Tag Archives: Incentives

Economic Integration, Incentives and Non-Oil Export Dynamics in Nigeria: An Empirical Evidence (Published)

This study is a response to the under-performing trend in the non-oil sector of Nigeria which is supposedly a catalyst for massive industrialization and rapid development concerns in a less developed country such as Nigeria. Arguments bordering on the perceived plausibility of trade liberalization and government incentives vis-à-vis non-oil export performance were empirically tested using contemporary econometric techniques of unit root test, co-integration test and error-correction mechanism. Results from the tests conducted revealed a one year positive lag relationship between variables such as foreign private investment, exchange rate, gross domestic product and non-oil export growth. Contrary to theoretical expectation, an inverse relationship was found to exist between a one year lag in agricultural credit guarantee scheme fund and non-oil export performance while, world gross domestic product exerted no significant relationship with non-oil export growth in Nigeria. However, the error correction model revealed a slow speed of dynamic adjustment from short-run to long-run equilibrium and as such, the study recommended among others, a re-examination of the agricultural credit guarantee scheme fund to ensure a positive contribution to non-oil sector development, increasing incentives that stimulate non-oil investment and also maintaining a favourable exchange rate. These policies, if implemented, will assist in unlocking the existing potentials in the Nigerian non-oil sector.

Keywords: Incentives, Non-Oil Exports, economic growth, openness

Influence of Recognition, Rewards, Remuneration, Compensation and Benefits on the Lecturers’ Job Satisfaction in Kenyan Universities (Published)

To have in place quality staff that can make meaningful contribution, certain supportive incentives and measures are necessary. This paper examines the influence of such supportive incentives on the lecturers’ job satisfaction in Kenyan Universities. A study that targeted 2,773 members of university management and lecturers in the chartered public and private universities within Rift Valley Region of Kenya was undertaken. The study used a sample of 605 participants and employed convergent parallel mixed methods design.  Purposive sampling was also used to select information-rich cases. Questionnaires, interview and document analysis guides were used for data collection. Descriptive statistics, Pearson correlation coefficient, independent-samples t-test, One-way ANOVA and regression coefficients, with the use of the Statistical Package for Social Science (SPSS) version 20 were used. The study identified job satisfaction elements like fair promotions, assignment of additional responsibility as a result of outstanding work, among others. However, potential sources of job dissatisfaction included: lack of competitive rates; lack of adequacy of pay commensurate to work done; dissatisfaction with salary, among others. The author recommends that universities should work towards raising the level of job satisfaction through supportive incentives.

Keywords: Benefits and Compensation, Incentives, Job Satisfaction, Recognition, Remuneration, Rewards

Does Microfinance Improve the Standard of the Poor (Published)

Access to microfinance is expected to improve the standard of living of the poor that are economic active and microfinance clients by enabling them to increase their household income. This study examined the contributions of Microfinance institutions to poverty reduction in Southwest Nigeria, using both primary and secondary data collected from Microfinance institutions (MFIs) and randomly selected customers (micro, small and medium enterprises) of the same Institutions. The study adopted a multistage sampling technique. The data from the survey was used to analyze the impact of loan received on earnings using a loan-impact probability model. The study found that Microfinance is an effective poverty alleviation strategy as it reaches the target customers more effectively and helps to a large extent in improving their standard of living and social status and also impacts greatly on Customers’ savings habit and income generation. The study therefore recommended that MFIs should embark on funds mobilisation drive to be able to reach out to more viable customers for provision of financial services. It also recommended that there should be provision of incentives by government to sustain MFIs in order to further extend their services to the rural areas and capacity building of MFIs in Nigeria should be made mandatory so as to develop appropriate policies that will enhance sustainability and stability.

Keywords: Incentives, MSMEs., Microfinance, Microfinance Institutions (MFIs), Poverty

THE ROLE OF THE FINANCIAL AND MORAL INCENTIVES ON EMPLOYEES’ PERFORMANCE IN ACADEMIC LIBRARIES: CASE STUDY OF JORDAN (Published)

The study aimed to investigate the role of the financial and moral incentives on employees’ performance in the academic libraries in Jordan. This study aimed at identifying the role of the academic libraries in meeting the librarians’ societal needs, knowing the implemented incentives approaches and the level of performance in the academic libraries. Methodology approach used data about the role of the financial and moral incentives on employees’ performance in academic libraries were obtained through a survey questionnaire distributed to employers in the academic libraries in Jordan. The study used 5 public universities (n=5, 20.83%) and 5 private universities (n=5, 20.83%) out of 24 universities in Jordan, were selected for the purpose of this study. Social implications regarding this study, the results indicated that there was a relationship between financial, moral incentives and employees’ performance as well as between financial, moral incentives and internal library process and users’ satisfaction, caution must be exercised in generalizing the results from this study to other situations in the service academic library environment. The findings indicated that there was an adequate level of incentives provided to librarians. The financial incentives ranked in the 1st place while moral incentives ranked in the 2nd place. Regarding the value, this study has verified further research opportunities that could enrich the understanding of incentives and employees’ performance in the Jordanian academic libraries.

Keywords: Academic Libraries, Employees’ Performance, Financial, Incentives, Jordan, Moral

Interactive effects of Performance appraisals on employees’ motivation in Pakistani banking sector (Review Completed - Accepted)

Purpose: The purpose of this research work is to check the impact of performance appraisals (incentive practices and benefits provided by the organization) on employee motivation.

Importance: Performance appraisals are very important tool in Human resources management to retain efficient employees whose commitment level with the organization is relevantly high from others. Working with motivated employees actually increases the performance of the organization. The present study is about the performance appraisals that incentives and benefits increase the morale level of employees and stimulate them towards work. Employees who are compensated with appraisals and appreciations, they have done their work well.

Design/methodology/approach: Quantitative study was conducted in banking sector of Pakistan. 200 self-administrated questionnaires were distributed in different banks of Pakistan. 182 questionnaires were returned with 92% respond. Confidentiality of response is secured.

Findings: The statistical analysis told that incentives and benefits have very positive and significant impact on employees’ motivation. Limitation and guideline for future research is also provided.

Research limitations/implications: Sample size of the study was limited and only two variables related to performance appraisals were taken. Sample size can be increased for future research and the effects of other variable nature of the task, promotions as a variable, organizational environment, can be studied in the future.

 

Keywords: Benefits, Employees’ Motivation, Incentives, Performance Appraisals