EMPLOYEE EMPOWERMENT AND PROFITABILITY OF SELECTED QUOTED CONSTRUCTION COMPANIES IN LAGOS STATE, NIGERIA
Abstract
The construction industry worldwide is always viewed as the life wire of its respective economy and the Nigerian construction industry is no exception to this. Despite the construction management system in most Nigerian construction companies, the sector is characterized by inadequate documentation and ineffectiveness. Besides, the industry has witnessed an unprecedented decline in growth rate levels and a massive deficiency in market share. This could be attributed to the negligence of core professionals in charge of managing resources such as human capital and shallow knowledge about notable professionals in the industry. Therefore, this paper examined the effect of employee empowerment on profitability of selected quoted construction companies in Lagos State, Nigeria. A cross-sectional survey research design was utilized for this study. Primary data was sourced using a structured and self-administered questionnaire. The study population was 6798 (Julius Berger – 1893, RCC – 1387, Arbico – 1226, CCECC -1405, Elalan - 887). The sample size of 364 was determined using the Roasoft Sample Size Calculator. The hypothesis formulated was tested using the simple linear regression analysis. The finding revealed that that there is a positive and significant effect of employee empowerment on profitability of selected quoted construction companies in Lagos State, Nigeria (β = 0.254, t = 4.369, R = 0.220, R2 = 0.048, p < 0.05). The study therefore concluded that employee empowerment plays an important role in influencing performance. The study therefore recommended that construction companies should engage in adequate employee empowerment to improve the productivity level of their organization.
Keywords: Employee Empowerment, Profitability, Construction Companies
CITATION: Adekunle, O, S., & Akpa, V, O. (2021). Employee empowerment and profitability of selected quoted construction companies in Lagos State, Nigeria. The Strategic Journal of Business & Change Management, 8 (2), 621 – 633.
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DOI: http://dx.doi.org/10.61426/sjbcm.v8i2.2021
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