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Reward management and how its incentives impact the performance of banking industry in Nigeria.

Katto, Victor (2020) Reward management and how its incentives impact the performance of banking industry in Nigeria. Masters thesis, Dublin, National College of Ireland.

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Abstract

The research aims to look at the effects of reward management and incentives on employee’s performance in the financial sector using GT Bank staff in Lagos State, Nigeria as a research focus. To navigate this research work, the subsequent three objectives was proposed to guide the study. First, is to examine intrinsic reward and the performance of employees in GTB. Second, is to evaluate extrinsic reward and the performance employees in GTB. Lastly, to ascertain the relationship between incentive and performance of employees in GTB. In order to achieve these objectives, three research questions and hypotheses were raised. The study adopted survey research design. The population of study of this research is made up of the entire staff of GTB in Lagos and the sample size was 160 respondents. The data collection instrument used for the study collection was the questionnaire. Out of the 160 questionnaires administered, 147 copies were retrieved. The data collected was analyzed using simple percentage and Pearson correlation analytical method to test the hypotheses generated for the study. The study found that employee’s recognition, acknowledgement, and gratitude by the management motivates and improves performance. Prompt and increase in salary affect the productivity of workers positively. It was also discovered that there is a positive relationship between rewards (intrinsic, extrinsic and incentives) and employees’ performance. The study recommendations based on the findings is that organizations should design a well-articulated organization reward culture policy, create incentive-based cash incentives to honor the success of workers over negotiated goals and times across various categories of workers in the organization and a laid down structure indicating how wage/salary raises will be extended to exemplary employees.

KEYWORDS: Reward management; incentives; motivation; performance; employees.

Item Type: Thesis (Masters)
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management > Human Resource Management
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management > Human Resource Management > Performance Management
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management > Human Resource Management > Performance Management > Reward Management
Divisions: School of Business > Master of Arts in Human Resource Management
Depositing User: Dan English
Date Deposited: 02 Feb 2021 10:24
Last Modified: 02 Feb 2021 10:24
URI: http://norma.ncirl.ie/id/eprint/4607

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