Impact of Rewards Satisfaction on Employee Performance: A Study of Ceylon Pencil Company (Pvt) Limited

Abstract

Human resource is most valuable asset in order to achieve competitive advantage and therefore it is very important to investigate the performance and related factors deeply. Mainly two types of the factors will impact to the performance of the organization and such as extrinsic rewards satisfaction and intrinsic rewards satisfaction. Hence, the main focus of this study is to identify what is the highly influencing factor for employee’s performance among extrinsic rewards satisfaction and intrinsic rewards satisfaction. As well as this study will examine the relationship between extrinsic rewards satisfaction and intrinsic rewards satisfaction and employee performance in Ceylon Pencil Company (Pvt) Limited. The study was conducted among the sample of 60 operational level employees who are working in Ceylon Pencil Company (Pvt) Limited at Peliyagoda. The response rate was 100%. Respondents were asked to indicate their preference on five point Likert scale. Data analysis was conducted by using Statistical Package for Social Sciences (SPSS) with the aid of statistical techniques such as mean, correlation and regression analysis. Findings revealed that there is a positive relationship between rewards satisfaction and employee performance. Intrinsic rewards satisfaction was found to be the most influential. Hence, ways and means to improve employees' intrinsic satisfaction are recommended to HR practitioners and policy makers.