Effect of Workers Incentives on Employees' Productivity In The Banking Sector of The Economy: A Case Study Of Access Bank Nigeria PLC

Abstract

Research Background: How organizations can enhance employee productivity is a great concern to business owners and organizations, this is why several organizations and scholars have demonstrated great interest in different systems and practices that can be used to enhance employee productivity. One of these practices is incentives, which is used to stimulate employee to achieve a desired level of productivity. Thus, the subject of incentives continues to contend with the input level and the corresponding output an organization gets from their employee. Research Purpose: In view of the paucity of studies investigating the effect of all the dimensions of incentives on the overall productivity level of banks employee and the impact of the different types of incentives on the diverse employee cadre, the study seeks to examine the effect of workers incentives on productivity. Research Objectives: The study was guided by three research objectives, namely: 1. To examine the effect of financial incentives on worker's productivity in the Nigerian Banking Industry; 2. To investigate the effect of non- financial incentives on worker's productivity in the Nigerian Banking Sector; 3. To determine the relationship between financial and non-financial incentives and worker's productivity in the Nigerian Banking Industries. Method: This study adopted a descriptive survey research design. Primary data for the study was collected using a structured questionnaire administered to the employee of selected banks in the study area. Conclusion: This study has made an important and unique contribution to literature. The research has demonstrated a significant effect of non-financial (intangible) workers incentives on productivity. Also, the study has demonstrated that the different types of incentives motivate employees differently depending on the cadre. Overall, the study found that incentives predict productivity.