THE EFFECT OF FINANCIAL MOTIVATION ON EMPLOYEES’ PERFORMANCE IN SELECTED BAKERIES IN EKITI STATE
Abstract
ABSTRACT
This study investigates the effect of financial motivation on employees’ performance in selected bakeries in Ekiti State. The specific objectives of this research are to find out how bonus pay affects employees’ performance, find out how special benefits affects employees’ performance in selected bakeries and examine how salary affects employees’ performance in selected bakeries in Ekiti State. Three research questions were raised in line with the objectives. The study adopted a survey method. The population of the study covered all the 100 workers of Oyato Bread Bakery, Chicken Republic Bakery and Captain Cook Bakery at the major branches in Ado Ekiti. A sample of 100 employees from the Oyato Bread Bakery, Chicken Republic Bakery and Captain Cook Bakery were selected using random sampling techniques. Data analysis was conducted using both descriptive and inferential statistics. The simple percentage method was applied for the analysis of the research questions. Chi-square tests were employed to analyze the hypotheses. The study found that that bonus pay is have a significant positive impact on various aspects of employee performance. The findings revealed that special benefits such as health insurance, paid time off, retirement benefits, professional development opportunities. The findings revealed that competitive salaries, regular performance-based increases, fair and transparent salary structures, and salaries that reflect job responsibilities and skills are perceived to have significant positive impacts on various aspects of employee performance. The study concluded that financial motivation plays a crucial role in employee performance in Ekiti State bakeries. The study among many recommends Bakery owners and managers should implement a diverse range of financial motivations, tailoring them to individual employee needs and organizational goals.
Keyboards: Effect, financial motivation, employees, Performance, Bakeries
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