Evaluation of the impact of Open Book Management on employee performance in selected manufacturing firms in Enugu State, Nigeria
AbstractThis study examined the impact of Open Book Management employeesâ€™
Performance in Manufacturing Firms in Enugu State, Nigeria. Open
book management is based on the principle that managers and
employees who know and understand financial performance and goals
and share a stake in organizational success are more apt to be highly
effective and motivated in meeting those goals. Specifically, the study
sought to: determine the extent confidence and trust affect employees
commitment and determine the influence of equitable reward system on
employee morale. The study adopted the survey research design. The
population of the study was a total of 1,276 staff of the five selected
manufacturing firms in Enugu State, Nigeria. The sample size 125 was
obtained from the population using Evans Morris formula at 95%
confidence level and 5% margin of error. Data were collected using
the questionnaire research instrument and interview which was
designed in a 5-point Likert scale and manually administered to the
respondents. The hypotheses were tested using regression analysis and
Chi-Square (X2). The findings indicate that Confidence and Trust had
positive influence on Employee Commitment(r = 0.876, p < 0.05); Equitable reward system significantly influenced employee morale (X2
= 127.933).The study recommends Confidence and trust should be built
between the employers and the employees; and an efficient equitable
reward system should be designed and implemented by management in
the practice of open book management. The study concludes that open
book management processes, leads to low employee turnover and high
levels of customer satisfaction which in turn increases the profitability
of the organization.
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