Impact of reward system on employee's motivation, management homework help

User Generated

cw080906

Business Finance

Description


The topic is Impact of reward system on employee's motivation.

Submission should utilize APA 6th edition guidelines for format and citations, be typed, double-spaced and contain 12-20 pages with the following sections:

* Title Page (1)

* Table of Contents (1)

* Body of Paper - (minimum of 8-10 pages of original thought). Quotations, lists, tables, charts, etc. can be an excellent source of supporting material for the paper however, these are not counted toward the minimum paper length. The paper should include the following appropriately labeled section headers:

* Introduction

* Background and history of the topic

*Application to the Business World

* Conclusion

* Reference Section (1)

* Appendix containing appropriate charts, graphs or tables that support research findings (1-3 pages)

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

hello buddy please have a look at this file. if there are corrections you want done please inform me. Thank you

NAME OF STUDENT
NAME OF TUTOR
COURSE
DATE

IMPACT OF REWARD SYSTEM ON EMPLOYEE’S MOTIVATION.

1

TABLE OF CONTENTS
1.Introduction

3

2.Background

3

3.Application to the business world

7

3.1Why use rewards systems

8

3.2Selection of reward system

9

3.3Total reward system

10

3.4Elements of total rewards

12

3.5Significance of total rewarding

13

3.6Benefits of total rewarding

14

4. Conclusion

15

5.References

15-16

6.Appendix

17-18

2

1. Introduction
Financial reward has been vital in the management of employees performance. But
in the past years other essential features of compensation have come up in order to
offer employers with more purview to reward and hence motivate employees.
The purpose of the research is to show how these rewards affect workers
performance and how the reward system does it.
Here we are going to view the impact of reward system on employee motivation.
The study will review also the different elements the system offers. It will also
review the various rewards used by organizations to reward its workers.
2. Background
According to Nationalencyclopedin ( 2015) reward is “either money or honor that
pays out as compensation, normally as a sign of appreciation or achievement”

3

According to Inc.com Encyclopedia, “reward system points out to programs
developed by an organization in order to reward performance and encourage
employees on individual and/ or group levels.”
The topic of choice is Impact of reward system on employee's motivation. A
reward system is used by an organization to reward employees who have met their
set targets. The system has the following elements namely employee recognition,
performance management, talent development, compensation, employee benefits
and employee work-life balance (Smit, Stanz & Bussin, 2015). A reward system
within an organization will enable it to be able to retain its employees thereby
reducing its employee turnover. The organization can also use the rewards program
during recruitment to attract better talent. This can lead to better results which can
improve the company's revenue. For the organization to benefit from the reward
system, it should communicate the details of the reward system to the employees.
(Smit, W., Stanz, K., & Bussin, M. (2015). Retention preferences and the
relationship between total rewards perceived organizational support and perceived
supervisor support: original research. SA Journal of Human Resource
Management, 13(1), 1-13.)
Why do organization use reward systems? The purpose of reward system is to
boost productivity. Employers who acknowledge workers for their hard work
offers them enticement in order for tem to perform better. Boosting attendance is
4

another thing. This system enables workers to pay attention to their work schedules
and are never absent. Workers being absent from work affects customer services. It
boosts morale. This forms ...


Anonymous
Just the thing I needed, saved me a lot of time.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags