Reward systems and employee performance: case study of National Insurance Corporation (Ltd) of Tanzania
Loading...
Date
2008-09
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University; College of Humanities and Social Science
Abstract
The study was undertaken to establish reward systems and employee performance in the organization with the objectives of establish different types of reward systems used in an organization, to examine determinants used to formulate reward systems and to establish relationship between reward systems and employee performance. The methods used to collect data were through questionnaires, interview and also the researcher collected relevant data from other scholars in different text books, journals and internet. The findings revealed that, NIC use financial and non-financial rewards like salaries, wages, incentives, employee benefits and non- financial rewards such as promotion, job security, job enrichment, job enlargement and recognition. Furthermore, the findings revealed that, different organizations establish rewards basing on ability to pay, cost of living, labour markets and levels of productivity in an organization. It has identified that, employee performance is determined by personal factors, organizational factors and other related factors like remunerations, ability of an individual employee, cost of living, bargaining power, experience, performance appraisals, training and development as well as skills and competent of the employee. The effective and efficient performance of the employee increases organizational productivity behaviors while lack of effective and efficient encounter unproductive behaviors like low productivity, failure to achieve employee needs and objectives of the organization as a whole. Therefore, from the findings, it has revealed that, there is positive and closely relationship between reward systems and employee performance, the researcher recommended that, the organizations should design and redesigns reward systems, consistent determinants of rewards and distributing equally and fairly to all employees in respect with their contributions, worth of jobs in order to motivate and retain highly qualified and competent employees in an organization.
Description
Dissertation submitted to the Faculty of Business and Management of Kampala International University as partial fulfillment for the Award of Bachelor Degree in Human Resource Management
Keywords
Reward systems, employee performance, National Insurance Corporation (Ltd), Tanzania