TOPIC– ANNOTATED BIBLIOGRAPHY
- Adeosun, O. (2013). Effective Reward System and Workers’ Productivity under Dynamic Socio-Cultural and Legal Environment in the Selected Nigerian Insurance Industry. ALLEVIATION, INCOME REDISTRIBUTION & RURAL DEVELOPMENT IN DEVELOPING COUNTRIES, 402.
This journal is a reflective study of management sciences and humanities. The journal (pg-402) summarizes the study of the effect of the reward system on the worker’s productivity in a selected range of insurance companies of Nigeria. Altogether around 150 questionnaires were distributed for research, out of which only 105 were considered relevant for analysis. This was done by using SPSS system, version 19.0. The results indicated on the presence of a positive form of relationship that exists between an effective reward system and a worker’s productivity. However certain recommendations were to be made in terms of improving the existing form of reward system as it did not guarantee, the productivity in the long run. It was recommended by the research respondents, to the management, the stakeholders and the Government to improvise regulators in order to give proper reform suggestions to the entire system to improve the effectiveness, so that it meets the expectation, and aspirations of the workers, in this sector, to attain remarkable growth, in the economy of the country and the organization respectively.
Keywords- enhancement of productivity, growth in the organization.
- Galanou, E., Sotiropoulos, I., Georgakopoulos, G., & Vasilopoulos, D. (2011). The effect of reward system on job satisfaction in an organizational chart of four hierarchical levels: a qualitative study. International Journal of Human Sciences, 8(1), 484–519.
Reward systems are the most significant factors of human resource management. It has been observed that various theorists, academicians, practitioners, and managers evaluate the important issues related to the rewards. It has been understood that job satisfaction, is one of the most important terms related to the similar body of literature. Job satisfaction is a key driver in providing a sense of pleasure, and fulfillment in their jobs. These are the feelings which in return, make people more productive, creative, and eventually profitable for the organization. This feeling of job satisfaction further strengthens the level of commitment, and a sense of loyalty, of the employees with that of the organization. This is of utmost importance in present situations of working, where organizations are seeking competitive advantage particularly through its people. The main objective of the journal is to create a correlation of the perceived job satisfaction with that of the reward system, completely based on the qualitative research. Furthermore it has also been analyzed how the differences in the reward system affect the motivational factors of employees, and in turn affects productivity and growth, with respect to the four hierarchical levels in the organization. Furthermore behaviors, attitudes, performances and how these are related to employment performances.
Keywords- organizational behavior, Job satisfaction, reward system
- Tariq Dar, A., Bashir, M., Ghazanfar, F., & Abrar, M. (2014). mediating role of employee motivation in relation to post selection HRM practices and organiztional performance. International Review Of Management And Marketing, vol-4(3), 224-238.
The main objective of the Journal is to understand the relationship between employee motivation and various post selection HRM practices and the perceived level of performance of some of the Islamic banks operating in Pakistan. The survey was conducted on over 200 employees and primary data was collected, through a structured questionnaire. The demographics of the respondents were much diversified depending on the age, gender, designation, qualification, years of expertise and it was seen that there was a direct correlation between HRM practices like training and development, performance evaluation, appraisal, extrinsic and intrinsic reward system on the perceived performance of the banks. Analysis of hierarchal regression supported the fact that there happens to be a positive effect of good post selection HRM practices on enhancing the overall morale of the individual, working in the company and effects the overall productivity of the organization as a whole. Organizations who are looking forward to increase their productivity should focus more on improving the need based training programs, merit based appraisal system, develop the process of progressive paths of careers, and employee motivational factors should be given paramount importance, as it has been found that an effective reward system always works in favor of increasing the productivity of the organization.
Key words- post selection HRM fuctions, organizational performance, employee motivation , rewards
- Hussain, S., Rizwan, M., Nawaz, M., & ul Hameed, W. (2013). Impact of Effective Training Program, Job Satisfaction and Reward Management System on the Employee Motivation with mediating role of Employee Commitment. Journal Of Public Administration And Governance, 3(3), –278.
This journal has been designed to advocate the fact that effective training need identification, followed by a good training procedure would ensure that productivity and growth of the organization remains. The first step of implementing a good training, would be to design a job description and finding out the missing links of the person’s capability with that of the job description. A good training and development program would ensure that the employee has better understanding of his job roles and responsibilities. Furthermore if this is backed up by a good reward system, the performance enhances and the employees become more dedicated and competitive. All these endeavors from an employer’s part ensure the motivational content of the employee is restored at all times, and they give their best in whatever they do. It has also been researched to find what factors of reward system do employees look forward from their organization, and surprisingly the results are a mixed one. Almost majority of the respondents felt that the organization should be unbiased in their rewards and recognize the individual solely on the basis of merit, and more than monetary rewards it is the recognition of their efforts that employees look forward too more.
Keywords- job design, employee satisfaction, and implementation of reward system.
- Lin, W. (2014). The impact of Organizational Reward System and Motivation Factor to Employees Knowledge Sharing Behavior.
