IMPACT OF MOTIVATION ON THE PRODUCTIVITY OF EMPLOYEES AT GTBANK GHANA

IMPACT OF MOTIVATION ON THE PRODUCTIVITY OF EMPLOYEES AT GTBANK GHANA

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TABLE OF CONTENTS
6
PAGES
Title page..............................................................................................................................i
Declaration...........................................................................................................................ii
Dedication...........................................................................................................................iii
Acknowledgement..............................................................................................................iv
Abstract………………...………………………………………………………………….v
Table of contents………...………………………………………………………………..vi
List of figures…………….……………………………………………………………….ix
List of tables……………...……………………………………………………………......x
CHAPTER ONE INTRODUCTION
1.1 Background of Study...............................................................................................1
1.2 Statement of the Problem.........................................................................................2
1.3 Research Objectives ................................................................................................4
1.4 Research Questions..................................................................................................4
1.5 Hypotheses...............................................................................................................5
1.6 Significance of the Study.........................................................................................5
1.7 Scope of the Study...................................................................................................6
1.8 Overview of Methodology.......................................................................................7
1.9 Limitation.................................................................................................................7
1.10 Organisation of Study..............................................................................................8
CHAPTER TWO LITERATURE REVIEW
7
2.0 Introduction .............................................................................................................9
2.1 Empirical Evidence on Employee Motivation.......................................................10
2.2 Theories of Motivation..........................................................................................14
2.2.1 Abraham Maslow Theory......................................................................................14
2.2.2 Fredrick Winslow Taylor Theory of Motivation...................................................19
2.2.3 Frederick Herzberg Theory of Motivation.............................................................20
2.3 Incentives as Motivational Tools ..........................................................................22
2.4 Types of Motivation...............................................................................................25
2.4.1 Extrinsic Motivation..............................................................................................25
2.4.2 Intrinsic motivation................................................................................................28
2. 4.3 Non-material incentives.........................................................................................28
2.4.4 The Psychology of Tangible Non-Monetary Incentives.......................................29
2.5 Effects of Motivation on Productivity...................................................................30
2.5.1 Effects of Motivation on Performance………..………………………………….31
CHAPTER THREE RESEARCH METHODOLOGY AND ORGANISATIONAL PROFILE
3.0 Introduction............................................................................................................32
3.1 Population of study................................................................................................32
3.2 The sample size......................................................................................................32
3.3 Research Instrumentation.......................................................................................33
3.4 Instrument scoring Scale........................................................................................34
3.5 Data Collection Procedure……………………………………………………….35
3.6 Data Analysis Technique.......................................................................................35
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3.7 Profile of Guaranty Trust Bank Ghana Limited....................................................36
CHAPTER FOUR DATA PRESENTATION ANALYSIS AND DISCUSSION OF RESULTS
4.0 Introduction ...........................................................................................................38
4.1 Analysis of Data ....................................................................................................38
4.2 Discussion of the Results.......................................................................................38
4.3 Test of Hypothesis.................................................................................................66
CHAPTER FIVE SUMMARY OF FINDINGS, CONCLUSION AND
RECOMMENDATION
5.0 Introduction ...........................................................................................................74
5.1 Summary of Findings ............................................................................................74
5.2 Conclusion and Recommendations........................................................................78
5.3 Suggestions……………………............................................................................81
Reference ………………………………………………………………………………..82
Appendix …………………………………………………….………………………….88
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LIST OF FIGURES
Figure 1: Respondent population..............................................................................38
Figure 2: Incentives are important for motivation of workers..................................39
Figure 3 Workers put in their best when they are placed on little or no
incentive package......................................................................................49
Figure 4 Well-motivated staff has a positive attitude towards work.......................55
Figure 5 Workers will still perform well even if their salary is delayed.................58
Figure 6 Staff work best when working equipment and facilities are
adequately provided..................................................................................62
Figure 7 Rewarding good work and excellence can contribute to more
excellence and healthy competition...........................................................65
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LIST OF TABLES
Table 1 It is important that the Chief Executive Officer motivate staff................41
Table 2 It seems that fat salaries are the best tools with which to motivate
Workers to increase productivity.......................................................`.......53
Table 3 Workers’ welfare should be a paramount issue of concern to top management who wish to have higher productivity..................................57
Table 4 Inter-Personal relationship between top management and staff
should be encouraged................................................................................59
Table 5 Recreational facilities are important in every organization.......................60
Table 6 Favoritism on the part of the MD/CEO can contribute
too much productivity…………………………………………………....61
Table 7 Receiving credit for work done affects your morale at work....................63
Table 8 Working attitude is affected by the challenges encountered
on the job...................................................................................................64
Table 9 Only monetary rewards can bring out the best in workers........................66
Table 10 Question 5 & 8 test of hypotheses contingency table...............................68
Table 11 Question 4&15 test of hypotheses contingency table...............................71
CHAPTER ONE
INTRODUCTION
1.1 Background of Study
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All organizations are concerned with what should be done to achieve sustained high levels of performance through people. Consequently the subject of adequate incentives for workers, as derived from the so many attempts made by management practitioners, is to look for the best way to manage so as to accomplish an objective or mission with the least inputs of materials and human resources available.
