Translate this page

impact of reward system on organisational performance in nigeria ...

IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS



This research project material is available: IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS



Download Complete Research Project Material on IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS



Project Category:
Type: Project Topics | Project Topics and Materials | List of Project Topics | Research Project Materials | Journals | Thesis | Articles | Online Project Materials | Business Plan | Final year project topic| Format: Ms Word| Attribute: Documentation Only| Pages: 92 Pages| Chapters: Complete Research work from Chapter 1 to 5; All chapters | Price: ₦ 5,000.00



Call or whatsapp: +2347063298784 or email: allprojectmaterials.com

Download Post (MsWord)


Download Post (PDF)


Download complete Chapters



IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS



CHAPTER ONE

INTRODUCTION

1.1     Background to the Study

It is the concern of organizations all over the world on effective human capital strategies to enhance their productivity. It is clear that employee’s productivity in the expanding organization is a key factor in organization performance. Employees, technically known as human resources in modern organizations, are rightly considered as the most important assets for banking industry success (Ong and Teh, 2012). In developed countries such as USA, JAPAN, UK and Germany organizations 2 recognize employees as the important asset that needs high consideration in promotion (Lawler and Worley, 2006).

The rationale behind the use of rewards to employees is that motivated employees become satisfied in terms of fulfilling their wants, both financial and non-financial. Failure to do so, employees will be tempted to leave the organization. (Azasu, 2009). On one hand, employees prefer receiving intrinsic rewards in terms of praise and recognition for certain work accomplishments, while other employees are happy with extrinsic reward in terms of salaries, bonus and incentive offered to employees (Lawler, 2008, Sajuyigbe, Bosede and Adeyemi, 2013). In developing countries such as China, India and Thailand also employees reward is one of highly demanded factors in commercial banking that thought for influencing organization performance. One of the most important factors in rewarding employees for organization performance is through recognition and appreciation (Ajila and Abiloa, 2004).

A considerable setup for reward and compensation structure can highly enhance the profitability and effectiveness of an organization. The productive level of a staff or work force group could always be influenced by compensation structure, organization that have a good performance management will have many advantages such as increased self-esteem, clear mind regarding their organizational goals, increased motivational and others (Allen and Kilmann, 2001:110). Managing employees’ reward appropriately is an important factor as a return for their contributions or performance to organization. According to Adam Equity Theory (1963), less reward may result to the decreasing of employees’ performance such as high number of absenteeism, as well as lack of interest in doing task that is not included in their job description. In other word calculative in whatever task given to them, not focus on their job which is also the decreasing resulted in job quality. The theory also propagate that the reduction in employees’ performance could happen whenever they felt that their contributions were not fairly rewarded. In other words, rewards can influence employees’ performance. Employer or organization should reward the positive performance. Reward will motivate the employees and 3 when the employee motivation increased, it’s also will increase the employee performance. In addition, employee performance also can be enhanced through a continuous and interactive process to help departments and teams achieve business goals and to help employees to improve their performance. Increased in employees performances will increase the organization performance. The compensation structure that is developed from a performance management model that is deeply dedicated to identifying and rewarding performance and subsequently at a reasonable level reprimand poor performance could trigger an organization culture that will encourage staff to put in their best as they see a clear relationship between performance and reward.

It is important to note that each compensation policy a firm decides to employ has related cost implication. Efficient consideration and management of cost implication of compensation policy is vital to the growth and survival of firms. One of the problems identified in the Nigerian banking industry is the staff compensation policy used by banks to pay their staff. Some banks have adopted a model that ensures that each staff adds financial value to the organization by assigning varying degrees of business targets to staff according to their ranks, irrespective of their department. But it was observed that most banks, have not attached necessary targets to their non-marketing staff and have in turn suffered high staff cost of retaining large number of unproductive staff, thereby resulting to persistent loss making by most branches.

1.2     Statement of the Problem

Despite government relentless efforts to make banks in Nigeria very sound and stable. Most banks still have Poor reward system. The salaries of executives and senior staff members of the banks are too large for the present income generated by banks to sustain and usually their salaries are not usually tied to direct performance target and in some banks no targets are assigned to such outrageous salaries. The aggregate of these salaries engulf most income made by the banks as the task of this group of staff do not add any form of financial value that commensurate to their pay. They are rated by group performances rather than by individual performance contribution. The present compensation model in use in banks is toxic to the health of the bank. There is a need for senior staff pay cut or assignment of business targets that will at least justify their monthly salaries, or even implemented the duo to revert the present status. Another problem is lack of effective performance Management Model. At this point in time in the banking industry where every kobo is important, it is apparent that banks need to operate a performance model that will energize the staff to work very hard to get businesses for the banks. But it is observed that most banks lack effective staff performance monitoring and measurement system-a performance measurement system which is unbiased i.e that gives more to where income is coming from. The systems in operation in various banks reveal that laggards take the lion share of income as salaries, the researcher observe all this problems and decided to make the aim of this research the impact of reward system on organizational performance in Nigeria banks, using First Bank (FBN) Otta, as a case study.

Citation - Reference

All Project Materials Inc. (2020). IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS. Available at: https://researchcub.info/department/paper-7421.html. [Accessed: ].

IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS


Delivery Assurance: This Project material is delivered within 15-30 Minutes. Click below to download complete material.


