Below is a brief overview of this Project Work.
Format: MS WORD
| Chapters: 1-5
| Pages: 66
THE IMPACT OF EMPLOYEE’S ATTITUDE TOWARDS MOTIVATION
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Although there is a general agreement among psychologist that man experience a variety of needs, there is considerable disagreement as to what these needs are and their relative importance. There have been a number of attempts to present models of motivation which list a specific number of motivation needs, with the implication that these list are all-inclusive and represent the total picture of needs. Unfortunately, each of these models has weaknesses and lapses, and we are still without a general theory of motivation. All organizations are concerned with what should be done to achieve sustainable high levels of performance through people. Consequently, the subject of adequate motivation of workers as derived from 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.
A lot of theoretical concept, principles and techniques of management have provided responses to these challenges. In general management, authors have intended to view motivation as a key component of the managerial function of leading or directing. In any serious and competitive society workers are one of the tools for economic progress in which their welfare must be taken into serious consideration because without a dedicated workforce, an organization crumbles. The term “work attitude” refers to effective orientation on the part of individuals towards work roles, which perform in their respective work places. Work attitude could also be referred to as the way an individual feels about his/her work and organization as an entity. It is either the job is pleasant, good and satisfying or the job is unpleasant and brings no satisfaction.
In a moral sense, attitudes are characteristic and usually a long lasting way of feeling and thinking. Infact, behaviour of an individual is a reflection of his or her attitude towards a given object. In an organization, employees develop a favourable or positive work attitude when their desires are fulfilled. They equally develop an unfavourable or negative work attitude whenever their desire are not fulfilled. Such situation which includes poor job performance, hostility, non-chalant attitude in work situation, lack of commitment, inefficiency, strike and other unpleasant behaviors constitute reasons for developing negative attitude towards their jobs.
The nation (Nigeria) reward system is probably the poorest in the entire globe were an average take home of worker is put at $35 per month. Workers are used and abused, harassed, threatened, offended and discarded without any appreciation for their contribution to their organization and to the society at large. If workers are discontented or dissatisfied with their job, this would cause an overall decline in their effectiveness as workers, which will lead to low productivity and ineffectiveness of the organization. It is therefore apparent that the issue of adequate motivation of workers has relevance in managerial function and activities that are aimed at directing the productive effort of the workforce towards achieving organizational goals.
How can we create situation in which employees can satisfy their individual needs while at the same time working towards the goals of the organization? Various kinds of devices have been adopted to answer this question and make people work hard, but they do not seem to be very satisfactory unless forms of motivation are afforded as well.
According to Nwachukwu (1988) motivation is those energizing forces that induce or compel and maintain behaviour. Also, Appleby (1994) defined motivation as an urge aspiration, drivers and need which human being direct or control to explain their behaviour. Motivation is an internal psychological process whose presence or absence is inferred from observed performances. Motivation involves a three stage cycle consisting of need(s), a drive and goal. Furthermore, it is impossible to understand motivation considering what people or workers want and expect from their job. This is because people view work differently and this is reflected in their job satisfaction or dissatisfaction. Therefore, management can achieve its goals by motivating people to work for achievement of organization objectives. Motivation is a complex motion that manifest itself in different ways in different people. Whether satisfaction is high or low depends on a number of persons’ needs and wants through work, working conditions, the extend to which an individual defend himself through work (such as pay, supervision and benefits) or to the work itself. The importance of motivation on employee’s attitude to work serves as an inducement to arouse researchers’ interest in the study.
1.2 STATEMENT OF THE PROBLEM
The management of most organizations have often emphasized on motivation as the main determinant of employer’s work attitude. For example, why do people behave the way they do in work situation? What do employees want in tier work? What gives job satisfaction? What induce workers to give their best? Question such as these are concerned with the motivation of people at work and this has for long fascinated researcher today, they are pressing concerns of managers. It is against this background that this study is set out to assess the impact of motivation on employees’ work attitude.
1.3 PURPOSE OF THE STUDY
It is true that numerous factors account for employees’ work attitude. It is however not enough for intending managers to know these factors, it is also necessary to actually understand the relationship between these factors as they influence employees’ work attitude.
