COMPARATIVE STUDY OF FINANCIAL AND NON FINANCIAL MOTIVATION OF EMPLOYEES IN AN ORGANIZATION (A CASE STUDY OF WEST AFRICAN PORTLAND CEMENT INDUSTRIES)

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ABSTRACT

The main aim of this research work is to investigate the relationship of the two types of rewards namely financial rewards and non-financial rewards towards employees motivation. The research work was restricted towards manufacturing company that is, West African Portland Cement. Based on the past literature, it is found that financial rewards or money has become the main motivator for employees performance in an organization. Traditionally, little thought has been given to the impact of non-financial rewards as it does not hold any immediate monetary value to the employees. However, in the context of heightened awareness among employers and employees, there has been greater emphasis on non-financial rewards, such as praise and recognition as it holds a deep and greater impact to the employees especially in the long run. This work defines the nature of financial and non financial rewards on employees motivation. By undertaking a comparison between the financial and non-financial rewards, the outcome of this paper provides vital information for organizations to structure a better rewards plan for their employees. 


TABLE OF CONTENTS
Title
Table of Content
Abstract
Chapter 1
1.0   Introduction
1.1      Background to the Study
1.2      Statement of the Problem
1.3      Purpose of the Study
1.4      Significance of the study
1.5      Research Questions
1.6      Hypothesis
1.7      Scope/Delimitation  of the Study
1.8      Definition of Terms
Chapter 2
2.0   Literature review (Conceptual framework)
2.1      The concept of Motivation
2.2      Types of financial method of motivation
2.3      Types of non financial method of motivation
2.4      Nature and scope of financial and non financial motivation on employees performance
2.5      Motivational theories (Theoretical framework)
2.6      Different views on motivation
2.7      The studies on employees motivation (empirical framework)
2.8      Summary of literature review
Chapter 3
3.0   Research Methodology
3.1   Design of the Study
3.2   Area of the Study
3.3   Population of the Study
3.4   Sample/Sampling Techniques
3.5   Instrument for Data Collection
3.6   Validation of the Instrument
3.7   Distribution and Retrieval of the Instrument
3.8   Method of Data Analysis
Chapter 4
4.1   Presentation  of Data and Analysis
4.2   Discussion  of Findings
Chapter 5
Summary of findings, Conclusion and Recommendation
5.1   Summary of Findings
5.2   Conclusions
5.3   Recommendations
5.4   Limitations of the study
5.5   Suggestion or further research
       References
       Appendix
       Questionnaire



CHAPTER 1
1.0     GENERAL INTRODUCTION
It is obvious that financial and non financial motivation of employees in an organization is very essential because it aids the performance evaluation of employees in various department section etc and also assist managers to know  why worker behave in certain ways and really motivate them to perform well at work place.
Motivating the personnel of an organization to make minimum effort towards the attainment of its objectives has along occupied the mind of managers from the managing directors to the invest ranking supervisors. Managers should be aware of the fact that people of the same organization work for different reasons for example, if a  manger looks at a group of workers performing the same job for some time he cannot observe that some workers perform better than others. In explaining this two variables come to mind immediately, one is the difference in degree of skill and ability displayed by individual works, the other variables can be describe as motivation therefore, to guide workers activities in the described direction, it is important for managers to know why workers behave in certain ways and what really motivate them to perform well at work place.
In an industrial organization, the importance of incentives cannot be over emphasized. Incentives are intended to stimulate the desire to work, they are eternal factors or condition brought to bear on.... 



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