LASU Journal of Employment Relations and Human Resource Management
(LJERHRM)
ISSN: 2705-3482
Volume 3, No. 1, January 2022
Pages 152-165
DOI: 10.36108/ljerhrm/2202.03.0121
ORGANIZATIONAL REWARD SYSTEM AND WORKERS’ SATISFACTION IN VISTA INTERNATIONAL LIMITED, LAGOS, NIGERIA
DUNMADE, Emmanuel Olaniyi, PhD
Department of Industrial Relations & Personnel Management,
Faculty of Management Sciences, University of Ilorin,
P.M.B, 1515, Ilorin, Nigeria.
dunmade.eo@unilorin.edu.ng
+2348035159320
and
ASA, Kolawole Jayeola, PhD
Department of Business Administration, Elizade University, Ilara – Mokin, Ondo State
kasajidak@yahoo.com
Abstract
In the current world of work, employees are expected to feel highly valued by their employers as they tend to have higher job satisfaction for better work performance in order to meet the organizational goals provided, they are handsomely rewarded. The study assessed the effect of reward system on the workers’ job satisfaction in Vista International Limited, Lagos, Nigeria. A structured questionnaire was the instrument of data collection, while random sampling technic was utilized for the study. The utilized descriptive statistics involved simple percentages and tables, while inferential statistics in the study comprised percentages for socio-demographic factors, Multiple Regression, and PPMC (Pearson, Product Moment Correlation Coefficient). Results indicated a significant effect of pay on employees’ job satisfaction of staff members in Vista International Limited, Lagos (R2=.665, F=884.328, p <.05). It was also established a significant relationship between fringe benefits and employees’ job satisfaction of employees in the organization (N = 114, r = .747 p < 0.05). Further, there was a significant effect of promotion on employees’ job satisfaction of workers (R2=.558, F= 562.525, p <.05). It was concluded that there is a significant effect of reward system on the workers’ job satisfaction in the study area. The study, therefore recommends prompt review of the existing salary scale of the organization’s workers with the current economic situation in the country in order to boost their gratification and commitment to duties.
Keywords: Attitudes; Commitment; Job Satisfaction, Performance; and Reward System.