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FINANCIAL REWARD AND WORKERS HARMONY OF CONSTRUCTION FIRMS IN PORT HARCOURT
Abstract: The purpose of this study was to examine the relationship between the financial reward and workers harmony in construction firms in Port Harcourt. The study adopted cross- sectional survey research design. The target population of the study is 439 which constitute twelve (12) selected construction companies in Port Harcourt. Data for the study was collected through structured questionnaire. The Five (5) point Likert scale was used to measure responses from the respondents. Data was analyzed using mean and standard deviations with charts to displayed the study variables, while inferential statistics such as the Spearman rank order correlation coefficient statistics technique was used to test the hypotheses with the aid of statistical package for social science version 23.0 for the purposes of examining the nature and proposed associations. The results of the study showed that there was a positive and significant relationship between financial reward and workers harmony. Consequently, the study recommends the following: Structured process for financial reward increase should be collectively agreed and the terms and conditions under which it will be possible well spelt out. Employees’ salaries should reflect the prevailing economic and market realities in the economy to avoid strike actions, grievances and other practices inimical to the business. Incentive programs should be based on individual performance and business/goal driven.
Keywords: Competitive Reward Strategies, Financial Reward, Non-Financial Reward, Workers Harmony, low Grievance, Absence of Strike