IMPACT OF MOTIVATIONAL REWARDS ON EMPLOYEES
IMPACT OF MOTIVATION ON EMPLOYEES PERFORMANCE
MOTIVATION:
Internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal.
Motivation results from the interaction of both conscious and unconscious factors such as the (1) intensity of desire or need, (2) incentive or reward value of the goal, and (3) expectations of the individual and of his or her peers. These factors are the reasons one has for behaving a certain way. An example is a student that spends extra time studying for a test because he or she wants a better grade in the class.
MOTIVATION IN BUSINESS:
Companies can motivate employees to do a better job than they otherwise would. Incentives that can be offered to staff include increased pay or improved working conditions. Motivational theories suggest ways to encourage employees to work harder.
A motivated workforce results in:
Increased output caused by extra effort from workers.
Improved quality as staff take a greater pride in their work.
A higher level of staff retention. Workers are keen to stay with the firm and also reluctant to take unnecessary days off work.
Managers can influence employee motivation in a variety of ways:
Monetary factors: some staff work harder if offered higher pay.
Non monetary factors: other staff respond to incentives that have nothing to do with pay, eg improved working conditions or the chance to win promotion.
BACKGROUND OF THE STUDY
Reward Systems is a vital aspect of any organization. They can actively engage and renew the overall sense of community and mission of an organization
Reward systems according to Sziligyi [1981], are outcomes or events in the organization that satisfy work related needs. Rewards systems are much more than just bonus plans and stock options but while they often include intrinsic incentives, they also include extrinsic.
A well-organized reward system will
MOTIVATION:
Internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal.
Motivation results from the interaction of both conscious and unconscious factors such as the (1) intensity of desire or need, (2) incentive or reward value of the goal, and (3) expectations of the individual and of his or her peers. These factors are the reasons one has for behaving a certain way. An example is a student that spends extra time studying for a test because he or she wants a better grade in the class.
MOTIVATION IN BUSINESS:
Companies can motivate employees to do a better job than they otherwise would. Incentives that can be offered to staff include increased pay or improved working conditions. Motivational theories suggest ways to encourage employees to work harder.
A motivated workforce results in:
Increased output caused by extra effort from workers.
Improved quality as staff take a greater pride in their work.
A higher level of staff retention. Workers are keen to stay with the firm and also reluctant to take unnecessary days off work.
Managers can influence employee motivation in a variety of ways:
Monetary factors: some staff work harder if offered higher pay.
Non monetary factors: other staff respond to incentives that have nothing to do with pay, eg improved working conditions or the chance to win promotion.
BACKGROUND OF THE STUDY
Reward Systems is a vital aspect of any organization. They can actively engage and renew the overall sense of community and mission of an organization
Reward systems according to Sziligyi [1981], are outcomes or events in the organization that satisfy work related needs. Rewards systems are much more than just bonus plans and stock options but while they often include intrinsic incentives, they also include extrinsic.
A well-organized reward system will