Get the complete project »
- The Complete Research Material is averagely 44 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
The study explore the impact of Monetary incentives on employees' performance. Eighty three employees of Abdul Gusau polytechnic and state college of education both in Zamfara state were handed structured questionnaire to solicit data on Monetary incentives and performance. The dependent variable is employees' performance while the independent variable is Monetary iincentives (salary/wages, bonus/incentives).Pearson correlation and multiple regression model were used to analysed the data using SPSS 22.0 and E-views 9.0. The finding suggested that the is a strong and positive relationship between Monetary iincentives and employees' performance and that salary/wage and bonus/incentives also serve as a form of motivation to the employees. The study recommends Prompt payment of salaries, wages and all entitlements and encouragement of employees' participation in pay determination.
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 Monetary incentines. 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.
1.1 STATEMENT OF THE PROBLEM
In any organization tasks are performed with the help of resources; material, machine, money and most importantly men. All other resources except for human beings as employees are non-living. Employees make use of these resources to generate output without them other resources will be useless, dormant and will not produce anything. Therefore, human resource is the greatest asset any organization can have and should be given the highest priority. (Ojeleye & Okoro, 2016). Similar view is supported by Zaman (2011), he argued that human resource provides basis for an organization to achieve sustainable competitive advantage.
Since organizations are operating in a dynamic and competitive business environment, they need to develop strategies to acquire and retain the competent workforce. He also emphasize, nowadays human asset considered to be the most important asset of any organization and in order to get the efficient and effective result from human resource motivation is necessary Monetary incentines is traditionally seen as the total income of an individual and may comprise a range of separate payments determined according to different rules. For example, the total Monetary incentines of medical staff may comprise a capitation fee and a fee for services, or it may include a salary and shared MONETARY risk (Buchan, Thompson & O'May, 2000). Organizations need highly performing individuals in order to meet their goals, to deliver the products and services they specialized in, and finally to achieve competitive advantage.
Performance is also important for the individual. Accomplishing tasks and performing at a high level can be a source of satisfaction, with feelings of mastery and pride. Low performance and not achieving the goals might be experienced as dissatisfying or even as a personal failure. Moreover, performance if it is recognized by others within the organization is often rewarded by MONETARY and other benefits. Performance is a major although not the only prerequisite for future career development and success in the labor market. Although there might be exceptions, high performers get promoted more easily within an organization and generally have better career opportunities than low performers (VanScotter, Motowidlo, & Cross, 2000) Sonnentag & Frese (2001).
Therefore the neglect of many organization to compensate their employees with adequate MONETAR Incentives is retarding the efforts and productivity of many employees.The research seek to appraise the effect of Monetary incentive on workers performance in Nigerian organization.
1.2 OBJECTIVES OF THE STUDY
1. To examine the role of salaries, wages, bonus and incentives play as motivational tools in improving employees’ performance.
2. To determine the relationship between Monetary incentines and employee performance.
3. To make suitable recommendations on the important or otherwise of Monetary incentines.
1.3 RESEARCH QUESTIONS
1. What is the role of Monetary incentives such as salaries, wages, bonus as motivational tools in improving employees’ performance.
2. .What is the relationship between monetary incentines and employee performance.
3. What suitable recommendations on the important or otherwise of Monetary incentines are available
1.4 STATEMENT OF THE HYPOTHESIS
The following null hypotheses will be test
H01: Monetary incentines does not play any vital role in motivating employees’ performance
H02: There is no significant relationship between Monetary incentines and employees' performance.
1.5 SIGNIFICANCE OF THE STUDY
The study provides an appraisal which will serve as a motivation for managers to effectively deploy Monetary incentives to improves employees performance and the over performance of the organization.
1.6 SCOPE OF THE STUDY
The study focuses on the appraisal of the effect of Monetary incentive on workers performance in Nigerian organization.
1.7 LIMITATION OF THE STUDY
The study was confronted my logistics and geographical factors
1.8 DEFINITION OF TERMS
MONETARY INCENTIVES DEFINED
MONETARY incentives may mean the amounts paid to employees, either in the form of a lump sum or in the form of monthly payments or in any other form which serves as additional income to an employee. It is considered the oldest forms of incentives which is characterized by quick and immediate form that make employee feel of an immediate feedback of their effort in meeting the organizational goal. Lawzi  defined MONETARY incentives as a set which may satisfy basic human needs, encourage employee to do their best, and increase the level of their competences such as through prompt payment of salary, bonuses, allowances, profit sharing and rewards.
EMPLYEE PERFORMANCE DEFINED
Hellriegel, Jackson and Slocum (1999) defined performance as the level of an individual's work achievement after having exerted effort.
JOB PEFORMANCE DEFINED
Job performance can be viewed as an activity in which an individual is able to accomplish the task assigned to him/her successfully, subject to the normal constraints of reasonable utilization of the available resources
Share a Comment
You can find more project topics easily, just search
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
1. ACCOUNTING INFORMATION AND ITS ROLE IN THE MANAGEMENT OF BUSINESS ORGANIZATION (A CASE STUDY OF ZENITH BANK PLC)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Listed companies use financial statements as one of the major medium of communication with their ...Continue Reading »
63 pages | 139 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.1 Background to the Study According to the World Bank Countries income groups, Nigeria has been classified as a lower middl...Continue Reading »
137 pages | 95 hits | Source: ACCOUNTING
» ABSTRACT Over the years, there have being a problem of incorrect and unreliable financial record which has lead to loss of organizational integrity. T...Continue Reading »
50 pages | 182 hits | Source: ACCOUNTING
» ABSTRACT This study focus on corruption and economic crimes in the public sector with a particular reference to ministry of finance, Lagos state. The ...Continue Reading »
52 pages | 0 hits | Source: ACCOUNTING
5. EVALUATING TAX ADMINISTRATION IN UYO AKWA IBOM STATE; PROBLEMS AND PROSPECTS (A STUDY OF AKWA IBOM STATE INTERNAL REVENUE SERVICE UYO)» ABSTRACT The aim of this study is to assess and evaluate the problems and prospects of tax administration in Akwa Ibom State. The study employs a surv...Continue Reading »
52 pages | 277 hits | Source: ACCOUNTING
» The article on this topic (mergers and acquisition as growth strategies in Nigeria) is an extract from literature review of the project material. The ...Continue Reading »
67 pages | 218 hits | Source: ACCOUNTING
» ABSTRACT This research was aimed at finding out the impact of public sector accounting in Nigeria financial control system using Esan south east local...Continue Reading »
68 pages | 0 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.1 Background of the study The Accountability and transparency has been critical issue in financial management of local gove...Continue Reading »
62 pages | 256 hits | Source: ACCOUNTING
» ABSTRACT The recent phenomenon of distress banks and consequent liquidation of some of those banks have alteated closer attention from the government,...Continue Reading »
52 pages | 197 hits | Source: ACCOUNTING
10. EFFECT OF CREDIT ADMINISTRATION AND CONTROL ON THE DEVELOPMENT OF COOPERATIVE SOCIETIES IN NIGERIA» CHAPTER ONE INTRODUCTION 1.1 Background of the Study This research work focuses on the effects of credit administration and control on the development...Continue Reading »
52 pages | 294 hits | Source: ACCOUNTING