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Full Project – The impact of motivational financial incentives on organizational performance

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CHAPTER ONE

INTRODUCTION

BACKGROUND TO THE STUDY

The purpose or aim of any supervisor is to see the employees are performing efficiently to produce result that is beneficial to the organization. The means of making employees work efficiently is however difficult to determine.

Motivation is an inducement given to employees in order to be productive. It is inner states that energize, activate or moves and direct or channel behavior towards goals. The “motivation” was derived from the latin word which means move. Adams, J.S (1965).

There are two basic types of motivation: Intrinsic motivation: Is the motivation that is within the individual, it internally generated, hence it is not manipulated. Extrinsic motivation: is an external one, it is not with the person (example incentives) it is therefore manipulability hence it can be influence or changed.

The motivated behaviour is expected to bring favourable reward or prevent negative reward. The problem of managers is how best to motivate employees.

Motivation can be positive or negative, positive motivation sometimes refers to as anxiety-reducing motivation or the “carrot approach” offers something

valuable to the person, for example pay praise or the possibility of becoming a permanent employee, while negative motivation often called “the stick approach” use or threaten, punishment, for example reprimands. Threats of dismissal e.t.c if performance is unacceptable, which ever approach is going to adopt would depend on the particular circumstance.

The problem of motivating employee as organized activity, itself, but it was just recently that the scientific method was brought to bear in its solution, this beginning of attempt to apply the conceptual and methodological tools of the relationship between man’s motivation and his work as well as to the management issues involves in that relationship.

There are different methods used in motivating employees some of them are:

Pay
Job security

Reduction of working labour

Fringe benefits or incentive scheme
Job participation

Increase the motivation of person ability will lead to a greater increase in performance, when organization persistently and continuously suffer from low productivity, poor performance and inefficiency it may be assumed that enterprise or organization is having problem with effective management of wage and salaries administration. The relationship between the employer performance.

STATEMENT OF THE PROBLEM

There has always been a contention among employers in the traditional school of thoughts that financial reward is all what the employee wants and that there is no limit to how money can be used to motivate worker. The question is, is it possible for employees to be financially motivated.

Here are some of the problems which research proposes to study and find answer to it.

Despite high salary staff come to office late:

Fair labour standard act:

If you are classified as an “exempt” employee, your employer is supposed to pay you for a full day even if you are late. If the employer treats you like an hourly employee, docking you (or firing you) if you are late, you might be misclassified under the fair labour standards Act. That means your employer could be liable for all the time they docked, plus all your overtime worked.

Early closure from work: when the university has announced that it is closed, non-essential staff employees will be excused from work and will be paid their normal rate.

Non-chalant attitudes: sometimes, a non-chalant person acts indifferent or uninterested, but really cares very much. If you give a girl a nonchalant smile, you definitely want her to notice you. Even though it begin with non, nonchalant has no positive form.

Lack of discipline: reason for lack of self-discipline this ability is one of the most important requirements for achieving success.
Lack of commitment to duty: staff don’t speak up even when they know things are not being dealt with honestly and directly. This is relatively easy to spot, especially in meeting. Everyone knowns important issues are not been addressed. Yet they fail to speak up because of fear or cynicism.

Also initiative to improve organizational performance progressing slowly or stalling altogether, despite sizable investments in resources and technology.

Insubordinate to constituted authority: if it was anywhere else but in the office, insubordination can refer to someone who is disrespectful or disobedient. But is definition is more specific in a corporate setting, and should not be confused with insolence. Insubordination at work is when an employee refuses to obey a direct order from a supervisor. In a legal aspect, it can also mean willful or intentional disobedience of a lawful and reasonable request by a supervisor. It may also refer to disrespectful or harassment that is directed toward a supervisor.

Lack of discipline: one of the biggest problems people face is the lack of discipline- they have goals or habits they want to achieve, but lack that discipline needed to stick with it.
Despite the able to increase its performance or productivity.

