ABSTRACT
The level of
motivation received by an employee as reflected in the satisfaction with the
base pay package and other incentives goes a long way to influencing the
employees’ attitude to work, loyalty, performance and job satisfaction.
Employee’s motivation and organization performance has been investigated across
different fields and economic sectors. This study takes it further by examining
incentive package, employees and organization productivity in real estate firms
in Nigeria. Panel survey approach was adopted and three questionnaires
administered in each of the twenty five (25) staff of First Bank and Union Bank
both in Okigwe L.G.A of Imo State. Findings showed amongst others that there is
strong positive correlation between incentive and employee productivity,
employees are largely dissatisfied with the incentives offered by majority of
estate firms and that incentive package is not the most important determinants
of performance in real estate firms. The study therefore concludes that
employers in real estate firms pay attention to other factors identified and
review remuneration and incentive package to boost the morale of their
employees for better performance.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
Motivation
in is a common word often discussed by people in any given organization. One of
the major problems confronting management is that of motivating workers to
perform assigned tasks to meet or surpass predetermined standards. Motivation
is that energizing force that induces or compels and maintains behaviour. Human
behaviour is motivated, it is goal directed (Armstrong, 2000). It is not easy
to motivate an individual, for the success of any motivational effort depends
on the extent to which the motivator meets the needs of the individual employee
for whom it is intended. Motivation is an internal psychological process whose
presence or absence is in inferred from observed performance. Motivation is one
of the three factors in the functions directing. It is described as a process
that arouses channels, Sustains and gives people’s behaviour purpose and
direction (Maslow, 2007). It is concerned with the “why’’ of human behaviour,
what it is that makes people do things (Beach, 2000) or simply it is the
stimulation of people to action to accomplish desired goals.
1.2 STATEMENT
OF PROBLEM
The
purpose of the study is to access or investigate the overall incentive schemes
of the organization so as to determine its effect on organizational
performance.
1.3 OBJECTIVES
OF THE STUDY
The
primary objective of this study is to examine how incentive can be used to
motivate workers in an organization. The specific objectives are;
i.
Identify motivational tools available in
the organization.
ii.
To examine the role of incentive system
in the organization under review, taking cognizance of the incentive system
available in the organization.
iii.
To evaluate the effectiveness and
efficiency of the incentive system adopted in the organization to be reviewed.
iv.
To examine the degree to which the
incentive has served as security and performance enhancing tool.
v.
Measure how incentive system has enabled
the management to achieve its goals.
vi.
Suggest how to improve the incentive system
in the organization under review.
1.4 RESEARCH
QUESTIONS
i. What
are the effects of incentives on the staff performance of the banks?
ii. To
what extent has incentive scheme served as job security and motivation for
staff of the organization?
iii. What
is the efficiency and consistency level of the incentive scheme payment?
iv. Are
there challenges facing the payment of incentive scheme?
1.5 RESEARCH
HYPOTHESIS
Hypothesis 1:
Significant relationship exists between incentives and organizational productivity.
Hypothesis 2:
The level of performance led to enhanced organizational productivity due to the
introduction of incentive scheme
Hypothesis 3:
The incentive scheme is universal i.e. it applies to all levels of staff.
1.6 SCOPE
OF THE STUDY
The
work is expected to cover the examination and appraisal of the existing
incentive systems in the organization with a view to offering suggestions to
rectify cases of weakness. A study of the appraisal of the incentive system
will not be complete without relating it to performance of organization tinder
view. Thus, performance appraisal of the organization will be examined in order
to relate the existing incentive system with the performance of the
organization.
1.7 SIGNIFICANCE
OF THE STUDY
This
work will be of immense benefit to the company particularly in proper
definition of marketing to invest in and that will reduce waste and losses with
increased sales volume implication. The research work has also achieved the
knowledge of the writer in the area of finding out the best tools for
segmenting a market.
1.8 LIMITATIONS
OF THE STUDY
The
researcher encountered few challenges in the course of this research. Some of
the problems are but not limited to the following;
Managers
indisposition of fully respond to the demands of questionnaire and particularly
no response to the ulterior motive behind the researcher.
Hoarding
of some relevant information by some employees due to reprisals by management
even after reiteration of the aim of research.
Distance
between the area of study and the researcher’s school, hence, a lot of stress,
expenses were borne by the researcher