THE EFFECT OF MONETARY INCENTIVE ON WORKERS PERFORMANCE IN NIGERIAN ORGANISATION (A CASE STUDY OF AUTOSTAR GALLARY LIMITED ENUGU)
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THE EFFECT OF
MONETARY INCENTIVE ON WORKERS PERFORMANCE IN NIGERIAN ORGANISATION
(A CASE STUDY OF
AUTOSTAR GALLARY LIMITED ENUGU)
ABSTRACT
In all organisation,
productivity is beckoned on the design of its incentive variables to balance
various management levels. There are several incentive variable that
could motivate people to work to their optional level and when these variables
are not there, their productivity will greatly affected. This may come in
the form of a will packed remuneration. Still others may not necessarily
be motivated with a well packaged incentive scheme. The group believe
that money is not every thing. Autostar Gallary Limited is not an
exceptional.
In generating data
needed to achieve the objectives of the study, descriptive survey research
design was adopted. Questionnaire was not as the major instrument for
primary data collection. To broaden the researcher’s depth of knowledge
in the study area the research embarked upon review of related literatures with
data drawn from secondary sources. Data generated in the study was
present on frequency tables and analysed using simple percentage while the
hypothesis were tested with two test.
It was realized at
the end of the research work that most organization cannot get the best out of
their organisation goals and objectives because of absent of monetary
incentives, workers are not allowed to join in deciding affairs that concern
them etc. arising from the findings, the study recommended monetary incentive
apart from other types of incentives used by the organizations, effective
administration of incentive schemes, and participatory management.
Finally, the study
concluded that monetary incentives make the workers were satisfied with the
treatment give to them, the organization will achieve its goals, targets and
objective in here short time.
TABLE OF CONTENTS
CHAPTER
ONE
INTRODUCTION
1.1
General background to the study
1.2
Statement of the problem
1.3
Purpose of the study
1.4
Scope of the studyesearch hypothesis
1.5
Significance of the study
1.6
Limitations of the study
1.7
Definition of terms
CHAPTER
TWO
LITERATURE RE VIEW
2.0
Incentive and productivity
2.1
Directly related productivity
2.2
Concept of inceptive system
2.3
Types of incentive scheme
2.4
Autostar Gallary Limited
2.5
Summary of review of related literature
References
CHAPTER
THREE
3.0
Research design
3.1
Area of the study
3.2
Population of the study
3.3
Sample and sampling process
3.4
Instrument for data collection
3.5
Validation of the instrument
3.6
Reliability of the instrument
3.7
Method of data collection
3.8
Method of data analysis
CHAPTER
FOUR
DATA
PRESENTATION AND ANALYSIS
4.0
Data presentation and analysis
4.1
Presentation and analysis of data
4.2
Testing of hypothesis
4.3
Summary of the results.
CHAPTER
FIVE
DISCUSSIONS,
RECOMMENDATIONS AND CONCLUSIONS.
5.0
Discussion, re commendation and conclusions
5.1
Discussion of results / findings
5.2
Conclusions
5.3
Implications of research findings
5.4
Recommendations
Bibliography
Appendix i
Appendix ii
CHAPTER
ONE
INTRODUCTION
Sometimes, one
wonders why some people perform more than others on the job or better still why
people work hand. Man in his natural form is somehow lazy and always
tries to granitite towards his comfort zone unless some kind of forces or
situation confronts him. It is this force or situation that arouses his
desire or more out of this comfort zone in order to avert negative consequences
or reap a positive reward as the case may be. This force of situation now
becomes the motive for his working towards his set target (motivating factor).
Given the above
illustration, management scholars have tired to define what motivation is all
about.
The Webster
Encyclopedic Dictionary of the English Language (1975) said that motivation
relates to the sense, need or fear etc. that prompts an individual to
act. Also Wole Adewunmi (1992) defined motivation as “the inner stimulus
that induces one to behave the way he does” it has to do with that inner states
that energizes, activates or moves and therefore directs behaviour towards
goals
In all organization,
productivity is beckoned on the design of its incentive variable to balance
among various management levels.
