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Even though the education industry is concerned with knowledge generation, research has overlooked the link between reward management and organisational performance. This paper tests for a link between elements of reward management and performance of Busoga University. Survey data were collected by the use of a questionnaire distributed to a sample of 196, and analysed using Pearson’s product moment correlation coefficient and hierarchical regression methods. Results show a statistically significant link between both monetary and non – monetary rewards types and performance of Busoga University. The results suggest that organisations that adopt elements of a combination of monetary and non – monetary rewards perform better than those that do not.