The Nexus between Employee’s Motivation and Organizational Performance in some selected Banks in Akure Metropolis
Emmanuel Olaniyi Dunmade & Ademola Segun, Aderibigbe
Department of Business Administration, Federal University of Technology, Akure, Nigeria
Department of Management and Accounting, Obafemi Awolowo University, Ile – Ife
Email: niyidunmade@yahoo.co.uk, aderibigbeademolasegun@gmail.com
Corresponding Author: Emmanuel Olaniyi Dunmade
ABSTRACT
This paper examines the nexus between employee’s motivation and organizational performance, using some selected banks in Akure metropolis. The objectives are: to investigate which motivational packages influence employees’ performance and to assess the influence of motivational packages on the corporate performance. Survey research design which allows the use of questionnaire was utilized to obtain information from the employees of the selected banks. Simple random sampling technique was used to carry out the study in four banks namely, First Bank Nigeria Plc, Heritage Bank Plc, Eco Bank Plc and United Bank for Africa Plc. Spearman Rank Order Correlation was employed to test the hypotheses. This study concludes that there is significant relationship between employee’s motivation and organizational performance. The finding shows the results of Spearman rank order correlation analysis for relationship between motivational packages and employee performance. The correlation coefficient for the variables was 0.315. The value indicates a weak but positive relationship between motivational packages and employee performance. Since correlation is significant at the 0.01 level (1-tailed) for this research and the significance probability value is less than 0.01 (i.e. 0.007<0.01). The finding further shows the relationship between motivational packages and banks’ performance. The correlation coefficient for the variables was 0.315. The value indicates a weak but positive relationship between motivational packages and banks’ performance. The value is significant since correlation is significant at the 0.01 level (1-tailed) for this research and the significance probability value for the relationship is less than 0.01 (i.e. 0.007<0.01).The study therefore recommends that adequate motivational packages should be given to the employees in the banks on a regular basis as these will not only prompt them to give out their best to their, but will also enhance their work outputs for the banks.
Keywords: Motivation, Performance, Extrinsic, Intrinsic, Incentive, Rewards.
