Employee perception of incentive schemes: the case of unionnizable staff at Cooperative Bank of Kenya
It is argued in literature that employee motivation is the foundation that enables the organization to achieve improved productivity and hence become competitive and successful in the market. It is no wonder therefore that many organizations nowadays have incentive schemes in place. In this paper, based on a case study of Cooperative Bank of Kenya, we sought to find out the employee perception of these incentive schemes; staff perception of their appropriateness and effectiveness, how they have evolved over time and finally whether these schemes work in modern organizations. Descriptive survey method was used and the population of the study was the unionizable employees of all the Cooperative Bank Branches in Nairobi and some managers were used as key informants. Data was collected using questioners, interviews and secondary sources were used. It was analyzed using descriptive statistics to enable deriving some conclusions. The findings show that there is high awareness of staff on the incentive schemes in place, that indeed incentive schemes motivate employees to work harder and improve productivity. It has also emerged that although employees believe that performance evaluations are fairly done, incentives are not given according to individual performance.