A CASE STUDY OF NON-MONETARY REWARDS AND EMPLOYEE PERFORMANCE IN A PHARMACEUTICAL COMPANY IN KINGSTON AND ST. ANDREW, JAMAICA
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Abstract
The purpose of this study is to determine the impact of non-monetary rewards on employee performance in a case of one of the leading pharmaceutical distribution company in Kingston, Jamaica. The study employed a correlational design and data were collected from 33 of the 60 employees. Data were obtained by way of a validated performance index survey instrument that was modified with permission to facilitate the study (Cronbach ?= 0.772), and these were entered, stored and retrieved using SPSS for Windows, Version 25.0. Descriptive statistics and percentages were employed to present the results using tables and graphs. Factor analysis was used to determine the degree of importance employees placed on selected non-monetary reward, and their influence on performance. The Kaiser-Myer-Oklin value was 0.605 exceeds the recommended value of 0.6 by Kaise (1970, 1974) and the Bartlett’s Test of sphericity (Bartlett, 1954) reached statistical significance (<0.0001), supporting the factorability of the correlation matrix. Most of the items used for assessing non-monetary rewards display relative good-to-excellent internal consistency, which ranged from 0.484 to 0.802 with only two being less than the estimated reliability estimates (? = 0.70) recommended by Nunnally (1967) or ? = 0.6 recommended by Nunnally & Bernstein (1994). The findings of the study revealed that non-monetary rewards have a strong influence employees’ performance. Four non-monetary reward categories were examined for this study. They are organizational benefits, work performance and recognition, career development and work life balance were explored. Organizational benefits were the most dominant non-monetary reward category that has strong relational ties with employee performance (Cronbach ?= 0.802). Career development (Cronbach ?= 0.668) and work performance and recognition (Cronbach ?= 0.599) also had a strong relationship to employee performance.