Effect of Rewards on Employee Performance in Organizations: A Study of Selected Commercial Banks in Awka Metropolis

Abstract

Purpose:The main objective of this study is to determine whether a relationship exists between rewards system and employee performance. More specifically, the study intends to address the relationship between intrinsic and extrinsic rewards on employee performance.Design/Methodology:A questionnaire designed in the likert-scale format was administered to employees of commercial banks in Awka Metropolis. Presentation and analysis of questionnaire was done using descriptive statistics, regression technique and two-way ANOVA.Findings:The empirical results indicated the presence of a relationship between rewards and employee performance and that there is a significant difference on the effects of intrinsic and extrinsic rewards on employee performance.

Key words: Rewards system, Intrinsic, extrinsic, employee performance.