Employee Engagement Dimensions and Organizational Performance of Selected Microfinance Banks in Abeokuta, Ogun State (Published)
Employee engagement plays a crucial role in boosting organizational performance, but there’s still a lack of solid evidence on how its various dimensions impact the financial, operational, and market performance of Microfinance Banks in Nigeria. This study delved into the connections between physical, emotional, and cognitive engagement and performance at selected Microfinance Banks in Abeokuta, Ogun State. We used a descriptive survey design, distributing 90 questionnaires to staff and successfully retrieving 80, which gives us an impressive response rate of 88.9%. We analyzed the data using a 5-point Likert scale and employed descriptive statistics along with multiple regression in SPSS v26. The findings revealed high levels of engagement: emotional engagement topped the charts with a mean of 3.83, followed closely by physical engagement at 3.73, and cognitive engagement at 3.61. The regression analysis indicated that physical engagement had a significant impact on financial performance, with β = .302, p = .007, Adj. R² = .372. When it came to operational performance, physical engagement emerged as the strongest predictor, β = .386, p = .001, while emotional engagement also played a significant role, β = .245, p = .033, Adj. R² = .315. For market performance, emotional engagement was the standout predictor, β = .421, p < .001, with cognitive engagement also showing significance, β = .208, p = .025, Adj. R² = .288. All null hypotheses were rejected. The study concludes that these three dimensions of engagement are distinct predictors of performance. Emotional engagement is key for driving financial and market results, while physical engagement is essential for operational success. It’s recommended that Microfinance Banks implement a comprehensive strategy: promote staff wellness to boost physical energy, enhance mission alignment to foster emotional connection, and offer training to sharpen cognitive focus, all aimed at improving competitiveness.
Keywords: Cognitive Engagement, Employee Engagement, Financial Performance, Market Performance, Microfinance Banks, emotional engagement, operational performance, physical engagement
Effect of Credit Management Systems on Loan Recovery Efforts of Microfinance Banks in Akwa Ibom State (Published)
This study set out to ascertain the effect of credit management techniques on loan recovery efforts by microfinance banks. To guide the study, 3 objectives specific objectives, 3 research questions and three null hypotheses tested at 0.05 alpha levels were formulated. The study covers all microfinance companies operating in Akwa Ibom State. A descriptive survey research design was employed for the study. The population was 85 operations and marketers in microfinance banks in Akwa Ibom State that have been in existence from 2014 to 2017. The sample size was 60 and the stratified random sampling technique was employed. The research instrument used for the study was a researcher- made questionnaire tagged “Credit Management and Loan Recovery Questionnaire” (CMLRQ). The instrument developed by the researcher was face and content validated by three experts in the Faculty of Social sciences, Akwa Ibom State University. All corrections and inputs were built in to the final version of the instrument. The reliability coefficient of the instrument was determined using Cronbach alpha method after the instrument was trial-tested on 20 respondents who were part of the population but not part of the sample. The result showed reliability co-efficient of 0.78. The data generated was analyzed using regression analysis to answer the research questions and to test the null hypotheses at .05 alpha level. It was concluded that Credit appraisal, credit risk control and collection policy were found to be very important in influencing loan recovery. It was recommended among others that Microfinance banks should ensure that credit appraisal is carried out by the technical people who are experienced and competent credit officer in order to stem out those with intolerable credit risk at the earliest possible opportunity.
Keywords: Akwa Ibom State, Microfinance Banks, credit management systems, loan recovery