THE IMPACT OF INCENTIVE AND FRINGE BENEFIT ON EMPLOYEES JOB PERFORMANCE A STUDY OF SPECOMILL TEXTILES LIMITED IKEJA LAGOS

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ABSTRACT
This project work title “The impact of incentives and fringe benefits on employee’s job performance, a study of Specomill Textiles Limited, Ikeja Lagos”. Is aimed to verify and examine the direct effects of incentives and fringe benefits on the workers (employees) using the employees of Specomill Textile Limited as a methodology. The methodology for research work consist of primary and secondary data, and the methods of data collection included questionnaires, interviews and observation. The population of staff was determined using sampling techniques. Three hypotheses were formulated and tested using chi-square analysis of the data revealed that wages and salaries will motivate an employee to put more effort on their job, the study revealed that incentives help to perform more better on their job position. It was recommended that fringe benefit in an organization help to enhance efficiency and effectiveness in their job place.

LIST OF TABLES
Section A:
Table 4.5.0 Number of questionnaire administered
Table 4.5.1 What is your sex?
Table 4.5.2 What is your age in bracket?
Table 4.5.3 What is your educational qualification?
Table 4.5.4 What is marital status?
Table 4.5.5 What is your income in bracket?
Analysis of data in section B
Table 4.5.1 The management skill employed by the organization
has major effects on employee performance
Table 4.5.2 Would you agree with the management school of
thought which says that the best way to enhance productivity is through strict regulation and the carrot and strict method?
Table 4.5.3 Employees who enjoy rest hour, leaves and other
forms of incentives and job benefits perform their job effectively than those who do not?
Table 4.5.4 Do you attest to the fact that employees will be
committed when they are allowed to use their initiative to work?
Table 4.5.5 Do organization feels better when employees are happy
with their work conditions?
Table 4.5.6 Would you prefer to work under strict supervision in
order to ensure productivity?
Table 4.5.7 Do you agree that there will be low output and
ineffective performance by employee when there is no or little incentives and fringe benefits for employees?
Table 4.5.8 Does wages and salaries motivate an employee?
Table 4.5.9 Do incentives help to increase job performance on
employee?
Table 4.5.10 Does fringe benefits help to motivate an employee to perform more better on their job position?

CHAPTER ONE

1.1 Background to the Study

Specomill Textile Limited, a manufacturer of Textile Material was established by some of the Indonesian expatriates in the year 1966 at Ikeja. This organization is production oriented, that is, it has six departments out of which three are engaged mainly in production. The three production departments include weaving, dying and spinning. The three other departments as of Specomill Textile includes;
Administrative finance and marketing when the organization was established in 1966, it had just three departments namely weaving, dying and administrative department few years later, precisely in 1970, other departments were formed.
This organization is created for the purpose of attaining specific goals. This, out of the various resources available to any organization, the human resources which include materials and personnel are budgeted, directed, coordinated, and controlled towards the attainment of the goal of the organization.
As a result of increasing interest in the areas of welfare, problems of employee’s commitment on their job, special attention must be paid to the employees that is, the human resources of the organization. Motivation is the means of acknowledging and understanding the needs, wants, feelings, ideas and emotions of the employees and then providing ways and methods of boosting their egos which will encourage them to use their abilities and knowledge in their works. Various models have been postulated by renounced men, showing the behaviour of various kinds of human beings and hour they can be motivated maximum performance via the application of the right model-Dubin (1958).
Gone are the days when salaries and wages accounted for the only reason why people go to work. Past researchers have shown that the efficacy of money as a major tool for motivation is increasingly on the decline. Various forms of “incentives and fringe benefit” in addition to salary now constitute motivating factors for employees and workers alike.
Finally, the importance of motivation among other managerial functions cannot be overemphasized. This is because an organization’s human resources is the most valued resource of the organization.

THE IMPACT OF INCENTIVE AND FRINGE BENEFIT ON EMPLOYEES JOB PERFORMANCE A STUDY OF SPECOMILL TEXTILES LIMITED IKEJA LAGOS