Abstract:
The main objective of the study is to analyze the employees rewarding system and performance of commercial banks. The specific objectives of the study is to assess the effectiveness of employees rewarding system used by COGEBANQUE PLC to its employees, to examine the performance within COGEBANQUE PLC and to find out the relationship between employees rewarding system and performance of COGEBANQUE PLC. Research design is the plan and structure of investigation so conceived as to obtain answers to research questions. The plan is the overall scheme or program of the research (Robson, 2002). A descriptive research design was used in this study. The Descriptive research is used as a pre-cursor to quantitative research designs as it provides the general overview giving some valuable pointers as to what variables are worth testing quantitatively. In this study the population was comprised by employees of COGEBANQUE PLC involved. After analyzing annual report of COGEBANQUE PLC from 2018 up to 2022 the population found to be totaling more than 124 staffs of COGEBANQUE PLC with a sample size of 55 respondents. The data was collected through documentation and questionnaires techniques Plc. The results of the findings shows that 33% of the respondents‟ employees of COGEBANQUE PLC confirmed that salary increases encourage employees to work harder. At this point, it is clear that, increase in salaries lead to excellent employees‟ performance in COGEBANQUE PLC. 27% of respondents said that receiving the appropriate salary for one's efforts and abilities is a culture in COGEBANQUE PLC. This implies that the employees‟ efforts and abilities are considered in salary fixation in COGEBANQUE PLC. In COGEBANQUE PLC Bonus payment is reasonable and equitable in-light of the work and qualifications confirmed by 29% of respondents. For this reason this area needs to be strengthened. Provided that COGEBANQUE PLC provides bonus to its employees, it is good evidence that there is effectiveness in rewarding system in COGEBANQUE PLC which implies excellent effectiveness. The study recommends COGEBANQUE PLC‟s Net profit margin in 2019 was 22.1%, in 2020 start to increase significantly of 20.2, the net profit margin was 23.1% in 2021 and in 2022 the net profit margin decreased up to 32.5% and COGEBANQUE PLC should plant the culture of improving career prospects. COGEBANQUE PLC should create a workplace feeling improvement. This will lead to better performance often leads to improved productivity.
