Examination of the Effect of Remuneration on Performance of Private Sector Employees: A Case Study of Trade Kings Limited

The study examined the effect of remuneration on employee performance in the private sector, focusing on Trade Kings Limited. The main objective was to investigate how various components of remuneration such as salary, rewards and compensation, and benefits impact employee performance. Using a questionnaire, data was collected from a sample of 50 staff members. A descriptive cross-sectional research design was employed, with a stronger emphasis on quantitative analysis. The findings revealed that competitive basic salaries significantly impact employee performance, with 76% of respondents agreeing that their current salary affects their performance. Additionally, 60% indicated that rewards and compensation motivate them to improve their performance. However, many employees expressed dissatisfaction with the rewards and compensation practices, suggesting a need for improvement. Notably, 88% agreed that benefits positively influence their job performance. The salary significantly affects employees, impacting the financial stability, well-being and job satisfaction, as well as the ability to meet basic needs and participate in social life. Despite the majority acknowledging the influence of remuneration on performance, the overall organizational performance was rated as fair. The study recommends that Trade Kings Limited establish a competitive salary structure and conduct a comprehensive review of its benefits and rewards compensation package to enhance employee motivation and performance.