THE IMPACT OF MONITISATION OF FRINGE BENEFITS ON THE PRODUCTIVITY OF WORKERS IN FEDERAL POLYTECHNIC IDAH-KOGI STATE

Abstract

This study sought to investigate the impact of monetization of fringe benefits on the productivity of workers in Federal Polytechnic, Idah. Three hypotheses were formulated to guide the investigation. To validate these hypotheses and the principal research questions of the study, data were collected through primary sources (questionnaire and observation) and secondary sources: textbooks, internet materials, journals, newspapers, and magazines. The data from the questionnaire were subjected to statistical analysis. Results revealed that, although the policy is partially implemented, it has boosted the morale of workers and enhanced job performance through positive change in work attitude. However, the investigation shows that increase in salaries through monitised benefits is not sufficient to meet the basic needs of workers in the face of the rising cost of living. The study also discovered that frustration, fear and anxiety in the polytechnic workforce are due to the retrenchment component of the policy and this has adversely affected workers productivity. Based on these findings, the study recommends, among others, full implementation of the policy in order to harvest the best from the 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 performance.