Abstract

The aim of this study is to examine the effect of non-financial reward on employees performance in presprint plc. The study use the survey research design. Data was collected using questionnaire from 80 workers at presprint plc.

The purposive sampling technique was used in the study. The data was analyzed using both descriptive and inferential analysis. There was a significant positive relationship between all variables (Recognition, Career development and job security) with the dependent variable (Employees performance).

The study recommends that the organization should make sure to handle workers with care. It was therefore recommended that Presprint plc should put in place a system o non-financial reward by allowing workers to participate in their activities, communicating to customers on any decision taken that affect them and promoting performance.

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The non-financial rewards include rewards and recognition, career opportunity, promotion, participation of employees in decision-making and responsibility to identify their impact on employee motivation Harsch and Festing, (2020). These rewards increase employees’ motivation to work by raising their self-esteem and can satisfy their professional ambitions and personal fulfillment. The performance of the employees is stimulated after realizing they are more appreciated and recognized by the organization’s management. The non-financial rewards may be attained through job promotions, awards and acknowledgment, flexible job arrangements, career development and flexible job schedules. Controlling workers’ performance effectively aids a company in increasing earnings and continually fulfilling set objectives, and attaining its visions.One method of adequately managing workers is using rewards Sihombing, et al., (2018).

The non-financial rewards may be attained through job promotions, awards and acknowledgment, flexible job arrangements, career development and flexible job schedule Saleem et al., (2019). Anwar and Abdullah (2021) reported that the longer workers remain in their organizations, the more these understanding, skills, and abilities are appreciated as workers learn and get new skills and expertise to contribute to the company’s human capital. Many researchers reported that it costs an organization more to employ new staff than to keep the existing ones. Considering this it is essential to concentrate more on factors that influence the retention of key workers in a particular organization (Yao et al.,2019). This is because retention assists a company in preventing the loss of competent workers, which might adversely affect output and profitability.

When workers are recognized and well rewarded for their contribution to a company, they feel valued, inspiring them to work more to achieve more Leonova, et al., (2021). They feel that their employers recognize their well-being, self-growth, and career growth. In both the production and the service firms, workers are regarded as the engines of their companies, while rewards act as their fuel. For any company to attain its set goals, they need the input of its workers. Miao and Cao, (2019),discovered that the well-being of an organization is defined by the workers’ desire to put into use their creativity, skills, and knowledge to improve the company’s goals and the company must inspire and grow the positive attributes seen in the employees by establishing proper reward methods.

There is a need to have motivated workers in private and public organizations because of changing needs of stakeholders, limited organizational resources, globalization, and constantly changing technologies. In any organization, regularly rewarded workers are more productive, effective and prepared to work to attain the organization’s goals. Companies can quickly achieve and go beyond set goals when they have highly motivated workers, which gives them an edge over other companies. Matharaarachchi, (2021), observed that the rewards might be categorized into intrinsic, non-financial rewards and extrinsic financial rewards. Huang (2019) found that extrinsic rewards do not always work when motivating workers. They might sometimes work with the reverse of what is expected, resulting in workers being less motivated; therefore, companies need to concentrate more on non-financial rewards. These non-financial incentives may be attained through job promotions, awards, acknowledgment, flexible job arrangements, career development,

Flexible job timetables, etc. Nevertheless, most organizations focus on four non-financial rewards: flexible work arrangement, career growth, worker recognition, and job promotion Sulistiyani & Rahardja, (2018). Intrinsic rewards consist of the role intrinsic, intangible, and non-pecuniary incentives included in the position itself and can include problematic and interesting roles and tasks, not leaving behind career growth opportunities provided to the workers. Organizations have been rewarding workers both financially and non-financially. Ngwa,et al., (2019) disclosed that rewards offer workers freedom and make them feel appreciated and recognized for their performance and contributions. The rewards make the work environment pleasant to work in, frill benefits like leave, that is, additional days off for well-doing workers. Lei,(2021) noted that employees’ work and success in setting goals might be most affected by career progress, workers are able to accomplish gets to decide how well the firm can achieve strategic goals. The measures set as a motivation to the organization’s employees are their own unimportant in this regard Agbenyegah, (2019). To accomplish set targets, human beings are expected to have the right combination of skills and motivation. Whenever somebody possesses an instinctual skill or talent, they can accomplish a shared goal. Unpredictability and a substantial investment are required for the opportunity. Worker quality is an essential need in achieving an organization’s growth and goal and it is affected by the characteristics of reward policies in line with the corporate strategy of such an entity Biruk, (2017).

Employee performance is enhanced in diverse manners. Incentives are paramount to the advancement of human potential, but they have not been adequately taken into account in businesses operating in emerging markets such as Asia, Africa, and the Latin America. It has been noticed that financial reward has a huge effect on organizational performance Achie, and Kurah, (2016), companies are indeed found to give non-monetary remuneration to enhance employee encouragement, but such is limited in several economies around the world. People who are invested in their work and feel loyal to the organization are more efficient. Workers feel more dedicated when they start receiving tangible satisfaction, and consciously have an increase in their satisfaction job. Organizations (particularly in western economies) are rapidly turning to non-monetary incentives (such as proper working order and opportunity for growth) to encourage their employees, which is largely lacking in developing economies such as Cameroon (most especially the public sector). Monetary benefits can sometimes be used to compensate for good management in an organization, but they cannot on their own bring the best out of workers. Workers may become disobedient to lower managers because of working for upper management. Regardless of the fact finding employee training to empower workers might, to a higher degree, assist in boosting worker performance Saleem et al, (2019).

