The Impact Of Rewards And Employee Performance Case Study: Wells Fargo Company In Kenya

ABSTRACT 

The study was about the impact rewards and its effect on employee perfonnance in Wells Fargo in Kenya. The need to cany out the study was necessitated by the fact that there are complaints that the reward system has not been effectively implemented and identified as one of the reasons for decline in productivity. The purpose of the study was therefore to investigate the impact of rewards on employee performance in Wells Fargo. The specific objectives of the study were: (i) to examine the effect of intrinsic rewards on employee performance. (ii) to assess the effects of extrinsic rewards on employee performance. (iii) to establish the relationship between reward policy and employee performance. The researcher used both primary and secondary data. The sample size was 250 respondents who were chosen through simple random sampling from various departments. The questionnaire and interview guide were used as the research instruments. Both open and cloOsed ended questions were used to identify research problem and collect relevant data. The data was then analyzed using frequencies and percentages as a statistical method and presented in table form. The result obtained revealed that a reward is a very crucial aspect in any organization and its presence cannot be unde1mined. Therefore, management has to ensure that its workforce is rewarded as a way of motivating them so as to oimp5rove on their perfonnance thus increase the overall perfonnrrnce in the organization. The study recommends: the management of Wells Fargo company should design jobs in am manner that makes them interesting and challenging to employees and involve them in decision making concerning their pay. Mechanisms should be put in place to ensure that employees are given benefits consistently and fairly and payrolls are prepared in time. Management should also ensure fair and equitable distribution of other financial rewards to employees.