THE EFFECTS OF MONETARY INCENTIVE ON WORKERS PERFORMANCE IN NIGERIA ORGANIZATION (A CASE STUDY OF FIRST BANK PLC, ENUGU)

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ABSTRACT

In all organization, productivity is beckoned on the design of the incentive variation given to workers and management. There are different types of incentives that could motivate people to work to their optimal level and when these incentives are not there, their productivity will greatly be affected. Therefore, the researcher from his findings made this recommendation that monetary incentives should adopted other than other types of incentives for effective performance in an organization. The researcher investigated the following research problems by trying to find out the factors that encourage effective behaviour among employees, investigated the effectiveness adequacy and relevant of effective scheme in overall performance of the individual workers and so on. In generating data needed for the study, descriptive survey research design was adopted, questionnaire was used as the major instrument for primary data collection. To widen the researchers depth of knowledge in the study area, the research embarked upon review of related literature with data drawn from secondary sources. It was realized at the end of the research work that most organizations cannot get the best out of their workers or attain their organizational goals and objectives because of absent of monetary incentives, workers are not allowed to join in deciding affairs that concerns them. The study concluded that monetary incentives make the workers satisfied with treatment given to them by the organization in order to achieve its goals, targets and objectives in a very short time.

TABLE OF CONTENT

Title page ii

Approval page iii

Dedication iv

Acknowledgement v

Abstract vi

Table of Content vii

CHAPTER ONE:

INTRODUCTION

Background of the study 1

Statement of the problem 6

Objectives of the study 7

Research Questions 8

Research Hypothesis 9

Significance of the study 9

Scope of the Study 10

Significance of the study 12

Limitations of the Study 13

Definition of Terms 14

CHAPTER TWO:

REVIEW OF RELATED LITERATURE

Overview of Monetary Incentives 13

Concept of Incentive Scheme 17

Employees Response to Employers Incentives 18

Motivation and Employee Performance 24

Evidence Regarding the Effects of Monetary Incentives on Effort and Performance 29

CHAPTER THREE:

RESEARCH DESIGN AND METHOD

Research Design 34

Area of the study 35

Population of the study 36

Sample size and Sample Techniques 37

Instrument for Data Collection 38

Validity of Instrument 38

Reliability of Instrument 38

Method of Data Collection 39

Method of Data Analysis 39

CHAPTER FOUR:

PRESENTATION AND ANALYSIS OF DATA

Presentation and Analysis of Results 40

Test of Hypothesis 46

CHAPTER FIVE:

FINDINGS, CONCLUSION AND RECOMMENDATIONS.

Findings 51

Conclusion 52

Recommendations 53

Implication for Research Finding 55

Suggestion for Research Finding 55

References

Appendix

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THE EFFECTS OF MONETARY INCENTIVE ON WORKERS PERFORMANCE IN NIGERIA ORGANIZATION (A CASE STUDY OF FIRST BANK PLC, ENUGU)

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