An Assessment of Employee Recognition Practice in Awash International Bank
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Date
2015-06
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Addis Ababa University
Abstract
Today’s organizations are operating in a very dynamic and highly competitive environment. To remain relevant in the market, they have to be able to respond quickly to ever changing human resource demands. Reward management is one of the ways used by organizations for attracting and retaining suitable employees as well as facilitating them to improve their performance. Awash International Bank is an organization that offers essential banking services in Ethiopia. The management has established rewards in their organization in pursuit of increasing employee performance so as to ensure prompt and quality service. This study therefore aimed at assessing the practice of recognition, which is one of the major dimensions of reward, at Awash International Bank. Specifically, the study sought to determine the extent to which the recognition adopted at the bank has influenced employees’ motivation. The study adopted quantitative research design. Data was collected using questionnaires. Self administered questionnaires were distributed and 286 employees responded. Descriptive statistics (frequency tables, percentages) were used to present data. Mean and standard deviation were used to analyze the programs, criteria, forms and ways of recognition. Data were analyzed with the help of the Statistical Package for Social Sciences (SPSS) computer program. The findings of the study showed that recognition practice of the bank is found less effective to motivate its employees. This is activated more by ineffective criteria and imbalance forms and ways of recognition. The organization should focus on creating a balanced reward system emphasizing more on recognition which is the least cost but the most effective way of rewarding employees. This will increase employee motivation as employees will get more autonomy, belongingness and responsibilities
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Keywords
reward management, recognition, standard criteria