Conference Paper

Employee Motivational Factors and Organisational Development in Selected Deposit Money Banks in Ilaro, Ogun State

Abstract: This study was conducted to experimentally evaluate the relationship between employee motivational elements and organizational development in the banking business. The study used a survey research design, and the population included employees from five (5) selected deposit money banks in Ilaro, Ogun State, for a total of 133 employees. The complete population was used as the sample size to ensure that the findings could be effectively generalized. Data was collected using a standardized questionnaire. The acquired data were examined using descriptive statistics, and inferential statistics (regression) were used to test the study's hypotheses. The findings of the study revealed that monetary motivational factors have a positive and significant impact on organisational development (β= .342; p<0.05) and non-monetary motivational factors also have a positive and significant impact on organisational development (β= .647; p<0.05). The findings also shows that when these two factors are combined, they have a positive and significant impact on organisational development (F= 158.822; p<0.05). The study therefore concludes that employee motivational factors have significant impact on organisational development in the selected deposit money banks. It was recommended that the management of the selected deposit money banks should prioritize the establishment of competitive remuneration packages, including salaries, bonuses, and other financial incentives. Keywords: Employee, Monetary, Motivation, Non-monetary, Organisational development.