Abstract:
ABSTRACT
The study aimed to investigate the effects of reward strategies on employee performance at
Bayport Financial Services. The study was guided by four specific objectives: To assess the
effort of financial reward on employee’s performance; To assess the effect of non-financial
reward on employee’s performance; To determine the relationship between the psychological
reward and employee’s performance. A non-probability sampling technique, specifically,
convenient sampling was used to select a sample of 144 respondents from a target population
of 400 employees in the Kumasi Branches. The study adopted descriptive research and a
correlational design. Structured questionnaires were used to collect primary data. Data
analysis was carried out using quantitative techniques with the aid of SPSS. The study found
a significant relationship between psychological reward and employee performance.
However, financial and non-financial rewards did not show any significance. The study
concluded that there is a relationship between psychological reward and employee
performance.