Pages: (42-58 )
Abstract
The real estate sector is vital for a nation's economic growth as it provides housing, infrastructure and employment opportunities which contributes substantially to gross domestic product (GDP). Despite these efforts, there is observable evidence indicating a decline in employee performance metrics. This drop could be linked to insufficient non-monetary incentives, highlighting the necessity for investigation into the effects of non-monetary incentives on employee performance within the real estate sector. The study adopted survey research design. The population comprise of 1,892 employees 10 selected real estate firms in Lagos State, Nigeria. A sample size of 418 was determined using the research advisor’s sample size table. A structured and validated questionnaire was used for data collection. The Cronbach's alpha reliability coefficients of constructs ranged from 0.72 to 0.79. A response rate of 93.30% was recorded. Data were analyzed using descriptive and inferential (multiple linear and hierarchical regression) statistics. The results revealed that non-financial incentives have significant effect on employee performance in selected real estate firms, in Lagos State, Nigeria (Adj. R 2 = 0.715; F (4,385) = 244.959, p < 0.05). The study concluded that non-financial incentives improved employee performance in selected real estate firms, in Lagos State, Nigeria. Therefore, the study recommended that management of real estate firms should adopt a holistic approach to employee incentivization, incorporating a range of nonfinancial incentives alongside financial rewards.
Keywords: Career advancement opportunity, Non-financial incentives, Recognition, Work flexibility,