The Role of Financial and Non-Financial Incentives on Employee Performance in NIC Asia Bank and Global IME Bank

Abstract

The productivity of the organization depends on the performance of the employees. The performance of an employee depends on the strength of employee incentive schemes used in an institution. The main objective of this research is to study the effect of incentives and motivation on employee performance at NIC ASIA Bank and Global IME Bank Ltd. It aims to examine the motivational factors that helped banks to grow, and to identify the parameters that have strong influence on employee performance. Therefore, a research is conducted based on the quantitative analysis by taking the opinion of the banks employees. The questionnaire is designed to gather information on the influence of incentives (independent factor) on employee job performance (dependent factor).The target populations for this research were 50 employees of each bank, chosen randomly. The primary data collected from both the banks were analyzed using the statistical analysis software, SPSS. With the help of this analyzing tool, various statistical analyses, such as mean, median, mode, standard deviation, variance, ANOVA-test, correlation, regression, were carried out. The findings revealed that employee performance contributes directly to the performance of the company and the influence of financial and non-financial incentives have a pivotal role into it.