THE EFFECT OF JOB SATISFACTION ON EMPLOYEES’ PERFORMANCE

(A CASE STUDY OF UNION BANK NIGERIA PLC, AKPAKPAVA BRANCH)

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Job dissatisfaction among workers has been a bone of contention and most researched variable among management and human resource researchers (Dhammika, Ahmad, & Sam, 2001). The world is a global village, job seekers expect to be engaged in an organization that provide adequate work environment, free of environmental hazards, well ventilated, and secured thereby leading to job satisfaction. Essentially, researchers in the fields of organizational behaviour and management opined that the conceptual framework of the phenomena (satisfaction) is complex, indescribable and mythical (Malik, 2011). It has been argued that organizations cannot be at their best until workers are committed to the organizational goals and objectives (Dixit and Bhati, 2012). However, the degree to which workers are satisfied with their jobs vary and subject to factors such as job environment, work hours and schedules, reward system, (Osibanjo, Abiodun, and Fadugba, 2012). In other words, workers’ commitment can be described as a function of job satisfaction, which implies that workers could be committed in delivering their services when they are satisfied with their jobs and this may be influenced by job environment.  Job environment include workers’ immediate vicinity where they carry out their assignments (Chapins, 1995); achieve management perceived and expected results (Shikdar, 2002, Mike, 2010). Job environment entails some basic features that tend to make workers satisfy on their job amongst which include; easy accessibility, ventilation, ergonomic furniture, cooling system, (Humphries, 2005; Veitch, Charles, Newsham, Marquardt & Geerts, 2004); and these have positive impact on workers’ health (Dilani, 2004; Milton, Glencross & Walters, 2000). With the understanding that job formed an integral part of workers’ life, it is therefore essential for workers to seek its satisfaction in order to be able to render their services without reservation, which tends to increase productivity at both employee and organizational levels. Job satisfaction as an independent variable can be influenced by other variables such as wages, benefits, job security, work type, family and so on. 

Workers plight in the country today has left many well meaning Nigeria with many question some of these questions are how to satisfy our workers in their various establishments.

Job satisfaction describes how content an individual is with his or her job.

1.2 STATEMENT OF PROBLEM

Poor job satisfaction coupled with low employee effects productivity in an organization. Again, we have basic human nature at workplace. When employees are unhappy, they do not focus well and they do not pay attention to their tasks. They find hundreds of other things to do that could give them satisfaction.  When one member of a team displays low productivity, it is only natural for other members of the team to feel dissatisfied as a result, and their productivity will begin to decline as well. It is a vicious cycle that is common in most organizations.

Low job satisfaction also creates high turnover rates with employees. Sooner or later, the employee is going to quit so that they can find a job that gives them much satisfaction. Many industries such as banks industry suffer from high turnover rates and the inability to retain qualified workers. It is up to small business owners and managers to find a way to increase job satisfaction, particularly in difficult industries in which the jobs are tough and the pay is low.

1.3 OBJECTIVE OF THE STUDY

This study is designed to investigate the effect of employees’ job satisfaction on organizational productivity in the selected business enterprise in with view to identifying issues and prospect as the affects.

1.     To identify the factors which influence job satisfaction of employees.

2.     To find out whether job satisfaction has impact on the employees productivity.

3.     To identify the factor which improves the satisfaction level of employees

4.     To find out if there is job satisfaction in the organization under study.

5.     To examine workers attitudes to work if there is job dissatisfaction

1.4 RESEARCH QUESTION

It is the objective of this study to know if:

1.     Is there appropriate job satisfaction in your organization?

2.     Are workers attracted to work in the organizations?

3.     Are workers happy workings with their company?

4.     Are workers well paid by the organization?

5.     Are you satisfied working with the organization?

1.5 SIGNIFICANCE OF THE STUDY

The findings from the study serve as a reference for future researchers who may while wish to explore the subject. This will enable them to get feedback regarding the effectiveness of the subsequent policy formulation and planning.

The employee themselves will find this study very useful it will the need arise.  The motivational tendency of workers to feel that their effort and welfare have been recognized in an organization.

It will also give the employees the idea of what to expect the management to do for them and also serve as a guide enabling them set limit to their unnecessary demands.

1.6 THE SCOPE OF THE STUDY

This study was limited to the effect of job satisfaction on organizational productivity using Union Bank as a case study. The area therefore, is Union Bank Plc, Akakpava in which useful data where gather for the research study.

1.7 LIMITATION OF THE STUDY

It will be of more importance to highlight certain militating factors that tend to narrow or limit my scope of study. This project research would have been easier if not for these limitating factors:

1.     Time factor: time was not on the researchers to consult various sectors of the economy to review employees or given out questionnaire to various institutions on the effect of government revenue policies.
As we all know, time is never our friend. The time scheduled for the completion of this research thesis was too short. As a result, generating information/data was strenuous as it coincides with final year examination period, which needed attention.

2.     Finance: this is another barrier that limited the researcher’s work.

3.     Available resources: was unavailable for the research work.

1.8 THE DEFINITION OF TERMS

1.     Drive - The motivational to act or carry out an action.

2.     Emotion - The inward feelings for outward observation.

3.     Job satisfaction - The total body of felling that an individual has about his job.

4.     Ethic - The professional rules or code of doing job.

5.     Corporate objective - the company set goal.

6.     Bifurcation of objective - When the corporate objective conflict with the workers objectives.

7.     Conceptualized - this means the imagination and visualized the presence of something in presence.

8.     Interesting - The job or satisfaction and desire from doing something he likes.

1.9 HISTORICAL PROFILE OF THE COMPANY UNDER STUDY

Union Bank of Nigeria Plc., commonly known as Union Bank of Nigeria, is a commercial bank in Nigeria.

Union Bank is a large commercial bank, serving individuals, small and medium-sized companies, as well as large corporations and organizations. In July 2009, it was rated the 556th largest bank in the world and the 14th largest bank in Africa. As of June 2012, the bank's asset base was estimated at US$6.784 billion (NGN:1.049 trillion). The shareholders' equity at that time was estimated at US$1.22 billion ( NGN:188. 4 billion).

The bank was founded in 1917 as Colonial Bank. In 1925, Barclays Bank acquired Colonial Bank, changing the bank's name to Barclays Bank (Dominion, Colonial and Overseas) or Barclays Bank (DCO). In 1969, Barclays Bank DCO was incorporated in Nigeria, as Barclays Bank of Nigeria Limited, to comply with new banking laws enacted in 1968.

In 1971, the shares of the bank stock were listed on the Nigerian Stock Exchange. In the same year, 8.33% of the bank’s shares were offered to Nigerians. The following year, the Federal Government of Nigeria acquired 51.67% ownership of the bank, leaving Barclays Bank Plc. of London with 40% ownership. In 1979, that 40% was sold to Nigerian individuals and businesses to comply with then recently enacted banking and investment laws. The bank changed its name to Union Bank of Nigeria Plc., to reflect its new ownership structure. In 1993, the Federal Government of Nigeria completely divested its ownership in the bank. Subsequently, Union Bank of Nigeria Plc. acquired the former Universal Trust Bank Plc. And Broad Bank Limited. It also absorbed its former subsidiary Union Merchant Bank Limited.