IMPACT OF REWARD SYSTEM IN THE BANKING SECTOR OF NIGERIA (A CASE STUDY OF AUCHI MICRO-FIANCE BANK)


IMPACT OF REWARD SYSTEM IN THE BANKING SECTOR OF NIGERIA (A CASE STUDY OF AUCHI MICRO-FIANCE BANK)

TABLE OF CONTENT

CHAPTER ONE

INTRODUCTION

1.1     Background to the Study.

1.2     Statement of the Research problem

1.3     Objective of the Study

1.4     Research Questions

1.5     Statement of Hypotheses

1.6     Scope of the Study 

17      Significance of the Study

1.8     Limitation of Study

1.9     Operational Definition of Terms

CHAPTER TWO

LITERATURE REVIEW

 2.1    Nature of Reward system.

2.2     Theories of Motivation

2.3     Relationship between Motivation and Workers Performances.

2.4     Techniques for Reward System.

2.5     Problems Of Reward System

CHAPTER THREE

RESEARCH METHOD

3.1     Research Design

3.2     Population of the Study.

3.3     Sample and Sampling Technique.

3.4     Instrumentation

3.5     Method of Data Collection

3.6     Method Of Data Analysis    

CHAPTER FOUR

DATA PRESENTATION, ANALYSES, AND DISCUSSION

4.1     Data Presentation

4.3     Test of Hypotheses

4.4     Discussion of Findings

CHAPTER FIVE

SUMMARY, CONCLUSION, AND RECOMMENDATIONS

5.1     Summary

5.2     Conclusion

5.3     Recommendations

REFERENCES

APPENDIX II

Questionnaire

CHAPTER ONE INTRODUCTION

1.1     Background to the Study.

The business world is gradually changing into a complex sector of the society and there are many problems in the business sector, but that which involves reward to workers is difficult to understand. The question now is: how long will the worker work for just salaries? Only bad labor relations and reward systems in an organization have negative and reward system in an organization have a negative impact on the worker's morale as well as on productivity.

Studies have shown that there are several benefit include workers motivation and increased productivity. If workers are well motivated, they work with high morale and put in their best. But if they are under appreciated, their productivity is bound to drop.

An example, a poor and un-motivated worker will not, no matter how information conscious he may be, spend the little money at his disposal on newspaper which enhances the productivity of the organisation. An organisation with un-motivated workforce does not expect the employee to produce good quality products and service. Most micro-finance banks reward system is very poor. In many cases the workers are used and abused, harassed, threatened and often discarded without proper reward and terminal benefit.

Lack of adequate reward for honest effort and good skills is one of the reasons why corruption is a pandemic in organisation productivity will remain low is the reward system does not improve. This may result in plant closure, loss of workers and increase in human misery. A happy and healthy worker is normally a productive employee (all things being equal). In the organisation, the basic ton for motivating workers to perform adequately is through incentive scheme that matches the job they do in the organisation.

Workers are very sensitive to unfair treatment by managers. They have need, perception and goals which are unique. As a result of the above, there is need for the organisation to employ reward system which will be able to meet the needs. Adequate reward gives satisfaction to the worker because they will accept the burden imposed on them by their superiors and be will to contribute their quota to the realization of the organisation objectives. It is in view of this importance of motivation to higher productivity, the researcher decide to choose the topic as his researcher decide to choose the topic as his research topic using Auchi micro-finance bank as my case study.

Reward system play a very vital role in the success of any business organisation. In view of this, the researcher took interest in identifying how reward systems motivate workers to higher productivity in order to achieve organizational objectives.

1.2     Statement of Research problem

In our business organisation today, the welfare of the workers is not taken into serious consideration and they fail to realize without a motivated workforce, the organisation will crumble.

1.3     Objective of the Study

The overall objective is to highlight the impact of reward system in the banking sector, using Auchi Micro- Finance Bank, Auchi, Edo state as a case study. The specified objectives are:

i. To examine how reward system affect workers in the banking sector.

ii. To find out the impact of job motivation on employee productivity.

iii. To identify the need for effective reward system policies in employee’s administration.

iv. To ascertain different problems arising from inadequate reward system.

v. To find out how reward system is being administration in the banking sector.

1.4     Research Questions

In order to carry out this properly, the following question were asked

(1) Does monetary reward for workers increase organization productivity?

(2) Does organization provide healthy and safe service to work?

(3) Does organization pay workers pension and terminal benefit?

(4) Does pension and retirement benefit helpto reduce employee turnover?

(5) Does better reward system for workers lead  to high productivity in the organization?

1.5     Statement of Hypotheses

In order to achieve the purpose of this research, the following hypothesis shall be tested.

(1) Monetary reward system does not enhance workers performance.

(2)  Better reward system for workers will not lead to higher productivity in the organization.

(3)  Provision of health and safety services does not enhance workers performance.

1.6     Scope of the Study 

The research work focuses on the impact of reward system on worker’s productivity and is restricted to Auchi Microfinance Bank, Auchi. Also this research work will cover the nature of reward system, theories of motivation, relationship between job motivation, effect of reward system and problems of reward system.

17      Significance of the Study

This research work will be greatly important to all Microfinance Banks in Nigeria. The study will also be help to managers especially personnel  managers in carrying out their duties or tasks. It is hoped that this research will broaden the knowledge of business students that will be interested in making use of it.

The findings and recommendation of this research work will be useful to any person who wishes to carry out research project on the same topic. The work will also enrich and fertilize ahead already existing literatures on the impact of reward system on worker’s job performance in the banking industry.

1.8     Limitation of Study

In the process of carrying out this research work, the researcher encountered many problems as discussed below;

One of the problems is the attitude of respondents. The respondents were very sceptical about the purpose of the use of this information. Their scepticism which was due to constant disputes between management and labour union made the respondent not to give out information willing to researcher.

1.9     Operational Definition of Terms

The following terms are operationally defined as used in this study.

Reward: All forms of compensation in payment or otherwise which goes to the employees at all organizational level arising from the employment in   a work place.

Motivation: These are complex forces which start and keep the individual at work in the organization.

Incentives: A general terms for compensation payment plans that are geared to result, such as unit of sales.

Satisfaction: Workers contention with the job.

Salaries: These are payment made to employees other than those who are hourly rated.

Wages: Wages are tantamount to compensation     and it includes hourly pay monthly salaries,   bonuses, commission and draw account.

Workers: The total workforce of employee in organization to carry out specific function for which they are rewarded.

Objectives: These are goals which the organization wants to achieve within a given time   dimension of optional allocation of organization human and material resources.

Management: All those involves in social and technical process of utilizing resources and influencing human action to get the job done.

Reward System: The pattern of combination and administration of  various  techniques of worker’s compensation which is adopted a given organization.

Organization: This is the coordination of people for the achievement of a common goal through division of labour and functions also hierarchy of authority’

Productivity: This   is referred to the increase level of output and performance of workers.

Persuasion: This refers to convince or persuade followers to perform a particular tax.

Performance: Is how well or badly a person, company etc, does a particular job or activity.

Bank: A business that keeps and lends money out and provides other financial services.

 

.

IMPACT OF REWARD SYSTEM IN THE BANKING SECTOR OF NIGERIA (A CASE STUDY OF AUCHI MICRO-FIANCE BANK)



TYPE IN YOUR TOPIC AND CLICK SEARCH.




TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.com is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.com" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.