Broadbanding and Employee Performance in the Nigerian Deposit Money Bank
Keywords:
Broad banding, Flexible compensation, Employee performance, Incentive policies, Skill-based pay, Employee motivationAbstract
The implementation of broadband in Nigerian deposit money banks presents both challenges and opportunities for enhancing employee performance. While broadbanding offers flexibility in pay decisions and rewards to motivate employees, it may also result in inconsistent pay progression, which can potentially lower job satisfaction. The study seeks to examine the relationship between broadbanding and employee performance. Specifically assess the impact of skill-based pay and incentive policies on employee productivity and motivation. Using a survey research design and a structured questionnaire, data were gathered from employees at Access Bank Nigeria Plc., Kwara State and analysed with SPSS version 26. The results showed a strong positive correlation between skill-based pay and employee productivity, and incentive policies and employee motivation. The findings emphasise the importance of recognising and rewarding employees for handling complex tasks and developing skills, which are key to maintaining high levels of satisfaction and motivation. The study concludes that when broadband is managed effectively, with clear compensation policies, it can enhance employee motivation and induce productivity in Nigerian banks. It recommends offering training, regularly evaluating job complexity, and ensuring transparent pay structures to promote organisational success.
References
Ajayi, T. (2023). The evolution of employee compensation models in the Nigerian banking sector. Nigerian Financial Review, 19(4), 123-136.
Akanbi, A., & Adeyemo, S. (2023). Workplace compensation strategies and their impacts on employee retention in Nigerian banks. Journal of Banking & Finance, 15(2), 67-82.
Armstrong, M., & Taylor, S. (2022). Handbook of human resource management practice (16th ed.). Kogan Page.
Blau, P. M. (1964). Exchange and power in social life. John Wiley & Sons.
Brown, C. (2020). Skill-based pay: Implementation and outcomes in modern organizations. Journal of Human Resource Management, 58(3), 115-129.
Cappelli, P., & Tavis, A. (2019). The performance management revolution. Harvard Business
Colquitt, J. A., & Dapson, A. H. (2021). On the dimensionality of organizational justice: A construct validation of a measure. Journal of Applied Psychology.
Deci, E. L., & Ryan, R. M. (2000). Self-determination theory and the facilitation of intrinsic motivation, social development, and well-being. American Psychologist, 55(1), 68–78.
Dessler, G. (2021). Human resource management (17th ed.). Pearson.
Falaiye, S. (2023). The Impacts of Inflation on Employee Compensation in Nigeria. Financial Journal of West Africa, 12(1), 30-45.
Gerhart, B., & Fang, M. (2014). Pay for (individual) performance: Issues, claims, evidence and the role of sorting effects. Human Resource Management Review, 24(1), 41-52.
Gomez-Mejia, L., Balkin, D., & Cardy, R. (2021). Managing human resources (10th ed.).
Griffin, R. W. (2022). Management (14th ed.). Cengage Learning.
Gupta, N., & Shaw, J. D. (2021). Pay Fairness and Employee Outcomes: Explanations, Contingencies, and Implications. Journal of Organizational Behavior, 42(2), 188-206.
Gustafsson, A., Johnson, M. D., & Roos, I. (2005). The effects of customer satisfaction on customer retention: A critical review. Journal of Marketing Research, 42(3), 1-14.
Higgins, C. A., & Kram, K. E. (2001). Reconceptualizing mentoring at work: A developmental network perspective. The Academy of Management Review, 26(2), 264-288.
Kulik, C. T., & Bainbridge, H. T. (2021). Broadbanding: A Flexible Approach to Compensation in the Modern Workplace. Academy of Management Perspectives, 35(3), 300-312.
Locke, E. A., & Latham, G. P. (2002). Building a Practically Useful Theory of Goal Setting and Looking back and looking forward. Journal of Applied Psychology, 102(3), 403-420.
Martinez, A. (2023). Human capital trends: A deep dive into broadbanding. HR Insights Review, 11(3), 45-58.
Milkovich, G., & Newman, J. (2020). Compensation (13th ed.). McGraw-Hill Education.
Miller, G., & Roberts, M. (2024). Compensation, incentives and employee’s performance. Foundational Human Resource Ethics, 4(6), 71 -94.
Narehan, M. I., & Ashari, H. (2018). Time management skills and academic performance: A study among university students. International Journal of Academic Research in Business and Social Sciences, 8(3), 389-397.
Obasan, T. A., & Afolabi, A. O. (2024). Effect of bank lending on the growth of selected SMEs in Nigeria. International Journal of Research in Business and Social Science (2147-4478), 9(4), 237-243.
Parker, S. K., Morgeson, F. P., & Johns, G. (2017). One Hundred Years of Work Design Research: An Employee Guiding Manual (2nd ed.). Taylour Francis.
PricewaterhouseCoopers, (2022). PwC’s 25th Annual Global CEO Survey. https://www.pwc.com/gx/en/ceo-survey/2022/main/content/downloads/25th_CEO_Survey.pdf
Vroom, V. H. (1964). Work and motivation. Wiley.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Ganiyu Taiwo Oladipo, Olushola Joshua Omolekan, Abiodun Peter Abogunrin, Bashir Abdulazeez
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
The author fully assumes the content originality and the holograph signature makes him responsible in case of trial.
