The Effects Of Monetary And Non-Monetary Rewards On The Employees' Performance In Manufacturing Firms In Rivers State, Nigeria
Keywords:
Rewards, Performance, OrganizationsAbstract
The study investigated the motivational implications of monetary and nonmonetary rewards in the performance of manufacturing organizations in Rivers State of Nigeria. The study was conducted using cross sectional design. The target population of the study was the employees of the Nigerian Engineering Works (NEW) Plc, Rivers Vegetable Oil Company (RIVOC) Limited and West African Glass Industry (WAGI) Plc which were selected through systematic sampling from thirty-two registered companies with the Manufacturers Association of Nigeria (MAN) in Rivers State. A sample of 312 respondents was drawn from the population through proportionate stratified sampling to ensure fair representation of research subjects selected from the various firms and each stratum of Senior and junior staff categories. Primary data were collected through the administration of questionnaire. Questionnaire was the main instrument for data collection and was designed in a 5-point Likert scale ranging from strongly agree to strongly disagree. The data collected were presented and analysed with frequency distribution and percentage while the corresponding hypotheses were tested with Chi-square statistic at 0.05 alpha level. The study found that monetary and non monetary reward had significant positive effect on employees’ performance. The study observed that employees selected from the three firms placed great value on different rewards given to them and this promoted their level of performance. Thus, it was concluded that monetary and non-monetary rewards should be provided in manufacturing settings to stimulate an employee and sub unit workforce behaviour for performance at the individual and organizational levels.
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