Download Complete Project Material

Call: +2347063298784

Hire a Writer

Department

Search Word Tags:


A Review on impact of reward system on organisational performance in nigeria banks, project, material, impact, research journals and thesis, researchcub.info, accounting project topics.
Despite government relentless efforts to make banks in Nigeria very sound and stable. Most banks still have Poor reward system. The salaries of executives and senior staff members of the banks are too large for the present income generated by banks to sustain and usually their salaries are not usually tied to direct performance target and in some banks no targets are assigned to such outrageous salaries. The aggregate of these salaries engulf most income made by the banks as the task of this group of staff do not add any form of financial value that commensurate to their pay. They are rated by group performances rather than by individual performance contribution. The present compensation model in use in banks is toxic to the health of the bank. There is a need for senior staff pay cut or assignment of business targets that will at least justify their monthly salaries, or even implemented the duo to revert the present status. Another problem is lack of effective performance Management Model. At this point in time in the banking industry where every kobo is important, it is apparent that banks need to operate a performance model that will energize the staff to work very hard to get businesses for the banks. But it is observed that most banks lack effective staff performance monitoring and measurement system-a performance measurement system which is unbiased i.e that gives more to where income is coming from. The systems in operation in various banks reveal that laggards take th.. Click here for more

IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS - Research Journals and Thesis - Researchcub.info

Excellent and Professional research project topics, ideas and materials Website - researchcub.info

Undergraduate Project Topics, economics project topics, marketing project topics, business administration project topics, engineering project topics, computer science project topics, banking & finance project topics, education project topics, law project topics, sciences project topics, public administration project topics, political science project topics, mathematics project topics, medical science project topics, mass communication project topics, research projects, geology project topics, marketing project topics, agriculture project topics, Browse Thousands of Final Year Project Topics, hire a writer, Research Works and Materials, Project topics and materials in Nigeria, Undergraduate Project Topics, Research Works and Materials, research topics, research project materials, complete project materials, computer science project material, free project topics, complete projects, accounting topics, small business topics, entrepreneurship topics, project materials, Nigerian undergraduate projects, business administration projects, computer science topics and projects, MBA Nigerian project topics, human resources, small businesses, entrepreneurship projects, economics projects, impacts projects, effect projects, university projects, polytechnic projects, investigate projects, political science projects, mass communication projects, project topics, human resource projects, education projects, French topics, project analysis, French projects, project tips, project abstract, project proposals, project bibliography, project reference, project seminar, forex, TSA, treasury single account, currency, naira, devaluation, undergraduate projects, final project research, marketing project topics, statistics project topics, mathematics project topics, statistics, mathematics, research projects, project thesis, labour force theses, NCE, OND, HND, BTECH, BSC, MBA, MSC, English projects, linguistic project topics, Free Project topics and materials in Nigeria, research topics, reseach project materials, computer science project material, free, complete, accounting topics, small business topics, materials, nigeria projects, business administration projects, computer science topics and projects, MBA nigeria project topics, human resources, small business, entrepreneurship projects, economics projects, impact projects, effects projects, training, budgets, ghana, university, polytechnic, browse Free project materials and topics in Nigeria, accounting and finance project materials, business administration project materials and topics, human resources, entrepreneurship, computer science and engineering project materials and topics, Accounting project topics, Accounting project topics and materials, Agricultural Economics Project Topics and Materials, Agricultural Science Projects topics and materials, All Project topics and materials, Architecture Project topics and materials, Aviation project topics and materials, Banking & Finance Projects topics and materials, Biology project and materials, Building project topics and materials, Business Administration & Management Projects topics and materials, Chemical Engineering Project Topics and materials, Civil Engineering Projects topics and materials, Communication & mass communication art project topics and materials, Computer Engineering Project Topics and materials, Computer Science Projects topics and materials, Criminology project topics and materials, Economics Research Projects topics and materials, Education Project Topics and Materials, Electrical Engineering Projects and materials, English Education & English Language Project topics and materials, Food Science project topics and materials, Geology Project Topics and materials, Guidance Counseling Project Topics and materials, History project topics and materials, Home Economics Project Topics and Materials, Human Resource Projects topics and Materials, Industrial Chemistry Projects topics and materials, Insurance Projects topics and materials, Law project topics and materials, Library and information science project topics and materials, Marine and Transport management project topics and materials, Marketing Projects topics and materials, Mathematics project topics and materials, Medical Sciences Project Topics and materials, Microbiology project topics and materials, Nursing and Midwifery project topics, Nursing and Midwifery project topics and materials, Optometry or nursing project topics and materials, Petroleum Engineering project topics and materials, Pharmacy project topics and materials, Philosophy project topics and materials, Photography project topics and materials, Physical and Health Education project topics and materials, Physiology project topics and materials, Political science project topics and materials, Project topics and materials, Psychology project topics and materials, Random project, Religious and Cultural Studies Project Topics and Materials, Sociology and Anthropology Project topics and materials, Sociology Project Topics and materials, Tourism project topics and materials, Vocational education project topics and materials IMPACT OF REWARD SYSTEM ON ORGANISATIONAL PERFORMANCE IN NIGERIA BANKS-project- material- impact- Research Journals and Thesis | Researchcub.info