In almost all cases, the lack of training and skill development initiatives results in the management not knowing the skill pool available to them and needed by the workers to perform. A favorable work environment also plays a crucial role in uplifting morale and performance. In addition,Karell et al., (2019) also indicate that giving workers extra work and control of what they are in charge of, appreciation, and acknowledgment of what they have done are rewards and generally improve worker performance Manjenje and Muhanga (2021) noted that non-financial rewards motivate employees; this, in turn, assists in building loyalty and commitment to the companies they work for, which helps in the achievement of goals and increased work performance. Hence, this paper aimed to examine the effect of non-financial rewards on employees performance in presprint plc. providing insights into the relationship between these rewards and employee motivation, and informing strategies to boost employee engagement and business success. every staff requires money to cover their daily living expenses, the majority of long-term employees do not consider money to be an adequate reward for their dedication and sacrifice.

When their employer pays them fairly, people want to be appreciated and receive non-monetary gifts in exchange for good work. Most of the large companies are still looking for means through which staff can be motivated and made to discharge their duties without having any effect on the financial capability of the company Reddy and Karim, (2017). Whatever the amount of an organization strategy, it could only be accomplished through the recruitment and retention of a highly skilled human resource base. Although some researchers feel that a company’s most valuable asset is its human capital, the success of the company’s objectives depends on how well these resources are deployed Armstrong, (2012). Determining the factors that may influence employee performance and productivity is very important because the progress of any entity depends on the organization’s resources and how satisfied they are. Workers will give in their best on the job if they are well rewarded.

However, employee productivity and how well they perform on the job and incentives are connected together Nwokocha, (2016). As a result, it has been noticed that management usually fail to understand that working in a team and other non- financial reward systems can help to improve employee achievement, which will then result in a stratified platform where management teams make the decisions and start imposing them on lower and middle staff members Kushwaha, (2018). Reward or remuneration, whether financial or non-financial is a highly essential factor adopted to ensure the motivation of workers for the exhibition of substantial performance via ideas that are regarded as being innovative. This will trigger improved functionality of business activities as well as the entity’s general improvement from the financial and non-financial standpoint. Employees can be rewarded in ways other than monetary compensation. To motivate employees in Cameroon organizations, as in any other African economy, various non-monetary rewards have been offered. job evaluation, consistent advancement, collective bargaining agreement signing to ensure security, and so forth. Feedback and recognition of good employee performance appear to be challenging tasks in Cameroon but it is essential for the strategy formulation action plan to thrive. The majority of workplace environments in Nigeria do not give consideration to staff to operate flexible work hours, usually, they expect them to resume work in the early hours of the morning, and close very late at night spending several hours in traffic which, means work-life balance, families and social life are not put into consideration (kelfay & Kero, 2019).

The studies that have been written in the literature. As a result, Non-financial incentives are the types of rewards that are not part of an employee’s pay. They are physical or perceptible incentives, and associated element which are used in an organization to encourage workers devoid of direct cash compensation. Perceptible, non-financial motivations denote physical substances which include citations, gift, certificates, clothing, key holders and discounted tickets to access different facilities at the workplace. While the concept of the money as a strong a motivator seems solid, the truth of the matter is that many people do not necessarily consider money to be the top motivator that states that Non-financial incentive has the prospects to encourage workers devoid of cash rewards. Work related non-financial compensations have the probability to induce workers inherently. jobs with different duties, accountability, independence, empowerment and career development prospects are very essential in gratifying workers particular wants and may arrive at a situation that makes the employee feel that the work in itself is noteworthy of putting more energy devoid of the necessity of any outside compensation. There are various types of non-monetary incentives used to motivate staff in organizations.

1.2 Problem Statement

Employee performance refers to the level of achievement or accomplishment of an employee in their job role, encompassing aspects such as productivity, quality of work, job knowledge, initiative, and teamwork. It directly impacts organizational success, influencing productivity, customer satisfaction, and overall business outcomes.

Presprint Plc in Cameroon faces significant challenges in optimizing employee performance, which is critical for achieving organizational goals and sustaining competitiveness in the market (Aguinis, 2019). Despite efforts to improve employee performance, the organization continues to experience suboptimal productivity, high turnover rates, and decreased employee engagement (Khan et al., 2017). Research has shown that non-financial rewards, such as recognition and opportunities for growth, can significantly impact employee performance (Aja et al., 2023). However, Presprint Plc in Cameroon struggles to effectively utilize these rewards to motivate employees, leading to decreased job satisfaction and performance (Nayak et al., 2020).

The inability to optimize employee performance can have severe consequences for Presprint Plc in Cameroon, including decreased competitiveness, reduced profitability, and difficulty attracting and retaining top talent (Armstrong & Taylor, 2020). Therefore, it is essential to investigate the impact of non-financial rewards on employee performance in the context of Presprint Plc in Cameroon. This study aims to address the research gap by exploring the relationship between non-financial rewards and employee performance at Presprint Plc in Cameroon, providing insights into the development of effective strategies to boost employee motivation, engagement, and overall performance (Guest, 2017).

1.4 Research Question

1.4.1 Main Research Question

What is the effect of non-financial reward on employees performance in Presprint plc?

• Specific Research Question

1. How does recognition affect employees performance of presprint plc?
2. What is the relationship between career development on the employees performance of presprint plc?
3. How does job security affect employees performance of Presprint plc?

Read More: Management Project Topics with Materials