EFFECT OF REWARD SYSTEM ON EMPLOYEE PERFORMANCE IN AN ORGANIZATION (A STUDY OF UNILEVER NIGERIA PLC)

The main purpose of this study is to investigate the effect of reward system on employee performance in an organization. A study of Unilever Nigeria PLC. The specific objectives of the study were to investigate the relationship between financial reward and employee performance, lo determine the relationship between non-financial reward and employee performance and to examine the difference between the impact of financial and non-financial rewards on employee performance. The research design used in the study was survey research design. The target population comprised of 403 staffs of all the departments of Unilever Nigeria Ple, Aba. The study sought io collect primary data using a well-structured questionnaire instrument. A sample of 201 respondents was derived using the Taro Yamane formula. In order to investigate the relationship between the dependent and, independent variables, the study analysed data using Pearson Product Moment Correlation (PPMC) and Analysis of Variance (ANOVA). From the study findings, it was established that there is a significant relationship bétween intrinsic (non-financial) reward system and employee performance. The study further established that there is a significant relationship “between extrinsic (financial) reward system on employee performance. The study recommends that Unilever Nigeria Plc, Aba should embrace extrinsic (financial) reward system to appreciate employees more ofien, this will make them improve on performance.