MOTIVATION IN THE BANKING INDUSTRY (A CASE STUDY OF ECOBANK NIGERIA LIMITED, SOKOTO BRANCH)

Abstract

The introduction of universal banking law has brought changes over the years, with it stiff competition in the banking industry. Commercial banks are no exception to the modern changes in ensuring staff motivation towards their organizational goals. The study seeks to assess the motivation in the banking industry at Ecobank Nigeria. The survey research design was used for the study. The study revealed that, management can make use of different strategies and policies to motivate employees in the banking environment. Employees are interested in enhanced salaries, fringed benefits, promotion, and car loans as motivating elements sufficient to push employees of the bank to give out their best. The research also revealed that the core duty of the bank is normally carried out by branch Staff who as such motivational packages should be geared towards them to ensure that they delight the customers. Promotion has been a worry to most staff; measures should be put in place by management to ensure that there is continuity in the promotion of staff to avoid low productivity in terms of deposit mobilization. The study revealed that if management withdrew motivational packages it will have serious repercussions on employees‟ performance. There was a positive relation between employee performance and corporate performance since employees were able to achieve the bank’s performance indicators in terms of deposits, loan recovery, profitability and also ensuring the liquidity of the banks. The conduciveness of the office environment has first time impression on the customers and the welfare of the employees.