IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 10 NO. 5 2024
DOI: 10.56201/ijebm.v10.no5.2024.pg134.153

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Effect of Financial and Non-Financial Incentives on Staff Productivity of First Bank Plc in Umuahia, Abia State, Nigeria

Nwosu Ndubuisi Levi, PhD , Okundamiya Francis Jeffrey

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Abstract

This study examined the effects of financial and financial incentives on staff productivity in first bank PLC. The specific objectives were to determine the effect of employee’s pay and productivity of first bank ascertains the effect of first bank PLC. The research hypotheses were tasted using simple regression model and Pearson correlation coefficient. The study employed descriptive research survey design. The sample size was 51 using taro Yamane’s formula. The objectives 1-3 were achieved using simple regression model while the objective 4 was achieved using Pearson correlation co-efficient. The findings reviewed that employee’s pay which was positive and statistically significant at 1% level, affects the productivity of the employees positively. Findings from the effect staff promotion on the productivity of employees of First Bank Plc; showed that the performance of employees of First Bank Plc; in their job is greatly affected by their promotion, as there was a positive and significant result at 1% level. Based on the findings of the research, the following recommendations were suggested by the researcher. The management of the First Bank Plc should ensure prompt and regular payment of salary to the employees of the bank, since the employees’ pay has a way of influencing their productivity. Staff promotion should be taken seriously by the management and carried out as at when due to motivate the employees in the productivity of their jobs, which will in-turn leads to high productivity of the bank.

keywords:

Productivity, bonus, promotion, employee’s pay and recognition.

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