AN ASSESSMENT OF FINANCIAL REWARD SYSTEM PRACTICE AT COMMERCIAL BANK OF ETHIOPIA

Abstract

The purpose of the research paper is to assess employees financial reward system practice in Commercial Bank of Ethiopia. The population of the study was 142 employees of the bank who works in four selected branches South Addis Ababa district. In this study, both primary and secondary source of data were used. The primary data were gathered through questionnaires from 142 respondents from CBE using census survey method. A total of 142populations were distributed from CBE and a total of 138 employees completed and returned the questionnaire properly. The analysis was done by the help of SPSS version 20 and presented using descriptive statistics. Tables are used to provide information on the variables. Interpretation is made on the frequency and percentage of data. The finding of the study indicated that employees of the company were not satisfied with the current financial reward system. Moreover, the rewards provided to employees are not attractive as compare with other similar industry. Therefore, at this moment, it is very important to ensure a motivated work force because employees are the only asset directly contributes to organization outcome. The study also found that base pay, increment, bonus were amongst the top financial reward at CBE. Good financial rewards are plays a great role in employees behavior and enhance organizational outcome. The researcher recommended Commercial Bank of Ethiopia should consider reviewing the reward system, offering competitive financial rewards and timely rewarding employees