REWARD SYSTEM AND EMPLOYEE SATISFACTION IN FLOUR MILL OF NIGERIA, LAGOS

Abstract

This study investigates the relationship between reward systems and employee satisfaction at the Flour Mill of Nigeria, Lagos. The specific objectives are to assess the influence of financial incentives, ascertain the impact of recognition programs, and examine the relationship between

training/skill development and employee satisfaction. A quantitative approach is employed, utilizing questionnaires as the primary instrument. Out of one hundred and twenty distributed questionnaires, eighty-five were recovered and returned by respondents. The analysis reveals a positive and significant correlation between financial rewards, recognition programs, training and development, and employee satisfaction. These findings are consistent with established empirical research, underlining the pivotal role of these factors in enhancing employee satisfaction. Recommendations include conducting a comprehensive review of the compensation structure to ensure competitiveness and fairness, as well as establishing effective recognition programs that extend beyond monetary rewards to encompass various forms of acknowledgment and career advancement opportunities. These recommendations aim to foster a supportive work environment and promote sustained employee satisfaction at the Flour Mill of Nigeria.