Investigating employee’s experiences of the pay-for-performance system within the banking sector in Limpopo Province

Abstract

This study aimed to explore the employee’s experiences with the pay-for-performance system within a banking institution in Polokwane, Limpopo province branches. The study was a qualitative research study and was based on the interpretive research paradigm. The literature review aimed to conceptualise compensation and reward, performance management and measurement, performance appraisal, and goal setting. The specific empirical study was to explore the effectiveness of pay-for-performance in the banking sector, to understand the perceptions and experiences of employees towards pay-for-performance and lastly, to make recommendations for improving the pay-for-performance system. Participants were selected using convenience sampling, guided by the participants' availability and willingness to participate in the research. An interview guideline and semi-structured interview questions were compiled to guide the interview process and ensure consistency during data gathering. A total of 10 participants were interviewed on an online Microsoft Teams platform to ensure compliance with COVID-19 regulations in curbing the spread of coronavirus. Data were collected through recording and note-taking and analysed using content analysis. The following themes emerged from the data analysis: employee experiences, employee perceptions of performance bonuses, the influence of pay-for-performance, pay-for-performance barriers, pay-for-performance efficacy, and recommendations to enhance pay-for-performance. Generally, the findings revealed that pay-for-performance was perceived as a great initiative as it motivates employees to perform, and it is a great compensation strategy aimed at rewarding high performance. It was also found to be biased by employees due to managers being subjective when deciding whom to reward for high performance. The study made recommendations to the banking institution to reduce the level of perceived biases or managers’ subjectivity and promote pay-for-performance as a motivational and retention strategy.

Nepokgolo ya dinyakisiso tse e be e le go lekodisisa maitemogelo a basomi ka mokgwa wa go lefelwa go ya le ka moo a somilego ka gona Makaleng a dipanka ka Polokwane, porofenseng ya Limpopo. Dinyakisisiso di shomishitse qualitative method go kwa ka moo batsea karolo ba di bonago ka gona.Dingwalwa tseo di shomishitswego di be di leka go utulla mekgwa ya ditefo, mekgwa ya go lekola ka moo basomi ba somilego ka gona, mokgwa wa go ba hlahloba go ya ka moshomo wa bona le go loga maano a go fihlelela dilo tse dingwe, kudu dinyakisiso di be di nyaka go lekola go shoma ga mokgwa wa go lefela bashomi,go ya le ka mo ba shomilego ka gona go mafapa a go shoma ka maseleng, le go dira ditshishinyo tsa go kaonafatsa mekgwa ya go lefela bashomi go ya le ka moo ba shomilego ka gona. Bakgatha tema ba kgethilwe go ya ka convenience sampling, e lego mokgwa wa go kgetha bakgatha tema bao ba lego gona le go rata go ka kgatha tema. Lenaneo la dipotsiso le ngwadilwe ka mokgwa wa go botsisha potsisho le go dumelela bakgatha tema go bolela ka ba lokologile, go kgonthisisa gore dipotsisho di a swana. Bakgatha tema ba lesome ba tseere karolo ka Microsoft Teams go okamela melawana ya leoba la Covid-19 go thibela dipheteletsano tsa bolwetsi bjo. Go dirisitswe setsea mantsu le go ngwala dintlha tse bohlokwa go kgoboketsa dintlha le go sekaseka dintlha tse bohlokwa. Go tsweletsa dintlhakgolo tse di latelago go tswa go ditshekatsheko: maitemogelo a bashomi,kwisiso ya basomi ka meputso ya go ya leka mo motho a shomilego ka gona, khuetso ya mokgwa wa go putsa go ya le ka mo motho a shomilego ka gona, ditshitisho tsa go tlisa mokgwa wa go putsa go ya ka mo motho a shomilego ka gona,nolofalo ya mokgwa wa go putsa go ya ka mo motho a shomilego ka gona, le ditshishinyo tsa go kaonafatsa mokgwa wa go putsa go ya ka mo motho a shomilego ka gona. Ka kakaretso,dinyakisiso di tsweleditse gore mokgwa wa go putsa go ya ka mo motho a shomilego ka gona ke tswelopele e botse ka ge e hlohleletsa bashomi go shoma ka maatla, e bile ke mokgwa o mokaone wa go leboga bao ba shomago ka maatla. Empa mokgwa wo o laetsa o sekametse ka lehlakoreng le lengwe ka ge baetapele bana le go tsea lehlakore ge ba kgetha bao ba shomago ka maatla. Dinyakisiso di dirile ditshitshinyo go bo ra dipanka go fokotsa mokgwa wa dikgopolo tsa go tsea lehlakore go ba baetapele e le go kwalakwatsa le go thekga mokgwa wa go putsa go ya ka moshomo woo o dirilwego e lego mokgwa wa go hlohleletsa bashomi le go dira gore bashomi ba se tlogele mong moshomo.

Die doel van hierdie studie was om die werknemer se ervarings met betrekking tot betaal-vir-prestasie-stelsel binne 'n bankinstelling in Polokwane, Limpopo provinsie takke, te verken. Die studie was 'n kwalitatiewe navorsingstudie gebaseer op die interpretatiewe navorsingsparadigma. Die literatuuroorsig het ten doel gehad om vergoeding en beloning, prestasiebestuur en -meting, prestasiebeoordeling, sowel as doelwitstellings te konseptualiseer. Die spesifieke empiriese studie was om die doeltreffendheid van betaal-vir-prestasie in die finansiële sektor te ondersoek, die persepsies en ervarings van werknemers ten opsigte van betaal-vir-prestasie te verstaan, en laastens om aanbevelings te maak vir die verbetering van betaal-vir-prestasie-stelsels. Deelnemers is geselekteer deur middel van geriefsteekproefneming wat gelei is deur die beskikbaarheid en gewilligheid van deelnemers om aan die navorsing deel te neem. 'n Onderhoudsriglyn en semi-gestruktureerde onderhoudsvrae is saamgestel om die onderhoudproses te lei en konsekwentheid te verseker tydens die data-insamelingsproses. Altesaam 10 deelnemers is op 'n aanlyn Microsoft Teams-platform gevoer om nakoming van COVID-19-regulasies te verseker en die verspreiding van koronavirus te bekamp. Data is ingesamel deur middel van optekening en aantekeninge en ontleed met behulp van inhoudsanalise. Die volgende temas het uit die data-analise na vore gekom: werknemerervarings, werknemerpersepsies oor prestasiebonusse, invloed van betaal-vir-prestasie, betaal-vir-prestasie-hindernisse, betaal-vir-prestasie-doeltreffendheid en aanbevelings om betaal-vir-prestasie te verbeter. Oor die algemeen het die bevindinge aan die lig gebring dat betaal-vir-prestasie as 'n wonderlike inisiatief beskou is aangesien dit werknemers motiveer om te presteer. Dit is 'n uitstekende vergoedingstrategie wat daarop gemik is om hoe prestasie te beloon. Daar is ook gevind dat dit bevooroordeeld is omdat bestuurders subjektief is wanneer hulle besluit oor wie om te beloon vir hoë prestasie. Die studie het aanbevelings aan die bankinstelling gemaak om die vlak van waargenome partydigheid of bestuurder se subjektiwiteit te verminder en betaal-vir-prestasie as 'n motiverings- en behoudstrategie te bevorder.