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THE IMPACT OF
MANAGEMENT INCENTIVE POLICIES ON WORKER’S PRODUCTIVITY
ABSTRACT
The impact of management incentive policies on worker‟s
productivity. The place of good management incentive policies on employee‟s
productivity cannot be over emphasized. Most incentives plans are designed to
help increase efficiency in the organization. However, obtaining employee‟s
acceptance of incentive system may be difficult at the onset. This research has
been necessitated by the need of raise awareness of practitioners and the
employers of labour to the need of high productivity through good incentive
policies. The researcher‟s search light was beamed on several theories of
incentive usefulness and purpose of a good incentive policy in an organization.
Problems associated with individual incentive plans were also enumerated with a
view to providing solutions to those problems in form of recommendations, which
is that the management should concentrate more on individual incentive scheme
whereby reward will be based on individual effort. Organizations have divergent
policies on incentive, but towards what extent has these packages improve
productivity? This research work is significantly useful as a reference point
for subsequent researches and more useful to every organization that that
desires to achieve high productivity. The descriptive research was adopted,
while both primary and secondary source of data were explored. The population
of the study was 187 and the sample size is 127 by using Yaro Yamane method.
The study revealed that good incentive polices motivate workers, motivated
workers are happy workers and happy workers are productive workers. The study
also revealed that a monetary incentive is essential in getting workers to
perform better. However, money is not everything for other factors are equally
important.
CHAPTER ONE
INTRODUCTION
An incentive is a form of financial encouragement recognizing
a particular contribution made by the work force, in other words, it is a sum
of money paid in addition to the basic rate which the organization pays to
ensure that its most important production aspects are being optimized . For
instance, a capital intensive company might have an incentive linked to machine
utilization.
Performance incentives are payment made to an employee or
group of employee based on amount of output. The use of performance incentive
policies is premised on the belief that output can be measured and performance
by workers, it used dated back to the era of the scientific management movement
championed by Fedrick Winslow Taylor who argued passionately for the use of
incentive wage system as a way of getting more output from the workers. It was
also aimed at combating “soldering” or boondoggling” which was a practice of
deliberate restriction of output by workers on the job as at that time. Taylor
believe that workers could always exert greater efforts if they were to be paid
a financial incentive based upon the number of units of work they were able to
produce. He then developed the differential rate system which gives a worker a
lesser piece rate e .g #1.0 per piece if he produced less than the standard
amount of output required by so doing; individual workers are motivated to
produce greater output.
In every organization, large or small private or public
enterprises, human resources (employees) are always the pillar of the success
of the organization. The human elements have their individual drives, desires,
needs, wishes and similar forces which they intend to satisfy when they are
coming into an organization. The satisfaction or non-satisfaction of these
needs by the organization has an impact on the behaviour or performance of the
employee and eventually on productivity.
The usefulness of good incentive policies which leads to
motivation of the employee cannot be over emphasized. Every organization
depends on motivation among other factors for the attainment of their
objectives. The monetary incentives like bonuses, wages, salary increment, e t
c to put more effort in their work which help to improve the level of
productivity in both private and public industries.
Many a time, the most concern of employer is to make the
employee to contribute to the attainment of organizational objectives, but they
should know that if the employees are not happy with the management of the
organization, there will be a very low rate of production in the organization,
that is why Hekina and Jones (1967) page 120 visualize that employees should be
seen and valued as assets for the allocation of organizational resources. This
project will be based on the impact of management incentive policies on
workers‟ productivity using Dangote cement factory obajana, kogi state as a
case study.
1.1 STATEMENT OF PROBLEM
Most incentive plans are designed to assist in increasing
efficiency in the organization. However, obtaining employees acceptance of an
incentive system may be difficult at the onset. There may be fear that the plan
will lead to a speed up layoffs or reduce wage can cause workers resistance.
Most employers do different things for instance ranking of
people, contest, performance appraisals, production, teams and departments,
shifts, commission pay etc. all this are believed to enhance performance. Some
researchers think it does the opposite instead of trying to use the external
motivation (something outside the work itself such as promised rewards or
incentives) to get higher levels of performance from people. Employers will be
better served by studying the organization as a system. Employers demand
results. Without good result organization will find it difficult to survive.
Managing incentive policies is a requirement for higher productivity.
Consequent upon a systematic survey of the constraint
inimical to the success of management incentives policies
1. To what extent has incentive policy affected workers
productivity?
2. What is the purpose and importance of these incentives?
3. What is the effect of the absence of these incentives?
4. What is the way out?
1.2 OBJECTIVES OF THE STUDY
Good incentive policies, when put in place, motivate workers
and make them happy and happy workers are often productive. Good management
incentive could be financial or non financial in nature. Financial incentive
happens to be the most important of the incentive schemes and it includes wages
and salaries, profit sharing scheme, etc.
This researcher shall, by this study therefore beam search
light on various aspect of management incentive policies vis-Ã -vis
productivity, with a view to achieve the following objectives among others.
i. To examine the nature and feature of various incentive
schemes
ii. To examine the usefulness and purpose of incentive in an
organization
iii. To examine problems associated with individual incentive
plans
iv. To make relevant recommendations based on findings.
1.3 RESEARCH QUESTION
i. To what extent does money motivate employee?
ii. How do workers respond to different incentive?
iii. How does management incentive policy impaction workers
productivity?
iv. How can workers implement or improve incentive system in
their work place?
1.4 SIGNIFICANCE OF THE STUDY
The significance of this study cannot be over emphasized. It
is particularly useful to the organization in question, Dangote cement factory
obajana and to other organizations. It will serve as a guide to show the
different incentive scheme and packages organizations can adopt as well the
need to inculcate the principle of responsibility, motivation and fairness in
every organization.
The research work will also be useful for academic purpose in
the sense that it is an improvement on past academic work of other researchers
on the subject of management incentive policies vis-Ã -vis employee
productivity. It also serves as a reference point for subsequent researchers.
The need for the study therefore becomes stronger and
consequently the desire to find out how and to what extent effective incentive
policy could help in increasing workers productivity. Above all, this research
work is significant to the society at large as it includes the need for
efficiency and effectiveness which will encourage growth and development.
1.5 SCOPE OF THE STUDY
This study will cover the impact of management incentive
policies on workers‟ productivity in Dangote Cement Factory Obajana located in
Kogi State in North central region of Nigeria within the period of the year
2013.
1.6 LIMITATION
Some limitations that were identified and encountered in the
process of the study include:
i. Financial constraint:- in running around to gather
material for this study considering the economic meltdown, money and other
resources where involved delayed the completion of this work.
ii. Time; – The researcher was constrained by time in running
round for the completion of this project.
iii. Attitude of respondents;- the research found it
difficult initially to source required information from the members of staff of
obajana cement factory, this also delayed the completion of this work.
iv. Electricity ;- the researcher had a hard time in typing,
proof reading, printing, and editing of this work due to the incessant seizure
and interruption of power supply by the power holding company of Nigeria .
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