Non-Monetary Motivation Strategies and Growth of Selected Deposit Money Banks in Ogun State, Nigeria

Non-Monetary Motivation Strategies and Growth of Selected Deposit Money Banks in Ogun State, Nigeria

Author by Dr. Babatunde Akinlabi

Journal/Publisher: Research On Humanities And Social Sciences

Volume/Edition: 8

Language: English

Pages: 75 - 86

Abstract

The challenge facing managers in the banking sector is how to get employees committed to their work and put in
their best towards the accomplishment of banks’ goals and objectives. There was gradual and consistent decline
in the performance of banks due to low level of motivation within and outside the banking organizations. It is
therefore imperative for managers in the banking sector to design and implement strategies and policies that will
adequately address issues relating to employees’ welfare so that it will help in achieving industrial peace which
is a panacea to  organizational  growth. The  general  objective  of this study  was to establish the effect  of non-
monetary  motivational strategies  on the  growth  of selected deposit money banks in Ogun State, Nigeria. The
study adopted cross-sectional survey and target population was 800 staff of the selected commercial banks in
Ogun State and sample of 481 employees was used in this study. A stratified sampling technique method was
used and data was collected through the use of questionnaire. A pilot study was conducted to pretest the validity
and reliability of instruments for data collection. The data was analyzed by use of quantitative method with the
help  of  Statistical  Package  for  Social  Sciences  (SPSS)  version  21.0.  The  study  established  that  work
environment,  leadership  style,  training  and  career  advancement  have  positive  and  significant  effect  on  the
growth  of  selected  deposit  money  banks  in  Ogun  State,  Nigeria.  The  regression  analysis  showed  that  work
environment plays the most significant role on the growth of selected deposit money banks in Ogun State at 5%
level  of  significance.  Based  on  these  findings,  the  study  recommended  that  management  of  selected  deposit
money banks in Ogun State should plan very well when considering motivational strategies aimed at increasing
overall productivity of the workers so as to achieve growth.


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