The effect of monetary reward on staff performance: the moderating role of effective leadership at the komfo anokye teaching hospital, kumasi
No Thumbnail Available
Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
KNUST
Abstract
The study aimed at investigating the relationship between monetary reward and staff performance, the moderating role of effective leadership. The sample size of the study was 200 staff from Komfo Anokye Teaching Hospital out of the 350 population size. The study adopted the structured close-ended questionnaire to collect the data from the respondents. The study used the SPSS version 21.0 to analyse the data and presented in tables showing the means and standard deviation. The study revealed that most of the respondents mentioned that the monetary reward packages available at Komfo Anokye Teaching Hospital are bonuses for staff, overtime pay, extra allowances are awarded for extra performance. Again, most of them mentioned that commission is paid to staff in relation to their job performance. Also, majority of the respondents asserted that wage incentives are provided to the staff in addition to the salaries that are paid to the staff. Lastly, they mentioned that, staffs are paid fringe benefits and retirement packages. The study found out that monetary reward in the organisation has a significantly positive effect on staff performance. This implies that the ability for the management of the staff to motivate staff, continuously provide them with monetary benefits such as incentives, paid leaves, and fringe benefits and retirement packages in order to boost their morale to work effectively and efficiently to meet the organisation’s set standards. The study finally revealed that, effective leadership in the organisation have a significantly positive effect on staff performance. The moderation analysis revealed that effective leadership moderated the relationship between monetary reward and staff performance.