THE EFFECT OF MOTIVATION ON THE PERFORMANCE [602867]

THE EFFECT OF MOTIVATION ON THE PERFORMANCE
OF EMPLOYEES AT GT BANK GHANA

by

Nduro , Millicent
(PG, 4128310 )

A Thesis s ubmitted to the Institute Of Distance Learning, Kwame
Nkrumah University of Science and Technology, in Partial fulfillment of
the requirements for t he degree of

COMMONWEALTH EXECUTIVE MASTERS OF BUSINESS
ADMINISTRATION

SEPTEMBER 2012

DECLARATION

I, hereby declare that this submiss ion is my own work towards the Executive Master s of
Business A dministration, and to the best of my knowledge, it contains no material previously
published by another person nor material which has been accepted for the award of any other
degree of this and any other U niversity, except where due acknowledgement has bee n made
in the text.

Millicent Nduro (PG 4128310 ) ……………………………….. …………………………..
Student: [anonimizat] & ID Signature Date

Certified by:
Mr. Samuel Kwesi Enninful …………………………… ………………………….
Supervisor Signature Date

Professor I. K. Dontwi ……………………………… …………………………
Dean , IDL Signature Date

ABSTRACT

The success or failure of any business as a matter of fact depends largely on its employees;
thus human resources are very essential to the organisation as they are the key to prosperity,
productivity and performance. How employees are perceived, treated a nd how they feel
about themselves and ultimately their output directly or indirectly has an impact on their
performance and development of the organisation. De motivated employees under no
circumstance will churn out decreased performance. The aim of this study was to find out the
effect of motivation on the performance of Guaranty Trust Bank workers. The study adopted
the mixed approach of research design and the case study method to provide answers to
research questions formulated. A non probability desig n with the purposive sampling
technique was employed to select and sample the opinion of 150 workers of Guaranty Trust
Bank on the issue. Data obtained from the field survey was later analysed using SPSS. The
study revealed that indeed there is a relations hip between motivation and performance and
aside the known fact that money is the key amongst the motivational factors to employees, it
was realised that employees are gradually becoming particular about trust, respect and high
expectation, recognition and appreciation and good working environment. The study
therefore concluded that great strides be made to motivate all staff to enhance performance.
The researcher recommends that management attaches more importance to issues of
employee motivation to make t he institution survive amongst its competitors.

DEDICATION

This study is dedicated to my baby Bryan Aseda Enu, my husband; Richard Enu, my siblings
Kingsley, Cynthia, Kwabena and Abena, and my parents Mr and Mrs Nduro for their
immense support and encouragement towards the successful completion of my co urse

ACKNOWLEDGMENT S

I would like to give praise and thanks to the A lmighty God for His guidance and protection
throughout my life and also seeing me through my studies.

I wish to express my gratitude to my supervisor Mr . Samuel Kwesi Enninful who took time
to read and made the necessary criticism, suggestions and corrections in the course of writing
this thesis.
I am e xtremely grateful to Kwabena Nduro for his support. Thank you ve ry much and may
God reward you abundantly.
Finally to all employees of Guaranty Trust Bank Ghana Limited who participated in the
study, I am grateful.

TABLE O F CONTENTS

Page
TITLE PAGE……………………………………………………………………………………………….. i
DECLARATION…………………………………………………………………………………………. ii
DEDIC ATION………… …………………………………………………………………………………. .iii
ACK NOWLEDGEMENTS………………………………………………………………………….. iv
ABST RACT………………………………………………………………………………………………… .v
TABLE OF CONTENTS………………………………………………………………………………. vi
LIST OF TABLES………. ………………………………………………………………………………. viii
LIST OF FIGURE S……………………………………………………………………………………….. ix
LIST OF APPENDIXES TABLES…………. ……………………………………………………… x
LIST OF APPENDIX FIGUR ES…………………………………………………………………… xii

CHAPTER ONE …………………………………………………………….. …………………………. …1
INTRODUCTION …………………………………………………………………………………….. …1
1.1 Background to the Study …………………………………………………………………….. 1
1.2 Statement of the Problem ………………………………………… …………………………. 2
1.3 Research Objectives…………………………………………………………………………… .3
1.4 Research Questions ………………….. ………………………………………………………… 3
1.5 Brief Methodology ……………………………………………………………………………… 4
1.6 Scope of the Study ……………………………………………………………………………… 5

1.7 Limitations of S tudy …………………………………………………………………………… 5
1.5 Significance of the Study…………………………………………………………………….. 6
1.6 Organisation of Study…………………………………………………………………………. 6

CHAPTER TWO…………………………………………. ……………………………………………. ..8
REVIEW OF RELATED LITERATURE ………………………………………………….. ..8
2.1 Introduction ……………………………………………………………………………………….. .8
2.2 Key Variables ……………………………………………………………………………………… 8
2.2.1 Motivation…….. ………………………………………………………………………………… .8
2.2.2 Performance ……………………………………………………………………………………… 9
2.3.1 Features of Motivation……………………………………………………………………….. 9
2.3.2 Sources of Motivation……………………………………………………………………….. 10
2.3.3 Types of Motivation ………… ……………………………………………………………….. 11
2.4 Motivation Theories …………………………………………………. ………………………. 14
2.4.1 Maslow’s Hierarchy of Needs………………… …………………………………………. 16
2.4.2 ERG Theory ……………………………………………………………………………….. ……18
2.4.3 Acquired Needs Theory…………………………………………. …………………………. 22
2.4.4 Two Factor Theory ……………………………………………….. …………………………. 24
2.4.5 Fredrick Taylor…………………………………………………….. ……………. …………… 25
2.5 Expectancy Theory………………………………………………….. ………………………… .26
2.6 Performance ……………………………………………………… …………………………. ….28
2.6.1 How Motivation Affect Performance ……………………… ………………………… .28
2.6.2 Factors Affecting Workers Motivation and Performance …………………… 29

2.6.3 How Employee Motivation Affect Employee Performance …………………..31
2.7 Types of Rewards………………………………………………………………………………….. .31
2.7.1 Monetary Rewards ………………………………………………….. ………………………….. 31
2.7.2 Non Monetary Rewards……………………………………………………………………….. 32
2.7.3 Importance of Reward Systems …………………………………. ……………………… ….32
2.7.4 Incentive Schemes ……………………………………………………………………………….. .33
2.7.5 Ways of Motivating Employees …………………………………………………………….. 33
2.8 Conclusions ………. ……… ……………………………………………… ………………………….. 40

CHAPTER THREE ……………………………………………………………………………………… …41
METHODOLOGY ……………………………………………………………………………………….. …41
3.1 Research Design ……………………………………………………………………………………. …..41
3.2 Study Population ……………………………………………………………………………………. ….42
3.3 Sample Size …………………………………………………………………………………………… …..42
3.4 Sampling Technique ………………………………………………………………………………. ….44
3.5 Sources of Data …………………………………………………………………………………………. 44
3.6 Data Collection and Procedures ………………………………………… ………………………. .45
3.7 Challenges Encountered ……………………………………………………………………….. …….46
3.8 Data Analysis Methods……………………………………………………………………………. ….47
3.9 Ethical Considerations …………………………………………………………………………. ……..47
3.10 Institutional Profile …………………………………………………………………………… …….48
3.9 Summary …………………………………………………………………………………………… ……….49

CHAPTER FOUR………………………………………………………………………………………. ..50
DATA ANALYSIS AND DISCUSSION OF FINDINGS ……………………………… ..50
4.1 Introduction …………………………………………………………………………………….. …..50
4.2 Background Analysis of Data………………………………………………………………..50
4.3 Demographic Features of Respondents ……………………. …………………………… 51
4.3.1 Gender of Respondents ……………………………………………………………………. ..51
4.3.2 Age of Respondents ……………. …………………………………………………………. ….51
4.3.3 Number of Years Spent on the Job…………………………………………………… .52
4.3.4 Educational Background of Respondents …………………………………………. .52
4.4 Forms of Motivation ……………………………………………………………………….. …..53
4.5 Individual Needs ……………………………………………………. ……………………… ……59
4.6 Motivational Factors that Increase Performance ………………………………… .60
4.7 Relevance of Motivation……………………………………………………………………..72

CHAPTER FIVE……………………………………………………………… …………………………74
SUMMARY, CONCLUSION S AND RECOMMENDATIONS …………………….74
5.0 Introduction ……………………………………………………………… ………………………… 74
5.1 Summary of Key Findings ………………………………………………………………. …..74
5.2 Conclusion s………………… …………………………………………….. ………………………… 78
5.3 Recommendations ……………………………………………………… …………………………80
References ……………………………………………………………………. …………………….. .83
Appendix ……………………………………………………………………… ……………………… .87

Questionnai re……………………………………………………………………………………….. .87
LIST OF TABLES

Table 2.1 : Alderfer‟s Hierarchy o f Motivational Needs …………………………………….. 21
Table 2.2: Classification o f Herzberg‟s Two Factor Theory……………………………….. 25
Table 4.1: Gender of Respondents………………………………………………………………….. 51
Table 4.2: Age of Respondents………………………………………. ……………………………… 51
Table 4.3: Educational Background……………………………………………………………….. 53
Table 4.4: Ranking of Individual Needs…………………………………………………………. 59
Table 4.5: Importance of Motivation…………………………………………………………….. 72

LIST O F FIGURES

Fig 2.1: Maslow‟s Hierarchy of Needs ……………………………………………………………. 18
Fig 2.2: Comparison of Maslow and Alderfer ‟s Needs……………………………………… 22
Fig 2.3: Model of Acquired Needs ………………………………………………………………… 23
Fig 2.4 : Relationship between Motivation and Performance…………………………….. 29
Fig 4.1: Trust, Respect and High Expectation …………………………………………………. 54
Fig 4.2: Staff Development…………………………………………………. ………………………. 55
Fig 4 .3: Bonuses ………………………………………………………………………………………… 56
Fig 4.4: Good Accommodation ………………………………………………………………. ……57
Fig 4.5: Car Loans ………………………………………………………………………………………. 58
Fig 4.6: Recognition and Appreciation …………………………………………………………… 61
Fig 4.7: Salary…………………………………………………………………………………………….. 63
Fig 4.8: Career Advancement ……………………………………………………………………….. 64
Fig 4.9: Promotion and Growth…………………………………………………………………….. 65
Fig 4.10: Job Security ……………………………………………………….. …………………………. 66
Fig 4.11: Interpersonal Relationship………… …………………………. …………………………. 67
Fig 4.12: Good Working Environment………………………………… …………………………. 69
Fig 4.13: Outside Seminars…………………………………………………. ………………………… 70
Fig 4.14: Additional Responsibility……………………………………………………………….. 71

CHAPTER ONE
INTRODUCTION

1.1 Background to the Study
The success of any business or organisation as a matter of fact depends largely on the
motivation of the employees. Human resources are essential to the prosperity, productivity
and performance of any company. Motivation is the key to creating an enabling environment
where optimal performance is possible . This leads to the question how then do we ensure that
the individual m otivation is at its peak within the organisation or workplace? (Chapman,
2004).
Every employee or worker has his or her own set of motivations and personal incentives that
ginger him or her to work hard or not as the case may be. Some are motivated by reco gnition
whilst others are motivated by cash incentives. Whatever , the form of employee motiv ation ,
the key to promoting that motivation as an employer , is understanding and incentives (Mc
Coy, 2000).
Employee incentive programmes go a long way towards ensuring employees feel appreciated
cared for and deemed worthwhile. This can go a long way to help with employee motivation
across the board. The greatest thing about motivation is that it is individualized as such
programs are tailored to suit the needs and wants of employees. Motivation does not only
encourage productive performance but also show employees how much the company cares.
Perhaps the most vital impact of employee motivation is that of increased productivity or
performance. This according to literature on the subject is the central aim of adopting

employee motivational programmes thus, if you can increase employee motivation,
productivity inevitably will follow suit (Ryan, 2011) .
Employee motivation promotes workplace harmony and increased employee performance. It
is the key to long term benefits for the company. Motivated employee s means staff retention
and company loyalty, which in the short run will give birth to growth and development of
business (Jishi, 2009) .
In the nutshell , the above submission shows that employee motivation is very essential to the
growth, development and success of any business entity be it small or big . In the business
world or better still the workplace human resources are the most valued and cherished
resources above all others. Motivated employees are productive, happy and highly committed
to their job. The spin off this, result in reduced employee turnover, results driven employees,
loyalty and harmony thus the research topic “an assessment of employe e motivation and its
impact on performance, with the focus on Guaranty Trust Bank”.

