IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH (IJSSMR )

E-ISSN 2545-5303
P-ISSN 2695-2203
VOL. 11 NO. 3 2025
DOI: 10.56201/ijssmr.vol.11no3.2025.pg.1.20

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Employee Reward System and Performance in Selected Deposit Money Banks in Edo North Senatorial District, Edo State, Nigeria

Dr Ugbomhe, U Ugbomhe, Omoaka Abdul

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Abstract

Reward system which consists of financial and non – financial rewards has become essential to an organization in managing employees’ performance. Motivated employees can be a significant factor in organizational success. When employees are motivated to work at higher levels of productivity, the organization as a whole will run more efficiently and is more effective at reaching its goals. The broad objective of this study is to examine reward system and performance of employees’ in an organization. This study adopted a quantitative approach were 132 questionnaire was distributed to the participants selected using convenience sampling. Data obtained analysed using spss software to carry out the correlations and regression analysis. The results show that all variables salary, bonuses, appreciation and health care have a significant impact on employees’ performance. The study recommended amongst other that the human Resource Department (HRD) in conjunction with the senior management should develop innovative bonus plan that also recognizes the efforts of non – managerial staff. This will not only motivate the employees to work harder during the year but will also bring harmony in the organization and encourage team work and overall greater performance of the organization.

keywords:

Reward system, financial reward, non – financial reward, employees’ performance

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