Essay On Organizational Reward System

PART B

2.0 INTRODUCTION

Every organization is in compentition with other organisations in the same business in other business for recruiting and retaining productive employess. A motivated workforce can be a significant factor in organizational success. When employees are motivated to work at higher levels of productivity, the organization as a whole runs more efficiently and is more effective at reaching its goals. This is in contrast to an unmotivated workforce, who can negatively disrupt an organization and distract employees from their work. For this reason, it is imperative that managers understand the power of reward systems and how they are used to influence employee behavior.

The rewards are positive outcomes that are earned as a result of an employee 's performance. These rewards are aligned with organizational

These literature review discuss primarily on the issue pertaining to the organizational reward system, such

The former is the kind that comes from within the individual, a feeling, being proud over something, feeling content and happy by something that you have done. The later is the type that is brought to you by another person or an organization, and isthe one that will hold our focus through this study. Furthermore, extrinsic rewards can be monetary or non-monetary. The monetary is usually a variable compensation, separated from the salary. It is received as a consequence for extraordinary performance or as an encouragement and it can be either individually based or group based. The conditions to obtain this reward should be set in advance and the performance needs to be