The specific objective to this includes;
To examine the impact of motivation on employees attitude to work;
To provide an insight into the causal factors responsible for differences in employees work behaviour and performance in organization;
To determine how these factors actually influence or shape work attitudes;To determine the relationship between motivation and high productivity or performance;
To suggest measures for achieving positive attitude to work among employees in an organization;
1.4 SIGNIFICANCE OF THE STUDY
It is explained that this research may serve as a guide to Union Bank Plc, and other interested users for proper implementation of necessary strategies to embark upon in order to gain competitive advantage in the industry in which they operate. The ability to realize her vision of vanity to be “The foremost Financial institution with the most satisfied customers” can only be realized if only sound strategies are put in place in carrying out its motivation exercise. The findings from this study would help to further highlight the likely problem of frustrations and how motivation can be used to either reduce or eliminate these problems amongst staff of the organization.
The result from this study will assist management in these other areas.
highlights the concept of group dynamics and staff behaviour or attitude to work; enables the organization identifies various types of needs and expectation of people at work; if managerial is setting meaningful returns on motivation; how can job be re-designed so as to incorporate the rewards sought by employees? explains the majority and underlying concepts of motivation. Through such understanding, the administrative scope of the chief executive officers could be broadened and this would put them in a better position to review and over-haul their orientation to administration in terms of better motivating staff and producing better result by fully utilizing the human resources available.
1.5 RESEARCH QUESTIONS
The following research questions were asked for clarity sake and for direction to this research work.
Is there any significant relationship between motivation of workers and productivity?
Would workers who are dissatisfied significantly perform at their lowest ebb?
iii. Is there any significant relationship between employee’s welfare and attitude to work?
Would additional incentives after employees are well motivated spur them to be more efficient?
1.6 RESEARCH HYPOTHESES
H1: There is significant relationship between motivation of workers and productivity.
H2: There is significant relationship between employee’s welfare and attitude to work?
H3: Additional incentives after employees are well motivated will significantly spur them to be more efficient.
1.7 SCOPE OF THE STUDY
It is of great importance to note that this study is limited to Union Bank Nigeria Plc. This is to say that employee of the organization automatically form the sample frame for this research work. Union Bank of Nigeria Plc has a very wide scope, therefore, the research approach is going to be an all-embracing one in which Union Bank of Nigeria Plc Folagbade, Ibadan Road, Ijebu-Ode will be consider. It is hoped that the findings and recommendations will be of immense advantages to Personnel managers of the Union Bank of Nigeria Plc as a whole.
1.8 LIMITATION OF THE STUDY
An ideal and a very exhaustive research would have been to study all the employee of Union Bank Nigeria Plc with a network of over 300 branches across the country. But, this would have been an inevitably cumbersome exercise, considering the wide scope to be covered. For the fact that researcher is faced with different constraint, it will not be possible to involve all the staff of the organization outside Union Bank of Nigeria Plc Folagbade, Ibadan Road, Ijebu-Ode. Finally, the survival apathy amongst Nigeria culture toward research work may also hinder accessibility to prospective respondents who are to provide needed data, it is necessary to limit the scope to the Union Bank of Nigeria Plc Folagbade, Ibadan Road, Ijebu-Ode.
1.9 HISTORICAL BACKGROUND OF UNION BANK PLC
Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa, with an asset base estimated at US$826 million. That asset value makes it the 9th largest commercial bank in Nigeriaby asset valuation. The bank has several subsidiary companies and non-subsidiary affiliates: Subsidiaries
Union Homes Savings and Loans Plc.
Union Trustees Limited
Union Assurance Company Limited
Union Bank United Kingdom Plc.