1.2 Statement of the Problem
When you think about i t, it can be realized that, the success of any facet of business or
company can be traced back to motivated employees. From productivity and profitability to
recruiting and retention, hardworking and happy employees lead to harmony and
organizational triumph (Ryan, 2012).
Unfortunately, motivating people is far from an exact science in most businesses or
organisations. Mos t organisations are still living in yesteryears of organizational

management. A preliminary survey conducted by the researcher with thirty workers (30) of
Guaranty Trust Bank revealed that the following factors cause dissatisfaction among workers
and hence their underperformance; these factors were long working hours, unreasonable
work load, feeling underpaid and inadequate appreciation.
Lack of proper motivation factors may result in losses which may eventually lead to low staff
turnover, poor attitude tow ards work, low output level and low profitability. It is in the light
of these that the study intends to look into the effect of motivation on the performance of the
workers of Guaranty Trust Bank.

1.3 Research Objectives
The main aim at this study was to assess motivation and its effect on performance at
Guaranty Trust B ank, a private bank in Ghana. To be precise, the study would seek to fulfill
the below enumerated objectives:
1. To examine the concept of motivation and performance with regards to Guaranty Trust
Bank .
2. To find out the motivational factors put in place by the bank to reward hard work .
3. To find out the extent to which there is a relationship between employee motivation and
performance.
4. To find out the challenge s that Guaranty Trust Bank face in its attempt to motivate staff.

1.4 Research Questions
1. What is GT Bank‟s understanding of motivation and performance?

2. What motivational factors have been put in place by the bank to reward hard work?
3. Is there a relationship bet ween motivat ion and performance at GT Bank?
4. What challenges does GT Bank faces in motivating its employees?

1.5 Brief Methodology
The study adopted the mixed appro ached research design thus; both quantitative and
qualitative research design. The rationale for such an approach was that, they can be used to
execute research notwithstanding the paradigm and this was supported by Tashakkori and
Teddlie (1998) in their argument that the mixed approach has the advantages of one
compensating for the weakness of the other. The case study method was employed by the
researcher as data collection technique to study into detail every bit of information about the
bank.
The study population comprised the staff o f Guaranty Trust B ank and their customers , and
used the Accra , Kumasi and T akoradi branches as the study area . The non probability
sampling was used together with the purposive sampling technique to draw a sample size of
150 from the population.
The study adopted the questionnaire and interview research instruments to collect data from
both the primary and secondary sources. Data was finally analysed using SPSS to create
tables and charts for easy understanding and presentation of implications. Last but not least
was the ethics of business research.

1.6 Scope of the Study
This study targeted only full – time workers within Guarant y Trust Bank a private bank in
Ghana. The population of this study comprised as earlier indicated, full time worker s, and
have worked with the bank for two (2 ) years and above. In terms of content, the study
focused on employee motivation and performance. Respondents w ere asked questions on
issues related to forms of motivation, individual needs, and their perception on factors that
increase performance and their general view on the relevance of motivation.
The reason why this study had its scope within Guaranty Trust Bank and not all banks is
because the researcher works there and wishes to attempt to impr ove the situation.

1.7 Research Limitations
The limitation of the study concerns the instruments employed in undertaking the research.
This study was limited to an interview and questionnaire administration methods with the
hope of clarifying or explainin g issues that cropped up during a dministration of
questionnaires.
The sample size will also make it extremely difficult to generalise results of the study to
cover all branches of the bank nationwide.
Due to workload and long hours of bank work, the researcher could not have all respondents
responding to the questions asked especially staff.

1.8 Significance of the Study
The findings from this study will be beneficial not only to the workers of the bank but also
the financial sector as a whole. In other words, this study will be useful at three levels thus,
the individual level, institutional level and national level.
A. At the individual level , the workers of the institution will be informed as to the incentive
programmes available to them and how best to utilize them for personal development and
improved performance.
B. At the institutional level , it will help the bank t o change or review their employee
motivational policies and strategies in vogue which will inevitably cause an increase in staff
turnover or productivity which will also lead to growth and eventually development.
C. At the national level , critical issues of motivation are of national concern as it will help in
the retention of workers. So the study will be essential for all financial institution especially
the banks as it has come at the right time and at the right place to support national policies
especi ally the policy to make the private sector the engine of growth of the economy.

1.9 Organisation of the Research
This study is structured to provide a critical review of relevant information regarding
employee motivation and performance. The study compris ed five chapters and it is presented
as follows:
Chapter One: Dealt with the introduction, giving the background to the study along with the
statement of th e problem . The chapter al so outlined the research objectives together with the

research questions, research scope , limitations and significance of the study, and organisation
of the study.
Chapter Two: Reviewed related literature regarding many aspects of motivation and
performance which included a definition on motivation and performance, the various theories
and models of motivation, how motivation affects performance , factors affecting motivation
and performanc e, relationship between motivation and performance and how employee
motivation affect employee performance and types of rewards.
Chapter Three : Presented the research methodology and focused on research design and
methods as well as the justification of choices and uses. In addition, the study population and
area, sampling and sample size determination , data collection activities and data analys is
methods .
Chapter Four: Presented the data, which was subsequently interpreted and analysed in
relation to the research objectives and questions , and disc ussion of findings of the study;
Chapter Five: Provided a summary to the entire study, drew conclusions and also
recommendations made .

CHAPTER TWO
REVIEW OF RELATED LITERATURE

2.1 Introduction
Motivation as a concept was of much interest to psychologists and behavioral scientist in the
past years . At present, motivation is being widely practiced by all organisations as they now
see it as important in their work settings. Managers believe that the continued success of their
business es depends on being able to attract and retain staff, therefore , the urgent need to
observe it . This chapter review ed related literature regarding many aspects of the subject
matter (motivation) including motivation definition, process and sources of motivation, the
old and new school of thought on motivation (theories) among others.

2.2 Definition of Key Variables
2.2.1 Motivation
Motivation refers to the forces within or beyond a person that arouse and sustain their
commitment to a course of action (Boddy, 2008: 486).
According to Robbins & Decenzo (2008:267) motivation is the willingness to exert high
levels of effort to reach organisational goals, conditioned by the efforts and ability to satisfy.
They further asserted , that motivation is a function of three key elements thus; effort,
organisational goals and needs.

From the two definitions cited b y the researcher, the study adapted this as the operational
definition to be used throughout the report ; thus, m otivation is the combination of certain
forces perhaps an employee‟s desire, capacity and energy directed at achieving an
organisational goal or cause of action

2.2.2 Performance
Employee Performance basically depends on many factors like performance ap praisals,
employee motivation, e mployee satisfaction, compensation, Training and de velopment, job
security, Organis ational structure and other s.
Study defined performa nce as a function of ability and motivation thus;
Job performance = ƒ (a) (m)
(Carter, 2009)
The researcher deduced from the equation that work performance is highly dependent upon
employee abilities thus, if the employees lack the learned skills or innate talents ( education
and capacity) to do a particular job then performance will be less optimal. But in a situation
where the employee has all these backed by good motivation , job performance will
ultimately be at the optimal.

2.3.1 Features of motivation

McCoy (2012) in her conference paper presentation outlined the following features of
motivation. A word of caution it may differ from others as it is dependent on how a particular
researcher sees it .
She charged that;
 It is an act of management
 It is a continuous process
 It can be positive or negative
 it is goal oriented and complex in nature
 it is an art and not science
 it is a system or organisational oriented
 it is different from job satisfaction

2.3.2 Sources of Motivation
Hitt (2009), contributing to motivation was of the opinion that, there are basically three
categories of variables that determine motivation at the work setting thus;
(a) Characteristics of the individua l – the first category, are the source of internal or pus h
forces of motivation. This he claims is what the employee brings to the work setting.
Defending his point further asserts that three variables also contribute to an individual‟s push
forces: the persons (1) Need- such as security, self esteem, achievement, or power . (2)
Attitudes – towards job, a supervisor, or organisation and (3) Goals- such as task completion,
accomplishment of a certain level of performance, and carrier advancement.

(b) Characteristics of the job – the second category accordin g to him, relates to the external or
pull forces which concentrate in job characteristics of the person (what the person does at the
workplace). The characteristics he outlined as how much direct feedback he receives, the
work load, the variety and scope o f tasks and degree of control the person has in terms of
how he or she works.
(c) Characteristics of the work situation – the third category he identified, and from his
submission it clearly shows that it relates to the work situation of the person, talking about
what actually happens to the person. A further reading by the researcher, revealed that this
category has two sets of variables: th e immediate social environment comprising the person‟s
supervisors, working group members and subordinates; and the various types of
organisational actions such as the firms rewards and compensation practices, the availability
of training and development, and the amount of pressure applied to achieve high levels of
output.

2.3.3 Types of Motivation
Extrinsic Moti vation
It is related to tangible rewards such as salary and fringe benefits, security, promotion,
contract of service, the work environment and conditions of service. These are what need to
be done to or for people to motivate them. They are often determi ned at the organis ational
level and may be largely outside the control of the individual managers. Extrinsic motivators
can have an immediate and powerful effect but will not necessary last long (Mullins, 2005;
Armstrong, 200 3).

Bernard & Stoner (2005 ) proposes the following are incentives for employees: Salary, Wages
and Conditions of Service: To use salaries as a n effective motivating tool, personnel
managers must con sider four major components of salary structures. These are the job rate,
which relat es to the importance the organis ation attaches to each job; payment, which
encourages workers or groups by rewarding them according to their performance; personal or
special allowances, associated with factors such as scarcity of particular skills or certain
categories of information professionals or librarians, or with long service; and fringe benefits
such as holidays with pay, pensions, and so on. It is also important to ensure that the
prevailing pay in other library or information establishments is taken into consideration in
determining the pay structure of their organization.
Akintoye (2000) asserts that money remains the most significant motivational strategy. As
far back as 1911, Frederick Taylor and his scientific management associate described money
as the most important factor in motivating the industrial workers to achieve greater
productivity. Taylor advocated the establishment of incentive wage systems as a means of
stimulating workers to higher performance, commitment, and eventually satisfactio n. Money
possesses significant motivating power in as much as it symbolizes intangible goals like
security, power, prestige, and a feeling of accomplishment and success.
Katz, in Sinclair, (2005) demonstrates the motivational power of money through the process
of job choice. He explains that money has the power to attract, retain, and motivate
individuals towards higher performance. For instance, if a n information professional has
another job offer which has identical characteristics with his current job , but greater financial
reward, there is the probability that , that worker would be motivated to accept the new job

offer. B anjoko adding to it stated that managers use money to reward or punish workers. This
he said is done through the process of rewardin g employees for higher performance by
instilling fear of loss of job. The desire to be promoted , and earn enhanced pay also motivate
employees. No matter how automated an organisation may be increased performance
depends largely on the level of motivation and the efficiency of the workforce.
One way managers can also stimulate motivation is to give relevant information on the
consequen ces of their actions on others (Olajide, 2000). To the researcher there is no
organisation in which people do not usually fe el there should be improvement in the way
departments communicate, cooperate and collaborate with one another. Information
aavailabity brings to bear a powerful pressure where two or more people running together
will run fast than when running alone withou t being aware of the pace of your competitors.
This implies that by making information flow subordinates compete with one another.
More often firms use hedonic goods or services as non cash rewards; items that are
associated with pleasure experience rather than more instrumental of functional items (Dhar
& W ertenbroch, 2000) when considering whether to exert additional effort in pursuit of a
bonus award such as this, the employee must predict what the item offered is worth to them.
The hedonic nature of inc entives triggers an effective reaction to the incentive that becomes a
more salient attribute than the cash value of the incentive. This fact leads people to use their
feelings as information when determining the value of the incentive (Hsee, 1996a;
Loewen stein, Weber, Hsee, & Welch 2001; Schwarz & Clore, 1988).Because these feelings
are difficult to monetize, cognitive and motivational forces allow for the perceived value of
the awards to be inflated.

