Essay on Impact of Reward System on Employee Motivation

3822 Words Sep 10th, 2011 16 Pages
CREATING EFFECTIVE ORGANIZATION (SECTION: 2)

“IMPACT OF REWARD SYSTEM ON EMPLOYEE MOTIVATION”

SUBMITTED TO: SIR RAZA NAQVI

SUBMITTED BY: (Group#6)
Shazia faiz (MM111119)
Zainab Hassan (MM111027)
Robeela qayyum (MM103070)

DATE: 22 JUNE 2011

“IMPACT OF REWARD SYSTEM ON EMPLOYEE MOTIVATION”
Shazia Faiz, Zainab Hassan
Robeela Qayyum

Abstract
The purpose of the study was to investigate and analyze the impact of reward system on employee motivation and how well the current reward system was helping to generate employee motivation. Employees can be motivated on the job by many things such as intrinsic rewards (recognition, autonomy, responsibility, importance) and extrinsic rewards (pay, promotion, bonus,
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With these motivators employees are able to form a perception of how much their organization values them, and they are also assess their own self-worth, it boost the employee to work harder and better. For managers to successfully motivate their employees there is a need to determine the appropriate and the sufficient motivation factors to use. Research objective are 1- To find out the relationship between rewards and employee motivation 2- To find out the contribution of current reward system to employee motivation Significance
Importance of motivation can’t be denied in any field of life, especially in services sector including health, education and banking. As for as banking sector is concerned motivation is very important because of its nature of work, there is more routine and systematic activities, involves more computerized data entry. Due to complex work procedure and long timings, employees consider their job a burden, so one formal system of rewards is not enough, as it becomes a part of routine activity and nothing more than that, a new reward system is need to be introduced by organizations, especially by banks in public/ private sector, will not only motivate its employees but it will be a source of increasing their good will. The findings of this study would be a source of improvement in

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