Reward management practices and employee performance at Nakumatt holdings ltd
The objective of this study was to establish the influence of reward management practices on the performance of employees at Nakumatt Holdings Limited. A total of 195 questionnaires were administered and the study managed to obtain 100 completed questionnaires representing 51.3% response rate. The questionnaires contained questions that addressed the objectives of the study. The collected data was edited and cleaned for completeness in preparation for coding. Once coded, the data was entered into the Statistical Package for Social Sciences (SPSS) for analysis. Descriptive statistics such as mean and standard deviation were used to analyze the data. Regression analysis was used to test the relationship between the variables under study in relation to the objectives of the study. Analysis of variance (anova) was used to confirm the findings of regression. The study concluded that both financial and no-financial rewards have a positive effect on the performance of employees at Nakumatt Holdings Limited. However, no-financial rewards had a greater influence since they involve rewards such as recognizing high achievers and excellent performers of the company and giving them promotion on merit, providing employees with a good working environment, offering employees training programs to its employees as well as giving them opportunities for career advancement and rewarding responsibilities. All this either equips the employee with the skills and motivation needed for excellent performance or creates a conducive environment for them to work. The study recommended that the management of Nakumatt Holdings Limited should carry out a benchmarking activity against the best players in the world as a way of improving their employee performance. The study also suggested that a similar research should be done in future but all the supermarkets in Kenya should be included so as to enable the researcher to draw adequate conclusions.