'American Research Institute for Policy Development'
Abstract
The concept of motivation in the field of management is as old as human race and it
is seen as major strategy in managing employees. Organizations thrive to adopt
various strategies in satisfying their employees in order to retain them and be
relevant in the industry where they operate. This study explores the relationship
between motivation (salary, promotion, incentives, award, relationships, & benefits);
employee’ retention; and job satisfaction in the Nigerian banking industry. The
survey method was adopted, and the primary data was obtained through the self administered
questionnaire. The valid three hundred and seventy six (376)
respondents were analyzed by AMOS 21. Structural equation model (SEM) analysis
results shows that salary and promotion have strong positive implications for
employee retention. Similarly, incentives and benefits also have positive effects on
job satisfaction. While unexpectedly, award and relationships have negative effects
on job satisfaction. This study tends to assist managers and decision makers in
selecting the appropriate motivating factors in order to retain and satisfy their
employees