FINANCIAL INCENTIVES AND EMPLOYEE PERFORMANCE: A CASE STUDY OF NIGERIAN COPYRIGHT COMMISSION
SALAMI, Akeem Olanrewaju
Department of Business Administration, Federal University of Agriculture,
Abeokuta, Ogun State
OLAIFA, Oluwagbenga Oladele
Department of Business Administration, Federal University of Agriculture,
Abeokuta, Ogun State
KOLAWOLE, Olowookere Johnson
Department of Accounting, Osun State University, Osogbo
and
RAHMON, Tella Adeniran
Department of Business Administration, Osun State University, Osogbo
adenirantella@gmail.com
ABSTRACT
The study sought to determine the relationship between financial reward like bonuses and pay raise on employees’ performance. The study adopted a survey research approach as the research design. Both descriptive and inferential statistics were employed. The target population was employees working in the Nigerian Copyright Commission, which constitute a sample size of 187. Primary data was collected using structured questionnaires. Quantitative data were analyzed using Statistical Packages for Social Sciences (SPSS). The study found that there was a positive and significant relationship between cash bonuses and employee performance as well as positive and significant relationship between pay raise and employee performance. Based on the findings, the study concluded that cash bonuses and pay raise have a positive and significant effect on employee performance. The study recommended that the policy makers to formulate policies than embrace reward systems that could be implemented by related public sector agencies to give them a competitive advantage as well as in setting structures that support employee performance.
Key words: Reward, Employee performance, Bonus, Pay raise.