Reward systems and employee performance: the case of Mon-Tran Ghana Limited in Accra

Abstract

This study has been influenced by the purpose to assess reward system among agency employees and understand how reward system impacts agency employees the most among Mon-Tran Ltd, Accra. The specific objectives that guided the study were; to analyse the perceptions of employees regarding Mon Tran ltd reward systems; to assess the relationship between reward system and employee performance; to examine the extent to which financial and non-financial rewards influence employee performance. The study adopted a quantitative methodology. The design of the study was descriptive, with a sample of 196, out of which 146 responded from the 190 questionnaires which were successfully distributed. The main instrument used for this study was a structured questionnaire with statistical tools such as; mean, standard deviation (SD), frequencies, percentages and linear regression analysis. The study adopted a simple random technique. The study findings first indicated that the employee have a satisfactory perception about the reward system of the company and that should in some extend be involved in the designing of their reward system. The study also revealed that there is a significant and strong positive relationship between employee performance and extrinsic rewards. The results of the study however, also pointed out that, there was an insignificant effect between intrinsic rewards and employee performance. The study recommended that management of Mon-Tran ltd should provide the opportunity for consulting their employees on designing and determining appropriate reward systems.