi-Square statistical test was deployed to test the various hypotheses formulated in the study. The result showed that quality of supervision has positive effect on employee motivation to work better. It was also found that workers perception on what obtained in his organization will motivate him to greater productivity. Financial motivation involving monetary rewards have greater impact on performance and organizational productivity.

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