– Financial Incentives and Employee

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

salamiakeemola@gmail.com

OLAIFA, Oluwagbenga Oladele

Department of Business Administration, Federal University of Agriculture,

Abeokuta, Ogun State

gbengaolaifa60@gmail.com

KOLAWOLE, Olowookere Johnson

Department of Accounting, Osun State University, Osogbo

olowookere@uniosun.edu.ng

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.

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