Reward Packages and Employee Performance of Commercial Banks in Delta State, Nigeria

The study assessed reward packages and employee performance of commercial banks in Delta State, Nigeria and determined the effect of recognition on employee performance; the effects of bonuses on employee performance in commercial banks and the effects of health insurance on employee performance in commercial banks in Delta State. The cross-sectional design was used specifically for the survey method. 355 samples were collected from bank employees selected from eight (8) major commercial banks (Zenith Bank, First Bank, United Bank of Africa, United Bank of Africa, Guaranty Trust Bank, Access Bank, Unity Bank, Fidelity Bank and Ecobank) in Delta State were used for the study. The instruments for data collection were research survey method and validated by using Cronbach experimental design and experts in the Department of Business Administration. The reliability of the instrument was established using Cronbach method which yielded co-efficient index as pretest of 0.81. Data were collected by administering 355 copies of the questionnaire of which 342 were retrieved. The data obtained were analyzed using mean, standard deviation, and multiple regressions. The result of the hypotheses tested showed that recognition, bonuses, and health insurance have significant effects on employee performance in commercial banks in Delta State. The study revealed that the facets of reward packages such as recognition, bonuses, and health insurance could significantly affect employee performance in commercial banks in Delta State. It was recommended that commercial banks should consider all factors like recognition, bonuses, and health insurance which have significant effects of employee performance in commercial banks in Delta State. The study contributed to knowledge by revealing the importance of reward packages on employee performance in commercial banks in Delta State.