Rewards and Incentives Impact on Job Satisfaction of Saudi Banks Employees
Abstract
This study aims to investigate rewards and incentives impact on job satisfaction of Saudi banks Employees , to achieve these objectives a questionnaire was developed to measure study variables that are believed to affect job satisfaction, a total of 480 questionnaires were distributed to a study sample, consisting of employees in Saudi banks, 403 questionnaires were collected, so the response rate is 83.9 % of the total sample. The study concluded a set of results , the most important one were as follows :financial, moral, individual and collective incentives play a significant role in developing banks’ activities, encouraging innovation, reducing employees’ turnover rate, minimizing the complaint and their dissatisfaction among, and raising employees morale. The study concluded that Saudi banks are keen to have employees satisfaction by providing financial incentives and rewards for distinguished staff , and by providing wages and salaries that match with work size and responsibilities .The study also concluded that Saudi banks do not provide scholarship opportunities to enable employees to join their higher study, and they do not provide regular and continues financial and collective incentives at departments and sections levels. Moreover they do not offer employees a percent of their annual profits . The study also concluded that Saudi banks use negative incentives to punish employees for their work negligent, and transfer employees from one area to another in case of work negligent and they dismiss employees arbitrary in case of committing financial mistakes.Finally, the study recommended a set of recommendations including: Saudi banks have to pay more attention to their human resources in order to achieve higher profits and providing customers with better banking service through achieving employees job satisfaction., Banks also have to increase their concern with financial ,, moral, individual and collective incentives and benefits provided to employees due to their significant role on employees job satisfaction and job performance . Such incentives should be compared annually with other local ,regional and international incentives provided by the local, similar regional and international institutions incentives. Banks also have to provide more training courses and to develop a system of scholarship for distinguished employees for the purpose of employee's retaining . Finally Saudi banks have to uses fair and transparent negative incentives system to punish employees for work negligent, and to apply the same equally on all employees without patronage.
Keywords: Saudi Banks, financial Incentives, moral Incentives, individual Incentives, collective incentives, negative incentives, Job Satisfaction
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