A Comparative Study of the Impact of Intrinsic and Extrinsic Rewards on Employees Motivation Between Public and Private Commercial Banks in Ethiopia
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Date
2016-01
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Addis Ababa University
Abstract
The purpose of this study is to compare the impacts of intrinsic and extrinsic rewards on
employees’ motivation between public and private commercial banks in Ethiopia. The target
population of the study was the employees of the selected public and private commercial banks
of Commercial Bank of Ethiopia (CBE), Awash International Bank (AIB), Cooperative Bank of
Oromia (CBO) and Enat Bank. Hence, a mixed method of stratified purposive sampling was
used, and 363 questionnaires were distributed to the employees of one public commercial bank
and three private commercial banks, out of these questionnaires, 298 were filled properly. As a
result, the overall response rate was 82 percent. The major findings of the study reveals that
public commercial banks employees in Ethiopia motivated by intrinsic rewards more than the
private commercial banks employees, while, private sector commercial banks employees in
Ethiopia motivated by the extrinsic rewards more than the public sector commercial banks
employees. Besides, the result suggests that with the acceptable
P<0.05 significant levels, all
the variables of intrinsic rewards are statistically significant. Finally, the researcher suggests
that the public and private commercial banks human resource management and the concerned
body(s) focus on both intrinsic and extrinsic reward elements to motivate employees better and
to achieve the desired end(s).
Key words: Intrinsic reward, extrinsic reward and employee motivation
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Keywords
Intrinsic reward, Extrinsic reward and employee motivation