Remuneration of Workforce Productivity In First Bank

This study examines the remuneration workers productivity in Nigeria's banking sector through a quantitative analysis of 20 senior executives from the nation's top 10 Deposit Money Banks. The research evaluates three compensation mechanisms performance-based bonuses (mean effectiveness rating=4.5/5), base salaries (4.05), and stock options (3.7) while examining moderating effects of organizational, regulatory, and economic factors. Statistical analysis reveals a robust hierarchy of incentive effectiveness, with bonuses showing the strongest correlation with productivity (r=0.81, p<0.01), followed by salaries (r=0.72) and stock options (r=0.65). Organizational culture emerges as a powerful positive moderator (β=0.46, p<0.01), while regulatory constraints (β=- 0.31) and economic volatility (β=-0.28) significantly diminish Remuneration effectiveness. The regression model explains 85% of productivity variance (R²=0.85), with performance bonuses demonstrating the greatest predictive power (β=0.53). These findings validate key propositions from Expectancy Theory and Agency Theory while highlighting the critical role of Nigeria's institutional context. The study contributes to compensation literature by quantifying Remuneration structure effectiveness in an African banking context, demonstrating culture's amplifying effect on incentives, and revealing how macroeconomic and regulatory factors constrain compensation efficacy. Practical implications emphasize the need for performance-driven bonus structures with transparent metrics, culture-Remuneration alignment strategies, inflation-adjusted compensation components, and balanced regulatory approaches that preserve motivational potential. The research provides both theoretical insights and practical guidance for enhancing executive productivity in Nigeria's dynamic banking environment, with relevance for similar emerging markets facing institutional challenges.