Organizational Reward System And Its Effect On Staff Productivity: A Study Of Selected Deposit Money Banks.

ABSTRACT

This research work investigated the Organizational Reward System and Its Effect on Staff

Productivity: A Study of Selected Deposit Money Banks. The study was necessitated by the

importance of reward system in enhancing employee performance. The work aimed at

determining the effect of reward system on employee productivity. The study made use of

secondary data in its analysis. Three explanatory variables (salaries and wages, pension

contribution and other staff benefits /allowances) were specified and were used to establish a

relationship with the dependent variable (profit before tax) using multiple regression tool. The

study found that salaries and wages, pension and other allowances have direct relationship with

profit before tax however only the relationship between salaries and wages and profit before tax

is not significant. Based on the above finding the study made some recommendations which

include: the organization should get to know their employees well so that they can employ the

right motivational strategy; Organizations should therefore increase their pension contribution as

well as increase the caliber of staff that benefits from it as this will motivate employees and

improve productivity.

KEYWORDS

Organization: A social unit of people that is structured and managed to meet a need or to pursue

collective goals.

Reward: A thing given in recognition of service, effort or achievement.

Productivity: Is an assessment of the efficiency of a worker or group of workers.