There are several
incentive variables that could motivate people to work to their optimal level
and when these variables are not there, their productivity will be greatly
affected. This may come in the form of a well packaged
remuneration. Still others may not necessarily be motivated with well packaged
incentive scheme. The group believe that money is not everything”
Starke (1976:35) is
of the opinion that “people work for broadly defined rewards” these rewards can
be broken down into general classes known as intrinsic and extrinsic rewards.
Extrinsic rewards includes the figure
pay proportion, compliments etc and are often independent of the task performed
and are control by other people.
Intrinsic reward on the other hand
include the feeling of accomplishment of task and is administered by the
individual doing the task. However, workers performance in an
organisation depends on these rewards among other incentives which may in one
way or the other command job satisfaction.
1.0
BACKGROUND OF THE STUDY
Incentives are
objectives or goals which are capable of satisfying what the employee views as
need, drive or desire. It includes accelerated payment for improved
productivity as well as environment conditions. For example,
infrastructures transportation facilities, canteen services etc. though they do
no directly provide income to workers, but are necessary for their effective
performance. In other words, incentives do not only refer to usages payment but
other things like job enrichment, free flow of information good relationship among
junior and senior officers. Above all, the recognition accorded to individuals
by society to their contribution also goes a long way to induce and energize
them to work harder to achieve not only the organizational goals but also
societal goals.
It is worthy of not
that such incentives like, monetary rewards which may motivate the younger
people who are beginners or the lower class of people in the society may not
necessarily be motivating factor for some middle class and upper class of
people in the society. People in the society, people in various positions even
though at a similar level, must be given incentives that reflect their
individual performance and expectations.
A higher performance
must be rewarded more than the lower performance for a feeling of equity to
prevail. Given this, money is likely to be a motivator variables remuneration
has been favoured as the means of giving employees incentives to produce or
sell increased volume or to improve the quality of their performance.
In most business and
other organizations, money is actually used in keeping an organization
adequately staff and not primarily as a motivator. Any bonus scheme for manual
workers should be related to criteria which are meaningful to the employees and
which are capable of being measured consistently. The incentive to achieve one
particular objective for example, increased volume, should not act as an
incentive to worsen other standards of achievement like quality. It is
therefore, important to know what induces worker most, as many people have
different needs and aspirations. People work for various reason, depending on
what they want or what they are looking forward to achieving. Here, it is the
duty of the management of any organization to find out the needs of its employees
and then demand efforts toward attaining them.
Incentives which may be seen as payment
or reward for work or service rendered have been a common feature in Nigeria
establishments to which Autostar Gallary Limited is not an exception. It is
therefore, the objective of this that could motivate workers to greater
achievement.
Management scholars
and other employers of labour will also find this work every useful as it would
enable them to be vast of the value of incentives to performance of workers, if
appropriately applied, this will in effect bring greater efficiency of workers
if adequately employed.
Furthermore, students
and other people who wish to carry out a similar study in other establishment
will find this work beneficial as the ideas exposed in this work will be a
guide in the right direction.
Autostar Gallary
Limited, for over a century, has distinguished itself as a leading and
major contributor to the economic advancement and development of Nigeria.
EXECUTIVE.
The three ED that is the executive
director, each managers in the department are accountable to the managing
director. The DMC, the LD and the ED domestic communications, the long
distance.
Under it we have
order general managers like deputy, the general managers have order deputies around
them before the leader. Apart from cooperate headquarter Autostar Gallary
Limited have zonal administration each is headed by the GENERAL MANAGERS
example south, east zone and north west zone, Lagos zone and south west zone.
And it operate in three tears.
Each have deputy
general manager as head of department, administration, finance all are
accountable to the general manager of the zone.
In the third tears
administration structure the exist territorial management heed by the TMS ie.
Territorial managers. Territorial management are chief executive of the various
states. Example, SMA, SMM, SMSS, SM planning and works and territorial
accountants, each have specific role and function. The get the works of
Autostar Gallary Limited at territorial zone. Autostar Gallary Limited still
practice what one may call fouth tear.
