Reward system as strategy for improving employees’ productivity in Nigeria

Abstract

This paper appraises reward system as a strategy for increasing employees' productivity. The effects of intrinsic and extrinsic rewards on employees' productivity were measured by collating primary data through the use of multistage, stratified and random sampling techniques to sample respondents in University of Lagos. 400 copies of the questionnaire were administered but only 280 copies were recovered for analyses. Regression analyses findings showed coefficient results of: (R 2 )(0.361; (R 2 )(0.271); (R) 2 (0.180) (for hypotheses 1,2, and 3 respectively) to be significant at 0.05 level. The correlation coefficient of 0.386 for hypothesis 4 tested at 99% confident limit, revealed work input and extra rewards to be positively correlated Keywords: Reward; Strategy; Productivity; Long-service-awards; Allowances. RESUMOEste artigo avalia o Sistema de recompensa como uma estratégia para melhorar a produtividade de colaboradores, com referencia particular na Universidade de Lagos, Nigéria. Os efeitos de recompensas intrínsecas e extrínsecas na produtividade dos colaboradores foram medidos pela coleta de dados primários por meio de técnicas de amostragem multiestágio, estratificada e aleatória sobre os respondentes na Universidade. 400 cópias do questionário foram entregues, mas apenas 280 foram devolvidas para análise. Os resultados da análise de regressão mostraram coeficiente de resultados de (0,180)para as hipóteses 1,2, e 3, respectivamente, para serem significativos no nível de 0,05. O coeficiente de correlação de 0,386 para a hipótese 4, testada com intervalo de confiança de 99%, revelou que a entrada de trabalho e recompensas extras podem ser correlacionadas positivamente. Palavras-chave:Recompensa; Estratégia; Produtividade; Prêmio por tempo de serviço; Subsídios. RESUMENEste artículo evalúa el Sistema de recompensa como una estrategia para mejorar la productividad de empleados, con referencia particular en la Universidad de Lagos, Nigeria. Los efectos de recompensas intrínsecas y extrínsecas en la productividad de los empleados fueron medidos por la colección de datos primarios por medio de técnicas de muestreo de múltiples etapas, estratificado y aleatorio sobre los respondientes en la Universidad. 400 copias del cuestionario fueron entregadas, pero solo 280 fueron devueltas para análisis. Los resultados del análisis de regresión mostraron coeficiente de resultados de (R 2 )(0,361; (R 2 )(0,271); (R) 2 (0,180)para las hipótesis 1,2, e 3, respectivamente, para ser significativos en nivel de 0,05. El coeficiente de correlación de 0,386 para la hipótesis 4, testada con intervalo de confianza de 99%, reveló que la entrada de trabajo y recompensas extras pueden ser correlacionadas positivamente. Palabras-clave:Recompensa; Estrategia; Productividad; Premio por tiempo de servicio; Subvenciones.

Effects of leadership and reward systems on employees' motivation and job satisfaction: an application to the Portuguese textile industry

“…Adebisi and Oladipo (2015) conclude that RS enable the acquisition, retention and motivation of employees, which in turn leads to positive performance outcomes, productivity and competencies.…”

“…The use of RS that includes recognition encourages employees to be more motivated to achieve good performance in the organization (Adebisi and Oladipo, 2015) and are key in motivating employees as they enable them to do their jobs more effectively, thereby boosting productivity and commitment to the company (Taba, 2018).…”

“…The reward system is an important part of human resources management for an organization as it produces consequences on employee performance (Huselid, 1995). Adebisi and Oladipo (2015) conclude that RS enable the acquisition, retention and motivation of employees, which in turn leads to positive performance outcomes, productivity and competencies.…”

“…Highly motivated employees are a competitive advantage for organizations, since their performance will enable them to achieve the goals that have been determined (Adebisi and Oladipo, 2015) and with better conditions (Tran and Do, 2020).…”

“…For Taba (2018), RS are crucial to the employees' satisfaction. The basic purpose of recognition and reward programmes is to define a system to the employees whereby they can link their reward to their performance, which ultimately leads to job satisfaction (Adebisi and Oladipo, 2015). We therefore propose the following research hypothesis: H7.…”