ORGANIZATIONAL REWARD SYSTEM AND EMPLOYEE PERFORMANCE: A STUDY OF SELECTED BANKS IN IKOM

The central purpose ofthis study was to investigate the relationship between reward system and employee performance: A study ofselected banks in Ikom. The specific objectives were to examine the relationship between monetary rewards and employee adaptive performance, to investigate the relationship between non-monetary rewards and employee task performance and to examine the relationship between promotions/recognition and employee contextual performance in the selected banks at IKom. This study adopted a descriptive research design. The population ofthis study comprised of72 top management, middle management and lower level management employees ofFirst bank Plc, Access bank Plc and Zenith bank Plc branches in Ikom. Stratified random sampling technique was used to ensure that all the departments and levels are represented To arrive at the sample size of this study, the Taro Yamane formula was employed. The primary data was obtained using questionnaire. To investigate the relationship between the dependent and independent variables, the Pearson product moment correlation (correlation coefficient) was used. The study found out that there is a significant relationship between monetary rewards and employee adaptive performance, the study revealed that there is a significant relationship between non-monetary rewards and employee task performance. It was also revealed that there is a significant relationship between promotions/recognition and employee contextual performance. Based on the findings of this study, the researcher recommended that management should adopt performance-basedpay, in which employees are compensated on the basis of their performance as an element of organizational pay structure, as this would help in motivating employees to commit much of their efforts on improving their individual output, behaviour, and performance.