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PERFORMANCE APPRAISAL AND STAFF MOTIVATION IN THE FINANCIAL SECTOR, PORT HARCOURT

Abstract

The main purpose and objective of the study is to explore and examine the performance appraisal and staff motivation in the financial sector, Portharcourt, Rivers state. Data was collected through the questionnaire. The sample size consists of 75 staffs of Eco bank, Portharcourt. Convenience sample was used to collect the data due to time and resource constraints. For analysis, mean and standard deviation were used. Reliability analysis was used to check the reliability of the data. Results of analysis show that there is overall positive relationship of work performance with the performance appraisal and motivation of the staffs of banking sector. This will help the other researchers in knowing the relation between them in depth. This will help and guide the organization in implementing the performance appraisal system for their employees and motivate them to get high performance. This will help them to enhance the work performance of their organization

 

 

 Chapter one

Introduction

  • Background of the study

The use of staff performance appraisal and motivation policy by most organization in Nigeria has increased overtime. With the advancement in the level of technology and evolution of new ideas in marketing, it is very important to note that performance appraisal and motivation in contemporary business organizations cannot be overemphasized. Some view it as potentially “the most crucial aspect of organizational life” (Lawrie, 1990). Performance appraisal and motivation have increasingly become an integral part of the human resource function of any profit – making organization. Performance appraisal and motivation when practiced effectively, to a larger extent can contribute to growth of an organization.

According to Macmillan English Dictionary for Advanced Learners (2002), “growth is an increase in the success of a business or a country’s economy or in the amount of money invested in them”. Any profit-making organization will seek to achieve growth in terms of sales, profit or expansion through performance. Growth has been ingrained in Americans as “the path of success”. Organizational growth cannot be a reality if the performance of its workers is not appraised for an improvement or reinforcement of performance. According to Donegan (2002), “success will to a larger extent depend on the organization’s ability to evaluate progress and also hold accountable those charged with executing certain tasks”. This is exactly what performance appraisal and motivation strategies seek to do. It aims at evaluating the performance of the staff against standard set thereby taking corrective actions if necessary. In many organizations performance appraisal and motivation is used for the purpose of administering wages and salaries after feedback had been given to the staff. The appraisal also helps management to identify individual staff’s strength and weakness. The latter will lead to training and other measures to correct inefficiencies.

Performance appraisal and motivation strategies may be viewed as an overall measure of organizational effectiveness. Organizational objectives are met through the efforts of individual staffs. Teaching staffs how to do their jobs and evaluating their performances are strategic human resource function and for that matter should not be relegated to the background. “Maximizing performance is a priority for most organization today”, Mathis et a1 (2004). It is then obvious that performance appraisal and motivation strategies as a management tool is cardinal to contributing to organizational success. If employee performance is improved, the organization raises it performance in terms of meeting it objectives. On the other hand, if employee performance is not improved it adversely affects performance hence organizational productivity.

Motivation approaches definitely satisfy the needs of the employees and in return, the employee repays it through their hard work. Identifying the needs and answering it is the most basic approach of every organization to earn the commitment of the employees (Chughtai, 2008). With a well-motivated workforce, an employee’s performance can be manifested on the organizational effectiveness, which allows the individuals to focus on the development of their work, in terms of behaviour, skills and knowledge, ethics and effectiveness. It has been noted that motivation tends to energize the workforce which can result in their expected job performance (Byham and Moyer, 2005). Again, the motivational process increases or influence the job performance and other work outcomes of an individual that can reach to the employees’ outmost performance and even their jobs satisfaction (Strain, 1995 and Chughtai, 2008). Many organizations are seeking for a suitable means to motivate their staff in order to help increase the total output of their employees. In today’s increasing competitive marketplace, organizations need to have well planned and expected processes for managing and enhancing the performance of their employees. However, the system used to motivate employees may have potentially negative effect on their morale if not properly used or applied. This has become a big challenge to most organization, particularly the service industry or organization. The service industry is one of the major contributors of Gross Domestic Product (GDP) and the socio-economic development of the country. Quality service delivery is very important and this has called for measures to ensure that services delivered to customers are of good standard. A well-motivated staff will deliver satisfactorily to exceed the expectation of customers and this will intend to attract and retain customers so as to meet the ultimate objective (profitability). However, this is not the case in most organization including the financial sector. Arguably, it can be said that no employees would resist higher pay or an increase in salary since it would offer him /her an opportunity to do a lot of things such as paying his/her utility bills, paying school fees, buying clothes, cars, land and so forth. Because salaries are generally low in Nigeria, some of the employers erroneously feel that once their staffs are given higher salaries, every other thing would naturally follow. Abraham Maslow the father of motivation (1943) holds the view that “unsatisfied needs serve as a motivation for individual or group of people”. He identified five (5) hierarchy of needs which are physiological need, safety needs, social needs, esteem needs and self-actualization. And when a need is satisfied, he says it does not serve as motivation again it is the next need that matters. The study therefore in this regard wishes to examine performance appraisal and staff motivation in the financial sector in Portharcourt, Rivers state