Fourth tear:- The exchange area
administration each exchange is being headed by functions of territorial
managers by extension line, intellection take place and their customer.
It is upon this
structural arrangement that Autostar Gallary Limited operation render service
to their numerous customers.
1.2
THE STATEMENT OF THE PROBLEM
It is fundamentally unrealistic to
assume that people would continue to find satisfaction in co-operating in
organization’s affairs, if no interest is shown in their individual needs and
problems.
It is agreed that in
spite of whatever gains must have been achieved in ensuring adequate
compensation among workers around the world, existing compensation programmes
have failed to attract hold and motivate employees because the individual
worker is not considered and he did not participate in the planning and
designing of such incentives before its execution or implementation.
However, the economic and social
development of Nigeria depends to a great extent on the ability of the public
services to attract and retain the services of qualified man power. Therefore,
the concept of total compensation programme has economic, social, behavioral
and legal basis consequence. To what extent is this recognized by the Autostar
Gallary Limited incentive scheme on the performance of workers in the company?
1.3
PURPOSE OF THE STUDY
The
above problems bring to fire the following sub-problems
(a)
What type of incentive schemes are available in Autostar Gallary Limited?
(b)
Are employees of the company actually reaping benefit which provides job
satisfaction from these scheme?
(c)
Is Autostar Gallary Limited attaining the main objectives for administering
these scheme?
(d)
To examine the different types of incentives scheme put in place by Autostar
Gallary Limited.
(e)
To do an in depth analysis of Autostar Gallary Limitedincentives schemes and
productivity trend over the years.
(f)
To examine the extent to which these incentives schemes lead to attainment of
job satisfaction and motivation of workers.
(g)
To test the effectiveness, adequacy and relevance of these incentives schemes
to the overall performance of individual worker or group of workers.
(h)
To examine the extent the organization is achieving its objectives for
administering these incentive schemes.
1.4
SCOPE OF THE STUDY
This study is aimed
at investigating the effect of monetary incentive scheme for the performance of
workers in an organization. Autostar Gallary Limited Enugu as a model
organization was used. Because of resource constraints a branch of Autostar
Gallary Limited was studied. All the department and cadres of employees were
covered in the study, to examine incentives and its administration in Autostar
Gallary Limited. The study will also evaluate the appropriateness of the
programme with a view to ascertaining how they influence workers to perform
efficiently which results in an increase in the organizational productivity.
Finally, the study will also address the impact of the incentive on the
existing workers as well as those that have left the organization.
1.5
RESEARCH QUESTIONS
1.
To what extent is the effectiveness, adequately relevance of these incentives
schemes to the overall performance?
2.
To what extent are these different types of incentives scheme put in place by
the Autostar Gallary Limited?
3.
To what extent do the existing compensation programmes failed to attract, hold
and motivate employees?
4.
To what extent is the incentive scheme lead to attainment of job satisfaction
and motivation of the workers?
5.
To what extent are the employees of the company actually reaping benefits who
provides job satisfaction from the schemes?
6.
To what extent is Autostar Gallary Limited, attaining the main objectives for
administratering these schemes?
1.6
RESEARCH HYPOTHESIS
Hypothesis have been formulated to
guide the collection of data.
Hypothesis one:
(a)
Autostar Gallary Limited incentives scheme has no impact on the employee’s job
performance
(b)
Autostar Gallary Limited incentives scheme has an impact on the employee’s job
performance
Hypothesis
two:
(a)
All cadres of workers in Autostar Gallary Limited are not involved in planning
the incentive scheme.
(b)
All cadres of worker in Autostar Gallary Limited are involved in planning the
incentive scheme.
1.7
SIGNIFICANCE OF THE STUDY
It is hoped that this
study when completed will assist business enterprises in their operations and
enable then to employ incentive schemes and other motivational variables that
would optimize the productivity and performance of their operations.
The study when
completed will identify the motivational factors and incentive variables, if
any, that are currently militating against the smooth operations of the firm in
area of its job performance and productivity, that management find useful for
future planning.
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