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EVALUATION OF INCENTIVE SCHEMES ON LABOUR PRODUCTION IN NIGERIA CONSTRUCTION INDUSTRY

Format: MS WORD  |  Chapter: 1-5  |  Pages: 77  |  1000 Users found this project useful  |  Price NGN3,000

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EVALUATION OF INCENTIVE SCHEMES ON LABOUR PRODUCTION IN NIGERIA CONSTRUCTION INDUSTRY

CHAPTER ONE

INTRODUCTION

1.1 Background

Performance has been an essential contributor to corporate success. This is as a result of its direct translation into cost savings and profitability. Performance has also been a key to long-term growth and sustainable improvement and when associated with economic growth and development generates non-inflationary increases in wages and salaries (Mojahed, 2005). The construction industry generally plays a vital role in a national economy due to the usage of its products such as roads, buildings and dams for the production of goods and services. In spite of the immense size and significance of the construction industry to the economies of most nations, its productivity is one of the controversial and least understood factors (Haskell, 2004).

In the construction industry, site workers account for 40% of direct capital cost of large construction projects and there is the need to maximise the productivity of human resources (Thomas et al., 2004). More so 30% to 50% of workers time is spent directly on the work and, hence, there is the need for proper utilisation.

In Nigeria’s construction industry for instance, companies are currently applying various non-financial incentive schemes aimed at improving operatives’ productivity (Olabosipo, 2004). Considering the fact that the construction industry in Nigeria  is quite similar to that of Nigeria, it can be concluded that the introduction of a non-financial incentive will contribute to worker incentive  in Nigeria ian construction industry. This will, in effect, enhance workers output and the overall performance within the construction industry and further contribute to the national economy.

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EVALUATION OF INCENTIVE SCHEMES ON LABOUR PRODUCTION IN NIGERIA CONSTRUCTION INDUSTRY

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