Impact of reward management on employees performance; commercial private banks in the district of Matara

Abstract

The private banks play a major role in banking sector of Sri Lanka and most of thecustomers rely on private banks. Therefore they have huge responsibility on theircustomers. There is a common view about the customer service quality of the privatebanks is higher than public banks. They always provide a friendly banking service totheir customers and their outcomes and satisfaction level of employees is higher thanpublic banks. The aim of this study is to examine the impact of Reward managementon employee performance. For this study, I selected Commercial Private Banks whichare situated in district of Matara.The target population consisted of 340 employees from five private banks in Mataraand researcher selected 100 numbers of employees as sample by using StratifiedRandom Sampling. Primary data were collected through self-rating questionnaire.Ihe data was analyzed by using the Statistical Package for Social Science (SPSS)version 25.0. Validity and reliability of the questionnaire was satisfactory. The results showedthat there is a strong positive correlation (r= 0.603) between reward management and employeeperformance. According to multiple regression analysis, R square and adjusted R square revealedthe values as 0.603 and 0.565 respectively.Ihe future researches can replicate this study with the sample of large size by coveringa good number of private sector banks in Sri Lanka. As well as multi rater or 360 degreerater measurement scale can be used to obtain more worthwhile findings. Further,suggestions are given to increase the EP through enhancing the RM, where this studyimply that is essential to formulate strategies to promote RM of private bank employeesthrough continues reward systems.