The Effect of Reward Management on Employee Motivation: The Case of Wegagen Bank
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Date
2021-03
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Addis Ababa University
Abstract
The objective of this study is to examine the effect of the management of rewards (extrinsic and intrinsic rewards) on the motivation of the employees and how these rewards, which are payment of salary, bonus and benefit, promotion, leadership, working condition, challenging and interesting task, appreciation and Recognition and empowerment and autonomy help create motivation in the case of Wegagen Bank. The researcher used simple random samples to select the respondents and a total of 125 respondents were randomly selected from the head office and 121 of them responded. The data were analyzed using the Statistical Package for Social Sciences (SPSS) version 26. Based on the result of the regression, the extrinsic and intrinsic variables (salary payment, bonus and benefit, promotion, leadership, working condition, challenging and interesting task, appreciation and recognition) and empowerment and autonomy) have a positive and significant relationship with motivation. Accordingly, Wegagen Bank management will clearly set its rewards policy to improve employee motivation, resulting in overall performance.
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Keywords
Reward, Extrinsic Reward, Intrinsic Reward and Motivation