Performance Appraisal and Employee Reward System in Organizations: A Case Study of Zenith Bank Plc, Udoudoma Avenue Banking Layout, Uyo (2020 - 2025).
Abstract Employee performance appraisal and reward systems play a critical role in enhancing productivity, motivation, and job satisfaction in organisations. This study examines the relationship between performance appraisal and employee reward systems at Zenith Bank Plc, Udoudoma Avenue Banking Layout, Uyo, covering the period from 2020 to 2025. A descriptive survey research design was adopted, utilising questionnaires, interviews, and performance reports to collect data from 120 employees across different job levels (senior management, mid-level managers, and frontline staff). Inferential statistical analysis, including t-tests, correlation, and regression models, confirmed that structured performance reviews significantly improve productivity (p < 0.001) and that monetary rewards have a stronger impact on employee satisfaction (β = 0.75, p < 0.001) than non-monetary incentives. The findings reveal that a structured and transparent appraisal system enhances employee motivation, with 65% of respondents perceiving it as fair. Furthermore, 85% of employees prefer monetary rewards, hereby establishing a strong link between financial incentives and increased productivity. However, 40% of employees cite favouritism in performance evaluation, highlighting a major challenge in the existing system. It was recommended, among others, that improving transparency in appraisal criteria and aligning rewards with performance outcomes will enhance fairness and efficiency. These improvements can enhance overall employee engagement and workforce management at Zenith Bank.
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