TITLE:
Effect of Motivational Strategies on Employee Performance in Nigerian Commercial Banks
AUTHORS:
Taiwo Akinsola, Hadiza Abubakar Saidu, Taiwo Adewale Muritala, Akeem Adewale Bakare
KEYWORDS:
Motivational Strategies, Employee Formal Recognition, Employee Performance
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.11 No.9,
September
19,
2023
ABSTRACT: The objective of this research is to investigate the connection between
motivational strategies and employee performance, as well as the role of
employee formal recognition as a mediator between these motivational strategies
and performance. Data were collected from a sample of 579 employees using a
simple sampling technique, resulting in 497 usable responses and a response
rate of 85.84%. Structural equation modeling (SmartPLS 4.0) was employed to
analyze the relationships between the variables. Among the 10 hypothesized
paths, 8 were supported. Motivational strategies (salary satisfaction, working
environment, bonus and fringe benefit & training and development) except
job security significantly influence employee performance; herein training and
development has the greatest effect on employee performance. This study also
reveals that employee formal recognition partially mediates in the link between
motivational strategies and employee performance except for job security. These
findings will provide valuable insights for banks and other stakeholders in
understanding the importance of motivational strategies and employee formal
recognition in enhancing employee performance within the banking sector. This
study is one of the first of its kind to explore the mediating role of employee
formal recognition in the relationship between motivational strategies and
employee performance specifically in the Nigerian banking sector.