The Impact of Reward System on Employee Performance: A Case Study of Bank of Tanzania

Abstract

The study was “the impact of reward system on employee performance: case study of bank of Tanzania” it aimed at analysing the effects of financial and nonfinancial \nrewards on empoyees’ job performance at BOT. The study employs both qualitative and quantitative research paradigms and philosophy. This research method is “the \nprocedures for coming to terms with the meaning not the regularity of an occurrence by studying it in its social context.” a quantitative approach is likewise used because it is essential to have the absolute values of certain key issues during the research. \nQuantitative research method is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity (William, 2010). \nTherefore study employed both quantitative and qualitative approaches. Meanwhile after data collection and discussions findings of this research which includes the descriptive statistics, characteristics of work motivation, attributes of employees’ rewards, attributes of employees’ performance and effects of the independent variables on the dependent variable, this among other issues. Analysis of the study \nabove study, it is obvious therefore those financial rewards positively affect employees’ job performance. Similarly non financial rewards have the same impact on \nemployees’ job performance at BOT. Thus, it is crucial that managers of the bank pay attention on the way they reward their employees in order to boost job performance, \nbut it is often time that non financial rewards are ignored by managers in many organization, this study provides suggestion that they are vital in improving job performance. After a conclusion, then the research recommended that, employees’ job performance in the central Bank of Tanzania and any other business Organizations are \ninfluenced by rewards systems in place.

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