EFFECT OF MOTIVATION ON THE PRODUCTIVITY OF EMPLOYEES IN THE NIGERIAN INSURANCE INDUSTRY

EFFECT OF MOTIVATION ON THE PRODUCTIVITY OF EMPLOYEES IN THE NIGERIAN INSURANCE INDUSTRY

ABSTRACT

This study was carried out on the effect of motivation on the productivity of employees of insurance companies using AIICO Insurance Nig Plc. as case study. To achieve this 6 research objectives were formulated.  The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of all the staff  of AIICO Insurance Lagos State. In determining the sample size, the researcher conveniently selected 285 respondents while 250 respondents were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and percentage, while the hypotheses were tested using Pearson Correlation Statistical Tool SPSS v23. The result of the findings reveals that motivation has effect on the productivity of employees of insurance companies; reward system has effect on employee performance; job incentives correlates with  commitment of workers to the organisations as it; increases employees productivity, creates a culture of high performance by employees, motivates employees to go extra miles, encourages team work/collaboration among staff and  increases employees turnover; motivation has effect on organizational profitability; the participation of employees in decision making gives the employees the privilege to voice their opinion, bounds the relationship among employees and employers, enables the knowledge of the employees to count, resolves conflicts and strike action by employees and  increases employees turnover; there is a significant relationship between motivation and productivity of employees in insurance companies, there is a significant relationship between reward system and employee  performance in AIICO Insurance Nig Plc. and there is a significant relationship between job incentives and  commitment in AIICO Insurance Nig. PLc. The study recommends that management should be concerned with the welfare of the workers and their families. This will give the workers a sense of belonging and being appreciated will make them to be focused and completely committed to their work, 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 management should do well to adopt on the spot praise as a medium for recognition 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.

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