Effect of Staff Incentives on Performance of Employeees of Nyakrom Rural Bank Limited

Abstract

The study analyzed staff incentive schemes and employee performance at Nyakrom Rural Bank Limited. Data for this present study was collected through a questionnaire. The census method was employed which comprised of one hundred and thirty-five employees. Descriptive statistics and regression were used to analyse the data. The findings indicated that staff incentive scheme initiatives have the capability of enhancing employee performance positively. There was positive and significant relationship between incentive schemes and employee performance. The study also came out with the conclusion that, to ascertain an employee performance in relation to staff incentive schemes, the incentives must be feasible for the organization to implement. It was finally recommended that organisations should try to balance material considerations with non-material reinforcements to maximize job quality. Rewards or compensation package should at all-time be equitable and competitive.