Advantages Of Reward

Rewards display all the substantial advantages and procurements an employee acquire as a piece of "occupation relationship”. Work prizes show the advantages, specialists get from their working environment and are viewed as the determinants of occupation duty and fulfillment (Pipiras, Taqqu, & Levy, 2004). ‘Rewards’ is characterized as all the money, non-money and mental installments gave by an organizations consequently of their commitment. It was found that monetary motivations are not generally invited by all representatives and material motivators by and large don't have a tendency to fulfill the essential mental needs and perceive the individual change. Rewards are currently more than old idea of getting pay checks following a week, rather

Indeed adopting a TR approach implies that “each aspect of reward, namely base pay, contingent pay, employee benefits and non-financial rewards, which include intrinsic rewards from the work itself, are linked together and treated as an integrated and coherent whole" (Armstrong & Stephens 2005: 13). Consequently, this approach provides a much broader perspective of the traditional compensation package and leads to the consideration of the whole employees package as a "bundle" (Bloom & Milkovich 1996) of total

(Armstrong and Murlis, 31). Non-financial motivators are powerful in themselves but can work even more effectively if integrated with financial rewards in total reward process. However, it is important to remember that the needs of individuals vary almost infinitely depending upon their psychological makeup, background, experience, occupation and position in the organization. These process need to be ‘customized’ to meet the needs of both the organizational and the people who work there. But this customization will take place more effectively if judicious use is made of research on what people value and feel rewarded with. The obvious way to find out what people want would be simply to ask them what rewards they value (Armstrong and Murlis,