Banque Internationale du Benin, Cotonou
UTL Communications Services Limited
UBN Property Company Limited
Union Capital Markets Limited
Union Registrars Limited
Affiliated companies
Consolidated Discounts Limited
HFC Bank Ghana Limited
Unique Venture Capital Management Company Limited
The bank was founded in 1917 as Colonial Bank. In 1925, Barclays Bank acquired Colonial Bank, changing the bank’s name to Barclays Bank (Dominion, Colonial and Overseas) or Barclays Bank (DCO). In 1969, Barclays Bank DCO was incorporated in Nigeria, as Barclays Bank of Nigeria Limited, to comply with new banking laws enacted in 1968. In 1971, the shares of the bank stock were listed on the Nigerian Stock Exchange. In the same year, 8.33% of the bank’s shares were offered to Nigerians. The following year, the Federal Government of Nigeria acquired 51.67% ownership of the bank, leaving Barclays Bank Plc of London with 40% ownership. In 1979, that 40% was sold to Nigerian individuals and businesses to comply with then recently enacted banking and investment laws. The bank changed its name to Union Bank of Nigeria Plc., to reflect its new ownership structure. In 1993, the Federal Government of Nigeria completely divested its ownership in the bank. Subsequently, Union Bank of Nigeria Plc. acquired the former Universal Trust Bank Plc. and Broad Bank Limited. It also absorbed its former subsidiary Union Merchant Bank Limited.
The bank changed its name to Union Bank of Nigeria PLC to reflect the new ownership structure and in compliance with the Companies and Allied Matters act of 1990; it assumed the name Union bank of Nigeria that same year (1990).
Union Bank at the Brink of Liquidation
The Central Bank of Nigeria bailed out eight of the country’s 24 banks in 2009, pumping N620 billion Naira into the industry to prevent their collapse. The rescued banks had until the end of September to recapitalize or merge with new investors to avoid liquidation. The Central Bank of Nigeria (CBN) gave eight rescued banks four months to fully recapitalize or risk being liquidated. This followed the collapse of merger talks between the managements of some of the rescued banks and potential investors, as well as the delay in their recapitalization process,. The eight rescued banks had in 2009 failed a special examination jointly carried out by auditors from the CBN and the Nigerian Deposit Insurance Corporation (NDIC).
The exercise had exposed major weaknesses of poor corporate governance, inadequate risk management practices, huge non-performing loans, drastic capital erosion and severe liquidity problems in the banks, making the CBN to inject N620 billion into them. The affected banks are, Intercontinental Bank PLC (now Access Bank), Finbank PLC, Spring Bank PLC, Afribank, PLC, Oceanic Bank International Nigeria PLC (now ECO Bank), Equatorial Trust Bank, Union Bank of Nigeria Plc and Bank PHB plc
Ownership
As of October 2011[update], the owners of the shares of Union Bank of Nigeria include the following corporate entities and individuals.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Although there is a general agreement among psychologist that man experience a variety of needs, there is considerable disagreement as to what these needs are and their relative importance. There have been a number of attempts to present models of motivation which list a specific number of motivation needs, with the implication that these list are all-inclusive and represent the total picture of needs. Unfortunately, each of these models has weaknesses and lapses, and we are still without a general theory of motivation. All organizations are concerned with what should be done to achieve sustainable high levels of performance through people. Consequently, the subject of adequate motivation of workers as derived from 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.
A lot of theoretical concept, principles and techniques of management have provided responses to these challenges. In general management, authors have intended to view motivation as a key component of the managerial function of leading or directing. In any serious and competitive society workers are one of the tools for economic progress in which their welfare must be taken into serious consideration because without a dedicated workforce, an organization crumbles. The term “work attitude” refers to effective orientation on the part of individuals towards work roles, which perform in their respective work places. Work attitude could also be referred to as the way an individual feels about his/her work and organization as an entity. It is either the job is pleasant, good and satisfying or the job is unpleasant and brings no satisfaction.
In a moral sense, attitudes are characteristic and usually a long lasting way of feeling and thinking. Infact, behaviour of an individual is a reflection of his or her attitude towards a given object. In an organization, employees develop a favourable or positive work attitude when their desires are fulfilled. They equally develop an unfavourable or negative work attitude whenever their desire are not fulfilled. Such situation which includes poor job performance, hostility, non-chalant attitude in work situation, lack of commitment, inefficiency, strike and other unpleasant behaviors constitute reasons for developing negative attitude towards their jobs.
The nation (Nigeria) reward system is probably the poorest in the entire globe were an average take home of worker is put at $35 per month. Workers are used and abused, harassed, threatened, offended and discarded without any appreciation for their contribution to their organization and to the society at large. If workers are discontented or dissatisfied with their job, this would cause an overall decline in their effectiveness as workers, which will lead to low productivity and ineffectiveness of the organization. It is therefore apparent that the issue of adequate motivation of workers has relevance in managerial function and activities that are aimed at directing the productive effort of the workforce towards achieving organizational goals.
