Abstract:
ABSTRACT
This study centres on the Impact of Monetization of Fringe Benefits on the
Productivity of Nigerian Workers with specific focus on the Federal
Polytechnic. Idah. In carrying out the study, three hypotheses were
formulated to guide the researcher. They are briefly stated as follows:
Proper Implementation of the Monetization Policy will lead to positive
change in work attitude, thus, enhancing productivity of workers; there is a
relationship between monetization of fiinge benefits and job satisfaction
among workers in the Federal Polytechnic, Idah and finally, increase in
salaries through monetized benefits is not sufficient to meet the basic needs
ofworkers. To validate these hypotheses and the principal research
questions set out in the statement of the problem, data were generated
through primary sources (like questionnaire, oral interview and observations)
and secondary sources such as text books, internet materials, journals,
newspapers, magazines. The data -From the questionnaire were subjected to
statistical analysis. The analysis revealed among other things that although
the policy is partially implemented, it has boosted the morale of workers and
enhanced job performance through positive change in work attitude.
Furthermore, the study shows that increase in salaries through monetized
benefits is not sufficient to meet the basic needs of workers in the face of
rising cost of living. The study also discovered that the incidence of
frustration, fear and anxiety in the Polytechnic workforce is due to the
retrenchment component of the policy and this is bound to have a negative
effect on workers' productivity. The study recommended among other
things the full implementation of the policy in order to harvest the best from
workers; adoption of measures to boost morale of workers since this is
necessary to retain able and competent employees; the implementation of
reform measures that have human face; the use of more financial rewards
which should be tied to performance and regular promotions, job security,
regular payment of salaries, good working relationship, better conditions of
service to boost job satisfaction among workers and improve their
performancelprductivity .
