The Influence of Employee Monetary Rewards on the Company Performance in Saudi Arabia's Manufacturing Sector

Abstract

This study aimed to analyze the impact of Monetary Rewards on the Company Performance in the Saudi Manufacturing Sector. This sector population consists of organizations working in oilfield services, industrial services, energy, and manufacturing. In particular, the researcher intended to help the practitioners in the Saudi Manufacturing Sector to develop their strategy to enhance organizational efficiency. To do that, the researcher observed the impact of monetary rewards on employees’ performance and how it contributes to the growth of companies. In this context, quantitative and qualitative analyses approaches were used to address the research objectives. The researcher used an explanatory sequential mixed research design which was constructed from web-based survey and semi-structured face-to-face interviews. Accordingly, 578 employees working in different organizations in Saudi Manufacturing Sector participated in the survey questionnaires. On the other hand, for the qualitative part, 30 employees working in panel boards manufacturing factory were purposely selected to participate in face-to-face interviews. Significant relationships were observed from the quantitative analysis then verified using qualitative analysis. Results showed that majority of the participants believed that monetary rewards are significantly motivate their performance which can positively contribute to Company effectiveness and growth.