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

Abstract

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.