Lumumba, Patrick (2012) An Assessment of the Effectiveness of Non-Monetary Incentives in Motivating Sacco Society Staff: A Case Study of Front Office Savings Accounts Workers in Nairobi County. Masters thesis, Kabarak University.
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Abstract
The success of an organization in realizing its objectives heavily depends on the performance of its employees. Performance is considered to be related with the concepts of ability, opportunity and motivation. There are many contemporary research studies supporting the effectiveness of non-monetary incentives as a motivating tool in the private sector organizations. However, there is hardly any study regarding its use in SACCO society organizations. Kenya is a country where the co-operative movement has achieved tremendous growth through the last decades. The first savings and credit cooperative society was registered 30 years ago, to date the country has over 5000 savings and credit cooperative societies popularly known as Saccos. The objective of these Saccos was simply meant to assist members of the cooperative movement access credit facilities from among themselves. The purpose of this study was to analyze the use of non-monetary incentives in the Front Office Saving Account (FOSA). The study used a cross section survey of all the FOSAs found in Nairobi province with the FOSA employees being the main population of the study. The study used a simple random sampling method to arrive at the expected sample size of 110 respondents. The data was analyzed using descriptive statistical method and multiple regression. The study found that various fringe benefits affect the employee motivation most followed by job promotion, then career development while teamwork had the least effect. The study recommends that the Saccos should adopt a clearly laid out promotion scheme for the employees in the organizations. Since promotion opportunities existing in the Saccos are ineffective, proper policies should be implemented to enable fair promotions to uplift the employee motivations. For the Saccos to realize the best from its employees, proper training must be provided to enhance productivity/performance. Further, the study recommends that proper working conditions should be provided to the workers in the Saccos to effect on their level of motivation. The main areas of focus should include rules existing in the firm and further strict adherence to the rules. The study finally recommends that the in order to enhance employees motivation and retention, the Saccos should offer increased medical package, revision of benefits scale, staff participation in decision making
| Item Type: | Thesis (Masters) |
|---|---|
| Uncontrolled Keywords: | Non-monetary incentives, Sacoo society staff, Motivation of Fosa Sacco staff, Performance of Sacco staff. |
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Africana |
| Depositing User: | JHI Africa |
| Date Deposited: | 17 Jun 2016 14:06 |
| Last Modified: | 17 Jun 2016 14:06 |
| URI: | http://thesisbank.jhia.ac.ke/id/eprint/506 |
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