1.1. BACKGROUND OF THE STUDY
Motivation is a key which creates an enabling environment where optimal performance is possible and are drivers to human behavior. Motivation plays a role in the performance and other activities and as such managers should know what motivation is and how subordinates can be motivated towards enhancing performance. Motivation is the reason why people act in a particular manner. Motivation is not a simple concept; it pertains to various needs, drives, desires, wishes and other forces of all individuals tendency. Human motives are based on needs which are consciously or subconsciously sensed. Some needs are basic, while some are secondary; such needs include water, air, shelter, food, sleep, self-esteem, status, affiliation, affection, accomplishment and self- assertion (Weihrich, Cannice & Koontz, 2008). According to Maslow, individuals attain the next hierarchy of needs after the first one has been achieved. Senior managers are not much motivated extrinsically by money and other physiological needs, but are well motivated intrinsically through self-esteem and self actualization and by so doing if their ideas are well transformed into performance, they feel motivated (Muogbo, 2013). In the world today, it is generally accepted that the success of any business organization depends on the effective utilization of the effort of all employees in the organization. Managers are responsible for creating an environment that is conducive for improved performance, so as to induce the right behavior from employees in the organization. For employees to be highly motivated, the manager must make sure that working conditions is adequate and welfare package is attractive to the employees (Akanbi, 2002). However, the performance of an organization is jointly determined by the employee’s capacity and their willingness to put in their best (Feldman & Arnold, 1983; William, 2010). Willingness and ability are important, since it implies that beyond a certain level, lack of ability cannot be compensated for willingness to high motivation and conversely lack of willingness cannot be compensated for employee’s ability to high level performance. Willingness and ability are necessary components of effective performance in every organization.
1.2. STATEMENT OF PROBLEM
When you think about it, it can be realized that, the success of any facet of business or company can be traced back to motivated employees. From productivity and profitability to recruiting and retention, hardworking and happy employees lead to harmony and organizational triumph (Ryan, 2012). Unfortunately, motivating people is far from an exact science in most businesses or organizations. Most organizations are still living in yesteryears of organizational management. Organization exists for the purpose of rendering some services. For the organization to meet its objectives, people are employed in the organization in order to help the organization meet its objectives. Thus, in order to ensure that people employed in the organization perform optimally towards the realization of organizational goals, they need to be motivated to work. Lack of proper motivation factors may result in losses which may eventually lead to low staff turnover, poor attitude towards work, low output level and low profitability. It is in the light of these that the study intends to look into the effect of motivation on the performance of the employee’s of First bank of Nigeria.
1.3 AIMS OF THE STUDY
The major purpose of this study is to examine motivation and employee performance in First Bank. Other general objectives of the study are:
1.4 RESEARCH QUESTIONS
1.5 RESEARCH HYPOTHESES
The following hypotheses will be tested in this study:
Ho: The quality of supervision will not motivate workers performance.
Hi: The quality of supervision will motivate workers performance.
Ho: An employee’s perception of what obtained in his organization will not motivate him to greater performance.
Hi: An employee’s perception of what is obtained in his organization will motivate him to greater performance.
Ho: An employee’s perception of organizational appraisal policy will motivate him to greater performance.
Hi: An employee’s perception of organizational appraisal policy will not motivate him to greater performance.
Ho: The employee’s satisfaction with its fringe benefits will not motivate him to greater performance.
Hi: The employee’s satisfaction with its fringe benefits will motivate him to greater performance.
1.6 SIGNIFICANCE OF THE STUDY
The findings would enable effective management of employees towards achieving organizational goals. The study will enable managers of First Bank of Nigeria to identity how Performance can be improved through effective and efficient motivation. It will also be of benefit for policy makers in various forms of business organization. It will be of immense guide to future researchers who intends to exploit and understand further concepts of motivation as a managerial tool to enhance Performance in an organization like First Bank of Nigeria.
1.7 SCOPE OF THE STUDY
The study is based on motivation and employee performance, a case study of First Bank of Nigeria Uyo, Akwa ibom state.
1.8 LIMITATION OF STUDY
Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
1.8. BRIEF HISTORY OF FIRST BANK NIGERIA PLC
First Bank of Nigeria Limited (“FirstBank”), established in 1894, is the premier Bank in West Africa, Nigeria’s number one bank brand and the leading financial services solutions provider in Nigeria. The Bank was founded by Sir Alfred Jones, a shipping magnate from Liverpool, England. With its head office originally in Liverpool, the Bank commenced business on a modest scale in Lagos, Nigeria under the name, Bank of British West Africa (BBWA).
In 1912, the Bank acquired its first competitor, the Bank of Nigeria (previously called Anglo-African Bank) which was established in 1899 by the Royal Niger Company. In 1957, the Bank changed its name from Bank of British West Africa (BBWA) to Bank of West Africa (BWA). In 1966, following its merger with Standard Bank, UK, the Bank adopted the name Standard Bank of West Africa Limited and in 1969 it was incorporated locally as the Standard Bank of Nigeria Limited in line with the Companies Decree of 1968.
Changes in the name of the Bank also occurred in 1979 and 1991 to First Bank of Nigeria Limited and First Bank of Nigeria Plc, respectively. In 2012, the Bank changed its name again to First Bank of Nigeria Limited as part of a restructuring resulting in FBN Holdings Plc (“FBN Holdings”), having detached its commercial business from other businesses in the FirstBank Group, in compliance with new regulation by the Central Bank of Nigeria (CBN). FirstBank had 1.3 million shareholders globally, was quoted on The Nigerian Stock Exchange (NSE), where it was one of the most capitalised companies and also had an unlisted Global Depository Receipt (GDR) programme, all of which were transferred to its Holding Company, FBN Holdings, in December 2012.
Building on of its solid foundation, the Bank has consistently broken new ground in the domestic financial sector for over a century and two decades. FirstBank is present in the United Kingdom and France through its subsidiary, FBN Bank (UK) Limited with branches in London and Paris; and in Beijing with its Representative Offices there. In October 2011, the Bank acquired a new subsidiary, Banque International de Credit (BIC), one of the leading banks in the Democratic Republic of Congo. In November 2013, FirstBank acquired ICB in The Gambia, Sierra-Leone, Ghana and Guinea, and in 2014, the Bank acquired ICB in Senegal. These were major landmarks in its plan for growing its sub-Saharan African footprint and all the African subsidiaries now bear the FBN Bank brand.
As the global operating environment evolves, FirstBank has kept pace, responding to the dynamic needs of its customers, investors, regulators, host communities, employees and other stakeholders. Through a balanced approach to plan execution, FirstBank has consolidated its industry leadership by maintaining trans-generational appeal. Thus, the Bank has continuously boosted its customer-base, which cuts across all segments in terms of size, structure and sectors.
Leveraging experience spanning over a century of dependable services, FirstBank has continued to build relationships and alliances with key sectors of the economy that have served as strategic building blocks for the wellbeing, growth and development of the country. With its huge asset base and expansive branch network, as well as continuous re-invention, FirstBank is Nigeria’s strongest banking franchise, maintaining market leadership on all fronts in the nation’s financial services industry.
1.9. DEFINITION OF TERMS
Motivation: Internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal.
Employee: A person that works especially at manual or industrial labour or with a particular material.
Performance: The accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed. In a contract, performance is deemed to be the fulfillment of an obligation, in a manner that releases the performer from all liabilities under the contract.
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