Abstract:
The purpose of the study is to examine the contribution of employees motivation on financial performance of insurance companies in Rwanda. Case of Bank of Kigali Plc (2020-2023). The specific objectives of the study are to analyse effectiveness of financial motivation, examine the level of financial performance and to find out the relationship between employees motivation and financial performance of BK General Insurance Ltd. The data were collected through questionnaire, interview and documentation techniques with sample size equal 46 selected from 84 employees of BK General Insurance Ltd. The data were analyzed statistical using SPSS with mean, Standard deviation and correlation. The findings shows that employees in BKGI Ltd Receive a proper salary in proportion to one's dedication and performance as the mean (M = 4.24), this implies excellent extent. It is evident that salaries and performance is proportional in BKGI LTD. Employees motivation that is efficient and effective at moderate extent as it is indicated by the mean (M = 3.96). Majority of the respondents have indicated that the employees motivation is ranked at moderate extent. Where employees perceive BKGI LTD 's health insurance benefits positively, with a high mean score of 4.32 and relatively low standard deviation (0.68), indicating a strong consensus on the comprehensiveness of health benefits. The retirement benefits provided by BKGI Ltd also receive positive feedback, with a mean score of 4.10 and moderate standard deviation (0.75), indicating generally satisfactory perceptions among employees. BKGI Ltd had made increment net operating income which varied in year 2020, net operating income in 2021 was at rate of 56% net operating income, in 2022 has increased by 4%, in 2023 has increased up to 11% compared on the previous years. For all these variations of year, there has been the increment even though effective of employees motivation, BKGI Ltd has increased its net operating income by collecting revenues in various sources and employee motivation tools are inclusive. The researcher recommends that BKGI LTD should create a favourable environment workplace feeling improvement. This will lead to better performance often leadsto improved productivity and BKGI LTD should initiate proper plan for staff development.
