TITLE:
The Effectiveness of Motivational Strategies on Productivity in Selected Financial Institutions in Nigeria
AUTHORS:
Mofoluke Omilani, Morakinyo Akintolu
KEYWORDS:
Motivation, Strategies, Productivity, Financial Institutions
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.7 No.7,
July
7,
2017
ABSTRACT: This
study examined the effectiveness of motivational strategies on productivity,
with reference to First Bank of Nigeria and Union Bank of Nigeria employees.
The study adopted the descriptive survey research design. The findings revealed
that there is positive relationship between motivational strategies and
employees’ productivity. The result demonstrated that The financial strategies
available to employees are leave allowances, bonus and fringe benefits paid
when due, availability and accessibility of medical insurance, pension fund
scheme and the non-financial strategies are promotions as at when due, training and friendly work
environment contribute immensely to high productivity of employees. The finding
indicated that motivational strategies have significant influence on
productivity of workers as it makes workers put in
their best always, and manage to use it
as a tool to motivate and increase productivity, and influences workers’ attitude towards work doing impact on the morale of workers and helps workers
put in their best. There is a significant effect of promotion, allowances and
benefits medical insurance scheme, pension fund scheme, work environment on
productivity. Motivational strategies in the workplace enhance high level of
productivity. The following recommendations were made; the management needs to
improve salaries, benefits from time to time and improve the working condition
of workers. Also give a sense of recognition, belongingness, chance to
contribute and flexibility in approaches to conflicts with the workers.