RESEARCH REPORT IMPACT OF REWARD SYSTEMS ON EMPLOYEE ENGAGEMENT (A case study of CHB Rwanda)
This study evaluates how CHB Rwanda employees are engaged in relation to reward systems. The study aims to comprehend the ways in which the availability of reward systems affects an employee's motivation, job satisfaction, and general employee engagement. The study was conducted on a population of 100 employees from different departments and positions, providing a diverse perspective on the effectiveness of reward systems across the organization. A case study design was selected to gain a comprehensive understanding of the connection between employee engagement and reward systems. The sample size used was 80 employees. The sampling techniques used were simple random sampling and purposive sampling. The data was collected using surveys and an interview. The results indicate that the organization has a diverse rewards system with multiple options. The study discovered problems that hinder the effectiveness of the reward systems, such as limited accessibility, lack of transparency, and insufficient reward options. The findings showed that 30.4% of the respondents claim that the rewards are not effective enough, while 2.5% argue that they are totally ineffective. This gap can be linked to the fact that only 8.9% find the rewards accessible, while 72.2% wish for more reward options, and 25.3% wish for more transparency. These findings revealed that it is necessary for the reward systems to be diverse, transparent, and well communicated for them to be effective for improving employee engagement. Among the solutions identified by the study, such as diversifying the reward options, emphasizing effective communication, and adopting simplified policies for the reward system to make them easier to understand and more accessible, CHB Rwanda was recommended a solution of simplifying and diversifying its policies to ensure that the reward system available is well known, accessible, and resonating with the different needs of the employees. The study concludes with actionable recommendations for implementing a reward system that guarantees diversity, accessibility and transparency to meet the needs and expectations of employees more effectively and promotes improved engagement throughout CHB Rwanda.