Certain problems of inadequate motivation however do arise as it concerns certain individuals who come into the work situation with differences in expectation, behavior and outlook. These problems of individual motivation inadequately may be divided into two categories. Firstly, the inability of certain individuals to be motivated may stem from the fact that there is a deficiency in their personality. For such people, the desire to avoid failure may be too strong while paradoxically, the motive to produce positive results may be too weak. This could produce a general resistance to achievement-oriented activity that should naturally be overcome by other extrinsic modes of motivation if there is to be any spur to achievement oriented activity at all. Secondly, even when the achievement motive is relatively strong, the challenges before the individual worker may be proven to be inadequate or too difficult, which ever of these that apply to the individual worker will usually manifest themselves in different ways such as lack of enthusiasm or premature surrender (Bryans and Crouin, 2005).
In spite of all these apparent attendant problems of motivation, and productivity, every organisation do necessarily seek means of ensuring continuous productivity, which would be geared towards the accomplishment of organisation goals. The organizational system under study cannot be said to be different in any way, in terms of producing the results
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for which it was set up. In all these processes the private organisation and indeed the banking industry has thus helped to make Ghana the country it is today.
This study will examine to what extent the financial and non-financial incentives such as achievement, job security, recognition, advancement, job enrichment or the job itself, responsibility, decisional participation and management style employed to raise the morale of the worker for high productivity. The study identifies elements that promote human dignity and thus raise the morale of the worker for higher productivity. The study further investigates the effect of non financial incentive packages here referred to as ‘non-economic motivators’ on the workers and the consequent output of GT Bank Ghana. For the purpose of this study then, non-economic motivators is used to refer to those factors which are not necessarily computable in monetary terms but which drive’ the human mind from within to behave in a desired way and to the maximum realization of the organizational objectives while adequate motivation is simply defined as contentment, fulfillment or job satisfaction.
1.2 Statement of the Problem
Ghana is reputed to be a conducive environment for investments. Recent exploratory works have indicated that the country has a large reserve of oil. The country therefore has the potential of becoming a leading industrialized (if the potential are properly harnessed) nation in the world in the not-too-distant future due to this natural endowment.
The current state of affairs in the nation in general as relating to the workforce motivation makes it necessary to temper this optimism with caution. “The workers are on strike again.”Over what? “They are asking for another pay rise after the one granted just a few
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months ago.” What more do they want? These statements and comments and many similar ones are reported frequently in the dailies and are commented upon by watchers of development in various industry and service organizations. The questions are often asked as to what workers in general want from their employers. Can there be an end to the clamour for increases in wages? Why do workers work and what induces them to give of their best? Money only plays the role of common denominator of all things. There is a general notion that if only management can identify other things that can motivate the workforce apart from money, perhaps there will be a dramatic reduction in the demand by workers for pay rises. Less time will be spent on the annual ritual of management/workers union negotiation meetings (Badu, 2010).
The general problem inherent in the organizational set up is low salaries, irregular promotional structure and lack of recognition of workers achievements. All these tend to dampen workers morale and consequently affect their productivity. The aim of this research therefore is to find out the type of incentive package that needs to be given to workers of and whether workers, given the right incentives other than money can put in their best to contribute to the productivity and growth of the organizations to achieve the corporate objectives.
1.3 Research Objectives
The main objective of the study is to investigate into the impact of motivation on productivity of employees at GT Bank.
