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Abstract
The study examined employee motivation and corporate performance of selected telecommunication firms in Port Harcourt. The survey research design was adopted for this study. The population is made up of 120 employees from of selected telecommunication firms in Port Harcourt. The primary and secondary data sourcing techniques were adopted. The primary has to do with structure and un-structured questionnaire, personal interview and observation. The Taro Yemen’s formula was used to determine the sample size of 96. A self-design questionnaire was used for data collection from respondents. The simple percentage was used to analyse the response. Findings reveal that there is a significant relationship between motivation and corporate performance. Based on the findings of the study summary conclusion and recommendations were made that they should provide an atmosphere for the attainment of high productivity, which will in turn give employees a feeling of satisfaction and employees should be given the opportunity to contribute their ideas to the affairs of the organization as this will boost their morale and consequently lead to higher productivity.
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Corporate performance as a construct suffer from, problems of conceptual clarity in many areas. The first area is the definition of the construct. The term performance is often used indiscriminately to descried everything from effectively and effectiveness to improvement. An adequate definition or in this case, many similar yet different definitions practitioners use the term to describe a range of measurement including impute efficiency, output efficiency and earn transactional deficiency (Stanncck, 1996).
Performance has to do with accomplishment standard of accuracy, completeness, cost and speed. Performance is seemed to be the fulfillment of an obligation in a manner that release the performer from all liabilities under the contract. Corporate performance therefore is a measure of how well achieve appropriate objectives. This means that organization must be properly, evaluated in term of their productivity, skills taken decision and total commitment to their job so as to enable the organization to achieve expected goals.
Corporate performance has to do with the effectiveness of the organization in fulfilling it purpose. The measurement of performance is very important aspect to be considered. In any business entity that is gearing towards success.
The desire of every organization is to be successful and to have constant progress. This desire is being challenged by so many problems especially frequent employees’ turnover. Every organization and business wants to be successful and have desire to get constant progress (Nishikawa, 2006). The current era is highly competitive and organizations regardless of size, technology and market focus are facing employee retention challenges (Oloko, 2003).
It has become a serious task to retain employees by organizations as a result of fierce competition regardless of their size, market focus and technology. In order to guide against the desire to leave by employees, there is need to build a strong relationship between employees and the organizations they serve. Employees or what we call human resource of any organization are the most central part so they need to be influenced and persuaded towards tasks fulfillment.
For achieving prosperity, organizations design different strategies to compete with the competitors and for increasing the performance of the organizations. A very few organizations believe that the human personnel and employees of any organization are its main assets which can lead them to success. It remains almost an impossible goal to achieve progress, success, or effectiveness in an organization if the employees of such organization are not satisfied, are not motivated for the tasks to perform and goals to achieve. This study therefore is focused on enlightening how an organization through its employees can achieve success and effectiveness.
Motivation, as a process, started with a need in human being which creates a vacuum in a person. In an attempt to fill the vacuum an internal driving force is generated which starts and sustains a chain of action and reaction Kayode (2003). It is at that point that the vacuum is also filled. With this background information (Nnabuife, 2009), define motivation as the internal or external driving force that produces the willingness to perform an act to a conclusive end. This first aspect of motivation we choose to describe as internal motivation because the driving force comes from within an individual. The second aspect is external motivation, is applied by the organization. This is because employees are motivated to identify with organization in order to satisfy their varied and variegates needs and desires (Oloko2003). Until they have been identified and properly satisfied, they will never cease to impede smooth running of the organizations (Nishikawa, 2006).
From the foregoing therefore, the study is intended to examine the relationship between motivation and corporate performance as it relates to some selected insurance firms in Rivers State.
1.2 Statement of Problem
The performance of organizations and motivation has been the focus of intensive research effort in recent times. How well an organization motivates its workers (Intrinsic or Extrinsic) in order to achieve their mission and vision is of paramount concern. Employers in both private and public organizations are becoming increasingly aware that motivations increases productivity. From the foregoing, and looking at today’s economic trend, it is evident that the pace of change in our business environment presents fresh challenges daily. Inasmuch as there are various research works on the influence of extrinsic and intrinsic motivation on employees’ performance in Nigeria, no research work has been targeted at employees of insurance firms in Rivers State. Existing studies in Nigeria, aimed at the effect of motivators and hygiene on job performance by Jibowo (2007). Related studies on this study were on influence of monetary incentives and its removal on performance (Bergum & Lehrs, 2004). Of these studies in Nigeria, very few assessed the influence of Extrinsic and intrinsic motivation on employee’s performance on breweries firms. Moreover, scanty studies have been done on motivation in Africa (e.g., Centres & Bugental, 2007), Daniel and Caryl (1998 in Kenya, Akerele (2001) did not cover indeed, the areas that the objectives of this work covers. This study therefore attempts to empirically analyze how extrinsic and intrinsic motivational tools can be used by selected breweries firms’ in Port Harcourt metropolis to effectively obtain possible diversification plans in the face of the current economic challenges in Nigeria today.
