Importance Of Reward And Reward

2679 Words11 Pages
INTRODUCTION
Rewards and Recognition can be most powerful weapons to motivate employees, to inspire them and to get good performance. Reward is defined somewhat given for best performance at work place. Recognition is an important feature in retaining hard working employees and for getting performance. Different kinds of rewards and recognition are there to motivate employees, such as cash bonus stock awards, and wide variety of company paid perks.
The first objective of giving Rewards and Recognition is to support and encourage the employees to give ultimate performance. Rewards and Recognition are one of the motivating factors in Human Resources. Rewards and Recognition are provided to make employees to achieve desired goals. Rewards system should be closely related to organizational strategies. These strategies could be designed to faster innovation to provide unique products or services.
Rewards and recognition may be monetary, or non-monetary. Monetary rewards include bonus of cash, stock awards, company provide informal gifts, gift certificates. Non monetary rewards and recognition including compliments, extra time off, official awards, and small charms such as mugs, t-shirts, sets of pens and pencils. Rewards and Recognition are very useful to reinforce good performance
Objectives of the Study:
To study the extent to which the rewards & recognition provided by the Dr. Reddy’s laboratories ltd., towards their employees.
To know the motivation and satisfaction level of

More about Importance Of Reward And Reward

Open Document