Effect of Reward Management on Employees’ Job Performance in the Case of Getfam Hotel
No Thumbnail Available
Date
2024-10
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Addis Ababa University
Abstract
The purpose of this study is to examine the effect of reward management on the performance of employees. The study also attempted to investigate what types of reward system financial or non-financial contribute to the employee better performance. This helps the hotel to identify which one is the most effective and contribute to the success of the hotel in providing exceptional service which is expected from five-star hotel. Quantitative research method was applied. Primary data was collected by using questionnaires targeting employees working in a hotel. In order to select the respondents from the total population of 193permanent staff of the hotel, random sampling method was applied. The sample size determination comes with 130 samples to be taken in to the study by using a formula adopted Isreal 2012. A survey was done and the study achieved 95.38% response rate. From 130 questionnaires 124 were filled and returned. Descriptive analysis presented numerical daa. Inferential statistics was also used to show the interdependence between the dependent and the independent variables using correlation and regression analysis. The descriptive statistical tool, Statistical Package for Social Sciences (SPSS 20) was used to help the researcher describe the data. According to the study's findings, there is a link between reward management and employee performance in general, as well as financial and non-financial rewards in particular. The research also revealed that employees' working performance was influenced more positively and significantly by the non-monetary reward component than by the financial reward component. The study concluded that the hotel needs to strengthen its present reward systems in order to attract and retain their personnel. Furthermore, the hotel must consider rewards as a performance motivator and part of its overall company plan.
Key Words: Reward, Reward Management, Financial Rewards, Non-Financial Rewards, Reward Management Practices