Monetary Incentives and Employee Performance in Manufacturing Firms: A Case Study of General Plastic Nigeria Limited, Port Harcourt

The aim of this study is to ascertain the relationship between monetary incentives and employees’ performance in manufacturing firms: insights from general plastic Nigeria Limited, Port Harcourt. The study brought to fore the effect of monetary incentives to organizations. Clearly monetary incentives is one technique by which employers use to carry out their end of the employment contract, that is, rewarding employees for their efforts. The escriptive survey research design was used to describe monetary incentive packages on employees’ performance. The sample size employed 120 respondents from ‘General Plastic Nigeria Limited, Port Harcourt’. Questionnaires were administered to the sampled population for primary data and key information which is needed for this study. Since the population was relatively small and accessible, a census approach was employed meaning that all 120 firms were included in the study. To provide equitable representation among various departments and job types in the company, the stratified random sampling technique will be used. The main instrument for data collection will be a structured questionnaire designed based on the study’s objectives. The hypotheses will be tested, and the significance and strength of the relationship between monetary incentives and employee performance will be ascertained, using inferential statistics, specifically regression analysis and Pearson Product Moment Correlation (PPMC). The Statistical Package for Social Sciences (SPSS) version 26.0 will be used for all analyses, and the significance level for the results will be set at 0.05. Findings show that financial incentives are still a crucial strategic tool for manufacturing companies looking to achieve higher employee performance. the study recommends that management should make sure that pay increases reflect the contributions, experience, and skill levels of staff members.