The Impact of Rewards on Employee Performance: A Study of Commercial Banks in Noakhali Region

Abstract

Rewards are benefits that come from performing a job, providing a service, or performing a duty. Rewards are one of the most important tools to encourage employees in the workplace. The goal of the reward system is to deliver positive results. The purpose of the study was to examine and analyze how the rewards system of the banking sector in Bangladesh helps employees to acquire work skills. The aim was to find out which aspects of the reward system work best and which aspects can be further improved and enhanced to increase employee satisfaction. The experimental part of the project was conducted using a quantitative research method. The size of the sample was 80. Data was collected with the help of questionnaires issued to the respondents working as ban bankers. The questionnaire consists of nine variables that are being used as rewards for employees. Frequency tables and graphs based on descriptive statistics were used in the study to provide information about variables in the population. The result shows that the mean for salary evaluation, bonus, benefit, promotion, recognition, career, responsibility learning opportunity from a low 2.82 to a high of 4.02. The responses of salary evaluation, benefit, promotion, career advancement show that employees consider this factor slightly important than factors as mean value is greater than 3.5. The standard deviation of promotion and responsibility shows that these variables have extensive responses than their mean as value indicates 0.98 and 0.94 respectively. The results of the study revealed how employees responded to current reward systems. The results conclude that reward systems have a significant effect on employees' attitudes toward work. The study suggested improving the reward system of companies to increase the level of satisfaction among employees.