| dc.description.abstract | ABSTRACT
Business organizations are facing significant challenges on internal and external work
environment, so organizations cannot maintain institutional performance without
providing incentives to their employees based on their efficient and effective work.
Linking pay to performance is something employers increasingly seek to achieve. It is
believed that remuneration strategy accounts for one of the greatest investments an
organization makes. Although a fair wage is the cornerstone of the contractual and
implied agreements between employees and employers, the underlying assumption is that
money can directly influence behaviour. Many employees and managers believe that
simply increasing what people are paid will make them more motivated, productive and
loyal. The influence of remuneration strategy is an important ingredient in every
organization and that employee performance is a critical issue for many businesses,
because of the need to attract, motivate and retain the right talent pool for a business to
succeed.
The objective of the study was to examine the relationship between performances based
incentive pay and employee motivation in Barclays bank of Kenya branches within
Nairobi City. This study adopted a descriptive survey design. This study targeted 50
managers in the branches in Nairobi City. Primary data was collected using a semistructured
questionnaire which had both open and close-ended questions. The
questionnaire was administered through drop and pick method to avoid interruptions of
the employees’ busy schedule. Data collected was analyzed by both descriptive
techniques like frequencies and measures of central tendency like mean and standard
deviation for the quantitative data while content analysis used for qualitative data. The
information was displayed by use of frequency tables and pie charts.
The study findings indicated that Barclay Bank offered performance based incentive pay.
Pay influenced employee motivation of the bank to a great extent and the benefits were
related to performance. Remuneration and health was motivation programme that they
benefited most in the bank. The study recommends that organizations should motivate
staff by offering small tokens of appreciation and acknowledgement, enhanced job
security, new opportunities for promotions, better performance appraisals, development
and use of new skills and competencies. It further recommends that the financial rewards
need to be of a reasonably significant amount to be an effective motivator. | en |
