Impact of reward on organizational profitability and employees performance
Table Of Contents
Thesis Abstract
Thesis Overview
INTRODUCTION
1.1Background
of the study
Emenike ltd was
incorporated in 1961 as turner abestors Cement (TAC Nigeria Ltd,) the company
commenced the actual business of manufacturing re-forced fiber-cement material
such as roofing-sheet and flat sheets (ceiling board in 1963). The product line
was later expanded to include pressure pipes. In 1988, turners building (turner
assistors cement TAC ltd Emene was acquired by Emenite group of Belgium and in
1989, the name was charged to Emenite ltd. Emenite ltd pays a lot of
emphasis on product inspection. They start from the raw material, the raw
material includes cement, wood, pulp and fibre, undergoes series of tests.The
wood is tested for the dispersion and shaper rougher S.R that determines that
freeness of the wood pulp. Then the fibre is tested by solubility, which
determines that dispersion ability in the fibre.The final inspection is the
finished product inspection, which a simple is collected at random from the
production line, from each pallet as they are called and after (curing) drying,
they test the bending strength which determines the strength of the product and
also tested for all porosity and density which will show the ability of the
product to absorb water, this tests are being carried out in two stages.First
after 7 days and second after 28 days, then if they are certified okay by the
quality controller, it can now be sold. The control of the product is purely
the responsibility of the quality control department. In Emenite ltd, the
department comprises of the quality control and the process control.The process
control section is responsible for the online process of the product while the
product are still in process, they control the parameters and make sure that
the production crew comply to the set standard, if there is any non conformity
in the process, a complaint form is being issued out to the production crew for
immediate correction. This section is responsible for testing and certifying
the raw material before use.
All the products have a
standard that it must pass before they are released from the quality control
department. The company presently has a staff strength of about 200 which is
supplemented by a few contract worker hire from the time as the need arise.
1.2
STATEMENT OF THE PROBLEM
There is controversy all
over the companies; there is a frequent clash between company and customers.
Most times when the customers visit the company, experience is always
unbearable, delayed tactics and the manner by which the workers react to their
customers, mostly with harsh tones, in attending these customers, create lot of
discouragement. The head office of Emene ltd in Lagos works even on Sunday
without any of the staff complaining, while their counterparts of the other
companies were on their weekend or holidays.Work overload were the major
problem facing Emenite ltd Company even most times, delay in receiving their
salary, it takes the management one or two weeks, delay to pay their workers
monthly salary especially Emenite ltd emene Enugu.
1.3
OBJECTIVE OF THE STUDY
The objectives of the study are;
1. To
determine whether a relationship exists between intrinsic rewards and employee
performance.
2. To
ascertain the impact of reward on organizational profitability
3. To
ascertain the relationship between organizational profitability and employees
performance
4. To
ascertain the impact of reward on employees performance
1.4
RESEARCH HYPOTHESES
For the successful completion of the study, the
following research hypotheses were formulated by the researcher;
H0:
there
is no relationship exists between intrinsic rewards and employee performance.
H1:
there
is relationship exists between intrinsic rewards and employee performance.
H02:there
is no relationship between organizational profitability and employee’s
performance
H2:there
is relationship between organizational profitability and employee’s performance
1.5
SIGNIFICANCE OF THE WORK
Rewards play important role
in success and failure of organization. Employees don’t work for free. Rewards
are important for employees because people work only for rewards. Organizations
provide rewards to their personnel in order to try to motivate their
performance and encourage their loyalty and retention. Organization rewards
take a number of different forms including money (salary, bonuses, and
incentive pay), recognition and task autonomy.
1.6
SCOPE AND LIMITATION OF THE STUDY
The
scope of the study covers the impact of reward on organizational profitability
and employees performances. The researcher encounters some constrain which
limited the scope of the study;
a)
AVAILABILITY OF RESEARCH MATERIAL:
The research material available to the researcher is insufficient, thereby
limiting the study
b) TIME:
The time frame allocated to the study does not enhance wider coverage as the
researcher has to combine other academic activities and examinations with the
study.
c)
Organizational privacy: Limited Access to the selected
auditing firm makes it difficult to get all the necessary and required
information concerning the activities.
1.7
DEFINITION OF TERMS
REWARD:A thing given in recognition of service, effort, or
achievement.
ORGANIZATION:An
organization or organization is an entity comprising multiple people, such as
an institution or an association that has a collective goal and is linked to an
external environment.
PROFITABILITY:Profitability ratios
are a class of financial metrics that are used to assess a business’s ability
to generate earnings compared to its expenses and other relevant costs incurred
during a specific period of time.
EMPLOYEE PERFORMANCE: Employee performance is defined as
whether a person executes their job duties and responsibilities well. Many
companies assess their employee’s
performanceon an annual or quarterly basis in order to define certain
areas that need improvement. Performance is
a critical factor in organizational success.
1.8 ORGANIZATION OF THE STUDY
This
research work is organized in five chapters, for easy understanding, as follows
Chapter one is concern with the introduction, which
consist of the (overview, of the study), historical background, statement of
problem, objectives of the study, research hypotheses, significance of the
study, scope and limitation of the study, definition of terms and historical
background of the study. Chapter two highlights the theoretical framework on
which the study is based, thus the review of related literature. Chapter three
deals on the research design and methodology adopted in the study. Chapter four
concentrate on the data collection and analysis and presentation of
finding. Chapter five gives summary,
conclusion, and recommendations made of the study
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