1.2 Conceptual framework

Based on literature review a conceptual framework has been developed. Literatures grounding to support the relationships for the developed conceptual framework are discussed below; dependent variable is staff motivation and independent variables are performance appraisal, job satisfaction

Staff motivation: They defined motivation as “the individual’s desire to demonstrate the behaviour and reflects willingness to expend effort”. Motivation can be divided into extrinsic and intrinsic motivation. The word motivation has been derived from motive which means any idea, need or emotion that prompt a man into action. Whatever may be the behaviour of man, there is some stimulus behind it. Stimulus is dependent upon the motive of the person concern. Motive can be known by studying a person’s needs and desires. There is no universal theory that can explain the factors influencing motives which control man’s behaviour at any particular point in time. In general, the different motives operate at different times among different people and influence their behaviors. The process of motivation studies the motives of individuals which cause different type of behaviour. Young (2000) also defined motivation as the force within an individual that account for the level, direction, persistence of effort at work. Halepota (2005) definition of motivation is “a person’s active participation and commitment to achieve the prescribed results”

performance appraisal:

Employee or staff appraisal can be defined as the process whereby current performance in a job is observed and discussed for the purpose of adding to that level of performance (Keith, 1996). It refers to the comparison of actual performance against targets set for the employee or against expected employee output. Performance appraisal represents a central function of human resource management and has remained an important topic of investigation among organizational researchers. Performance management incorporates the review of past performance and the setting of objectives for the future (McKenna and Beech, 2002). Managers in many organizations believe that most significant personnel/ human resource outcome involves the contributions employees make to the organization’s goals (Heneman et al, 1983). These contributions are called employee performance, meaning how effectively an employee carries out job responsibilities. An appraisal of the employee is necessary at the time of his employment. Organizations give employees job description showing in detail what will be required of him/ her during the employee’s tenure at the place of work. The work of appraisal begins with setting targets to be met by the employee and it is against these targets that actual performance is measured during evaluations. Nzuve and Singh (1992) argue that appraisal of employees on a continuing basis during the working life of the employee is very desirable and useful. Performing annual employee appraisals can often be one of the most challenging functions a manager may have. Various approaches to appraisal can be adopted and the choice of system will reflect the style and culture of the organization. The long standing performance appraisal dilemma of how to reconcile organizational concerns for control and compliance on the one hand with employee expectations of professional development and personal aspirations on the other is recognized by many writers on performance appraisal (Hendry et al., 2000). In the banking institutions, appraisal is done annually at the end of the year and usually done by the immediate supervisor. However, appraisal for the bank’s marketing staff is done monthly by the immediate supervisor. Sources of information for appraisal include internal records and the employee himself through an interview process

Job satisfaction:

Job satisfaction has been defined as a positive emotional state resulting from the pleasure a worker derives from the job (Locke, 1976; Spector, 1997) and as the effective and cognitive attitudes held by an employee about various aspects of their work. Job satisfaction is one criterion for establishing the health of an organization. Rendering effective services largely depends on the human resource, and job satisfaction experienced by employees will affect the quality of services they provide. Situational theories assume that the interaction of variables such as task characteristics, organizational characteristics and individual characteristics influence job satisfaction (Hoy and Miskel, 1996). The individual evaluates the situational characteristics before commencement of employment whereas situational occurrences are evaluated afterwards. ir Organizations strive to improve satisfaction of their employees because employee satisfaction influences degree of success by the firm and the overall competitiveness in the industry. To motivate employees to work harder, organizations develop reward programs, promotions and staff training programs, which are products of performance appraisal. When implemented carefully, these programs play a role in improving employee satisfaction.

1.3 Statement of the problem

Low productivity is usually the negative effect of lack of performance appraisal, absence of performance appraisal and motivation strategies brings about staff low job performance.

