| Title : | Impact of reward on employee performance in Nepalese commercial banks | | Material Type: | printed text | | Authors: | Saluna Shrestha, Author | | Publication Date: | 2017 | | Pagination: | 97p. | | Size: | GRP/Thesis | | Accompanying material: | 9/B | | Languages : | English | | Descriptors: | Reward on employee performance
Employee performance
| | Class number: | 658.3125 | | Abstract: | Reward systems are often used within organizations as a key management tool that can affect a firm’s effectiveness by influencing employees, behavior and motivating employee at their work place. Banking sector business in Nepal is most competitive sector where employees’ performance is the only way out to beat the competition. Banks are the most important institutions for the development of the financial sector, economy and the country as a whole. Reward can increase worker performance and the reward can improve employee performance in the best manner.
Employee will give their maximum when the workers have a feeling or trust that their efforts will be rewarded by the management. Financial rewards means pay-for-performance such as bonus, promotion, compensation, gratuities etc. Non financial rewards are non monetary/ non cash and it is a social recognition such as acknowledgement, certificate and genuine appreciation etc. (Neckermann and Kosfelf, 2008). According to Fay and Thompson (2001) reward system have a critical role in determining the organization’s ability to attract high potential employees and to retain high performing employees and to retain high performing employees to achieve greater levels of retain high performing employees to achieve greater levels of quality and performance.
According to Baratton (1999) rewards refer to all form of financial returns and tangible service and benefits and employee receives as part of an employment relationship. “Reward is the benefits that arise from performing a task, rendering a service or discharging a responsibility” (Colin, 1995). Ajila and Abiola (2004) revealed that reward package can influence on employee performance. Base on their findings they concluded that reward system helps to increase employee performance by enhancing employee skills, knowledge and abilities in order to achieve organizational objectives.
The main purpose of the study is to analyze the effect of reward practice on employee performance of Nepalese commercial banks. The study has the following specific objectives: to analyze the perception of employees on reward practices in Nepalese commercial banks, to examine the relationship of compensation, promotion, bonus, recognition and empowerment on employee productivity and job quality in Nepalese commercial banks, to find out the most important factor affecting employee productivity and job quality in Nepalese commercial bank.
The primary source of data is used to assess the opinion of employee with respect to reward practices on employee performance in Nepalese commercial banks. The survey is based on 150 respondents from 15 commercial banks in Nepal. The questions were asked in the Likert scale questions. The Likert scale questions of different variables as compensation, promotion, bonus, recognition, empowerment, employee productivity and job quality were measured in 5 point scale. For the fact finding of the study primary data was analyzed by using percentage frequency distribution and methods such as descriptive statistics, correlation analysis and regression analysis.
The result of the study shows that there is positive correlation between rewards practices on employee productivity and job quality in Nepalese commercial banks. The impact of compensation, promotion, bonus, recognition and empowerment are positively significant with employee productivity. The impact of compensation, promotion, bonus, recognition and empowerment are positively significant with job quality.
Promotion has the highest weighted mean value which reveals that it is followed effectively in Nepalese commercial banks. Likewise recognition has lowest weighted mean value which indicates that recognition practices are not effectively followed in Nepalese commercial banks. The beta coefficient of compensation, promotion, bonus, recognition and empowerment are positive when regressed on employee productivity. In the same way, beta coefficient of compensation, promotion, bonus, recognition and empowerment are positive when regressed on job quality. Recommendations are given on the basis of the finding of the study. The major conclusions of the study are that all the variables of rewards have positive relation with employee productivity and job quality. If the Nepalese commercial bank has good reward system in the form of compensation, promotion, bonus, recognition and empowerment it will tends to increase employee productivity and job quality. The more the bank focuses on the variable of the reward practice it leads to motivate the employee towards their job and the bank.
|
Impact of reward on employee performance in Nepalese commercial banks [printed text] / Saluna Shrestha, Author . - 2017 . - 97p. ; GRP/Thesis + 9/B. Languages : English | Descriptors: | Reward on employee performance
Employee performance
| | Class number: | 658.3125 | | Abstract: | Reward systems are often used within organizations as a key management tool that can affect a firm’s effectiveness by influencing employees, behavior and motivating employee at their work place. Banking sector business in Nepal is most competitive sector where employees’ performance is the only way out to beat the competition. Banks are the most important institutions for the development of the financial sector, economy and the country as a whole. Reward can increase worker performance and the reward can improve employee performance in the best manner.
Employee will give their maximum when the workers have a feeling or trust that their efforts will be rewarded by the management. Financial rewards means pay-for-performance such as bonus, promotion, compensation, gratuities etc. Non financial rewards are non monetary/ non cash and it is a social recognition such as acknowledgement, certificate and genuine appreciation etc. (Neckermann and Kosfelf, 2008). According to Fay and Thompson (2001) reward system have a critical role in determining the organization’s ability to attract high potential employees and to retain high performing employees and to retain high performing employees to achieve greater levels of retain high performing employees to achieve greater levels of quality and performance.
According to Baratton (1999) rewards refer to all form of financial returns and tangible service and benefits and employee receives as part of an employment relationship. “Reward is the benefits that arise from performing a task, rendering a service or discharging a responsibility” (Colin, 1995). Ajila and Abiola (2004) revealed that reward package can influence on employee performance. Base on their findings they concluded that reward system helps to increase employee performance by enhancing employee skills, knowledge and abilities in order to achieve organizational objectives.
The main purpose of the study is to analyze the effect of reward practice on employee performance of Nepalese commercial banks. The study has the following specific objectives: to analyze the perception of employees on reward practices in Nepalese commercial banks, to examine the relationship of compensation, promotion, bonus, recognition and empowerment on employee productivity and job quality in Nepalese commercial banks, to find out the most important factor affecting employee productivity and job quality in Nepalese commercial bank.
The primary source of data is used to assess the opinion of employee with respect to reward practices on employee performance in Nepalese commercial banks. The survey is based on 150 respondents from 15 commercial banks in Nepal. The questions were asked in the Likert scale questions. The Likert scale questions of different variables as compensation, promotion, bonus, recognition, empowerment, employee productivity and job quality were measured in 5 point scale. For the fact finding of the study primary data was analyzed by using percentage frequency distribution and methods such as descriptive statistics, correlation analysis and regression analysis.
The result of the study shows that there is positive correlation between rewards practices on employee productivity and job quality in Nepalese commercial banks. The impact of compensation, promotion, bonus, recognition and empowerment are positively significant with employee productivity. The impact of compensation, promotion, bonus, recognition and empowerment are positively significant with job quality.
Promotion has the highest weighted mean value which reveals that it is followed effectively in Nepalese commercial banks. Likewise recognition has lowest weighted mean value which indicates that recognition practices are not effectively followed in Nepalese commercial banks. The beta coefficient of compensation, promotion, bonus, recognition and empowerment are positive when regressed on employee productivity. In the same way, beta coefficient of compensation, promotion, bonus, recognition and empowerment are positive when regressed on job quality. Recommendations are given on the basis of the finding of the study. The major conclusions of the study are that all the variables of rewards have positive relation with employee productivity and job quality. If the Nepalese commercial bank has good reward system in the form of compensation, promotion, bonus, recognition and empowerment it will tends to increase employee productivity and job quality. The more the bank focuses on the variable of the reward practice it leads to motivate the employee towards their job and the bank.
|
|
Refine your search Apply to external sourcesImpact of reward on employee performance in Nepalese commercial banks / Saluna Shrestha