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Specifically, the study seeks to
1. Determine how motivation influence the staff of GT Banks approach to work
2. Find out any relationship between motivational factors and the performance of staff of GT Bank and
3. Establish whether motivation has any influence on the staff of GT Bank.
1.4 Research Questions
The research will attempt to retain answers to the question agitating the minds of management of organizations as to what to do to adequately motivate workers to
contribute their quota to their company’s productivity and growth. The study will answer the following research questions:
1. Is there any relationship between motivation and higher performance productivity?
2. Is there any relationship between motivational factors and attitude to work of staff?
3. How does motivation influence workers approach to work and their performance?
1.5 Hypotheses
The following hypotheses have been formulated for testing:
• Hypothesis 1.
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There is no significant relationship between incentives and work productivity for of GT Bank.
• Hypothesis 2.
Monetary incentives and rewards exert a stronger influence on workers than any other form of motivational incentives. .
1.6 Significance of Study
The findings from this study will help to highlight those areas where there are problems among staff and thus will be of great benefit to the management of organizations and policy makers. The results of this study would hopefully be significant in the sense that it would enable both the management and the labour union to better understand how the various incentive packages could be harnessed to inspire staff to increase and sustain productivity.
The findings from this study would help to further highlight the likely problems of frustrations and how motivation can be used to either reduce or eliminate these problems amongst staff of the organisation. The results from this study will help to highlight the concept of group dynamics and staff behaviour to work. Through such understanding, the administrative scope of the chief executives official could be broadened and this would put him in a better position to review and over-haul their orientation to administration in terms of better motivating staff and thus producing better results by fully utilizing the human resources potentials available.
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Furthermore this study will be of immense benefit to policy makers in the human resources functions of the organizations. Also labour union officials and representative at the negotiation meeting will find it useful when putting together their “basket of needs” and it will assist management in these other areas:
• Designing and putting in place together welfare incentives for the workforce
• Enables the organization identifies various types of needs and expectation of people at work.
• Outline different approach to work motivation.
• Explain the meaning and underlying concert of motivation.
1.7 Scope of the Study
The relationship between the bank and its employees is governed by what motivates them to work and the fulfillments they derive from it. The manager needs to understand how to elicit the cooperation of staff and direct their performance to achieving the goals and objectives of the organization. This study is delimited to GT Bank Ghana Limited. The work force to be covered within the context of the project will include contract, permanent and management staff. This study is further delimited in terms of the organizational sub-sets of familiarity, concern and driving force as well as approach to work.
1.8 Overview of Methodology
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The research made extensive use of both primary and secondary data. Primary data was obtained by administering a well-structured questionnaire to respondents in the selected bank. Interviews were also conducted from the bank to access the information on incentive package by the bank. GT Bank Ghana’s reports, the Internet, magazines, trade journals, were collected for the study. The questionnaire and interview method were used in soliciting information from respondents. The questionnaire was the most extensively used instrument comprises of open-ended and close-ended questions. The open-ended questions were meant to solicit the respondents’ own opinions of the study. The close-ended questions on the other hand, were used to ensure that respondents chose between the options that were provided to them. Both the open-ended and close-ended questions focused on the different research questions posed. Interview method was also used to solicit information from the managers and employees of the selected bank.
Having finished with the data collection, percentages, tables and bar graphs were used to organize, summarize and analyze the data. The Chi Square analysis was used to test the hypothesis proposed.
1.9 Limitation
One area of constraint in carrying out this research was the difficulty of circulating the research instrument in the different branches of the bank due to the high level of security surrounding the work area and offices and also for the fact that there are branches scattered almost all over the country.
Another constraint was the general apathy among Ghanaian culture towards research work which hindered accessibility to prospective respondents who were to provide the needed data.
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Another limitation was the difficulty some staff, especially, some contract staff, had reading and understanding the questions posed in the questionnaire
1.10 Organization of Study
Chapter one introduces the study with the Background, statement of problem, objectives, significance of study and limitation. The chapter two reviewed literature on the empirical evidence of employee motivation, motivational theories, types and effects of employee motivation. The chapter three deals with the methodology used in the study with the fourth chapter analysing and presenting of data. The final chapter, five, contains the summary of findings, conclusion and recommendation.

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