THE ROLE OF FEEDBACK IN MOTIVATING EMPLOYEES
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- NGN 5000
Abstract: THE ROLE OF FEEDBACK IN MOTIVATING EMPLOYEES
Objective: This study aims to (1) examine the impact of feedback on employee motivation, (2) identify key elements of effective feedback mechanisms, and (3) assess the role of feedback in enhancing employee performance and job satisfaction.
Research Design: A survey design was chosen to gather comprehensive data from employees about their experiences with feedback mechanisms.
Sample Size: Based on Taro Yamane's formula, a sample size of 350 employees was selected, ensuring robust statistical analysis with a 95% confidence level and a 5% margin of error.
Case Study: The research focused on the financial services sector, where feedback is essential for meeting client expectations and regulatory compliance.
Location: Lagos, a major financial center with a diverse financial services industry.
Reliability Coefficient Score: The survey instrument achieved a Cronbach's alpha score of 0.87, indicating high reliability.
Findings: Timely and constructive feedback significantly enhances employee motivation by providing clarity, guidance, and opportunities for improvement. Employees who received regular feedback demonstrated higher levels of engagement and performance.
Recommendation: Financial institutions should establish structured feedback mechanisms that include regular performance reviews, constructive criticism, and recognition of achievements to enhance employee motivation and organizational effectiveness.
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