THE ROLE OF FINANCIAL DECISION-MAKING IN MOTIVATING EMPLOYEES
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- NGN 3000
Abstract: THE ROLE OF FINANCIAL DECISION-MAKING IN MOTIVATING EMPLOYEES
Objective: This study aims to (1) investigate the impact of financial decision-making on employee motivation, (2) identify key factors influencing financial decisions, and (3) assess the long-term effects of financial strategies on organizational performance.
Research Design: A survey design was chosen to gather comprehensive data from employees about their perceptions of financial decision-making and its impact on motivation.
Sample Size: Based on Taro Yamane's formula, a sample size of 360 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 healthcare sector, where financial decisions impact patient care and operational efficiency.
Location: Abuja, a major healthcare hub with a diverse workforce.
Reliability Coefficient Score: The survey instrument achieved a Cronbach's alpha score of 0.88, indicating high reliability.
Findings: Financial decision-making processes that involve transparency, employee involvement, and ethical considerations significantly enhance employee motivation. Employees who perceive financial decisions as fair and aligned with organizational goals demonstrate higher levels of motivation and commitment.
Recommendation: Healthcare organizations should prioritize transparent and inclusive financial decision-making processes that consider ethical standards, employee input, and organizational objectives to enhance motivation and drive sustainable performance.
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