For instance, studies have revealed that motivated rea soning has found out that people tend
to imagine best case scenarios when imagining the consumption utility of a hedonic reward
(Kunda , 1990 ) this means that thoughts about a trip to B usua beach will be about lying on the
beach rather than possibly negati ve thoughts of the trip. Even though the thought of a cash
bonus may emotionally charge as well, the economic value of money is more easily calculated.
This makes cash award less prone to the biases which inflate the perceived utility of a hedonic
non mone tary reward. When an item is evaluated on its effective value, it is predicted utility is
also more ambiguous than that of cash. Cognitive dissonance reductions suggests that if an
employee is working hard to achieve the awards , then he or she will attem pt to convince
themselves that the award is worth a great deal to them bringing beliefs in line with their actions
(Bem, 1967; Festinger, 1958; Quattrone, 1985).

Intrinsic Motivation
This is related to psychological rewards such as the opportunity to use one‟s ability. A sense
of challenge and achievement, receiving appreciation, positive recognition and being treated
in a caring and considerate manner. Psychological rewards are those that can usually be
determined by the actions and behaviour of the individual managers (Mullins, 2005).
Intrinsic motivators are concerned with the quality of work life, and are likely to have deeper
and long term effect because they are inherent in indivi duals and are not imposed from
outside (Armstrong, 2006)

2.4 Motivation Theories

Critical search of literature on the subject matter brought to the fore that, several theories of
motivation have been developed , and were particularly relevant for work sett ings. But the
most interesting revelation was the mere fact that, each of these theories highlights one or
more of the variables of motivation. However, it was also relevant to acknowledge th at
almost all these theories were propounded by American psychologist /scientist.
This brings to the light an obvious and inevitable question: Do these theories apply only in
the context of American cul ture and society or they can be used every where? The answer the
researcher believes will be easy for everybod y to answer after a careful examination and
comparative analysis of the models.
Psychologist typically grouped motivation theories into two categories namely; the content
theories and process theories. The content theories Hitt (2009), argued addresses th e issue of
what needs a person is trying to satisfy and what features of the work environment seem to
satisfy those needs. Such theories he was of the opinion tries to explain motivation by
identifying (a) internal factors, that is particular needs and (b) external factors, particular job
and work situation and characteristics that are presumed to cause behaviour . The process
theories work motivation deal t with the way different variables combine d to influence the
amount of effort put forth by an employee .
Malik, Ghafoor & Naseer (2011), in contributing to this school of thought said it attempts to
explain and describe how people start, sustain and direct behaviour aimed at the satisfaction
of needs or reduction of inner tension. The major variables in this model are incentives,
drive, reinforcement and expectancy.

A comparative analysis of th e two blocks obviously indicated that, the content theories place
much premium or emphasis on the nature of needs to be satisfied and what actually motivates
whiles the process theory has it s focus on the actual process of motivation .
It was realis ed during study that , the staff of Guaranty Trust has a way of standing up to
tension (unsatisfied needs) and to a larger extent assumes that, there is one best way to
motivate each and every one of them to sustain and direct their behaviour at work .
2.4.1 Maslow’s Hierarchy of Needs
This theory was propounded by Abr aham Maslow. It was base d on the assumption that
employees are motivated by series of five universal needs , these range of needs he claimed
the individual will be motivated to fulfill whichever is most powerful at the time of need
(Maslow,1970) . This need, literature makes us to understand he grouped them into; Lower
order needs – which he claimed are dominant until they are at least partially satisfied. From
this angle it can be realis ed that any normal human being would turn his attention to satisfy
needs at the next level giving rise to higher -order needs which gradually becomes dominant.
To make the theory simple , Maslow ranked these needs in a hierarchical fashion;
Physiological N eeds
Physiological needs according to Maslow (1970) are the basic needs for survival and deemed
it to be the lowest – level needs. These needs include d needs suc h as food, water and shelter.
These are the basic necessities a human being needs to survive and as a matter of fact cannot
do without it. He was of the strong opinion that even if all the other needs are unsatisfied
then physiological needs will dominate . So long as physiolog ical needs are unsatisfied, there
exist as a driving or motivating force in a person‟s life. A hungry person has a felt need and

this felt need ignites both (psychological and physical) tension and manifest itself in a
manner directed towards reducing the said tension (getting food to eat) thus, people will
focus on activities that will help them survive . Once the hunger is satisfied tension is reduced
and the need for food ceases to be a motivator.

Safety Needs
The next level in the hierarchy was what he termed as safety needs – the search for shelter,
security, stability, dependency, protection, freedom from (anxiety, fear and chaos), and a
need for structure, order, and law. In the work setting this needs translate into a need f or at
least a minimal degree of employment security; and the assurance that we cannot be
dismissed or sacked on irrelevant issues and that appropriate levels of effort and productivity
will ensure continued employment.
Social N eeds (belongingness needs)
According to Hayes (2009) , if a person has the first two levels of needs well gratified, the
emergence of social needs (sense of belongingness and love) becomes the next objective. At
this stage in life, a person hunger for the affection of others and woul d want to be placed in a
group or family. Relating this to the work place, as outgoing creatures, humans have a need
to belong and this can only be satisfied by an ability to interact with one‟s colleagues and be
able to collaborate effectively to achieve organisational goals.
Esteem Needs

Maslow (1970) , observed from the research conducted with his patients that humans after
gratifying social needs would now crave for what he calls esteem needs – thus, the desire for
self respect , esteem, and the esteem o f others. Self respect he defined as the need for a sense
of (achievement, competence, adequacy and confidence ). Digesting his submission carefully,
and relating it to the workplace setting, externally, people seek needs like desire for
reputation and recognition, prestige, status, fame, glory, dominance attention and
appreciation in the eyes of other people .
Self-Actualis ation Needs
The highest need in Maslow‟s hierarchy, arguable though. Self actualis ation refers to the
desire for self fulfilment, realis ation of a potential, continuous self development and the
process of becoming you. Expatiating further, Hitt ( 2009), added that at this level, indivi dual
differences are dominant as the emergence of these needs rest upon some prior satisfaction of
the previous four. The researcher observed that, at this point, people seeking to satisfy this
need will actually, look for personal relevance and value new responsibilities that may help
discover new talents.
Fig 2.1 Maslow’s Hierarchy of Needs

Source: Author’s Own Construct, June 2012.

A critical look at the theory in its entirety, the researcher begs to differ , and does not share in
the Maslow‟s opinion entirely . First, he claimed that workers have multiple needs, which
indeed is true because of the complexity of human nature. Secondly, he made it emphatically
clear that human needs are grouped into levels, creating a hierarchy so to speak, it is not true
in the sense that , science has proven that human nature is complex making them flexible in
their ways of doing things. This makes it extremely difficult to subject them to the
measurement of rigid instruments and more , be able to order their needs into a defined
hierarchy. Thirdly, he assumed that a need once satisfied, is no longer a need. The argume nt
is that the needs of workers cannot be automatically fixed as the pilot survey revealed that

there were gaps between the staffs needs and at a point in time some were overlapping .
Individual workers at the bank also took exception to the fact that they do not graduate or
progress along a particular line rather unconsciously may be obsessed by a higher need , that a
lower need may go unnoticed. Finally, a tension or behaviour may not be ignited a single
need but several of them.

2.4.2 Alderfer’s Hierarchy of Motivational Needs (ERG THEORY)
The ERG theory was propounded by Clayton Alderfer in 1972 as a quick response to the lack
of empirical evidence for the hierarchy of motives presented by Maslow in 1970. His
objective was to align it more close ly with empirical research. Notwithstanding, Alderfer‟s
version of the needs theory was built on the ideas of Maslow. Studying the issues carefully
one can clearly conclude Alderfer only sought to present an alternative approach rather than
reject the theo ry. The ERG he defined as; Existence , Relatedness, and Growth .
Existence need s: he defined as including all basic material existence requirements;
(Maslow‟s physiological and safety needs).
Relatedness Needs : he referred to as the quest of people to mainta in interpersonal
relationship with other people -family members, colleagues, bosses, and subordinates. He
explains further by saying people satisfy this need by sharing thoughts and feelings.
(Maslow‟s social/love need and the external component of his este em need).
Growth Needs : He referred to as what impels a person to be creative or have an impact on
his her environment thus, the desire for personal development. He was of the opinion that

this level of needs can be catere d for by engaging in challenges that demands that you use
your skills or require that you initiate new ones (Maslow‟s esteem need, and self
actualisation). In the nutshell, Alderfer believes that three categories of needs are active in
every person but vary in degrees and strength.
Alderfer's ERG theory differs from Maslow's Need Hierarchy insofar as ERG theory
demonstrates that more than one need may be operative at the same time . ERG theory does
not assume a rigid hierarchy where a lower need must be substantially satisfied before one
can move on. Alderfer also deals with frustration . That is, if a higher -order need is frustrated,
an individual then seeks to increase the satisfaction of a lower -order need.
According to Maslow an individual would stay at a certain need level until that need was
satisfied. ERG theory counters by noting that when a higher – order need level is frustrated the
individual‟s desire to increase a lower – level need takes place. Inabil ity to satisfy a need for
social interaction, for instance, might increase the desire for more money or better working
conditions. So frustration can lead to a regression to a lower need.
In summary, ERG theory argues, like Maslow, that satisfied lower – order needs lead to the
desire to satisfy higher -order needs; but multiple needs can be operating as motivators at the
same time, and frustration in attempting to satisfy a higher – level need can result in
regression to a lower – level need.
Table 2.1: Alder fer’s Hierarchy of Motivational Needs
Level Of Need Definition Characteristics

Growth Impel a person to make creative or
productive effects on himself and his
environment Satisfied through using
capabilities in engaging
problems; creates a great sense
of wholeness and fullness as a
human being

Relatedness Involve relationships with significant
others Satisfied by mutually sharing
thoughts and feelings;
acceptance, confirmation,
understanding, and influence are
elements

Existence Includes all of the various forms of
material and psychological desires When divided among people one
person‟s gain is another‟s loss if
resources are limited
(Source: Napaporn, 2009 )

Fig 2.2 Comparison of Maslow and Alderfer’s Hierarchy of Needs

Source: Author’s Own Construct, June 2012

2.4.3 Acquired Needs Theory -(McClleland 1955 )
Another content theory which also centered on needs was propounded by an American
psychologist. This theory focuses on learned or acquired needs. He proposed three of these
needs to be the underlying principle for this theory; hence the refe rence of the theory as three
needs theory.
(a) Need of achievement (nAch) – to set and meet standard of excellence .
(b) Need of power (nPow) –to have control over one‟s environment .
(c) Need of affiliation (nAff ) – to develop and maintain interpersonal relations .

Fig 2.3 : Model of Acquired Needs Theory

Source: Author’s Own Construct, June 2012
Mc Clleland (1955) contended that a person who has a high need for achievement is
someone who habitually strives for success or goal attainment. He was of the view that,
rather than being arranged in a hierarchy, individu al possess each possibility of conflicting
needs, which motivate their behaviour when activated.
He further opines that, the presence of these motives or drives in an individual indicates a
predisposition to behave in certain ways. Therefore, from a manager's perspective,
recognizing which need is dominant in any particular individual affects the way in which that
person can be motivated.
In summary , all the theory postulated was , people with achievement motives are motivated
by standards of excellence, delineated roles and responsibilities and concrete, timely
feedback. Those with affiliation motives are motivated when they can accomplish things with
people they know and trust. And the power motive is activated when people are allowed to
have an impact, impress those in power, or beat competitors.

