PROJECT TOPIC- IMPACT OF MONETARY INCENTIVES ON WORKERS PRODUCTIVITY IN CRUTECH

PROJECT TOPIC- IMPACT OF MONETARY INCENTIVES ON WORKERS PRODUCTIVITY IN CRUTECH

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The basic and primary task of any organization (profit and or non- profit making) is the achievement of its overall objectives one prime objective of every business organization is economic production. This includes high productivity and adequate profit. The achievement of this objective depends to a large extent on the efforts and contribution of the management and subordinate in institution. Many managerial polices and decision are aimed at this end. This is especially found in the personal policies, since they are the subordinates to accomplish the objective, purpose and missions of the institution.

In many cases, these plans and policies involve implicit and explicit assumptions about the intrinsic (psychological principle at work in institution that could make workers to increases the productivity. In fact, an intrinsically productivity individual, according to Ajila (1997) will be committed to his work to the extent to which the job inherently contains tasks that are rewarding to him or her. And an extrinsically productivity person will be committed to the extent that can gain or receive external rewards for him or her job. He further suggested that for an individual in a work suitable there must be a need, which the individual would have to perceive a possibility of satisfying through some reward.

  If the reward is intrinsic to the job, such desire or productivity is intrinsic. But, if the reward is described as external to the job, the productivity is described as extrinsic. According to Nwachukwu (1990) “The essence of financial incentive is to relate productivity to rewards. Thus, employees who excel get more money this recognizes individual difference in ability and contribution. It helps the management to motivate employees. Anything done in the institutions that restore equity tend to productivity as obvious in equity leads to frustration and loss of productivity.

Folayan (2000;270) supported the assumption that monetary rewards is a major factor in attracting individual to an institution, persuading them to contribute positively towards the achievement of  corporate goals. Therefore, the need in the light of the foregoing for building productive factors such as using monetary incentive to make employee achieve its objective among which is higher productivity.

PROJECT TOPIC- IMPACT OF MONETARY INCENTIVES ON WORKERS PRODUCTIVITY IN CRUTECH

1.2 STATEMENT OF THE PROBLEM

In any institutions money is a very sensitive issue, not only to employers but also to management wags and salaries play a significant role in the life of employee both in the private and public sectors organization all over the wards paid reflect important in the institution that is why this study will look into productivity practice with particular emphasis on monetary incentive and its impact on worker productivity in CRUTECH, Calabar. Management of the institution from time immemorial has been striving to influence the behaviours of employee positively towards effective and efficient productivity without applying monetary incentive as a technique to achieve their desire.

Thus, productivity factors in an institution will be their ignorance about the importance of monetary incentive to make them appreciate and use the concept to equip the manager. Poor employees and employers relationship tends to affect on workers productivity while monetary incentive is an aspect of management practice that could contribute to resisting the poor relationship between and workers and employers. This is points that, incentive is important in management technique to provide continual body of knowledge for successive generation of people.

1.3 OBJECTIVE OF THE STUDY

         The purpose of the study can be stated as follows:

  • To examine the impact of monetary incentive as a productivity on employee productivity in CRUTECH Calabar.
  • To examine how various productive are applied by management of CRUTECH Calabar.
  • To find out the rating of monetary incentive among other productivity in CRUTECH Calabar.
  • To examine the problem faced by management of CRUTECH in implementing these productivity.
  • To assess the performance of workers with the introduction of monetary incentives.
  • To recommend appropriate monetary incentive as a key productive on workers.
  • To provide literature and studies on monetary incentive and work productivity and stimulate further research on them in either CRUTECH or any other institutions.

1.4 RESEARCH QUESTIONS

For the purpose of objective relevant data to build up this research work, the following research questions will be asked and answers sought.

  • What is the impact of monetary incentive on workers productivity in CRUTECH or Calabar.
  • How is the productivity approaches viewed by employee?
  • What are the productivity used by management of CURTECH to induce workers to produce more?
  • What other way do employee fed they can be motivated?
  • Do monetary incentive activities increase the performance of employee in CRUTECH or Calabar?