Good remuneration has been found over the years to be one of the policies the organization can adopt to increase their worker performance and thereby increase the corporate performance.
Workers leave organization due to the fact that they are not motivated enough. Some are not willing to leave because they are enjoying some benefit in terms of promotion, which leads to increase in salaries and wages, bonus and some other incentives.
Workers prefer financial incentives to non-financial incentives, more especially the junior workers, due to the fact that such incentives are not used as a motivational technique, the company have the problem and challenges of retention of their employees. Hence low performance and productivity becomes the end result and finally work dissatisfaction.
1.3 Objectives of the Study
The main objective of the study is to examine the relationship between motivation and corporate performance of telecommunication firms in Rivers State. The specific objectives are as follows:
1. To examine the relationship between reward and corporate performance corporate performance of telecommunication firms in Rivers State.
2. To examine the relationship between job enrichment and corporate performance corporate performance of telecommunication firms in Rivers State.
3. To examine the relationship between promotion and corporate performance corporate performance of telecommunication firms in Rivers State.
1.4 Research Questions
1. Does employee reward influences corporate performance corporate performance of telecommunication firms in Rivers State?
2. Does job enrichment associate with corporate performance corporate performance of telecommunication firms in Rivers State?
3. Does promotion associate with corporate performance corporate performance of telecommunication firms in Rivers State?
1.5 Significance of the Study
The study will serve as guide to the management of insurance firms particular and the Nigerian managers as a whole in determining the best way of getting the best output from their employees who are presently demoralized in the face of the prevailing socio-economic hardship.
The study is also aimed at contributing to the literature in Motivation particularly with reference to corporate performance. Also, this work on completion will broaden the essence for application of modern motivational techniques for both public and private sectors respectively.
1.6 Scope of the Study
The study is delimited under the following heading: content scope, geographical scope and unit of analysis.
Content Scope: The content scope of this study involves on investigation to ascertain the relationship between Motivation and corporate performance. The dependent variable is corporate performance, measures by productivity, efficiency and effectiveness. While independent variable is motivation measure by Reward, Job enrichment and Promotion.
Geographical Scope: This study is delimited in Port Harcourt Metropolis with special reference to selected telecommunication firms in Port Harcourt which include MTN, 9Mobile, Globacom and Airtel.
Unit of Analysis: The unit of analysis in this research involves staff of the insurance firms at the time of carrying out the study. The scope of this study is to ascertain the relationship between motivation and corporate performance.
1.7 Limitation of the Study
In carrying out an investigation of this native the researcher must of necessity be faced the following constraint.
Firstly, the time constraint’s the time frame provision for this study was short.
Secondly, financial constraints. Usually, a study of this nature involved some level of expenditure therefore, finance was also a limiting factor.
Thirdly, poor response from the respondent and inability to access the entire population of the study. Lastly, poor measurement instrument.
1.8 Definition of Terms
Employees: Employees would refer generally to members of staff of an organization, both management and non-management and would be used interchangeably with workers.
Employee Needs: This refers to basic wants of employees, the desire to satisfy which activates their energy to satisfy and the fulfillment of which engenders positive work attitudes. In the study these needs are categorized into three: Existence, Relatedness and growth needs.
Motivation: Motivation would be seen as that energizing force consciously applied through skillful appeal to employee basic needs to compel positive work attitude to achieve organizational goal.
Promotion: Elevation of an employee to a better job, better in terms of greater responsibilities, enhanced authority more prestige or status greater skill increased remuneration and fringe benefits.
Work Attitude: This would refer to employee’s state of mind as expressed in concrete action behavior or their manner of performing their duties.
Innovation
Although various definitions of innovation exist, all include the need to complete the development and exploitation aspects of knowledge, not just its invention
Competitiveness
For the firm, competitiveness is productivity reflected in either low costs or differentiated products that fetch premium prices
Adaptability
This construct closely corresponds to the idea that an organization develops its characteristics and behaviour patterns as a response to changes in its stakeholder environment.