At Guaranty Trust Bank, the need for achievement was exhibited by staff throug h the
avoidance of low risk activities, the risk of failing in a given assignment and setting
themselves moderate, realistic, smart, time bound and achievable goals all towards the main
organisational goal.
That of affiliation was seen through the spirit of conforming to organisational agenda , rather
than standout, seeking approval from the collective whole rather than seeking individual
recognition, supporting co workers and iron out their differences and finally believed in team
work than seeking persona l glories and extending it to their social activities.
The need for power manifested itself in the form of workers having the platform to make
critical suggestions at meetings, lending a helping hand to handicapped colleagues to
increase organisationl effe ctiveness, enjoying competition from colleagues and winning and
having the will power to approach co workers on certain issues affecting the development of
the bank. It was very evident that all the staff members possessed a combination of these
three need s and the dominant ones were perceived to have driven their behaviour.

2.4.4 Two – Factor Theory (Fredrick Herzberg)
Herzberg (1959) Two- factor theory, also known as the Motivation – hygiene theory . The
theory centered or related to the nature of a person‟s work. The theory sought to distinguish
between factors that can increase job satisfaction (motivators) as against those that can cause
dissatisfaction but cannot increase satisfaction. Herzberg te rmed the motivators as intrinsic
factors directly related to the doing of a job such as the nature of work, responsibility level,
personal growth opportunities and the sense of achievement and recognition. The other

factors “hygiene” factors as extrinsic t o directly performing the job. They are less conditions
associated/surrounds the job. These factors he outlined as supervision, relations with co
workers, working conditions, administrative policies and practices related to benefit and
compensation.
Studying the theory carefully the researcher realise d that Maslow and McClelland touched
on motivation but Herzberg sought to replace motivation with satisfaction. These two
concepts are totally different. Objectively , being pleased (satisfied) with doing a more
challenging set of tasks does not mean you will be motivated to do your job better .
Table 2.2 : Classification of Herzberg’s Two Factor Theory
Hygiene ( Maintenance factors)
(Job Environment)
Extrinsic Factors Motivation factors
(Job Content)
Intrinsic Factors
Company Policy /Administration Work Itself
Supervision Achievement
Interpersonal Relations Responsibility
Working Conditions Growth and Advancement
Source: Author’s Own Construct, June 2012

2.4.5 Frederick Winslow Taylor
Frederick Winslow Taylor (1856 – 1917) put forward the idea that workers are motivated
mainly by pay. His Theory of Scientific Management argued that :

Workers naturally do not enjoy work and so need close s upervision and control and advised
managers to break down production into a series of small tasks
Workers should then be given appropriate training and tools so they can work as efficiently
as possible on one set of task. Workers are then paid according to the number of items they
produce in a set period of tim e- piece -rate pay. As a result workers are encouraged to work
hard and maximise their productivity.
Taylor‟s methods were widely adopted as businesses saw the benefits of increased
productivity levels and lower unit costs. The most notably advocate was Henry Ford who
used them to design the first ever production line, making Ford cars. This was the start of the
era of mass production.
Taylor‟s approach had close links with the concept of an autocratic management style
(managers take all the decisions and simply give orders to those below them) and
Macgregor‟s Theory X approach to workers (workers are vie wed as lazy and wish to avoid
responsibility).
However workers soon came to dislike Taylor‟s approach as they were only given boring,
repetitive tasks to carry out and were being treated little better than human machines. Firms
could also afford to lay of f workers as productivity levels increased. This led to an increase
in strikes and other forms of industrial action by dis -satisfied workers.

2.5. Expectancy Theory
The expectancy theory was propounded by Victor Vroom a psychologist in 1964 . The the ory
is only applicable to a work setting that is based on people‟s expectations. The focus of the

theory is on the thought processes people used when they face d particular choices among
alternatives particularly choices/ alternative courses of action. Literatu re reviewed revealed
the following as the underlying principles of the theory; individuals make conscious effort to
behave in a certain manner, individual values with regard to choosing desired outcomes,
individual expectations concerning the amount of eff ort required to achieve a specific
outcome and individual expectations concerning the probability of being rewarded for
achieving desired outcomes. Vroom through these principles sought to portray that
motivation is a function of the relationship between; effort expended by an individual and
perceived level of performance; and the expectation that reward for desired outcomes will be
related to performance. On the other hand there must also be the expectation that rewards are
available as it will go a long way determine the strength of the motivational link thus, the
strength of the individuals preference for an outcome and the belief that in the possibility
that particular actions will achieve the required goal. To make the expectancy process simple;

Effort →Required performance → Desired outcome
Force = Valence × Expectancy
Where force is strength of motivation, valence is strength of preference for outcome and
expectancy is the level of belief that changes in behaviour will achieve the required ou tcome .
Looking at the theory and it s complex ity in nature one could only make recommendations to
management , to as a matter of fact try to find out desired outcome each of the bank values
most, define the goal and what constitute the level performance needed to achieve it. But
management should also not lose sight of the fact that the level of performance is realistic

and achievable. After a period of time management should be able to measure the outcomes
by the performance desire d by management. One thing worth noting is that the strategies put
in place should not create conflict between the expectations it sought to create and other
militating factors in the work environment. Finally, outcomes should be attractive and
enticing en ough to ignite the desired level of performance.

2.6 PERFORMANCE
Herzberg (1959) says having fewer di s-satisfiers does not motivate a worker to do a good
job, but only to stay in it . Worker performance clearly depends on their level of motivation,
which s timulates them to come regularly, work diligently, be flexible and be willing to carry
out the necessary tasks. The performance and quality of banking service depend s on the
quality and motivation of banking human resources . Therefore, bankers‟ motivation is likely
to have effect on the delivery of banking service and the outcome on customer care and
performance of work .

2.6.1 How Motivation Affect Performance
Motivation is the internal process that leads to behaviour that satisfies needs. Therefore ,
performance formula;
Performance = Ability × Motivation × Resources (2×2×2 = 8)
Looking at the equat ion carefully it shows that workers can have as much ability and the
necessary resources at their disposal but will still fail to perform. In other words all that

equation is depicting is that without motivation performance is usually below potential
(Carter & Shelton, 2009).

2.6.2 Factors Affecting Workers Motivation and Performance
Motivation at work is widely believed by most writers on the subject to be a key factor for
performance of individuals and organisations and also a significance of intention to turnover.
There is a strong link between job dissatisfaction, lack of motivation and intention to
turnover. There are three factors that play key role in performance;
 The ability of staff to do their job;(the capacity or can do factors)
 The motivation of staff, to put in effort to do their job, (the ability or will to do
factors).
 The organisational support or opportunity to do the job well (availability of
resources).
In other words , performance depends on whether the staff perceives them selves as able to do
things, whether they are willing to do things and whether they have the means to do them .

Fig 2.4 Relationship between Motivation and Performance

Source: Author’s Own Construct, June 2012
A cursory look at fig 2.5 , is show s that theoretically , there is a relationship between
motivation and performance in the sense that, an organisation can recruit all the best
employees with the right mix of skills and qualification, go the extra mile of securing all the
necessary resources needed for production and ensure that their needs catered for,
performance will still be zero if, the drive „to do‟ is absent. In a situation where all these
variables come to play, coupled with motivation factors (thus ability or the will to do) then
performance will be at the optimum. Therefore, the linkages with one another and finally all
directed towards performance.

2.6.3 How Employee Motivation Affects Employee Performance
According to Kotelnikov (2008) , the extent to which employees are motivated in their work
depends on how well those employees are able to produce in their job. He goes further , to
assert that motivation is expected to have a positive effect on quality performance;
employees who are char acteris ed by a high level of motivation will definitely show higher
work and life satisfac tion. Having high level of motivation in itself is valuable for employees
and a decrease in level of motivation might affect employees negatively, the motivation in
this case will lead to higher level of initiative and creativity from the employees and where
monitoring is difficult, motivation is therefore extremely important for ensuring high quality
performance.

2.7 Types of Rewards
The subject motivation can never be tackled or discussed without making mention of reward.
Reward system is much more than just bonus plans and stock options. It is actually a process
that reinforces or drives innate feelings , to meet the targeted and accepted standards. Many
believe it should not be seen as a ritual affair b ut a continuous activity to be undertaken by
management.

2.7.1 Monetary Rewards
It is certainly the most common and widely used approaches to facilitate recruitment,
retention, motivation and performance. Financial rewards include direct or indirect payment

such as wages or salary, bonuses, insurance, merit pay, allowances, loans and tuition
reimbursement. Providing adequate and timely reward is important to guarantee the
recruitment of motivated and qualified staff.

2.7.2 Non Monetary Rewards
There are different types of non monetary rewards, such as work autonomy, recognition,
from supervisors , so employees will feel their efforts are noticed and valued. Career
development and professional growth opportunities will help employees to develop new
skills, knowledge expansion, and increase their visibility within the organisation, intern al
promotion opportunities as a long plan, and shift work flexibility.

2.7.3 The Importance of the Reward System
Money whether in the form of wages, piecework, incentive pay, bonuses, stock options,
company paid insurance or any of the other things given to people for performance, money is
important. Economists, accountants and many managers tend to regard money as a prime
motivator (Jishi, 2009).

However, behavioural scientists tend to place it low on the scale of motivators. Probably,
neither view is co rrect as an all -embracing approach; it depends on the individual. Money in
the form of pay is a powerful motivator, which can be related to the motivational theories
that we have examined. In discussing money as a motivator it is necessary to recognise its
effects at two levels;

 Money in absolute terms, as an exact amount, is important because of its purchasing
power. It is what money can buy, not money itself that gives it value.
 Money is also important as an indication of status.

2.7.4 Incentive Schemes
There are several features which are unique to money as a motivating force and which can
affect workers in different ways:
Money is more important to people who are seeking to establish an initial standard of living
rather than those who have arrived. Schumacher (2008) defined his principle of motivation in
which he states that if all efforts by the company are devoted to doing away with work by
automation and computerisation, then work is a devalued activity which people put up with
because no other way h as been found of doing it. People would therefore be working just for
money. Most organisations use money not as a motivator, but simply as a means of ensuring
adequate staffing. The need for apparent fairness encourages the use of salary grades and
hence comparability of earnings. Financial incentives operate with varying strengths for
different people in different situations. Much research has shown that money is not a single
motivator or even a prime motivator.

2.7.5 Way s of Motivating Employees
Worman (2008) contributing to the subject motivation enumerated the following ways of
motivating employees;
1. Recognition and Attention. Worman touching on this point argued that , when employees
accomplish a mission , they believe that indeed they have achieved something and have the

mindset that recognition from management is an appreciation for that achievement. But the
challenge is here that, most managers do not give enou gh recognition because they
themselves do not get enough.
Giving recognition to employees is something that does not come naturally to do , but
requires much effort and consistency to achieve it. At Guaranty Trust Bank it was realised
during the pilot survey that employees felt unrecognised. In that , there had been instances
they felt that management should have at least given them a pat on the shoulder after
successfully executing a task.
The researcher therefore , contends , that employees do not all the time require cash, as it is
the perception of most managers t o be motivated to give off their optimum best, but
sometimes mere appreciation is enough for he or she to feel at home and perform very well.

2. Applause . Closely related but , a form of recognition which comes in a very specific form.
Worman (2008) maintained that physically management should applaud employees by giving
them a round of applause for specific but extraordinary achievements. He buttressed the point
when he indicated that, the opportune time is at meetings or social gatherings, a luncheon, or
in the office.
A close look at this point , it came as no surprise to the researcher when it had to follow
recognition and appreciation. The two are indeed related and the onus lies with management
to identify when, where and ho w this particular form of motivation can be employed
effectively to increase performance.

