Human resource is one of the important assets that organization owns. Reward helps management to retain efficient and experienced workforce in an organization. This research work examined the impact of reward on employees’ performance with special reference to selected manufacturing companies in Ibadan, Oyo State, Nigeria. Structured questionnaire was used to collect data from one hundred (100) participants through purposive sampling method and data were analyzed by multiple regression analysis with the aid of statistical package for social science (SPSS) version 16. Result showed that reward dimensions jointly predict employees’ performance, which accounted for 71% variance of performance. Subsequently, recommendations were made to the management of organizations that they should buildup the commitment among employees by rewards and achieve both individual and Organizational objectives.