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The Extent Of Motivation In The Turnover Of Employees In An Organization.
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1.3 SIGNIFICANCE OF THE STUDY
The study is significant in the sense that it will enable the bank and other organizations to be aware of the importance of their human resources and also that by motivation, their human resource will improve their objectives.
The study will also provide information on factors which best motivates staffs of any organization, it is also hoped that this study will serve as a resourceful material for further research into this subject matter and also broaden over knowledge on motivation.
1.4 SCOPE AND LIMITATION OF THE STUDY
The study focuses on the way motivational techniques are being used in organization using the Guaranty Trust Bank Plc (GTB) Ilorin branch as a case study. It also tries to find out if the organization as ever used any motivational techniques with its employees and to know how the employees responded to such act.
This study is, however, limited as a result of time and resources. Due to the limited time made available to the researcher for the completion and submission of study and also the limited time in getting response from the respondents. It was quite difficult to cover all aspect of the study, although they will be covered and quite acceptable.
Finances has also being a limitation to this research work, it would have been ideal to use several topics is being used by the organization, but this would amount to little financial input than is available.
However, even with the limitation encountered during the course of the research, the quality of information gathered was impressive, and it is hoped that the study will serve as a reference point for other researches.
HYPOTHESIS
The hypothesis to be tested in the study are highlighted thus:
Ho - Performance doesn’t increase it are recognized for doing a good job
Hi - Incentives lead to improvement in employee’s performance.
1.5 HISTORICAL BACKGROUND AND ORGANIZATION CHART OF THE STUDY
Guaranty trust Bank plc was incorporated in July 1990, as a private limited liability company wholly owned by Nigerian individual as institution.
The bank was licensed as a commercial bank in August 1990 and commercial operation in February 1991.
In September 1996, Guaranty Trust Bank became a publicly quoted company, winning the prestigious Nigeria stock exchange “presidents merit award in its first year on stock exchange and gain in the year 2000 and 2003, the bank’s initial public offer in 2001 and subsequent offer in 2004 were largely successful, proof of general acceptance by the investment. The bank has always been committed to awarding excellent cash returns to shareholders on their investment.
In its second year of operation (1991) GT Bank declared a profit after tax of N42million, and promptly paid a divided of N1.25million to its shareholders. The following year 1993 and intern divided was paid for the first time. The sum of (N25million) was also paid from a profit after tax of N319million. This sets a lasting tradition and now the Bank remains an existing institution in Nigeria that pays both intern and fund dividends each financial year. Using a base period of November 2001, shareholders have reaped returns over 400% on their investment.
The bank obtained a universal banking license in February 2002 giving credence as an excellent financial services provider, the bank’s financial capacity to meet obligations as they fall has led to a credit risk rating by August and co-limited, one of the foremost credit rating agencies in Nigeria, the bank introduced e-banking services in the last three years, it has been rated as the best amongst those of other Nigerian banks. The bank was appointed as a settlement bank by the central bank of Nigeria (CBN) in 2003.
The bank has, over the years, been a recipient of several awards of superior financial performance, superior customer services delivery excellent share performance, management efficiency etc. In 2001, it clinched too pearl awards for quoted companies on the stock exchange in the dividend yield and sectored leadership categories in 2002, it received the corporate issuers table award from rulers-SBET Research in 2003, the bank was nominated for, a consumer sensitivity award in the banking sector for consumer services excellence.
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