Impact of Rewards on Employee Performance: A Case of Indian Oil Corporation, Patna Region

Abstract

Today’s business environment is very dynamic. Competition is hitting up everywhere and to remain relevant in this scenario an organization must have compatible and motivated workforce who can give their best to the organization even in difficult situations .Reward system is an important tool for organization to motivate its employees. This study aims to see the impact of rewards on employee performance of Indian Oil Corporation, Patna region. The study measure the impact of rewards (Intrinsic and Extrinsic) on performance of employee. The respondents were the employees at managerial level and total numbers were 102. Descriptive statistics based frequency tables and graphs were used in the study to provide information on demographic variables. The results are investigated in terms of descriptive statistics followed by inferential statistics on the variables. A total of 115 questionnaires were distributed to employees of the Indian Oil Corporation and a total of 102 employees completed the questionnaire properly. The result indicate that there is a statistical significant relationship between all of the independent variables with dependent variables employee work performance and all the independent variables have a positive influence on employee work performance.