COMPARATIVE STUDY OF FINANCIAL AND NON FINANCIAL MOTIVATION OF AN ORGANIZATION (A CASE STUDY OF EMPLOYEES IN WEST AFRICAN PORTLAND CEMENT INDUSTRIES)

This research examines the impact of both financial and non-financial rewards on employee motivation, using West African Portland Cement (WAPCO) as a case study. With an emphasis on enhancing organizational productivity, this study explores the roles of monetary incentives—such as wages, bonuses, and holiday pay—and non-monetary rewards, including job security, job satisfaction, and recognition, in motivating employees. While financial incentives have traditionally been viewed as the primary motivators, the growing recognition of non-financial rewards is gaining importance, particularly for fostering long-term employee engagement and job satisfaction. The study reveals that while financial rewards are crucial for immediate employee satisfaction and performance, non-financial incentives, such as career development opportunities, recognition, and a positive work environment, often yield more significant long-term benefits. Through a comparative analysis of these two motivational approaches, the research highlights how integrating both types of rewards into an organizational strategy can improve overall employee performance, retention, and organizational productivity. In the context of WAPCO, the findings underscore the need for management to adopt a balanced reward system that addresses both financial and psychological needs of employees. By understanding the diverse motivators, this study provides actionable insights for managers to optimize their reward structures and enhance employee performance, ultimately contributing to the company’s success and competitiveness in the market.

Keywords: Employee Motivation, Financial Incentives, Non-Financial Rewards, Employee Performance, Organizational Productivity, Reward System

TABLE OF CONTENTS

Title                  

Approval         

Dedication      

Acknowledgements

Table of Content    

Abstract                 

Chapter 1            

1.0   Introduction   

1.1   Background to the Study      

1.2   Statement of the Problem     

1.3   Purpose of the Study             

1.4   Significance of the study       

1.5   Research Questions               

1.6   Hypothesis                               

1.7   Scope/Delimitation  of the Study

1.8   Definition of Terms                          

Chapter 2                                       

2.0   Literature review (Conceptual framework)

2.1   The concept of Motivation                      

2.2   Types of financial method of motivation

2.3   Types of non financial method of motivation  

2.4    Nature and scope of financial and non financial motivation on employees performance

2.5   Motivational theories (Theoretical framework)

2.6   Different views on motivation

2.7   The studies on employees motivation empirical framework)       

2.8   Summary of literature review  

Chapter 3                                

3.0   Research Methodology             

3.1   Design of the Study               

3.2   Area of the Study                   

3.3   Population of the Study         

3.4   Sample/Sampling Techniques

3.5   Instrument for Data Collection

3.6   Validation of the Instrument 

3.7   Distribution and Retrieval of the Instrument

3.8   Method of Data Analysis

Chapter 4                         

4.1   Presentation  of Data and Analysis   

4.2   Discussion  of Findings            

Chapter 5                                

Summary of findings, Conclusion and Recommendation  

5.1   Summary of Findings    

5.2   Conclusions                   

5.3   Recommendations           

5.4   Limitations of the study

5.5   Suggestion or further research  

       References                         

       Appendix                          

       Questionnaire