Impact of reward on organizational profitability and employees performance

Thesis Overview

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