ORGANIZATIONAL REWARD SYSTEM AND WORKERS’ SATISFACTION IN VISTA INTERNATIONAL LIMITED, LAGOS, NIGERIA

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.