The Effect Of Monetary Reward As Motivator On Employee Performance In Guinness Nigeria Plc, Benin-City, Edo State, Nigeria
Akerejola Williams Olasojumi
Wellspring University, Benin-City, Edo State.
Ohikhena Patrick Stephen
Wellspring University, Benin-City, Edo State.
Igbinigun Emmanuel
Emenike Anthony & Co. Chartered Accountants, Benin-City, 2: Federal Character Commission, Benin-City.
Emenike Anthony
Emenike Anthony & Co. Chartered Accountants, Benin-City, 2: Federal Character Commission, Benin-City.
Keywords: Motivation, monetary reward, job security, employee performance, organization performance
Abstract
Motivation has for long been attracting the attention of researchers in many disciplines like psychology, management and other behavioral sciences. Consequently, notable experts have made an appreciable contributions in this area, such experts includes people like Abraham Maslow, Fredrick Herzberg, McGregor, Victor Vroom, McClelland etc. Every organization has some goals and objectives which it sets out to achieve and this is done through the efficient and effective management of material and human resources available to the organization. In this study, the focus is on the role of monetary reward as motivating factor for organizational performance in an organization. This article examines how monetary reward as well as job security impact employee performance at Guinness Nigeria Plc., Benin-City, Nigeria. Data were sampled randomly using convenience sampling method by administration of a well-structured questionnaires. The findings indicates that there is a significant relationship between the monetary reward and employee performance as well as between job security and employee performance at Guinness Nigeria Plc in Benin-City. It is then recommended that there is the need for management of Guinness Nigeria Plc to highly motivate their staff or workers by adequate monetary reward which includes appropriate remuneration based on work schedule, other incentives such as overtime payments, productivity bonus and other ancillary monetary rewards that will impact workers performance by these workers are likely to put in their best performance which will in turn impact positively on organizational performance