3. One-on-One Coaching . Coaching is employee development which is an important aspect
of every organisation. The only cost for embarking on such an exercise is time. Time in this
context means you care. And it is worth noting that employees do no t care how much you
know u ntil they know how much you care.
Chapman (2009) added that w henever the emp hasis is on positive feedback, it is only wise
that the coachin g is done in "public." Whenever you recognis e and encourage people in
"public," it acts as a natural stimulant for others who are close enough to see or hear what is
taking place.
Arguably one of the most effective ways of m otivating employees, the study revealed that the
bank as a way of motivating its staff gives senior members the opportunity to take freshmen
through the rudiments of the job and who from time to time coaches them when they are
chatting the wrong course.
4. Training : For whatever reasons known to management of most organisations they think
that people hav e already been trained or have got good people who only need a little training.
But Worman (2008) in his article titled “ways of motivating employees without money”
disagreed and claimed that training never ends and is a continuous exercise .
This is one notion shared by almost all institutions; the perception is that once you come out
of school it means you are fully fledged to fit into the scheme of things. It is never the case;
most fresh graduates require intensive training in addition to the knowledge acquired to be
able to perform. Scheduling “tune- up" training sessions the researcher believes is very vital.
Such training sessions as a matter of fact should be led by management or by a supervisor

with help from specific employees who show a particular strength in the skills taught. It may
be seen to be time consuming, bu t such training sessions will continually enhanc e the
performance of banking staff and the productivity of the business .
5. Career Path . Employees , as vital as they are to the bank, need to know what is
potentially ahead for them, what opportunities there are for growth. This issue is sometimes a
forgotten ingredient as to the importance it plays in the overall motivation of people. The
reality is that management in recruiting staff entices them with nice packages, after
employment all these nice packages vanish into thin air.
In support of the argument the researcher charges that, management within their power
should set career paths within their organis ation s if possible , promote from within. Although
specific circumstances may require that management look for talent outside the company , it
is always appropriate to first consider intern al personnel. Such actions send a very positive
message or signal to every staff member , that there are indeed further c areer opportunities
within the organis ation.
6. Job Titles . Job titles in this context Worman (2008) meant , tapping the self -esteem of
people, thus , how someone feels about the way they are perceived in the workforce , which is
a critical component to over all attitude and morale. Imagine a social gath ering that includes
some of the staff of the institution . The subject of wor k inevitably comes up. How will the
people feel; proud, or embarrassed, to share their title and workplace? The importance of
feeling proud of who you are and what you do is monume ntal.

Management should be creative as they think of possi bilities for titles. They should have staff
come up with ideas giving them input into the titles. The bottom line is, you are dealing with
pride and pride enhances a positive attitude and a positive attitude is the foundation for
continuing success.
7. Good Work Environment : Literature reviewed brought to the fore how inaccurate results
can be. Reporting on the issue Mc Coy (2000), in a study conducted asked Employers to rank
what they thought motivated their people and then employees were asked to rank what really
did motivate them.
According to the study employers felt "working conditions" was a nine (or next to last) in
terms of importance. Employees saw it otherw ise ranking it Number two! Giving an
indication that w orking condit ions were very im portant to the way employees fe lt about
where they work.
Most staff members of the bank highly supported this point and advocated that working in an
office with pictures on the walls, plants; nice flowers, furniture, and enough space among
other features generally make people fe el good about their environment and give of their best
for maximum performance. On the other hand working in an office where all these elements
are absent coupled with unregulated temperature considering a banking hall they together
with the customers may feel they are in the Amazon jungle one minute and the North pole
the next minute so to speak.

8. On-the-Spot Praise : Also believed to be associated with recognition but the key thing
here is timing. When there is a reason for praising someone , Hitt (2009) reiterated that
management should not put it off for any reason. Promptness equals effectiveness.
The study shared the opinion of Hitt. It is appropriate that employees be praise d when the
achievement is fresh on everyone's mind. The challenge of most management is their
attitude of allow ing time to creep in and sna tch away any ounce of the positive impact that
praise can have when it is delivered promptly.
9. Leadership Roles : Giving employees leadership roles to reward their performance will
also help you to identify future promotable people. Most people are stimulated by leadership
roles even in spot appearances. For example, when visitors come to your workplace use this
opportunity to allow an employee to take the role of visitors guide.
A great place to hand out leadersh ip roles is to allow employees to lea d brief meet ings.
Utilis e their strengths an d skills by setting up training sessions and delegating one of your
employees to lead the training. The best time to d o this is when new people start (Worman,
2008).
Another opportune time conducive for such act ions is to assign someone who has attended an
outsid e seminar or workshop lead a post show that is briefing the other employees regarding
seminar content and highlights.
The researcher observed that workers who have worked with the bank for over five years are
assigned these responsibilities of taking new staff through the bank‟s working procedures and
rules and in house training sessions.

10. Team Spirit : One very effective idea for most organisations has been the policy of team
spirit among employees. Building a collage of creative ideas with the "Team" theme. All
employees are responsible for submitting a phrase referring to TEAM on a weekly rotation.
Each of these ideas (such as TEAM: Total Enthusiasm of All Members or There is no I in
Team) is placed on a wall, creating a collage of Team -oriented phrases. Don't have on e
person responsible for this do it as a team (Worman, 2009).
11. Social Gatherings : Scheduled offsite events enhance bonding which in turn helps team
spirit, which ultimately impacts your positive work environment. Outings like Christmas,
Easter parties are only some of the ideas that successfully bring people together for an
enjoyable t ime. Some others like keep fit exercises inter- departmental games are also very
effective in motivating employees.
12. Outside Seminars : Outside seminars are a stimulating break for employees after long
period of si tting behind their computers and working . Because outside seminars are not
always cost efficient for most people , management may consider on -site seminars or
workshops for their staff. It can be used as a contest prize for one or two people. Then set up
a structured plan for those seminar attendees to briefly recreate the seminar to the rest of your
people wh en they return (Napaporn 2009)
Doing such a thing the researcher believes may spur other emplo yees on to give of their best
with ultimate hope of being selected to be the lucky. The selection if possible should be done
by colleagues by putting to vote as to who in their opinion was outstanding

13. Additional Responsibility : There are defi nitely employees in every organis ation who are
willing, begging for and can handle additional responsibility. Such employees do n ot do it
out of pride but their love for the job. The responsibility of management here is to identify
who they are and if possible ma tch responsibilities to their strengths and desires.
This is also a smart way of motivating employees to increase performance. Giving them that
additional responsibility makes them have a feeling that are responsible and equal to
whatever task given and w ill go the extra mile to execute it with due diligence.
14. Stress Management : It is one of the silent but major factors that is causing low
performance among employees (Worman, 2009). He added that t here are many articles and
book s available on the subject and encouraged management to make the reference material s
available to their people. He further recommended that, if possible, have an in -house
seminar on stress management techniques . So that production time is not lost.
As human beings we have our own problems and that of family adding to it, coupled with
that of the workload brings a lot of stress if not well handled affects our output which will
eventually lead to low performance .
2.8 Conclusion
It is the prime expectat ion of management from their employees‟ to exhibit increased
productivity. To realise this, behaviour has been found to be of utmost importance. Employee
behaviour as a matter of fact is also highly influenced by the environment one finds him or
herself making the employee a major function that employees innate drives or needs
(motivation) and the avenues he or she has to satisfy in the workplace

CHAPTER THREE
METHODOLOGY

Introduction
This chapter presents the research methodology and the methods as well as the justification
of the choices and their uses. I n addition , the research process and design, study population
and setting , sample and sampling procedur es, data collection, pilot survey and data analysis
method and management .

3.1 Research Design
Research design involves a series of rational decision -making choices. The research design
was devised following a number of the researcher‟s decisions associated with the purpose of
the study . In other words, the research design is the step aimed at designing the research
study in such a way that the essential data can be gathered and analysed to arrive at a solution
(Seka ran 2003).
The study used both the quantitative and qualitative research design. Quanti tative research
uses objective measurement and statistical analysis of numeric data to understand and explain
a phenomenon. Qualitativ e research, in contrast, focused on understanding social
phenomenon from the perspective of human p articipants in the study.
The rationale for adopting the mixed approach design was that , they can be used to execute
any research activity notwithstanding the paradigm and this was supported by Tashakkori

and Ted dlie (1998) in their submission that the mixed approach of research design has the
advantages of one compensating for the weakness of the other.
The study also employed the case study research method alongside the two prominent design
to collect data and enable the researcher study into detail all the variables involved
especially the bank.

3.2 Study Population
The population of the research, the entire group of people that , the researcher wished to
investigate ( Sekaran 2003). It comprised a cross section of the staff of guaranty trust bank
with a working force of 474 people. The study found out that the institution had three
categories of workforce thus; the contract staff, permanent staff and management . Out of the
total workforce 36 % were contract work ers, 56 % permanent staff and remaining nine 9%
constituting management. This study decided to concentrate on management and permanent
staff leaving contract workers in the sense that they can be laid off at anytime.

3.3 Sample Size
Sampling design and sample size are highly relevant to establish the representativeness of the
sample for generalisabiltiy (Berg, 2007). To have a fair repres entation from the categories 25
management members and 294 permanent workers giving a total of 319. Out of the 319 a
convenient sample size of 15 0 was drawn to undertake the study. Twent y-five management
members participated in this survey because they were the fore runners of the organisation

and their policies and programmes on motivation directly or indirectly affect t he performance
of the workers. The remaining 125 constituted the permanent staff.

The questionnaire administration and interview were the research instruments used by the
researcher to collect data from the respondents. In all a total of 150 questionnaire s were
designed and self administered.
The self administered questionnaire was employed to collect data from permanent staff of the
bank . It had five sections; the first part touched on the background of respondents thus; sex,
age, number of years served, educational level and department. The second part quizzed
employees on what they perceived as forms of motivation. The c – part asked employees to
rank their needs in the light of Maslow‟s hierarchy of needs. The fourth presented a set of
factors and resp ondents were asked to indicate the extent to which it motivated and impacted
on their performance at work; the last section sought to inquire from respondents their
general view on the importance of motivation. The rationale for using the self administered
questionnaire was to give respondents the liberty to answer the questions at their spare time
in the comfort of their homes and not be intimidated by the researcher or any superior. In all
thirty set of questions were asked and 97 of the questionnaires we re retrieved giving a
response rate of 64% showing a favourable response rate as compared to what was
established by Sekaran (2003) in literature, that in any given survey exercise a response rate
of 30% was considered most appropriate
Aside the questionnaire the study again utilis ed the interview as an instrument to collect data
from management. Management was quizzed on issues concerning motivational policies and

how best they can motivate staff to give off their optimum best. The rati onal for the interview
was to give the researcher the opportunity to adapt the questions as and when necessary,
clarify doubts or issues that were so clearly dealt with by staff and establish friendly
relationship with managemen t.

3.4 Sampling Techniques
The non probability design was employed in this study and to be specific the purposive
sampling techniques was the most appropriate for case study research. When developing a
purposive sample, researchers use their special knowledge about some group to sel ect
participants who represent their population. It was adopted to select samples in the groups in
order to ensure that certain types of units displaying certain attributes are sampled. Its biggest
limitation is the lack of generalisabiltiy.

3.5 Sources of Data
Data for the survey conducted was sourced from both the primary and secondary sources.
Primary data with respect to this research was data collected from the field survey conducted
with the staff and management of Guaranty Trust Bank.
The secondar y aspect had to do with information sourced from books, articles, journals,
reports and other relevant documents which were highly related to the subject matter
understudy. This category of data had 95% of it used for the review of related literature and
the remaining for justifying the choice of certain decisions taken .

3.6 Data Collection and Procedures
The survey was conducted in four regions in Ghana ; Greater Accra, Ashanti, Western and
Brong Ahafo regions. It does not make sense why four regions, the reason being that
Guaranty Trust B ank has six branches in out of the supposed ten regions in Ghana therefore
the study having to look at the selected four. The rationale for choosing the four was based
on Berg (2007) assertion that selecting a site or sett ing for a study it should be reasonable in
size and complexity so the study can be completed within the time and budget available.
Conducting a survey does not come so easy, so the researcher hired the services of field
assistants about four in number, wi th each assigned a region. The assistants were first briefed
on the purpose of the survey, taken through the questions and given a comp rehensive one
week tutorials as to what each of them meant . After which they were given their letters of
introduction and dispatched to their various destinations.
Field assistants took the first week to introduce themselves to management and in turn be
introduced to the staff. They went into action the next day, distributing questionnaires and
explaining issues that were no t clear to respondents. Respondents were given one month to
answer questionnaires with intermittent follow ups by field assistants to give explanations
when the need be.
After the one month it was realised that 130 questionnaires had been retrieved with as many
as 33 not in good shape and some not answered at all . The remaining 97 was well attended to
and in very good shape for analytical purposes.

