Reward System and Organizational Performance
Author(s)
Dr. Okwuise, U.Y , Ndudi, Ejimofor Francis ,
Download Full PDF Pages: 20-31 | Views: 176 | Downloads: 56 | DOI: 10.5281/zenodo.8108561
Abstract
The study examined reward systems and organizational performance. This was done in the measures of reward system, compensation policy, and performance recognition for the organization's performance at Delta State University. Responses from respondents were retrieved with the aid of a 5-point Likert scale questionnaire. A survey research design was employed in this study, and the stratified random sampling method was also adopted to administer 367 staff members from Delta State University. The questionnaire was coded with the aid of a spread sheet, and the respondents profiles were analyzed manually using a simple percentage approach. The research questions were analyzed with the aid of descriptive statistics, and the hypotheses of the study were tested using multiple regression analysis with the aid of SPSS. The results from the analysis revealed that the dimensions of reward systems (compensation policy and performance recognition) in this study have significant and positive effects on organizational performance. The study concludes that a good reward system provides positive assurance for fulfilling the needs and wants of employees in the workplace. It generally has an optimistic attitude behind it, and it is generally given to have good leverage to satisfy the psychological requirements of employees. The goal of the study was to make a recommendation about how employee recognition, when considered from formal, informal, and day-to-day perspectives, could inspire staff to ensure high performance in tertiary institutions. Therefore, it is advised that the management of tertiary institutions devote trustworthy resources to the development and implementation of employee recognition programs in order to produce the desired results. The study also recommends that management view employee recognition as a significant investment rather than one of the pricey and unnecessary practices that offer little value to tertiary institutions.
Keywords
Compensation Employee, Development, Management, Performance, Recognition and Rewards.
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