Performance and productivity is resulted in multiple interpretations of the concept of productivity, despite the fact that able to offer is explained, increased its profits and at the same time decrease it productivity because of market.

Even though there is motivation some employees are leaving one organization to another: Employees quit their job for many reasons. They follow spouses across the country. Stay home with children, and go back to school. Those reasons are tough to address by an employer because they involve life events in the employee’s world outside of work. But, the majority of reasons why employees quit their job are under the control of the employer. In fact, any element of your current workplace, your culture and environment, the employees perception of his job and opportunities are all factors that the employer affects.

OBJECTIVES OF THE STUDY

The main objective the study is to examine out at the motivational impact of finance on employee’s performance in achieving organizational objective or goal with reference to Kogi State University, Anyigba.

The study designed to:

Determine the impact of motivational incentives on organizational performance.
Suggest ways by which organization can effectively motivate employees by recognizing the importance of the well-motivated work group in setting high performance goals before the employees.
Make recommendation for further improvement in employee’s motivation where necessary.

SIGNIFICANCE OF THE STUDY

After completion, this study is expected to show the motivational effect of finances on employee and identify the weakness and possible area where incentive schemes could be more effective. It will also go along way in helping future researchers and student alike who have interest in studying the effect of financial.

RESEARCH HYPOTHESIS

To enhance this study, the following hypothesis would be used

Hypothesis one

Null hypothesis (Ho): There is no relationship between motivational incentives and organizational performance.

Alternative hypothesis (Hi): There is relationship between motivational incentives and organizational performance.

Null hypothesis (Ho): Motivational incentive did not have positive impact on employee’s performance.

Alternative hypothesis (Hi): Motivational incentive did not have positive impact on employee’s performance.

1.6 SCOPE OF THE STUDY

This is focused on the impact of motivational incentives on organizational performance with references to Kogi State University Anyigba e.g. (2010-2015).

LIMITATION AND CONSTRAINTS

In the course of the research, the constraint or problem encountered are enumerated.

Time factor: There are time when researcher will lectures which must be attended and this may coincide with an appointment at the case study of the schedules time for review of lecture.
Dearth of relevance data: most of the information or data used comes from the educated ones and secondary sources, like official statistics, publication and administrative data.
Lack of money also contributed to the limitation of the study. The cost had great impact on the study since no adequate means were available.

DEFINITION OF KEY TERMS

Motivation: according to Fred, (2003), motivation means anything positively done by the employee to influence his or her action or encourage him or her to put in more effort.
Employees: According to Cole (2008) employees are people who engaged in physical and mental activities for which there are economic rewards, although this may not be the primary issue or purpose of doing the job.
Performance: according to Ulrich (1998) defined performance as the ability of an individual employee to bring out what is expected of him or her in the course of carrying out its job. He stated that this ability to produced or perform is a function of the potential power of an individual employee, his training and motivation. And the “employee performance” can be the rated which goods and services are produced by the people engaged in physical and mental activities with economic rewards.
Efficiency: according to Ezigbo (2008) efficiency means the action of an operation agent or fitness or power to accomplish a setting goal in an organization.
Needs: according to Abraham, need simply means state of deprivation that demand fulfillment, by Maslow’s hierarchy of need indicates.
Organization: according to Kotler (1997), organization means any form of organized humans being activity engaged in a commercial or industrial act of providing goods and services to the society with aims of making profit.
Incentive: according to Lucta (2003), incentive means a change in pay. It can also be describe as something extra in the sense that it is added to the income that is ready guaranteed or accepted.
Participation: according to Unyimadu, (2004) participation is the act of partaking or involved, the need to share or partake physically or mentally in an event, for instance the act of involving the workers to take part in decision making performing well and seeing to the smooth running of the organization for which they work.
Management: according to Mark (1996) management means the act of getting things done through other people. In the view of Mark Parker Pollet, this is usually possible through two resources which is finance and people.
Money: according to Lipsey (1997) money is a piece of metal or paper that is generally acceptable in exchange for goods and services, money as used in this text include wages or salary, bonus payments and fringe benefit.

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