The interview conducted with management was done by the researcher herself and it took a
period of three weeks to finish the exercise. One may wonder why it was smooth; it was all
because the researcher herself is an employee facilitating the process,

3.7 Challenges Encountered
During the data collection exercise numerous challenges were encountered of which all
cannot be recounted . The few the researcher observed and can recall was the inability of the
respondents to give the real situations on the ground with fear of being victimised.
Secondly, some of the respondents for no apparent reason decided not to attend to the
questionnaires which the researcher believed was going to affect the analysis and the
inability to generalis e the findings for similar situations.
Thirdly, the frequent visits to the place to impress upon staff to be up and doing with
answering of the questionnaires was perceived as a form of intimidation and too much
breathing on their neck which to a larger extent accounted for as many as 33 not been
returned.
Last but not least was the inability of field assistants to do follow up c alls to remind
respondents of the deadline for the return of questionnaires.

3.8 Data Analysis Methods
Data analysis by using questionnaire survey was expected to provide significant information
to fulfil the research questions and objectives of the stu dy. Data analysis according to
research objectives will be presented in (chapter 4). There are different types of scales
including nominal, ordinal, interval and ration which can be used to measure the
operationally defined dimensions and elements of a variable (Sekaran 2003), but only
nominal were used in this study . Many statis tical analysis methods including simple and
advanced techniques were used when necessary in this research in order to analyse the data
efficiently and effectively.

3.9 Ethics and Business Research
Ethics in business research refers to the code of conduct of behaviour wh ile conducting the
research. This should always reflect in the behaviour of the researchers who conduct ed the
investigation, the participants who provide d the data, the analysts who provide d the results
and the presentation of the interpreta tion of the res ults and suggested alternative solutions.
the study had already concentrated on various aspects of ethics consideration.
One primary responsibility of the research was treating the information given by respondents
as strictly confidenti al and guarding the ir privacy. T he purpose of research was explained to
respondents before conducting survey by presenting them with covering letters. The
researcher was concerned not to violate the self esteem and self respect of the subjects as
well.

Moreover, it was worthw hile bearing in mind that no respondent was forced to respond to the
survey, and consent of the participants was the ultimate goal of the study. This study was
conducted considering the ethical responsibility in accordance with the general principles of
research ethics concluded by Ticehurst and Veal (2000) that (1) no harm shall befall the
research participants (2) participants should take part freely, and (3) based on informed
consent .

3.10 Institutional Profile (Guaranty Trust Bank)
Guaranty trust bank (Ghana) limited a private bank operating in Ghana was registered in
October 2004 and two years later secured the license to operate in the country from Bank of
Ghana, on the 23rd of February, 2006. This paved the way for the bank to resume full
operations.
The institution is a subsidiary company of guaranty trust bank plc one of the leading banks in
Nigeria with a triple A rating. The bank pride itself with the fact that they are the locally
owned bank to be first listed on the London stock exchange.
As a bank that does not rest on its oars strived to become the first African bank to obtain
banking permit to resume fully fledged commercial banking activities in the United
Kingdom . The bank currently owns 95.72% of the issued share capital of the bank with
Nederlandse financierings Maatschappij Ontwikkelingslanden N.V . (FMO) having 2.14%
and a prominent Ghanaian businessman, holding the remaining 2.14%.

The Bank has staff strength of 714 with Ghanaians having 99 % an indication of having great
concern to invest in the financial and give meaning to development of the private sector as
the engine of growth in Ghana. The bank thrives on its state of the art IT facilities to roll out
custo mized e -banking products and services to meet the increasing demands and needs if its
Ghanaian customers within and without.
Guaranty Trust B ank Ghana operates an open door policy that reinforces the informal
atmosphere and breeds a feeling of eq uality am ongst its customers. The bank as a matter of
fact operates on flat type of organisational hierarchy that facilitates effective and efficient
communication procedures and prompt decision making.
The Bank is gover ned by eight set of orange rules in its opera tions thus, Simplicity,
Professionalism, Quality Service, Friendliness, Excellence, Trustworthiness, Social
Responsibility and Innovation.
In 2010, the B ank saw its efforts rewarded as they were nominated and adjudged the Bank of
the Year 2009 and 2010 award in Ghana and some other major awards for their selfless and
dedicated service to the land . (GT Bank, 2011) .

3.9 Summary
This chapter presented the methodology and method used in this study including information
gathering, development, pre -tests, pilot survey, data collection and data analysis. Data
collection included a discussion of population, sampling design and size, the survey
procedure amo ng others.

CHAPTER FOUR
DATA ANALYSIS AND FINDINGS

4.1 Introduction
The fourth section of the research report, i n this chapter, the first part of the study presented
background analysis of data and proceeded to present the results and its interpretation in the
light of the research objectives and questions in the same sequence as listed in chapter one.
The second part linked the findings of the study to the literature reviewed in chapter two.

4.2 Background Analysis of Data
A total of 150 workers participated in the study with an equal number of questionnaires sent
out and responded to by the workers of Gua ranty T rust bank (respondents) . After the field
survey 130 questionnaires were returned , out of this number 97 were well answered
repre senting a response rate of 64% and in good shape for serious analysis. This showed a
favourable response rate as compared to what was established by Sekaran (2003) in
literature, that in any given survey exercise a response rate of 30% is considered most
acceptable.
The remaining 33 were not usable as some of them were not touched at all and others had 2
or 3 out of the 30 questions asked.

4.3 Demographic Features of Respondents
The results from the survey as presented in summary from table 4.1 shows that majority
(55%) of the institution‟s workers were females. They formed the majority because it is
perceived that women are more careful with money than men. It could be strongly confirmed
from the researche r‟s observation, it could be realised that all the areas that had to do with
handling physical cash was under the care of women. The remaining (45%) comprised their
male counterparts.
Table 4.1: Gender of Respondents
Gender Frequency Percentage
Male 44 45
Female 53 55
Total 97 100
Source: Field Survey, July 2012
Table 4.2: Age of Respondents
Age Range Frequency Percentage
Between 20 -30 37 38
Between 31 -40 42 43
Between 41 -50 18 19
51 and above _ _
Total 97 100
Source: Field Survey, July 2012

The data collected from the field indicated that respondents who participated in the survey
and responded to issues raised had majority of them thus (42%) between the age range of 31 –
40 and mostly in the middle level management, followed by those between the range of 21 –
30 forming (37%) at lower level, and that of 51 -60 having (19%) being the top ma nagement.
The summary presented on table 4.

4.3.3 Number of Years Spent On Job
Respondents who took part in the research survey had worked with the bank for a period of
1-5 years representing 79% indicating that, they responded more to the exercise , and from
interviews conducted with management they were the bank‟s permanent workers barring any
misconduct. It was refreshing to have had such a greater percentage respond to the issues in
that, they had worked with the bank for an appreciable length of time and therefore were in
the position to present the situation on the ground. The remaining 18% had worked with the
bank for barely a year and r esponse from management was t hat majority of them were
contract workers and staff who have just been employed. This implied that they had not had
any experience with respect to management motivational policies.

4.3.4 Educational Background of Respondent s
Most respondents , the research revealed that , had attained one form of education or the other.
Statistics confirm ed that 54% of the respondents have had university education, followed
closely on its heels by 33% constituting those with professional certi ficates. The researcher‟s

observation brought to the fore that these two categories of respondents were in the
managerial and supervisory level of the organisation‟s hierarchy seeing to the day to day
running of the bank and its development.
Respondents with polytechnic education formed 13% of the total respondents and they were
mostly tellers . This implied to work in the financial sector one requires a great deal of
knowledge and skills to be able to fit in there, and make the needed impact. Table 4.3 gives a
clear picture of the educational background of respondents.
Table 4.3: Educational Background
Educational Level Frequency Percentage
Secondary – –
University 52 54
Polytechnic 13 13
Professional 32 33
Total 97 100
Source: Field Survey, July 2012

4.4 FORMS OF MOTIVATION
Section B, had respondents being quizzed on what they perceive d as forms of motivation.
Using a Likert scale they were asked to tick whether they strongly agree, agree, uncertain,
strongly disagree and disagree to issues raised.

Source: Field Survey, July 2012

The views of respondents on the issue trust, respect and high expectation as a form of
motivation saw 71% of the total respondents strongly agreeing to it , asserting that they desire
self respect and self esteem and esteem for others. This is what Maslow put as Ego and
Esteem needs. When externally focused t hese may include the desire for reputation, prestige,
status, fame, glory, dominance, recognition, attention, importance, and appreciation. This
implies respondents apart from the enticing and fat salaries and the numerous incentive
packages at their dispo sal offered by management is not motivated to increase performance
rather having management and colleagues repose some level of trust in them and according
them the due respect alone is enough for them to maximise their performance . The remaining
29% threw their weight behind them. Figure 4.1 has the views graphically depicted.

STRONGLY
AGREE
71%AGREE
29%Fig 4.1: Trust, Respect And High Expectation

Source: Field Survey, July 2012

The analysis of data collected revealed that respondents see staff development as the next
important form of motivation. A total of 56% of them strongly shared this opinion the reason
being that every worker craves for this need thus, being able to self -realise objectives in life
and continuous self – development to facilitate the process of becoming that entire person is
capable of becoming. This in Maslow‟s opinion is what he termed self actualisation . In
support of this argument had 20% of the respondents agreeing to it and the remaining 24%
very uncertain of the situation when quizzed.
The views shared by the respondents implied that the employees of Guaranty Trust B ank are
not only enthused and enticed by juicy incentives and fat salaries given by management with
the objective of coercing them to increase performance but their personal development for
the future with respect to furthering their education and achieving their aim in life has now
STRONGLY
AGREE
56%AGREE
20%UNCERTAIN
24%Fig 4.2 Staff Development

become one of the critical factors for them to perform at their maximum best. The picture
painted i n figure 4.2 gives a graphical description.

Majority of 79% of total respondents were of the opinion that bonuses motivate them to
perform at work. In the survey they understood bonuses to mean extra payment to them over
and above their usual salary given as incentive. Their reason was very simple it‟s due them as
they have worked for it. The most of it all is that such monies come at times when things are
hard so to speak, givin g them a relief. Twenty -one per cent threw their weight behind them
by agreeing to it.

Source: Field Survey, July 2012

STRONGLY
AGREE
79%AGREE
21%Fig 4.3 BONUSES

As depicted in figure 4.4, it is evident , that respondents believe having a good and decent
accommodation motivates them to perform a t their optimum best. In response to the
question , an overwhelming majority of the respondents who participated in the survey,
representing 79% made their intention known by strongly agreeing to the scenario. The
reason was that having a place to house you , gives the peace of mind to perform , than to
wake up every morning very disorganis ed and thinking of where to sleep the next day. The
remaining 21% were in support of that. It was not surprising when Maslow in his hierarchy
of needs said, shelter and secu rity is a vital motivator to human behaviour. This implies
notwithstanding how hard the situation may be, management should be able provide the
workers with decent shelter to put them in the right frame of mind enhance their performance
at work.

Source: Field Survey, July 2012

STRONGLY
AGREE
79%AGREE
21%Figure 4.4: Good Accomodation

Majority of 66% of the total respondents surveyed , were of the view that provision of car
loans to employees of the bank will serve as a motivator to boost the ir performance . They
cited the following reasons that most of them stay far away from town , and getting transport
to work becomes very hectic. Others looking at it from another angle believed facilitating the
means to work will give a sort of prestige and fame (esteem needs). The remaining 34% only
added their voice to it by agreeing. This implies that management , if cannot give car loans or
create that facility for the employees can provide transportation in any other form for the
workers. Figure 4.5 has the graphical picture .

