EFFECT OF MOTIVATIONAL STRATEGIES ON EMPLOYEE PERFORMANCE IN NIGERIAN DEPOSIT MONEY BANKS

Abstract

Purpose: This study examines the impact of motivational strategies on employee performance with the mediating role of employee formal recognition.   Method: Collected data were analyzed by structural equation modeling. This study reveals that factors such as salary satisfaction, working environment, bonus and fringe benefits, and training and development have positive and significant associations with employee performance except for job security.   Findings: Moreover, these findings suggest that providing formal recognition to employees enhances their employee performance, thereby positively impacting their overall performance.   Research, Practical & Social Implications: Hence, this study recommends that the management should focus on these motivational factors by creating a positive work environment, attract and retain talented employees, and foster higher levels of job satisfaction, and ultimately contributing to improved organizational performance and success.   Originality/Value: The originality of this study lies in its analysis of motivational strategies and employee performance in Nigerian Deposit money banks. Furthermore, the study highlights the relevance of motivating employee related issues to ensure improved performance and effective use of strategies.