Staff Welfare and Employees Performance in Zenith Bank Branches, Abuja Municipal Area Council (AMAC) of the Federal Capital Territory, Nigeria

Abstract

Staff welfare packages enhance staff and organizational productivity. Staff welfare can be in tangible and intangible forms including medical insurance, accommodation, and transportation, among others. Despite the benefits of staff welfare over the year, some organizations are yet to adopt and promote them to enhance employee wellbeing and efficiency. This study seeks to understand the effects of staff welfare benefits on employee performance. The major objective of this study is to examine the effect of staff welfare on the performance of employees in Zenith Bank branches in the Abuja Municipal Area Council (AMAC), Federal Capital Territory (FCT) of Nigeria. In line with the study objectives, two hypotheses were formulated. Data was collected through questionnaires and analyzed using descriptive statistics, correlation and multiple regression techniques on excel sheet and SPSS software respectively. The population for this study was three hundred and eighty-four (384). Findings from the study showed that monetary welfare benefits have positive and significant effects on employees’ performance in Zenith Bank branches in Abuja Municipal Area Council, FCT. It was also found that non-monetary welfare benefits have positive but insignificant effect on employee performance in Zenith Bank branches in Abuja Municipal Area Council, FCT. The study concluded that monetary welfare benefits have a positive and significant effect on employee’s performance while non-monetary welfare benefits have a positive and insignificant effect on employee’s performance in Zenith Bank branches in Abuja Municipal Area Council, FCT. The following were recommended: early salary payment and wages to employees; organizations should make available other financial motivators as they have proven to be crucial in maximizing employee’s performance; employers should be more strategic and incorporate non-monetary welfare benefits such as housing schemes, health insurance, and flexible working hours and healthy staff welfare policies to give the employees a sense of belonging.