International Business Management

Year: 2016
Volume: 10
Issue: 19
Page No. 4449 - 4459

Review of Performance and Non-Performance Measures in Payment of Bonuses in Refah Bank Branches in Isfahan Province from the Viewpoint of Financial Managers and Experts

Authors : Parvaneh Pourshivaei and Mohammad Ali Moradi

Abstract: This study aimed to evaluate performance and non-performance measures in payment of bonuses in Refah Bank branches in Isfahan province from the viewpoint of financial managers and experts. The study has applied purpose and is descriptive survey. The population consisted of 206 experts and managers of the Refah bank branches in Isfahan province in December 2015. Sample size was calculated 134 according to Cochran’s formula and the convenience sampling was used. Theoretical foundations were collected using research library and survey method using a questionnaire in the form of five-item Likert spectrum. After distributing and collecting the questionnaires, the analysis of 124 questionnaires was used to evaluate and test the hypothesis. Face and content validity of the questionnaire were reviewed and approved by experts and construct validity was confirmed through confirmatory factor analysis and its reliability coefficient was calculated by Cronbach’s alpha coefficient (967/0). The results showed that the components of performance measures contributed with staff, quality staff, employees, work hard, the monthly performance of staff as well as non-performance criteria contributed significantly more than average in the payment of bonuses to employees of Refah bank branches in Isfahan province. Friedman ranking test results also showed that the role of performance and non-performance criteria had significant difference in bonus payments and the role of performance measures was higher than non-performance measures and among the performance criteria components of “staff monthly performance”, work quality of staff”, “employee’ effort”, “work hard” and “staff skills” rank first to fifth in terms of impact on payment of bonuses to employees.

How to cite this article:

Parvaneh Pourshivaei and Mohammad Ali Moradi, 2016. Review of Performance and Non-Performance Measures in Payment of Bonuses in Refah Bank Branches in Isfahan Province from the Viewpoint of Financial Managers and Experts. International Business Management, 10: 4449-4459.

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