Workers Welfare and Organizational Performance in Financial Institutions in Nigeria

ABSTRACT

This research work examined workers’ welfare and organizational performance in Financial Institutions in Nigeria with special reference to the United Bank of Africa (UBA) and Diamond Bank Plc in Nsukka 2009-2015.
The practice of workers welfare activities has now become a popular phenomenon of the total personal policy of any organization both public and private.

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Workers’ welfare means giving extra benefits to employees to supplement their wages at the cost of the employer.
Workers’ welfare induces the employee to work hard and improve their general attitude, rewards the organization and increases their level of production.
In other words, effective workers welfare engender organizational performance, the methodology adopted in the conduct of this research was both primary and secondary sources of data collection.
Federic Herzberg Motivation-Hygiene theory was adopted. However, 125 questionnaires were distributed to UBA and Diamond Banks respectively, but 120 were returned which was the figure that was worked with.
The data collected were presented in tabular form and chi-square was used in testing the hypotheses at the end.
The study revealed that lack of job security, poor workers’ welfare, and lack of cordial relationship between the workers and the management hindered the performance of UBA and Diamond Banks workers in Nsukka.

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INTRODUCTION

Background of Study
The practice of workers’ welfare activities has now become a popular phenomenon of the total personnel policy of any organization.
The activities involved giving extra benefits to the employee to supplement their wages at the cost of the employer (Pearson and Ramos, 2005).
From the view of the employees, it is seen that good workers’ welfare activities will induce the employees to work hard and improve their general attitude, reward the organization and increase their level of production.
But for the employer, these benefits represent extra income, additional security, or more desirable working condition that require no additional effort (Alaranta and Maarit, 2004).
In both private and public organizations, employers of labour observed that employees’ welfare service is the ability of the sub-ordinate to contribute more to the achievement of the organizational goal promotes industrial relations so as to maintain industrial peace.
Because of the complexity of human behaviour and the dynamics of organizational circumstances, many a management goes about managing workers in such manners as could undoubtedly produce sub-optimal results, thereby jeopardizing the chances of the organizations, realizing their set goals and objectives efficiently.

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