Labour union always get into the matters of employees wellbeing at work and also in their personal lives so that they can give their full at work. But some time it has a negative impact on performance appraisal and motivation and the management to give promotion or rise in the salary on the bases of seniority.

The basic aim of every business organization is to achieve its objectives, goals or targets successfully. Goals set by organization will only be in vain if much attention is not paid to employees’ effort or performance for successful accomplishment. In other to achieve set goals and objectives successfully, there is the need to focus on performance appraisal. Performance appraisal and motivation should be linked to attractive incentive to employees, enabling workers to demonstrate higher productivity.

Most organizations in the competitive market fail since their workers perform below standard for they are not encouraged to work harder. Managers and staffs are the life blood of every business organization. If management does not invest much into the welfare of their workers, problems are bound to raise leading to industrial strike actions, low commitment to work, low morale and low productivity of goods and services.

Attractive appraisal systems are established by some business organizations to help motivate their staffs to strike hard to be recognized and rewarded. Once staffs are motivated, their performance reflects on productivity. Employees strive hard by pooling together skills, knowledge and efforts to achieve maximum output. Hence the essence of this study is to find out the part played by performance appraisal and motivation in the financial sector.

 

1.4 Objective of the study

The objective of the study is to examine the performance appraisal and staff motivation in the financial sector. The specific objectives are;

  1. To identify the factors that motivates and de-motivates staffs in financial sector
  2. To determine the extent to which staffs’ performance appraisal has influence organizational performance in financial sector

 

  1. To investigate on the factors affecting various motivational strategies in financial sector

1.5 Research question

The research questions for the study are:

  1. What are the factors that motivates and de-motivates staffs in financial sector?
  2. To what extent staffs’ performance appraisal has influence organizational performance in financial sector?
  3. what factors affecting various motivational strategies in financial sector?

 

1.6 Research hypotheses

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H0there are no factors that motivates and de-motivates staffs in financial sector

H1: there are factors that motivates and de-motivates staffs in financial sector

H02:  there is no extent staffs’ performance appraisal has influence organizational performance in financial sector

H2: there is an extent staffs’ performance appraisal has influence organizational performance in financial sector

H03: there are no factors affecting various motivational strategies in financial sector

H3: there are factors affecting various motivational strategies in financial sector

1.7 Significance of the study

The findings of the study will be beneficial to the members of staff of financial sector in Nigeria, especially portharcourt. It will also help managers in other organizations in setting goals and targets for employees to achieve through proper supervisory control by line managers. The study will aid in identifying and improving the training and development needs of workers and assist in motivating staffs who contribute effectively to the attainment of organizational goals and objectives. The study will serve as a repository of information to other researchers that desire to carry out similar research on the above topic. Finally, the study will contribute to the body of existing literature and knowledge in this field of study and provide a basis for further research

1.8 Scope of the study

The scope of the study covers performance appraisal and staff motivation in the financial sector in portharcourt, Rivers state. The study will be limited to Eco bank in portharcourt

1.9 Limitation of the study

Financial constraint– Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint– The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work

1.10 Operational definition of terms

Appraisal: A formal assessment, typically in an interview, of the performance of an employee over a particular period.

Efficiency:  A level of performance that describes a process that uses the lowest amount of inputs to create the greatest amount of outputs. Efficiency relates to the use of all inputs in producing any given output, including personal time and energy.

Exploitation: The process of being able to use a company’s natural resources such as adverts, covering of event, publicity of event for the attainment of profit maximization.

Management: Is the effectiveness and optimum used of human and material resources to achieve a goal.

Responsibility: Is a person who is reliable and able to carry out various duties imposed on him/her by the establishment.

Evaluation:         Evaluation is a systematic determination of a subject’s merit, worth and significance, using criteria governed by a set of standards. It can assist an organization, program, project or any other intervention or initiative to assess any aim, realizable concept/proposal, or any alternative, to help in decision-making; or to ascertain the degree of achievement or value in regard to the aim and objectives  and results of any such action that has been completed.

Staff motivation: Employee motivation is defined as the enthusiasm, energy level, commitment and the amount of creativity that an employee brings to the organization on a daily basis. Motivation is derived from the Latin word, “movere” which literally means movement.

 1.11 Organization of the study

This research work is organized in five chapters, for easy understanding, as follows

Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research question, research hypotheses, significance of the study, scope of the study, limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding.  Chapter five gives summary, conclusion, and recommendations made of the study

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