Employee retention and motivation as correlates of organization performance among bank employees in Victoria island, Lagos.

• Main Authors: Owodunni, Abdulfatai Adekunle, Obalalu, Abosede Oluwayemisi
• Format: Article in Journal/Newspaper
• Language: English
• Published: Department of Psychology, University of Ibadan 2016
• Subjects: Employee Retention; Employee Motivation; Organization Performance Organization Productivity; Victoria Island
• Online Access: http://www.ajol.info/index.php/ajpssi/article/view/137043

This study examined the correlation between employee retention, motivation and organization performance among bank employees in Lagos, Nigeria. The study adopted an expo facto research design. Three hypotheses were generated and tested in the study. Respondent were two hundred and fifty (250) bankers that were randomly selected from both first generational banks (First Bank of Nigeria, Wema Bank Plc, United Bank for Africa and Skye Bank Plc), and the new generational banks (Guaranty Trust Bank Plc, Access Bank PIc, First City Monument Bank, and Diamond Bank Plc). These bankers responded to Retention and Motivation Assessment Scale (REMAS) used for the study. Data were analyzed using multiple regression and analysis of variance, and all the hypotheses were tested at 0.05 level of significance. The findings revealed that there was significant joint influence of age, retention and motivation on organisation performance among the bank employees, that employees’ retention in the banks as grossly resulted in high level of productivity in the banks, and that there was significant enhancement of organization performance due to the implementation of appropriate motivation of the human resources in the banks in Lagos. Recommendations were offered on how best employees in the banks could be retained, how to motivate these bank employees in a way to encourage them putting in their very best into their organization performance.Keywords; Employee Retention, Employee Motivation, Organization Performance Organization Productivity.