ASSESSMENT OF REWARD MANAGEMENT PRACTICES IN AWASH INTERNATIONAL BANK S.C.

Abstract

The primary aim of this research paper is to assess the reward management practice of Awash International Bank S.C. basing on the perception of the bank employees towards the reward management practice. Based on a critical review of published literature, it is clear how important the right combination of rewards is to the performance of an organization. Employees should always be aware of the relationship between their level of performance and how they are rewarded for that performance. This thesis examined the perception of employees towards the different aspects of reward systems that affect performance and attempt to establish which type of reward systems are more beneficial to the company in question and in the current business climate it operates in. The research is conducted in a period of particular financial turbulence for the banking industry, and wider global economic environment. As such, reward structures and the perceived value of those rewards, come more into focus as financial pressures restrict the type of rewards available, while retaining and motivating staff becomes more challenging. Data were analyzed using descriptive statistics to allow for appropriate conclusion and recommendations according to the findings from the questionnaire and interviews. The questionnaire was subsequently sorted, categorized and finally tabulated. Data were presented using tables and charts. The findings of the study revealed and concluded that the employees were poorly remunerated and the overall rewarding practice was inadequate. Based on the study findings, the researcher recommended the way forward in improving the reward management system and practice.