How can we create situation in which employees can satisfy their individual needs while at the same time working towards the goals of the organization? Various kinds of devices have been adopted to answer this question and make people work hard, but they do not seem to be very satisfactory unless forms of motivation are afforded as well.
According to Nwachukwu (1988) motivation is those energizing forces that induce or compel and maintain behaviour. Also, Appleby (1994) defined motivation as an urge aspiration, drivers and need which human being direct or control to explain their behaviour. Motivation is an internal psychological process whose presence or absence is inferred from observed performances. Motivation involves a three stage cycle consisting of need(s), a drive and goal. Furthermore, it is impossible to understand motivation considering what people or workers want and expect from their job. This is because people view work differently and this is reflected in their job satisfaction or dissatisfaction. Therefore, management can achieve its goals by motivating people to work for achievement of organization objectives. Motivation is a complex motion that manifest itself in different ways in different people. Whether satisfaction is high or low depends on a number of persons’ needs and wants through work, working conditions, the extend to which an individual defend himself through work (such as pay, supervision and benefits) or to the work itself. The importance of motivation on employee’s attitude to work serves as an inducement to arouse researchers’ interest in the study.
1.2 STATEMENT OF THE PROBLEM
The management of most organizations have often emphasized on motivation as the main determinant of employer’s work attitude. For example, why do people behave the way they do in work situation? What do employees want in tier work? What gives job satisfaction? What induce workers to give their best? Question such as these are concerned with the motivation of people at work and this has for long fascinated researcher today, they are pressing concerns of managers. It is against this background that this study is set out to assess the impact of motivation on employees’ work attitude.
1.3 PURPOSE OF THE STUDY
It is true that numerous factors account for employees’ work attitude. It is however not enough for intending managers to know these factors, it is also necessary to actually understand the relationship between these factors as they influence employees’ work attitude.
The specific objective to this includes;
To examine the impact of motivation on employees attitude to work;
To provide an insight into the causal factors responsible for differences in employees work behaviour and performance in organization;
To determine how these factors actually influence or shape work attitudes;To determine the relationship between motivation and high productivity or performance;
To suggest measures for achieving positive attitude to work among employees in an organization;
1.4 SIGNIFICANCE OF THE STUDY
It is explained that this research may serve as a guide to Union Bank Plc, and other interested users for proper implementation of necessary strategies to embark upon in order to gain competitive advantage in the industry in which they operate. The ability to realize her vision of vanity to be “The foremost Financial institution with the most satisfied customers” can only be realized if only sound strategies are put in place in carrying out its motivation exercise. The findings from this study would help to further highlight the likely problem of frustrations and how motivation can be used to either reduce or eliminate these problems amongst staff of the organization.
The result from this study will assist management in these other areas.
highlights the concept of group dynamics and staff behaviour or attitude to work; enables the organization identifies various types of needs and expectation of people at work; if managerial is setting meaningful returns on motivation; how can job be re-designed so as to incorporate the rewards sought by employees? explains the majority and underlying concepts of motivation. Through such understanding, the administrative scope of the chief executive officers could be broadened and this would put them in a better position to review and over-haul their orientation to administration in terms of better motivating staff and producing better result by fully utilizing the human resources available.
1.5 RESEARCH QUESTIONS
The following research questions were asked for clarity sake and for direction to this research work.
Is there any significant relationship between motivation of workers and productivity?
Would workers who are dissatisfied significantly perform at their lowest ebb?
iii. Is there any significant relationship between employee’s welfare and attitude to work?
Would additional incentives after employees are well motivated spur them to be more efficient?
1.6 RESEARCH HYPOTHESES
H1: There is significant relationship between motivation of workers and productivity.
H2: There is significant relationship between employee’s welfare and attitude to work?
H3: Additional incentives after employees are well motivated will significantly spur them to be more efficient.
1.7 SCOPE OF THE STUDY
It is of great importance to note that this study is limited to Union Bank Nigeria Plc. This is to say that employee of the organization automatically form the sample frame for this research work. Union Bank of Nigeria Plc has a very wide scope, therefore, the research approach is going to be an all-embracing one in which Union Bank of Nigeria Plc Folagbade, Ibadan Road, Ijebu-Ode will be consider. It is hoped that the findings and recommendations will be of immense advantages to Personnel managers of the Union Bank of Nigeria Plc as a whole.
