The Relationship between Motivational Culture and Productivity in the Nigerian Banking Sector- A Case Study of First Bank of Nigeria Plc

Abstract

Nigeria is the most populous and ethnically diverse country in Africa with over two hundred and fifty (250) ethnic groups and a population of over one hundred and forty million people. It has been said by different researchers that, motivation is the primary tool for workers’ performance, though poorly studied and implemented; which has resulted in tremendous economic and social loss to the country. The main purpose of the seminar is to investigate whether there exist any significant relationship between the motivational culture and the organizational productivity of the banking sector with particular reference to First Bank Plc. It has been generally assumed that poor performance in the public and private organizations is often attributed to non-motivation of workers. The study employed both primary and secondary data and used the chi-square analysis to test the hypotheses. The study revealed that there exist significant relationship between motivational culture and the productivity of First Bank plc. The study also revealed that money is the most significant motivator to achieve greater productivity, commitment and job satisfaction. Among other motivational packages, the study recommended promotion as the most effective motivational policy of every manager since it generates loyalty and attracts more money.