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Chapter one


1.1 Background of the Study.

Motivation is the readiness to exert significant effort towards organisational goals, contingent on the opportunity to meet particular individual requirements. In truth, motivation is a method of encouraging people or individuals to give their all while working for you by acknowledging their material or moral contributions. Obisi (2006) defines motivation as the willingness to work.

He believes that it is the act of stimulating someone or oneself in order to achieve a desired outcome, such as pushing a button or eliciting a desired reaction. No matter how qualified and skilled an individual is, he or she will inevitably fail if not motivated (Obisi, 2003).

In every human culture, normal individuals and groups participate in a variety of work tasks to make ends meet. It is common knowledge that the more people achieve their desired goals and objectives by performing one or more jobs

the more their interest is piqued, and the more contributions they make to promote their individual standards, as well as the growth and sustenance of the organisations where they work.

Thus, in order to gain the attention and support of employees, competent organisational managers or leaders typically use one type of motivational method or another to urge their employees to high production in the banking organisation.

To be effective, motivational materials must be dynamic. Motivational tactics are inflexible, risky, and counterproductive. Organisations must and should not forget that a fulfilled need is no longer a driver of conduct.

When planning and executing motivational techniques, it is important to consider environmental, organisational, and even individual changes (Ayo, 2003).

Motivation has thus far been acknowledged as a critical tool for high organisational productivity and a vital agent for achieving peace and harmony in both the public and commercial sectors of the nation’s economy. Bank employees, for example, must be motivated in order to work effectively and achieve high levels of production.

People naturally prefer professions that provide high levels of employee satisfaction and avoid employment with few or no motivational incentives. In truth, the power of motivation is significant in the lives of employees in any business, whether it is a corporate organisation or the banking industry.

However, it is regrettable to note that most companies owned by the government or private capitalists do not appear to pay much attention to the welfare of their employees, despite their awareness of the difficult roles of motivation in the lives of their workers and the organisation.

The lack of motivation in any organisation quickly leads to friction between management and employees, who will undoubtedly perceive management as exploiters, selfish, and inhumane to their fellow man (Onuoha, 2005).

More often than not, the relentless pursuit of extraordinary profit diverts the attention of organisational managers from devising new ways to appreciate their employees.

Most entities in the banking sector, such as Finbank Nigeria Plc, appear to be more concerned with making large profits by requiring their employees to meet very high marketing targets on a monthly basis without providing commensurate motivation in terms of work incentives and fringe benefits.

It’s no surprise that at some institutions, such as schools, teachers and lecturers go on strike or take industrial action to protest their employees’ blatant neglect and lack of enthusiasm.

Some people lose their employment because they fail to fulfil the expected, ridiculous targets. Even though most employers appear to be better compensated, they rarely have time for themselves.

As a result, some people, particularly socialites, find it boring to be imprisoned or exposed to the pitch for extended periods of time every day in the name of marketing. This, however, appears to have a direct impact on the work performance of individual individuals, particularly bank employees.

The need to make bank workers feel like they belong in the banking sector, such as Finbank, in terms of good salaries and better welfare packages is critical because bank workers are the strength and support for the existence of every bank organisation, even though management directs and monitors employee activities and business affairs.

Many organisations appear to have failed to recognise that motivating employees is less expensive and safer than treating them with scorn and disrespect. The more satisfied a worker is, the more committed he or she will be to the company and may not search elsewhere for greater opportunities.

Such uniformity would undoubtedly increase worker productivity while also increasing the bank or establishment’s revenue and profit (Aikomu, 2003).

People are more prone to switch jobs if they are not adequately compensated in terms of higher salary and wages, as well as good welfare packages. Motivating employees would allow bank employers and other industrial outfits to compete more effectively in the business.

Perhaps banking sector management should be appropriately guided as to the need of prioritising employee well-being. This would aid in not just improving individual worker performance and organisational productivity

but also fostering positive relationships between management and employees. This would inevitably bring to peace and harmony in the banking system (Nlem 2002).

1.2 Statement of Problem

Neglecting to motivate bank employees by failing to provide suitable salaries and pay, as well as good welfare packages, appears to be the norm in the banking sector, and most likely in other organisations’

Bank managers frequently complain about not having enough time for personal needs and duties because of the lengthy hours they work in their workplaces. The situation appears to have been exacerbated by requiring every employee

whether in the operations, customer service, or marketing departments, to generate a certain amount of profit for their finances without providing adequate motivation in the form of work benefits and incentives to workers.

However, this depletes worker morale and decreases performance, efficiency, and production. This study seeks to determine whether motivation has any bearing on bank employees’ efficiency, specifically at Finbank Nigeria Plc in Lagos State. It will also investigate why certain managers are negative about employee motivation.

1.3 Study Purpose

This study is designed to determine:

1. Whether motivation can influence the productivity of bank employees in the banking business or not.

2. Whether personnel in Finbank Nigeria Plc’s marketing department were motivated or not,

3. If bank employees place a high value on whether they are motivated,

4. Whether there was any difference in productivity between bank staff who are driven and those who are not,

5. Whether management recognises the significance of motivation in the development of employees and organisations, and to

6. Make appropriate recommendations to assist management in making decisions regarding effective motivating of bank employees.

1.4 Research Questions.

The research questions that led the study were as follows:

1. Can motivation increase the efficiency of bank workers?

2. Are staff of Finbank Nigeria Plc highly motivated?

3. Do bank employees prioritise being motivated by management or not?

4. Will there be any difference in the productivity of motivated bank employees against those who are not?

5. Does management recognise the value of motivation in the growth and development of bank employees and banking organisations?

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