Relationship between Reward Management Practices to Job Satisfaction

This study empirically examines the relationship between rewards and employees job satisfaction in Ethiopian Insurance Corporation. The purpose of this survey essential for organization to have satisfied, competent and committed staff for better chance of meeting the overall objectives and goals. The study used both primarily and secondary source of data. A quantitative research approach of the data collection used and 258 questionnaires were distributed and 224 completed usable questionnaires for response rate of 86.8% returned. Stratifying sampling method was used and employees were selected from each strata with a simple random sampling technique. Data was analyzed using descriptive, correlation and multiple regression analysis. The study result implied that personal growth and advancement is found to have strong positive relationship (r=0.481, p<0.01) with employees job satisfaction, moderate relationship obtained with recognition (r=0.386, p<0.01), working environment (r=0.390, p<0.01), promotion (r=0.386, p<0.01), empowerment, (r=0.227, p<0.01),supervision (r=0.124, p<0.01) . But, Weak relationship is obtained with payment (r=0.124, p>0.05) and benefits (r=-0.011 ,p>0.05).