PRODUCTIVITY ENHANCEMENT THROUGH TOTAL REWARDS: AN EXPLORATION PRACTICES IN THE FINANCIAL SERVICES SECTOR
PRODUCTIVITY ENHANCEMENT THROUGH TOTAL REWARDS: AN EXPLORATION PRACTICES IN THE FINANCIAL SERVICES SECTOR

Summary/Abstract: The Financial Service Sector is facing significant challenges in employee productivity. In order to enhance productivity amongst employees, total rewards could assist the financial service sector in enhancing productivity. The current study aimed to explore the role of total rewards in productivity enhancement in the financial service sector. The importance of this study is to aid financial service sector organisations in implementing and developing the appropriate rewards systems to fit the need of current employees to ensure perceived productivity. A qualitative approach using thematic analysis employed for the study. The current study’s findings have indicated that total rewards significantly impact employee productivity and that financial and non-financial rewards effectively improve employee productivity. The findings have also indicated that the structure of reward systems and reward systems overall impact productivity. This study provided critical practical guidelines that financial service sector organisations could use to develop and implement a total rewards strategy valued by employees, which enhances productivity.

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