THE EFFECTS OF JOB SATISFACTION ON THE PERFORMANCE OF STAFFS IN MICRO FINANCE INSTITUTIONS IN BAMENDA
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Many microfinance institutions in Bamenda today are faced with the problem of low output and performance of workers, and this problem could likely be linked directly to poor worker motivation and job satisfaction in these institutions. As a result, they are forced to devise strategies to keep their workers happy in a bid to improve their performance, hence the output of the company. This piece of work is titled “The Effects of Job Satisfaction on the Performance of Staffs in Micro Finance Institutions in Bamenda” the purpose of this study was to investigate how job satisfaction affects the performance of workers. The primary data was obtained through the use of questionnaires administered and interviews of workers of microfinance institutions on a sample size of 50 workers in the various institutions. Secondary data was collected from the internet and library. Data collected was analyzed to yield descriptive and inferential statistics, Descriptive statistics was used to analyse demographic data. While inferential statistics was used to analyse the multiple linear regression and the method of estimation was Ordinary Least Squares (OLS) so as to assess the relationship between job satisfaction and the performance of workers and also the strength of both variables respectively using SPSS version 20 to automatically obtain the variables. The finding of the study proves that factors that determine job satisfaction are compensation/pay, promotion, relationship with co-workers and salary. Thus the null hypothesis was rejected in favour of the alternative hypothesis. From the results obtained, it was noticed that job satisfaction plays a major role on employees’ performance at microfinance institutions in Bamenda, For this reason, I recommend that the management of microfinance institutions in Bamenda should derive various means of satisfying its workers through compensation/pay, promotion and increase of salary.
1.1 Background to the Study
Employee’s state of mind is integral to an organization, which influences productivity and efficiency at the work place. Lack of to work could lead to deficiency at work environment. A spirit of cooperation, commitment and sense of satisfaction within the workplace is crucial to maintain the stability and quality of employees’ productivity (Tella, Ayeni & Popoola, 2007). In order to make employees satisfied and committed to their jobs, a robust and effective is crucially needed at the various departments in an organization. There is a common knowledge globally that; organizations strive on performances of individual employees in achieving their set objectives and goals. To this end, Nimalathasan and Brabele (2010) stated that the satisfaction of employees in an organization is paramount to the performance of the organization as far as recent competitive environment for businesses are concerned.
Studies have shown that there is no concrete definition for job satisfaction however, the most commonly used definition is the one by Locke (1976). According to Locke job satisfaction is the positive emotional state resulting from the appraisal of one’s job. Notwithstanding, the characteristic of the job, a sense of satisfaction may vary across different types of job. That is to say that the interpretation of job satisfaction should include factors such as working condition, salary, rewards, supervision and attitudes of colleague workers influencing job satisfaction (Brady, 2007; Chahal, Chahal, Chowdhary & Jyoti, 2013). For instance, Simatwa (2011) defined job satisfaction as a function which is positively related to the degree to which individual needs are fulfilled in the job place. Nanjamari (2014) also defined job satisfaction to represent or include emotional soundness or clarity and commitments that employees have towards their work. This study adopt the definition by Nanjamari and thus by the same defines job satisfaction as the emotional or physical soundness or clarity and commitments that employees have towards their work.
Herzberg (2008) defined performance at work as the commitment and attitude to work that makes above par or above average. Nanjamari (2014) on the other hand explained performance as the returns to output or returns to work. Since it is, rather the workers at the work place that usually makes the required performance possible, it is important to always make sure the employees are satisfied (Odunlade, 2012). It is very important for workers to be satisfied in order to perform. Meanwhile work performance on the other hand secures the continuity of growth. It is at this end that Odunlade (2012) stated that the opportunity cost of job satisfaction is retrogression, absenteeism, low productivity, high employee turnover and other
organizational difficulties. In this regard, there have been lots of studies in this area to really determine the link between job satisfaction and performance. Though job satisfaction is a construct that is easily defined, the definition cut across the spectrum of factors. Studies in Ghana from different organizations have also shown glimpses of the possibilities of the effect of job satisfaction on an individual‟s ability to perform creditably (Frimpong &Wilson, 2013; PricewaterhouseCoopers, 2015).
1.2 Statement of the Problem
1.3 Research Questions
1.3.1 Main Research Question
What is the effect of job satisfaction on the performance of staffs in Micro Finance Institutions in Bamenda?
1.3.2 Specific Research Questions
1. What is the effect of salary on the performance of staffs in Micro Finance Institutions in Bamenda?
2. How does promotion affect staff performance in Micro Finance institutions in Bamenda?
3. To what extent does bonuses affect the performance of employees in Micro Finance institutions in Bamenda?
1.4 Objectives of the Study
1.4.1 Main Objective
To assess the effect of job satisfaction on the performance of Employees in Micro Finance Institutions in Bamenda.
1.4.2 Specific Objectives
1. To analyse the extend to which salary affect the performance of Employees in Micro Finance institutions in Bamenda.
2. To examine the effect of promotion on the performance of employees in Micro Finance Institutions in Bamenda.
3. To evaluate the effects of bonuses on the performance of employees in Micro Finance institutions in Bamenda.
1.5 RESEARCH HYPOTHESIS
H01: Salary does not have an effect on the performance of employees in Micro Finance institutions in Bamenda.
H02: Promotion does not have an effect on the performance of employees in Micro Finance institutions in Bamenda.
H03: Bonuses does not have an effect on the performance of employees ion Micro Finance institutions in Bamenda,
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