Influence of reward strategies on employees' motivation and task performance: a case of Kenya Commercial Bank, Kisumu Kenya
Echakara, Stephen O
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Each company must be willing to increase the productivity of their employees working, so that corporate goals can be run more effectively and efficiently. The company also saw skills and abilities possessed by employees, the company has no meaning if the company does not provide compensation in the form of rewards. Therefore, it requires an effort to motivate employees in order to increase work productivity. Today people have become more demanding and complex and reward strategies are used by organizations to motivate employees by satisfying this demand. Due to lack of understanding on how to motivate all these high demanding employees it makes most of the reward systems sub optimized, it is therefore important to come up with an optimal reward system, and hence there is a need to a better understanding to what motivates an employee and what does not. The purpose of this study was to establish the influence of reward strategies on employees' motivation and task performance with reference to Kenya Commercial Bank Kisumu Kenya. The objectives of the study were to investigate the influence of bonuses, team based rewards and recognition influence worker motivation and task performance, To investigate the relationship between managerial effectiveness and reward strategies in enhancing employee's motivation and task performance and to advance a working strategy that can best be used by Kenya Commercial Bank to achieve maximum returns for the company as well as maximum employee motivation and task performance. A descriptive survey study was adopted to perform this research which investigated and aimed at determining relationship among the factors that have resulted in the behavior under the study that is the influence of reward on motivation of employees and task performance. The whole population was taken as the sample size as it is too small in order to avoid research errors. Questionnaire and interview schedules were used to collect data which was analyzed using descriptive statistical components. Data was then classified and the Statistical Packages for Social Sciences computer software, SPSS was used to run descriptive analysis to produce percentages and frequencies distribution which were represented in tables. Findings indicated that reward strategies chosen by management actually influenced their motivation and task performance. Findings also indicated that it takes an effective management to develop a good reward strategy that can optimize the output of employees. Reward strategies are important tools that management effectively uses to channel employee motivation in desired ways. The systems seeks to attract people to join the organization, keep them coming to work and motivate them to perform to higher 'levels. The study recommended a rnodel of integrated total reward strategy as an effective rewards strategy for employees of Kenya Commercial Bank, Kisumu. Suggestions for further research have been given based on the study which is believed to have created an impact on its contribution to knowledge.