1.5 RESEARCH HYPOTHESIS

For the purpose of this research we shall examine the hypothesis in both will and alterative.

Ho: monetary incentives cannot increase the job performance on employee in CRUTECH or Calabar.

H1: monetary incentive can increase the job performance of employee in CRUTECH or Calabar.

Ho:  productivity cannot solve the conflict between the employee and employers

Hi: productivity can solve the conflict between the employee and employers.

1.6 SCOPE AND LIMITATION OF STUDY

This study is done basically on Nigeria environment using the employees of cross River University of Technology (CRUTECH) as a case study. The factors employed are tested under cross River State s situation through the institution employee are Nigerian mostly, the rest of this study cannot be absolutely said to represent this disposition of all CROSS RIVER STATE Workers.  Since the institution employee do not constitute a large enough representative percentage of CRUCTECH employee.  This work is limited and confined to the impact of monetary incentive on worker productivity in business education with special focus on CRUTECH.

       In a country such as ours where bureaucracy and redtapism act at constraints in the flow of information we are real bound to experience some problem. The present poor state of the economy with its galloping inflation affects the required finances for this research service posed on serious threats to the production of this work. The in cooperative attitude of some respondents will be limited factors to this work.  The high cost of transportation fares is also problems to this work.

SIGNIFICANCE OF THE STUDY

This study will be useful in the following ways:

(I)  The study will add to present knowledge on the potency of monetary incentive as productive in CRURECH Calabar.

(ii)  This will be useful as a reference point to student who will carry out similar studies.
(iii) The researcher hopes that this study will enrich his knowledge about employee productivity particular in institution.

(iv) The study will help management of CRUTECH Calabar as a guide in choosing what productive to use on workers to enhance performance.

1.7 HISTORICAL BACKGROUND OF CRUTECH

Cross River Univeristy of Technology (CRUTECH), the need for a merger of tertiary institution in the state was highlighted during the Education Summit organized by the Government of Cross River State in February 2000. Subsequently, His Excelllency, The Governor of Cross River State, Mr. Donald Duke, in April 2000 inaugurated a committee to plan for the merger of the said institutions. The committee submitted a report to government in April 2000 following which another committee was inaugurated in September 2001 to plan for the implementation of the merger. This communities submitted a report in April 1 2002 and therefore, through the executive Bill No. 9of 2002.

Later amended as Bill No. 6 of 2004 the Cross River University of Technology (CRUTECH). The University in principle took off on September 1, 2002 as an amalgam of the former state owned tertiary institutions the polytechnic, calabar; college of education, Awi – Akamkpa, the Ibrahim Babangida college of Agriculture, Ovnum – Obubra and the college of Health technology Calabar.

Among the objectives of the university are:

  1. To encourage the advancement of learning, especially among Cross River State indigenes.
  2. To encourage and promote scholarship and research.
  3. To fulfill the general and human development requirement of cross river in particular and of Nigeria in general.

Academic work of the university is in six faculties, four of which are located in the southern senatorial district and one each in the central and Northern senatorial districts.

The calabar campus house comprises the faculties of engineering, environment science and science. The Akamkpa campus houses the sour faculty of education, which has absorbed from the merging tertiary institutions.

The Obubra campus has faculty of agriculture.

The Ogoja campus has faculty of management science.

The University is employed to run:

  • Bachelor Degree
  • Post Graduate Diplomas
  • Master Degree in available courses, and
  • Doctor of philosophy (Ph.D) Degree the programmes are credited by the national university commission (NUC). The university may also grant honorary degrees, ferdoloship and academic titles.

PROJECT TOPIC- IMPACT OF MONETARY INCENTIVES ON WORKERS PRODUCTIVITY IN CRUTECH

UNIVERSITY ADMINISTRATION

Establishment

CRUTECH is an antonymous higher river state government (Bill No. 9 of 2002) to provide technological education. under the Bill, the governor of cross river state of Nigeria, is the Visitor to the  university.

PROJECT TOPIC- IMPACT OF MONETARY INCENTIVES ON WORKERS PRODUCTIVITY IN CRUTECH

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