Assessing the impact of financial rewards on organizational performance: a case study of Bindura University of Science Education, Zimbabwe.
- Author
- Westoni, Blessing
- Title
- Assessing the impact of financial rewards on organizational performance: a case study of Bindura University of Science Education, Zimbabwe.
- Abstract
-
Financial incentives and reward management play a crucial role in shaping employee contributions and driving organizational performance. This study examined the impact of financial rewards on performance at Bindura University of Science Education (BUSE), focusing on issues such as low morale, absenteeism, and lack of motivation. The research sought to explore the relationship between financial rewards and organizational performance, with the goal of enhancing reward management practices."
The study employed an explanatory research design, utilizing stratified random sampling to select participants from various employee groups. Primary data was collected through questionnaires distributed to 40 employees and interviews with 8 senior management members, yielding an 85% response rate. Secondary data was sourced from company archives, including newsletters, strategic plans, and financial reports. Data analysis involved thematic examination and visual representations using tables, pie charts, and bar graphs.
The findings revealed a positive correlation between financial rewards and organizational performance, highlighting the importance of effective reward management. The study concluded that financial rewards significantly enhance employee performance by demonstrating appreciation for their efforts and valuing their well-being.
Based on the findings, recommendations were made for BUSE to:
- Establish a framework for evaluating reward management practices
- Adopt an integrated and strategic approach to reward management
- Develop a formal and systematic reward management policy
These recommendations aim to improve reward management and enhance organizational performance at BUSE.
- Date
- June 2025
- Publisher
- BUSE
- Keywords
- Financial incentives
- reward management
- Supervisor
- Mr. O Jakata
- Item sets
- Department of Human Capital Management
- Media
-
BLESSING WESTONI.pdf