The Impact of Rewards and Employee Performance: A Case Study of Wells Fargo Company in Kenya
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Date
2011-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University, bachelors degree in Human resource management
Abstract
The study was about the impact rewards and its effect on employee performance in Wells Fargo
in Kenya. The need to carry out the study was necessitated by the fact that there are complaints
that the reward system has not been effectively implemented and identified as one of the reasons
for decline in productivity. The purpose of the study was therefore to investigate the impact of
rewards on employee performance in Wells Fargo. The specific objectives of the study were: (i)
to examine the effect of intrinsic rewards on employee performance. (ii) to assess the effects of
extrinsic rewards on employee performance. (iii) to establish the relationship between reward
policy and employee performance.
The researcher used both primary and secondary data. The sample size was 250 respondents who
were chosen through simple random sampling from various departments. The questionnaire and
interview guide were used as the research instruments. Both open and closed ended questions
were used to identify research problem and collect relevant data. The data was then analyzed
using frequencies and percentages as a statistical method and presented in table form. The result
obtained revealed that a reward is a very crucial aspect in any organization and its presence
cannot be undermined. Therefore, management has to ensure that its workforce is rewarded as a
way of motivating them so as to improve on their performance thus increase the overall
performance in the organization.
The study was about the impact rewards and its effect on employee performance in Wells Fargo
in Kenya. The need to carry out the study was necessitated by the fact that there are complaints
that the reward system has not been effectively implemented and identified as one of the reasons
for decline in productivity. The purpose of the study was therefore to investigate the impact of
rewards on employee performance in Wells Fargo. The specific objectives of the study were: (i)
to examine the effect of intrinsic rewards on employee performance. (ii) to assess the effects of
extrinsic rewards on employee performance. (iii) to establish the relationship between reward
policy and employee performance.
The researcher used both primary and secondary data. The sample size was 250 respondents who
were chosen through simple random sampling from various departments. The questionnaire and
interview guide were used as the research instruments. Both open and cloOsed ended questions
were used to identify research problem and collect relevant data. The data was then analyzed
using frequencies and percentages as a statistical method and presented in table form. The result
obtained revealed that a reward is a very crucial aspect in any organization and its presence
cannot be undermined. Therefore, management has to ensure that its workforce is rewarded as a
way of motivating them so as to improve on their performance thus increase the overall
performance in the organization.
The study recommends: the management of Wells Fargo company should design jobs in am
manner that makes them interesting and challenging to employees and involve them in decision
making concerning their pay. Mechanisms should be put in place to ensure that employees are
given benefits consistently and fairly and payrolls are prepared in time. Management should also
ensure fair and equitable distribution of other financial rewards to employees.
Study recommends: the management of Wells Fargo company should design jobs in am
manner that makes them interesting and challenging to employees and involve them in decision
making concerning their pay. Mechanisms should be put in place to ensure that employees are
given benefits consistently and fairly and payrolls are prepared in time. Management should also
ensure fair and equitable distribution of other financial rewards to employees.
Description
A Research Project Submitted To The School Of Business And Management In Partial Fulfillment Of The Requirement For The Award Of Degree In Human Resource Management Of Kampala International University
Keywords
Rewards and Employee Performance, Wells Fargo Company in Kenya.