Source: Field Survey, July 2012

STRONGLY
AGREE
66%AGREE
34%Fig 4.5: Car Loans

4.5 INDIVIDUAL NEEDS
Section D of the ques tionnaire touched on individual needs of respondents. They were given
five items comprising employee needs as established by Maslow‟s hierarchy of need s and
asked to rank them in order of importance.
Table 4.4: Ranking Of Individual Needs
Item Frequency Percentage
Self-Actualisation 35 37
Self-Esteem Needs 20 21
Safety Needs 17 18
Social Needs 15 15
Physiological Needs 10 10
Total 97 100
Source: Field Survey, July 2012

Most respondents when pushed to the wall on the issue of how they will rank their personal
needs in the light of Maslow‟s hierarchy of needs, shared a different opinion and agreed more
with Alderfer‟s ERG theory which sough t to refute the claim that human needs are satisfied
from lower rank needs to higher order of needs rather human needs cannot assume a rigid
hierarchy.
The argument was that the needs of Guaranty Trust Bank workers cannot be automatically
fixed as the survey revealed that there were gaps between the staffs needs and at a point in

time some were overlapping. Individual workers at the bank also took exception to the fact
that they do not graduate or progress along a particular line rather unconsciously may b e
obsessed by a higher need, that a lower need may go unnoticed. Finally, a tension or
behaviour may not be ignited by a single need but several of them. This implies that
management should not perceive that all employees notwithstanding the fact that, th ey
belong to the same organisation and work towards the same goal, will have the same needs at
the same time, rather understand employees from their individual perspectives and deal with
them accordingly.
Table 4.4 is a practical confirmation, as most resp ondents placed self actualisation needs first
(5), self esteem needs second (4), safety needs third (2), social needs fourth (3) and
physiological needs fifth (1).

4.6 Respondents’ Perception on Motivational Factors that Increase Performance
In section C Respondents were asked as to what their percept ions were about each of the
seven scenarios in relation to the motivational factors that en hance employee performance.
The object of this particular section found out if indeed workers when taken care of by
management especially through motivation will perform at their optimum best, to answer the
question is there a relationship between motivation and employee performance?

Source: Field Survey, July 2012

Respondents when quizzed on whether recognition and appreciation for a good work by
management enhances performance , majorit y thus 51% agreed that after putting in much
effort into their work, they expect that at least management if anything at all should say
something or give a pat on the shoulder to s how their satisfaction, as these little things go a
long way to spur them on to do more. The perception was shared by 28% who in solidarity
strongly agreed to it. On the other hand a minority of 21% were highly uncertain of the
assertion made by their coll eagues.
Showing appreciation and recognition for good work done breeds healthy competition among
employees and indirectly raises‟ the bar of excellence. It is natural in an organisational
setting for co workers see a colleague being applauded for the good job done; they will also
work hard to get the same reward. It should not be seen as a negative challenge rather a
positive one that will enhance performance .
STRONGLY
AGREE, 28%
AGREE, 51%UNCERTAIN,
21%Fig 4.6 Enhanced Performance Through
Recognition and Appreciation

Literature reviewed attested to this finding. Worman (2008) , in his article motivating
employees w ithout raising the ir pay confirmed that , employees are not motivated by mo ney
alone but when they accomplish something they believe indeed they have accomplished
something and recognition from management is appreciation for that achievement. He further
added that management hardly gives recognition because they do not get enough.

In a typical fashion participants reveale d that they were uncertain as to whether salaries given
them motivates them to perform, surprisingly 42% of the total respondents shared this
perception. Close to this category were 38% of the total respondents who felt other wise and
agreed that their sal ary commensurate with their performance. A minority of 18% strongly
agreed to this scenario.
It is the universal perception that every employee works for money in return but they also
work because they have personal goals to achieve. There had been numerou s studies sharing
a contradictory opinion to this particular finding. Maslow (1943) claimed that employees
work to survive and live through financial compensation, to make new friends, to have job
security, for a sense of achievement and to feel important in society, to have a sense of
identity, and most especially to have job satisfaction. Taylor (1911) siding with Maslow
reiterated that the most imp ortant motivator of workers is salaries and wages when he
claimed that non monetary rewards breeds low produ ctivity. He continued by saying that if
employees receive the same wage irrespective of their individual contribution to the goal,
they will work less and that employees think working at a higher rate means fewer
employees may be needed which discourages e mployees to work more.

This result has proven that the staff of Guaranty T rust bank does not see fat salaries as
motivating them to maximise their performance but rather agreed with Worman (2008) it is a
costly mistake to get lost in the false theory that more money equals happy employees. He
further asserted that cash will always be a major factor in motivating people and a solid
compensation plan is critical to attracting and keeping employees. But the key additional
cash is not always the only answer and in many cases not even the best answer.

Source: Field Survey, July 2012
In this particular scenario it was too close to call, as 44% of total respondents‟ surveyed,
believ ed that an opportunity for them to advance in their career and educational quest highly
motivates them to perform in their field of endeavour, in solidarity 43% confirmed the
perception by agreeing to the scenario, whilst 13% were not so sure it could. Th e statistics
provided is displayed on fig 4.3, shows that respondents are happy about this policy of
management giving them the opportunity to move up the career ladder , and hoped that
STRONGLY
AGREE
18%
AGREE
38%UNCERTAIN
44%Fig 4.7 Salary Enhances Performance

management will honour their promise when the time is due. Employees as key as they are to
bank needs to know what is potentially ahead of them, the opportunities there are for growth
and development.
This finding career development enhances performance in literature was emphasized by
Worman (2008) human resources are key to the success of the organisation and need to
potentially know what is ahead of them, the avenues for career advancement and growth. He
was of the opinion that the issue is sometimes a forgotten ingredient as to the importa nce it
plays in the overall motivation of employees. Maslow (1970) termed this as esteem and self
actualisation and buttressed by Alderfer (1972) when he sought to replace it with growth thus
the intrinsic personal desire for development. The resea rcher will like to urge management to
set career paths within their organisation thus promote from within. Specific circumstances
may require that management look for talent outside, it is always appropriate to first
consider internal personnel, for such action s sends positive signals to everyone that there are
indeed further career opportunities within.

Source: Field Survey, July 2012
STRONGLY
AGREE
44%AGREE
43%UNCERTAIN
13%Fig 4.8: Career Advancement Enhances
Performance

Generally, about 61% of the total respondents survey ed on the sce nario promotion and
growth as a motivational factor enhances employee performance , had a considerable number
of them representing 69% strongly agreed with the researcher indicating that money is not
the ultimate but promotion is reward for effort. This shows there is a direct r elationship
between reward and effort. A minority of 31% in buttressing the point agreed with their
colleagues. A graphical representation of the issue is depicted on fig. 4.4 for clearer
understanding.

Source: Field Survey, July 2012

Job Security
Most employees in vario us organisations believe that one of the most important things to
look out for in their present jobs is security and therefore attach utmost importance to it.
STRONGLY
AGREE
69%AGREE
31%Fg 4.9: Promotion And Growth Enhances
Performance

Respondents, concerning the issue of job security as motivational factor not enhancing
performanc e, had 69% of them strongly disagreeing to thi s assertion. Their reason being that,
in the work place , they need stability, dependency, protection, freedom from fear and
anxiety , to be able to give off their optimum best to enhance performance. The remaining
31% of the respondents in support of what their colleagues said also disagreed with the
assertion .
The finding corroborates with Maslow‟s (1970) safety needs in the hierarchy. This he said in
the work setting translates into a need for at lea st a minimal degree of employment security;
and the assurance that we cannot be dismissed or sacked for irrelevant reasons and that
appropriate levels of effort and productivity will ensure continued employment.

Source: Field Survey, July 2012

STRONGLY
AGREE
69%AGREE
31%Fig 4.10: Job Security Does not Enhance Employee
Performance

Interpersonal Relationship
Data co llected from the field on the scenario interpersonal relationship as a motivational
factor does not improve employee performance; an overwhelming majority of the total
respondents representing 70% strongly disagreed to the assertion stating that human beings
are gregarious creatures, and as such have a need to belong. In the workplace the only way
they can achieve that is to be able to interact very well with coworkers and create that rapport
to be able to work collaborativ ely with these colleagues.
Thirty per cent showing that they were in support of what their colleagues said also disagreed
to the assertion. Figure 4.6 shows the trend to the scenario.

Source: Field Survey, July 2012

AGREE
70%STRONGLY
AGREE
30%Fig 4.11: Interpersonal Relationship Enhances
Performance

This revelation of the study buttresses Alderfer‟s (1972) ERG theory and specifically the
relatedness needs which he referred to as the quest for people to maintain interpersonal
relationship with other people, family members, colleagues, bosses, and subordinates. At
Guaranty Trust B ank employees satisfy this need by sharing thoughts and feeling with
management and co workers. The same finding also matches with Maslow‟s social/love need
and the external component of his esteem needs.

Recent studies have shown that, employ ees have now become more particular about the
environment in which they work. An indication of this reflected in the survey conducted ,
when 80% of the total respondents who participated in the research strongly agreed to it and
made it emphatically clear t hat, working in an office where employees do not have enough
space or cramped in a “sardine can‟, no good furniture making sitting for a long time
uncomfortable, inadequate space, inconsistent office supplies and poor room temperature
inhibits maximum perf ormance.
The remaining 20% did not object to it rather, threw their weight behind them indicating they
were also in support of it. The trend figure 4.12 exhibits .
This finding from the study confirms Worman‟s (2008) revelation of a recent industry
research that showed how inaccurate results can be. The study sought to find out from
employers what they thought motivated their people and then employees were asked to rank
what really did motivate them. I t came to the fore that employers felt “working condition”
was a nine (next to last) in terms of importance. Employees differed ranking it number two

an indication that good working environment were of utmost importance to the way
employees feel about where they w ork.

Source: Field Survey, July 2012

Out Side Seminars
Outside seminars is sponsoring an employee to attend a seminar in relation to the job. They
are a stimulating break. Because outside seminars are not alway s cost efficient for most
organisations , they consider on -site seminars or workshops for their staff, and rather use
outside seminars as a contest prize for one or t wo people. They set up a structured plan for
those seminar attendees to briefly recreate the seminar to the rest of the employees when they
return. Now everyone gets educated for the price of one. When quizzed as to how this as a
motivational factor will help employees maximise performance, 51% of the total respondents
AGREE
80%STRONGLY
AGREE
20%Fig 4.12: Good Work Environment Enhances
Performance

strongly agreed as everybody will crave to be the selected one whic h, also demands that you
work hard to catch the eyes of judges who happen to be colleagues. Twenty – eight per cent
were in support of that, with 21% being uncertain about the whole scenario. The perception
made clear on figure 4.13.
This implied that workers at Guaranty Trust B ank believes that it is good to have in house
training and seminars but outside seminars serves a source of motivation for their
performance. It gives them the external exposure and a common platform to interact with
colleagues with the same level of intellect and share objective s in life.
This revelation can be linked to that of Worman‟s (2008) observation in his article twenty
ways to motivate employees without raising their pay, that outside seminars are mind
refreshing brea k necessary for employees , the challenge is that most organisation perceive it
not to be cost efficient and mostly see it as a contest prize to reward hardwork .

Source: Field Survey, July 2012

ST AGREE,
28%
Strongly
AGREE, 51%UNCERTAIN,
21%Fig 4.13 Outside Seminars Enhances
Performance

Additional Responsibility
Data collected during the field survey interpreted and analysed discovered shockingly a
majority 67 respondents representing 80% of the total population were of the opinion that
given additional responsibility to handle aside their usual commitments and jo b description
will boost their morale to give off their best which will inevitably lead to increased
performance. The reason for such an opinion was that it informs management how
committed and dedicated they are to their job and has the potential to take responsibility for
their actions all in the interest of ensuring the growth of the business. The 20% left only
joined the chorus by strongly agreeing to it. Figure 4.14 captured the trend for simple
understanding

Source: Field Survey, July 2012

AGREE
80%STRONGLY
AGREE
20%Fig 4.14: Additional Responsibility

The results obtained from the analysis shows that the staff of Guaranty Trust Bank believes
in being responsible and circumspect in their field of endeavour to help the company achieve
the feat or height it wants to attain. Support from literature reviewed emphasis es that in every
organisation there are responsible and exceptional employees who are begging and craving
for and can competently handle additional responsibility (Worman, 2008). This shows a very
impressive and positive attitude. The job of manag ement in such circumstances is to
wittingly identify who they are and if possible match responsibilities to their strengths and
desires.
4.7 RELEVANCE OF MOTIVATION TO EMPLOYEE PERFORMANCE
Section E of the questionnaire sought the general view of responde nts on the importance of
motivating employees.
Table 4.5: Respondents Perception on Importance of Motivation
NUMBER ITEM
1 High Efficiency
2 Reduce Absenteeism
3 Reduce Employee Turnover
4 Improved Corporate Image
5 Good Relations
6 Morale Improvement
7 Facilitate Initiative a nd Innovation
8 Reduced Wastages a nd Breakages
Source: Field Survey, July 2012

Table 4.5 shows respondents perception on what constitute importance of motivation. T he
scenarios they enumerated captured.

