Full Project – The effect of motivation on workers productivity in Imo state

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CHAPTER ONE

1.0  INTRODUCTION

1.1  BACKGROUND OF THE STUDY

Although there is general agreement among psychologists that man experiences a variety of needs.  There is considerable disagreement as to what these needs are and their relative importance.  There have been a number of attempts to present models of motivating needs with the implication that these lists are all-inclusive and represent the total picture of needs.

Unfortunately, each of these models has weaknesses and gaps, and we are still without a general theory of motivation.  All organization is concerned with what should be done to achieve sustained high levels of performance through people.  Consequently the subject of adequate motivation of workers as derived from the so many attempts made by management practitioner is to look for the best way to manage so as to accomplish an objective or mission with the least inputs of material and human resources available.

Motivation is concerned with why people do what they do.  It answers such question as why do managers or workers got a work and do a good job.  This tries to explain what motivates people to act the way they do, with primary focus on the workplace.  It is the primary task of the manager to create and maintain an environment in which employees can work efficiently to realize the objectives of the organization.

Employees differ not only in their ability to work but also in their will to do so (motivation).  To motivate is to induce, persuade, stimulate and even compel an employee to act in a manner which fulfills the objectives of an organization. Motivating of employees depends on the strength of the strength of their motives.  Motives are needs, wants, drives, or impulses within the individual and these determine human behaviour.  Motivation then is the process of:

1. Arousing behaviour.
2. Sustaining behaviour.
3. Channeling behaviour into a specific course of action.

Thus, motives (needs, desires) induce employees to act. Motivation therefore is the inner state that energies, channels and sustains human behaviour.  Since it has been established that all behavior excepts involving responses are goals directed, manager can apply motivational theory of management in their attempt to direct the job behaviour of employees towards the goal of their establishment.

1.1.1      Historical Background of Intercontinental Bank Plc

Intercontinental Bank Plc came into existence in March, 1989 as a product of the partnership between some visionary and dynamic Nigerian businessmen, to provide innovative and customer focused products and services that will satisfy the public’s growing needs for sophisticated banking services.  Since its inception then as Nigeria Intercontinental Merchant Bank Limited, the bank has been providing a wide range of products and services covering investment, banking, and retail and funds management.

Since its debut in commercial banking field, Intercontinental Bank Plc has pursued and aggressive branch network expansion programme.  As at March, 2005, the bank has 63 branches making it sixth largest bank in the country in terms of network.

A socially responsible organization, Intercontinental Bank maintains a long-standing policy of corporate responsibility to the communities in which it operates, and has made impact in the areas of public health and education.

In July 1991, the bank converted to a Commercial Bank and later obtained a universal banking license to avail many more customers of its unique products and services as well as tap into other market opportunities in the Nigerian economy.  Following a resolution of the board in October 2001, the bank changed to a public limited liability company in June, 2002 and followed it up in July same year with an initial public offering (IPO).  The capitalization boosted with N3.58 billion being proceeds of the IP and by mid 2004, the banks shareholders fund has grown to N10 billion before the new minimum capital base of N25 billion was set by the regulators.  Consequently, the bank returned to the capital market and raised new funds totaling N22.4 billion thereby growing its shareholders fund to N34.7 billion.  The bank’s shares are listed on the Nigeria Stock Exchange (NSE).

1.2  STATEMENT OF THE PROBLEM

       It has been observed among the banking institutions the rate at which workers in different banks move from one bank to another.  Frauds have also become the order of the day thereby keeping the innocent customers on their toes.  In the course of this research work, the researcher was able to identify the following problems:

1. Poor salary structure of bank workers.
2. Extended man hours at work place.
3. High labour turnover due to lack of job security in the banking sector.

1.3  OBJECTIVES OF THE STUDY

1. To ascertain the relationship between good salary structure and workers productivity in Imo State.
2. To ascertain whether lack of motivational incentives causes high labour turnover in banking institutions.
3. To determine the required man-hour to be put in by staffs in banking sector.

1.4  RESEARCH QUESTION

1. What kind of relationship exists between good salary structure and workers productivity in Imo State.
2. To what extent does lack of motivational incentives cause high labour turnover in banking institutions.
3. What is the required man-hour to be put in by staff in the banking sector?

1.5  SIGNIFICANCE OF THE STUDY

       The significance of this study cannot be over emphasized.  It will be based on the examination of the motivation practice in Intercontinental Bank Plc and to know the extent to which it is being carried out, the effects on the workers, the organization and the country at large.

More so, to acquaint the various managers and different categories of employers will go a long way in achieving higher productivity.  Besides those student in the field of administration will find it educative, interesting and challenging in that, the various activities and techniques of motivation are revealed and logically analyzed.

Lastly, this project will be of value to those who may want to carry out similar research in the nearest future.

1.6  SCOPE OF THE STUDY

       This project covers the aspect of motivation in persuading, stimulating and compelling an employee to act in a manner which fulfills the objectives of the organization.  One cannot but say that data collection is the most tedious of writing a project.

1.7  LIMITATION OF THE STUDY

       This refers to those constraint encountered in the course of carrying out this research study.  The researcher being a student who has to read other courses as well as to take normal lecturers during the period of the research may be limited by time given for the study being too short.

Lastly, the fund constraint in carrying out this research project, the cost of getting materials and information as well as their adequacies will also constitute the limitation of the study.

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Full Project – The effect of motivation on workers productivity in Imo state