FACTORS INFLUENCING CHOICE OF REWARD SYSTEM IN DEPOSIT MONEY BANKS IN AKURE, ONDO STATE, NIGERIA

This study aimed to identify the factors influencing the choice of reward system in deposit money banks in Akure, Ondo State, Nigeria. The research adopted a qualitative method in which a Likert Scale well-structured questionnaire was used for data collection. Purposive sampling was used where the researcher targeted participants who possess characteristics or experiences relevant to the study and whose judgement is important to the study. Cluster sampling technique which is a type of simple random sampling was then selected. The population of this study were the 290 employees of Wema Bank, First Bank, Sterling Bank, and United Bank for Africa (UBA) branches which are deposit money banks in Akure. Taro Yamane method was used to calculate the sample size of 168 used in this study. The data was analysed using Relative Importance Index (RII). The major findings of the research indicated that aligning rewards with organizational strategy was the most important factor, followed by organizational culture and values, and employee performance.