CHAPTER FIVE
SUMMARY, CONCLUSION S AND RECOMMENDATIONS

5.0 Introduction
This section of the research report summarized the entire report bringing out the finding for
each of the research questions in the same sequence as listed in chapter one. The next section
dealt with conclusions drawn and recommendations for the study.
5.1 Summary of Key Findings
The study , effect of motivation on employee performance was undertaken by the researcher,
with sole aim of establishing a relationship between motivation and employee performance at
the workplace . The study was conducted with the workers of Guaranty Trust B ank
constituting the population and a sample size of 150 drawn from it.
The mixed method ology approach thus both quantitative and quantitative designs were
employed in conducting the study. The two were considered because the merits of one
compensate for the weaknesses of the other. Both types are valid and useful but not mutually
exclusive. The bottom line is both methods ensured a greater understanding of a population.
The data collection technique was the case study method alongside the questionnaire and
interview research instruments were used in collecting data.
Most of the literature reviewed by the study on motivation theory and practice concentrate d
on various theories regarding human nature in general and motivation in particular, failing to
give anything concrete on the practical aspects of it in the workplace.

Respondents who participated in the survey were asked varied questions in relation to
employee motivation ; forms of motivation , individual needs of employees, employees
perception about motivational factors that enhances performance and the relevance of
employee motivation to an organisation.
Data collected and analysed indicated that, employees when motivated very well are able
give thei r optimum best.
The results o f the study and its interpretation revealed that;
The participants in the survey had as many (42%) between the age range of 31 -40, (37%)
between the age range of 21 -30 and (19%) in the 51 -60 this implied that to work at the bank
one need to be relatively younger and no wonder they could sit behind staring at it for close
more than 8 hours.
Most of the respondents about (79%) had worked with the bank for a period of 1 -5years,
which implied the research achieved its aim, as workers within that range were in the best
position to articulate their views better concerning the issue of motivation at the bank. The
remaining (18%) had barely spent a year.
Trust, respect and high expec tation was seen by most of the workers thus (71%) as a form of
motivation indicating that as employees they desire self respect from management and
colleagues and self esteem and esteem for others whiles (29%) supported it .
Staff development was next on th e scale as a total of (56%) opined that as employees craves
for this need, thus being able to self realise objectives in life and continuous self development

facilitates the process becoming the entire they hope to become. The remaining (20%) and
(24%) agr eed and were very uncertain respectively .
Employees disclosed that bonuses motivated them to increase their performance, declaring
that the bonuses come at a time when things are hard so to speak, giving them a relief.
Good accommodation was seen by (79%) of the respondents as very vital for optimum
performance indicating that having a place to lay the head and house one‟s family gives the
peace of mind to perform than to wake up every morning disorganised and not knowing
where to sleep next.
Employees vie w on ranking of individual need disclosed that human need are not rigid,
refuting Maslow‟s hierarchy of needs and agreed with Alderfer‟s ERG theory indicating that
there were gaps between the staffs needs and at a point in time some were overlapping.
Indiv idual workers at the bank also took exception to the fact that they do not graduate or
progress along a particular line rather unco nsciously may be obsessed by a higher need, that a
lower need may go unnoticed.
Employees perform at the optimum level when t hey are recognised and appreciated for a
good job done by management charging that a pat on the shoulder means more than money to
them as they feel accepted.
Fat salaries according to the employees does not motivate them to increase performance in
that, they were not receiving as expected but were quick to add, money will always be a
major motivator but once again cannot equal happiness.

Career advancement enhances performance as (44%) of the total respondents believed that an
opportunity to advance in the ir work and educational quest motivates them to maximise
performance in their field of endeavour.
Promotion and growth as motivational factor enhances performance as (69%) of the
employees shared this opinion emphasising that money is not the ultimate but promotion id
reward for improved effort, indicating a direct relationship between reward and effort.
Job security as a motivational factor enhances, with (69%) strongly agreeing to the assertion
implying that stability, dependency, protection, freedom from fear and anxiety at the work
place creates the platform to give off the optimum best.
Interpersonal relationship also improves performance indicating that , as human beings are
gregarious in nature, and as such have the need to belong . This implied at the work place to
be able to interact with co workers, sharing problems with management create the rapport to
be able collaborate with colleagues.
Attending outside seminars or workshops was very key to employees as majority of them
indicated it affords the platform to interact with colleagues from other banks, pick new ideas
and initiatives from them and in turn share it with co workers for the common growth of the
bank.
Arguably the revelation of the study, it was overwhelmingly seen silent cont ributing fac tor to
increased performance in the sense that (80%) of the total population rooted for it contending
aside their commitments and job description begs and craves for that they can competently
handle any additional responsibility handed them by management

All these findings put together and repo rting the view of employees of Guaranty T rust bank
shows that indeed there is a relationship between motivation and performance at the
workplace as all the variables studied pointed to the fact the way employees feel about
themselves, their work and treated by management goes a long way to determine their output.

5.2 Conclusion s
Worman (2008), writing on 20 ways to motivate your employees without raising their pay
asserted that “it is costly mistake to get lost in the false theory that money equals happy
employees”. Believe it or leave it cash will always be a major factor in motivating people and
solid compensation plan is critical to attracting and keeping employees. But the issue is that
additional cash is not al ways the answer to the problem , and in many cases not even the best
option therefore the study concludes that;
Most of the staff of Guaranty Trust bank has served the bank for a substantial number of
years giving them rich experience and the ability to del iberate on motivational issues
concerning their work.
The level of trust, respect and high expectation from management and colleagues is not
encouraging.
Staff development policies and strategies of the bank requires review to suit individual
worker needs.

Bonuses as motivational factor for employees was in the right direction except it did not
commensurate with work done and needs an upward adjustment.
Good and decent accommodation for staff was encouraging as, staff believed it was the best
management cou ld under the circumstance.
Car loan policies and progammes is the best as in a space of every two years there is a review
and upward adjustment to cater for the current economic trend.
The individual of the staff of Guaranty Trust Bank has undergone tremendous changes since
the institution was established as their lot has improved in that sector.
The seemingly loss of one of the most cherished and envied hallmarks of employees
recognition and appreciation appeared to have affected employee performance as it was low
and in some cases nonexistent.
Salaries paid staff of Guaranty Trust B ank was highly inadequate considering the current
economic conditions, having a negative impact on their total performance.
Career advancement and promotion at Guaranty Trust B ank was very positive and
encouraging as over the years consistent and hardworking employees have risen through the
ranks to their current positions.
Job secur ity issues well catered for by management as the enabling environment has been
created and employees who exhibit gross misconduct are fired based on that.
Interpersonal relationship among management and staff was very excellent.
Use of outside seminars as rewarding increased performance was nonexistent .

Additional responsibility to rew ard high performance is the nurturing stage and had not been
that prominent.
5.3 Recommendations
The stud y disclosed that, motivation at Guaranty Trust B ank has undergone serious and
improved changes over the years. Issues of recognition, trust, respect, j ob security, salaries
and bonuses which affect the morale of workers to maximise performance seem to be
prevalent everywhere in Ghana. Such uncomfortable condition does not encourage workers
to give off their best hence low turnover.
 The study will entreat management to see the ur gent need to take appropriate
measures if employees of the bank are to achieve the set goals. Concrete, prudent and
urgent measures be taken by management of Guaranty Trust bank to restore back
hope and confidence in the sys tem to boost the morale of staff. The commitment and
dedication level of staff brings to the fore the need for the addition of employee
incentive packages and other motivational strategies. In the light of the revelations of
the research, measures are rec ommended to management to consider current and
future actions to be taken in relation to motivation issues;
 The researcher will entreat management to sponsor employees who have served the
bank for so many years to undertake a short course in employee moti vation
management to come improve the situation.
 Trust and respect should be accorded staff to create a harmonious relationship
amongst them to foster collaboration.

 Staff development to enhance performance and promote self fulfilment and
actualisation should be encouraged as a matter of deliberate policy.
 Bonuses due workers should be paid on time to bring a relief to them in the face of
untold hardships.
 Management should do well to adopt on the spot praise as a medium for r ecognition
and appreciation for hard work for promptness equal effectiveness.
 Management should set career advancement paths within the organisation to promote
from within rather look out for talent outside.
 Job security should be of top priority to management to ensure the retention of their
hardworking and experience employees.
 There should be good interpersonal relationship between management and staff to
facilitate communication and the lending of assistance to colleagues who may need
on.
 Management should monitor closely the atti tude, lifestyle and leadership qualities of
employees in the organisation who for and can handle additional responsibilities be
encouraged to promote increased performance and efficiency. In doing so should
identify who they are and match responsibilities to their strengths and desires.
 The management should do everyth ing within their capacity to create a better good
working environment and conducive atmosphere that can pro mote efficiency and
enhance performance.

The researcher hopes fervently that if management makes frantic efforts and commitment to
implement the aforementioned considerations, the bank will in no time become one of the top

leading private banks in Ghana. This will go a long way to enhance the corporate image and
the esteem of workers .

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APPENDIX A
QUESTIONNAIRE

KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY
COMMONWEALTH EXECUTIVE MASTER OF BUSINESS ADMINISTRATION,
CEMBA

I am Millicent Nduro, a Masters student under the supervision of Mr. Samuel Kwesi
Enninful , at the Distance Learning School of KNUST, School of Business, Ghana. I would
like to invite you to be part of a research study. The study entitled: Effect of Motivation on
the Performance of Workers of Guaranty Trust Bank . The questionnaire has been
designed to obtain data on the sai d topic. Any information given will be trea ted with utmost
confidentiality.

Section A: Demography of Respondents
1. Sex of respondent (a) Male [ ] (b) Female [ ]
2. Age of respondent (a) 20 -30 [ ] (b) 30 -40 [ ] (c) 40 -50 [ ] (d) 50 and [ ]
3. Number of years served (a) below 1 year [ ] (b) 1 -5 years [ ] (c) 6 years and above [ ]
4. Educational level (a) Secondary [ ] (b) Polytechnic [ ] (c) Universit y [ ]
(d) Professional [ ]

Section B: Forms of Motivation
Please tick appropriately: (a) SA-Strongly Ag ree, (b ) A- Agree (c) U – Uncertain, (d) SD –
Strongly Disagree ( d) D-Disagree
Statements SA A U SD D
7. Trust, Respect And High Expectation
8. Staff Development
9. Bonuses
10.Good and Decent accommodation
11. Car and Rent loans

Section C: Individual Needs
13. The following five items are employee needs at the work place propounded by Abraham
Maslow. You are advised to rank according to your needs. A ranking of 1 will represent the
first level of need, a ranking of 2 represent the second level of need, a ran king of 3
represented the third level of need, a ranking of 4 represent the fourth level of need and a
ranking of 5 represent the fifth level of need.
A. Physiological Needs
B. Safety Needs
C. Social Needs
D. Self Esteem Needs
E. Self Actualisation Need

Section D : Motivational Factors that Increase Performance
Table 2: Has a set of motivational factors that contribute to employee performance. Tick the
appropriate column .
Statements SA A U SD D
14. Recognition and Appreciation
15. Fat Salaries
16.Career Advancement
17. Good Working Environment
18. Promotion a nd Growth
19. Job Security
20.Interpersonal Relationship
21. Good Working Environment
22. Outside Seminars
23. Additional R esponsibility

Section E: Relevance of Employee Motivation
Please you are required to enumerate as much as possible why you thing motivating
employees in general is relevant to an organisation
Number Item
24
25
26
27
28
29
30
31