1.8 LIMITATION OF THE STUDY
An ideal and a very exhaustive research would have been to study all the employee of Union Bank Nigeria Plc with a network of over 300 branches across the country. But, this would have been an inevitably cumbersome exercise, considering the wide scope to be covered. For the fact that researcher is faced with different constraint, it will not be possible to involve all the staff of the organization outside Union Bank of Nigeria Plc Folagbade, Ibadan Road, Ijebu-Ode. Finally, the survival apathy amongst Nigeria culture toward research work may also hinder accessibility to prospective respondents who are to provide needed data, it is necessary to limit the scope to the Union Bank of Nigeria Plc Folagbade, Ibadan Road, Ijebu-Ode.
1.9 HISTORICAL BACKGROUND OF UNION BANK PLC
Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa, with an asset base estimated at US$826 million. That asset value makes it the 9th largest commercial bank in Nigeriaby asset valuation. The bank has several subsidiary companies and non-subsidiary affiliates: Subsidiaries
Union Homes Savings and Loans Plc.
Union Trustees Limited
Union Assurance Company Limited
Union Bank United Kingdom Plc.
Banque Internationale du Benin, Cotonou
UTL Communications Services Limited
UBN Property Company Limited
Union Capital Markets Limited
Union Registrars Limited
Affiliated companies
Consolidated Discounts Limited
HFC Bank Ghana Limited
Unique Venture Capital Management Company Limited
The bank was founded in 1917 as Colonial Bank. In 1925, Barclays Bank acquired Colonial Bank, changing the bank’s name to Barclays Bank (Dominion, Colonial and Overseas) or Barclays Bank (DCO). In 1969, Barclays Bank DCO was incorporated in Nigeria, as Barclays Bank of Nigeria Limited, to comply with new banking laws enacted in 1968. In 1971, the shares of the bank stock were listed on the Nigerian Stock Exchange. In the same year, 8.33% of the bank’s shares were offered to Nigerians. The following year, the Federal Government of Nigeria acquired 51.67% ownership of the bank, leaving Barclays Bank Plc of London with 40% ownership. In 1979, that 40% was sold to Nigerian individuals and businesses to comply with then recently enacted banking and investment laws. The bank changed its name to Union Bank of Nigeria Plc., to reflect its new ownership structure. In 1993, the Federal Government of Nigeria completely divested its ownership in the bank. Subsequently, Union Bank of Nigeria Plc. acquired the former Universal Trust Bank Plc. and Broad Bank Limited. It also absorbed its former subsidiary Union Merchant Bank Limited.
The bank changed its name to Union Bank of Nigeria PLC to reflect the new ownership structure and in compliance with the Companies and Allied Matters act of 1990; it assumed the name Union bank of Nigeria that same year (1990).
Union Bank at the Brink of Liquidation
The Central Bank of Nigeria bailed out eight of the country’s 24 banks in 2009, pumping N620 billion Naira into the industry to prevent their collapse. The rescued banks had until the end of September to recapitalize or merge with new investors to avoid liquidation. The Central Bank of Nigeria (CBN) gave eight rescued banks four months to fully recapitalize or risk being liquidated. This followed the collapse of merger talks between the managements of some of the rescued banks and potential investors, as well as the delay in their recapitalization process,. The eight rescued banks had in 2009 failed a special examination jointly carried out by auditors from the CBN and the Nigerian Deposit Insurance Corporation (NDIC).
The exercise had exposed major weaknesses of poor corporate governance, inadequate risk management practices, huge non-performing loans, drastic capital erosion and severe liquidity problems in the banks, making the CBN to inject N620 billion into them. The affected banks are, Intercontinental Bank PLC (now Access Bank), Finbank PLC, Spring Bank PLC, Afribank, PLC, Oceanic Bank International Nigeria PLC (now ECO Bank), Equatorial Trust Bank, Union Bank of Nigeria Plc and Bank PHB plc
Ownership
As of October 2011[update], the owners of the shares of Union Bank of Nigeria include the following corporate entities and individuals.
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