ORGANIZATIONAL STRUCTURE AND EMPLOYEES’ PERFORMANCE (A STUDY OF THE CHARTERED INSTITUTE OF STOCKBROKERS)

Abstract

Organzational structure continues to be essential to the growth of work organization as a tool for improving adequate work coordination and efficient supervision. Based on this, the study concentrated on The Chartered Institute of Stockbrokers’ organizational structure and employees’ performance. The study used a descriptive survey approach and the organizations low, middle and top management staff made up the study’s population. Contingency theory and systems theory were used as the study’s framework. Both stratified sampling and a simple random sampling are used for the investigation. A questionnaire was used for data collection and percentages, frequencies and the spearman correlation coefficient were used for data analysis. Taro Yamane’s formula was used in the study to determine the sample size, which came to 260 participantsaccording to hypothesis 1 the result indicated that there is a strong positive correlation between number of hierarchy and work quality with correlation coefficient “r” being 0.757. Hypothesis 2the result indicated that there is a weak positive correlation between formalization and work efficiency with correlation coefficient “r” being 0.309. Hypothesis 3 the result indicated that there is a moderate positive correlation between the types of organizational structure and high productivity with correlation coefficient “r” being 0.563. Hypothesis 4 the result indicated that there is a strong positive correlation between departmentalization and work quantity with correlation coefficient “r” being 0.815. The study made the following recommendation: The management of Chartered Institute of Stockbrokers should as a matter of urgency spell out the organizational objectives and design the appropriate structure that will allow the organization to achieve all these objectives. It is imperative to ensure that authority, communication, rights and 7duties of Chartered Institute of Stockbrokers are well arranged in order of hierarchy as this will pave way for demarcation of roles, power and responsibilities for the organization to effectively achieve its objectives. Additionally, Like many work organizations in Nigeria, the management of Chartered Institute of Stockbrokers should lay much emphasis on hierarchy of authority in order to give room for good reporting system, free flow of communication, position recognition and role performance for proper co-ordination and planning of individual and collective tasks.