THE IMPACT OF MANAGEMENT INCENTIVE POLICIES ON WORKERS

PRODUCTIVITY IN FIRST BANK PLC

BY

ALFA ABDULRAHMAN

UN17BA1086

BEING A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF

BUSINESS ADMINISTATION IN PARTIAL FULFILLMENT OF THE
REQUIREMENT FOR THE AWARD OF BACHELOR OF SCIENCE DEGREE
B.SC IN BIUSINESS ADMINISTATION

AUGUST 2023
 DEDICATION

This project is dedicated to Allah SWT, who in his constant worthiness and
benevolence of his mercies gave me the courage, knowledge, wisdom and
understanding toward attaining this educational height.
 DEDICATION
I hereby declare that this project title the impact of management incentive policies
on workers productivity in first bank Plc has been written by me under the direct
supervision of Dr. Gumi of the Department of business administration, Ahmadu
bello university, Zaria. Also, sources of information were duly acknowledged by
means of references, I hereby accept responsibility for any mistake or error in this
research work.

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ALFA ABDULRAHMAN DATE
 CERIFICATION
The project entitled the impact of management incentive policies on workers
productivity in first bank plc. Has been read, approved and accepted to meeting the
requirement for the award of degree of B.Sc. in business administration, Ahmadu
bello university Zaria.

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Project supervisor Signature Date

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Project coordinator Signature Date

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Head of Department Signature Date
 ACKNOWLEDGEMENT

I would like to first give thanks to Almighty Allah the most merciful and the most
beneficent for sparing my life and also for guiding and protecting me throughout
this programme, I will also like to show my appreciation and vote of thanks to my
able and humble Supervisor, Dr. Aminu S. Gummi for his constructive, criticism,
observations and advice, may Allah reward him abundantly.

Special thanks and appreciation go to my entire family members, especially my

father Alhaji Alfa Muhammed, my late mum Hajiya Hauwa Muhammed for we
started this journey with me but returned to Allah SWT, you will forever be
remembered, my step mum, Hajiya Maimuna and Hajiya Madina who stood solely
behind me during this programme.

I also like to acknowledge my uncles and aunties, brothers and sisters for their
encouragement. may God bless you all.

I will also like to acknowledge my collagenous and friends whom I so much

enjoyed their company. May Allah bless you all Ameen.
TABLE OF CONTENTS

Content----------------------------------------------------------------------------page

Title Page-----------------------------------------------------------------------------I

Dedication-----------------------------------------------------------------------------ii

Declaration----------------------------------------------------------------------------iii

Certification---------------------------------------------------------------------------iv

Acknowledgement--------------------------------------------------------------------v

Table of Contents---------------------------------------------------------------------vi

Abstract--------------------------------------------------------------------------------vii

CHAPTER ONE

Introduction

1.2 Background to the Study ----------------------------------------------------------1

1.3 Statement of the Problem----------------------------------------------------------2

1.4 Research Question -----------------------------------------------------------------3

1.5 Objectives of the Study------------------------------------------------------------3

1.6 Statement of Hypothesis ----------------------------------------------------------4

1.7 Significance of the Study----------------------------------------------------------4

1.8 Scope and Limitation of the Study ----------------------------------------------5

1.9 Definition of Operational Terms-------------------------------------------------6

CHAPTER TWO

LITERATURE REVIEW

2.1 Introduction ------------------------------------------------------------------------------8

2.2 Concept of Incentives ------------------------------------------------------------------8

2.3 Fact that Enhance Productivity--------------------------------------------------------9

2.4 Concept of worker productivity------------------------------------------------------10

2.5 Concept of Incentive ------------------------------------------------------------------13
2.6 Relationship between workers productivity and incentives----------------------22
2.6 The Related Literature Reviewed----------------------------------------------------25

2.6.1 Demand of Workers from Its Work-----------------------------------------------25

2.6.2 Individual Incentive Plan-----------------------------------------------------------28

2.6.3 Problem Associated with Individual Incentive Plan ---------------------------29

2.6.4 Group Incentive Plan --------------------------------------------------------------30

2.6.5 Wide Production Plan------------------------------------------------------------- 31

2.6.6 Profit Sharing Scheme-------------------------------------------------------------31

2.7 financial development in productivity development-----------------------------31

Chapter Three

Research Methodology
3.1 Introduction -----------------------------------------------------------------------------33
3.2 Research Design -----------------------------------------------------------------------33
3.3 Population of The Study --------------------------------------------------------------34
3.4 Sample Design and Determination of Sample Size -------------------------------34
3.5 Method of Data Collection------------------------------------------------------------35
3.6 Technique of Data Analysis ----------------------------------------------------------36
3.7 Justification of data--------------------------------------------------------------------37
Chapter Four
Data Presentation and Analysis
4.1 Introduction -----------------------------------------------------------------------------38
4.2 Data Presentation and Analysis ------------------------------------------------------38
4.3 Test of Hypothesis ---------------------------------------------------------------------47
4.4 Summary of Findings -----------------------------------------------------------------49

Chapter Five
Summary, Conclusion, And Recommendations
5.1 Summary --------------------------------------------------------------------------------52
5.2 Conclusion ------------------------------------------------------------------------------53
5.3 Recommendation ----------------------------------------------------------------------54
References ----------------------------------------------------------------------------------56
 ABSTRACT
Researches have shown that good management incentives could be financial or non-financial in nature,
financial incentive is the most important of the incentives scheme. This study therefore focused on the
impact of management incentive policies on workers productivity in first bank plc. The objectives of the
study are to examine the nature feature of various incentives on workers productivity in first banks of
Nigeria to examine workers response to different incentives in first bank of Nigeria. The significance of
this cannot be over emphasized.it is particularly useful to the bank in question, first bank of Nigeria
limited and to other banks. The study will cover the impact of management incentive policies on workers.
Data will be collected using different method of data collection such as journals, insurance year book,
interview and questionnaire. Based on the analysis it was found that increased productivity is
determining factor in the welfare of any nation and its people and therefore counties that have high
returns on productivity invariably enjoys high level of productivity. It is recommended that the
management should endeavor to bridge the communication gap between them and workers. The
communication link should be improved or modified so that workers can have a sense of belonging and
thereby put in their best to aid the organsition.