Impact of reward systems on employee satisfaction: A case of Freda Rebecca Mine in Mashonaland Central Province

Abstract

This research on the impacts of rewards on employee satisfaction: A case of Freda Rebecca Gold Mine in Mashonaland Central Province was done to assess how reward systems impact employee satisfaction in the mining sector. The study was guided by four research objectives being: to determine the impact of bonuses on employee satisfaction at Freda Rebecca Gold Mine; to establish the influence of career development on employee satisfaction at Freda Rebecca Gold Mine; to assess the nexus between profit sharing and employee satisfaction at Freda Rebecca Gold Mine; and to evaluate the effect of employee recognition and participation on employee satisfaction at Freda Rebecca Gold Mine. This study adopted a quantitative approach guided by positivism, through use of explanatory research design. Structured questionnaires were used to collect data from 54 research respondents, who were either managers or employees of Freda Rebecca Gold Mine. The study established that: an increase in employee bonuses at Freda Rebecca Gold Mine increases employee satisfaction; there is a positive relationship between career development and employee satisfaction; profit sharing has a significant influence on employee satisfaction at Freda Rebecca Gold Mine; and that, employee recognition and participation have a postive influence on employee satisfaction at Freda Rebecca gold Mine. In view of the objectives and findings it can be concluded that reward systems have a positive and significant influence on employee satisfaction at Freda Rebecca Gold mine. In view of research findings the study recommended that Freda Rebecca gold Mine could maintaining its current reward system, consider establishing a reliable system of review of bonuses, increasing the number of intrinsic rewards to complement its current offerings and lastly the possibility of considering getting important knowledge of the possible rewards the company can offer to its workforce.