Reward Management System and Employee Performance in Nigeria Deposit Insurance Corporation (NDIC), Abuja

In every organization, employee performance is the fundamental aspect of organizational performance. In realizing that, a very good working reward system well help enhance employee performance. Confusion mostly arises in organization due to administering fair rewards. This study evaluates the “Impact of reward system on employee performance in Nigeria Deposit Insurance Corporation Abuja”. The study adopted the survey research design where questionnaires were administered to the staff of the organization. The sample size of the study was 323 respondents from NDIC Abuja and the response rate was 100%. The study used spearman rank correlation and multiple regression analysis technique to analyze the data collect from the field. The correlation analysis. The correlation analysis showed that correlation was positive in all dimensions of reward system, which implies that reward system and employee performance is positively related. The regression analysis shows that a 1% increase in recognition will lead to a 67.4% increase in employee commitment to work when all variables are held constant. 1% increase in salary will lead to 2.5% increase in employee commitment when held constant and 1% increase in promotion will lead to a 21.8% increase in employee commitment when all variables are held constant. That promotion and recognition have significant impact on employee performance. While salary is positive but statistically insignificant. The study showed that all independent variables have a significant and positive relationship with the dependent variables. This research recommended that promotion of hard-working staff should be accelerated and it also recommended that NDIC should recognize their hard-working staff using techniques like staff of the month, price and gift can be used to recognize hard working staff.