Financial Incentive a Motivation Tool for Enhancing Employee Performance in a Recessed Economy A Case Study of Selected Hotels in Awka Metropolis
The purpose of this study is to determine the relationship between financial incentives as a motivational tool and employees’ performance in a recessed economy a case study of selected Hotels in Awka metropolis in Anambra State. The populations of the study were 51 workers, as for the respondents of the sample, they were 45 employees selected from 3 hotels in UNIZIK junction temporary site in Awka metropolis were sampled 15 from each hotel who received 45 questionnaires, 41 questionnaires were returned, which forms 93 of the sample. Convenience sampling was used as a sampling design and questionnaire in Likert form was used to gather data from the participants descriptive statistics frequency, percentage and mean, etc was used to analysis findings. The Pearson Product Moment Correlation Coefficient was used to test the hypotheses that guided the study. The results show significant association between financial incentives and employee performance which collaborates with the expectancy theory of Vroom 1964 134 . The study reveals financial incentives such as commission on sales given to workers in an organisation has a significant influence on the workers commitment. The researcher recommended that financial incentives should be given according to the level of performance in order to persuade the employees into doing their best as to improve their performance in order to persuade the employees into doing their best as to improve their performance by doing so, incentives will be associated with improving the performance and vice verse, without having any vested interests. Finally, this study has verified further research opportunities that could enrich the understanding of incentives and employee performance in Hotel firms.
Osifoh Ozoya Austine | Musah Ishaq