Innovation is one of the most important elements that are effective tools for survival and sustainability for any organization. It was found that personal innovation formed by cognitive abilities such as character of an individual, his knowledge, his inner motives, and lead to the overall organizational innovation. In an organization, when working as a team, innovation is influenced by characteristics of the team, and other factors. When creative ideas as a whole are generated in the context of an organization, the employees are more affected by their work environment, and the reward system plays a major role in this perspective. Increased amount of team support in an organization will lead to the creation of an environment wherein the employees can receive continuous support and other forms of encouragement, praise from their organization or superiors. This would in turn develop a climate for further innovation, and more creativity and growth of the organization as well as that of motivational factors, within individuals.
Keywords- organizational behavior, job satisfaction, and reward system.
- Navcinovi’c, I., Galeti’c, L., & vCavlek, N. (2009). Corporate culture and innovation: implications for reward systems.
Continuous improvisation and innovation is the mantra for success particularly if an organization has to remain competitive, and attain sustainability and profit. There are various factors that influence the rate and factors of innovation of a firm. Amongst all other factors, corporate culture has been identifies as the most important factor determining the innovation of a firm. However just the contribution of an effective corporate culture cannot bring in innovation, but an equally supportive reward system too has a major role to play in the system. Three sets of HR practices that have been identified as a means to support the ongoing process of innovation oriented in the Hr system perspective are, a thorough emphasis on the skills and enhancement of the human capital and its investment. The introduction of a performance based system of rewards, to highlight the contributions of employees towards the innovation of the organization, and finally investing on developing a team, which has leadership qualities. Hence we understand the correlation of corporate culture and innovation with the implications of an effective reward system.
Key word- corporate culture, innovation and reward system.
- Zingheim, P., Schuster, J., & Dertien, M. (2009). Compensation, Reward and Retention Practices in Fast-Growth Companies. Worldatwork Journal, Second Quarter 2009, 18 (2), 22, 39.
The study has tried to feature the different practices of management with respect to retention and reward practices in organizations. Interviews were conducted and the application of all the mentioned techniques could prove to be beneficial to small to midsized companies. Reward systems were the pillar of strength of all strategies considered. In fact, all executive leaders in the surveyed group of companies were adapting means of compensation, and reward, and other retention practices, to meet the changes in the talent management needs. They were slowly letting go of all practices that were no longer providing solutions or value to the system, and were slowly shifting their focus to initiatives that would ensure a full-fledged and solid growth to the company. They were supporting the need to change the trademark systems of rewards and make breakthrough changes in the structure of compensation, fringe benefits and other reward systems, the need to introduce merit based performance appraisal system, all of which would ensure the retention of the employees, and foster the development of growth and innovation in the organization.
Keyword- retention strategies, reward system, revision of compensation structure.
- Danish, R., & Usman, A. (2010). Impact of reward and recognition on job satisfaction and motivation: An empirical study from Pakistan. International Journal Of Business And Management, 5(2), 159.
Human resources are the most important among all other resources in the organization. Motivated employee strength can bring about a lot of changes in the environment of an organization and contribute for the overall value and profitability of the organization. The present study aims in justifying the relationship between reward, recognition, and motivation. Here there were about 250 respondents with self administered questions, 220 were taken as the object of study to understand what factors of a reward system ultimately help in motivating the employees towards sustainable growth and profitability. We have also tried to understand how the growth of an organization is dependent on certain reward systems, and how policy makers should keep the factors in mind and design the reward systems likewise. It was seen that people had the maximum affinity towards incentives, recognition programs, awards, as the most rewarding measure to boost an employee’s motivation towards work.
Key words- work motivation, job satisfaction, recognition techniques and rewards.
How might the implementation of an effective reward system drive innovation, growth and productivity?
Reward systems are the most important guiding factors of a performance. However they too have their implications nowadays as being a key driving force to enhance growth, innovation and productivity of an organization. From the various sources that we have seen we can infer that rewards help in boosting the morale of an individual and works in favor of instilling in him a sense of belongingness and accountability towards the organization. Reward systems in the form of revised compensation packages, recognitions, dry promotions, and incentive schemes, award ceremonies where talent is acknowledged, credit based performance appraisal system, and complete eradication of the biased approach towards appraisal should be implemented.
Reward systems make people more creative, enthusiastic and positive towards their work. They acknowledge the organization, and feel proud about their association with it. More and more Hr policies are now designed to value the human resource capital, and are investing more on training needs, to enhance the productivity, as a whole. A completely new approach in understanding the job responsibilities of a given designation, reviewing it and designing it in the most appropriate way to attract the best of talents, and then train them and finally evaluate their performance is the most structured approach towards implementing HRM policies nowadays. Motivation is also a key driver to ensure that employees give their best. It is the organization’s responsibility to understand the requirements of the employee and ensure that they are met.
Continuous improvement is the key to survival in today’s competitive world. And in order to achieve innovation, an organization has to strive hard to maintain its workforce. To maintain the workforce, people have to design reward systems, to improve participation on part of the employees, engage them more in all activities, and tune them more to the functioning of the organization, take their opinions on how to improve reward systems, what recommendations would they suggest, and whether they are satisfied with the current way of reward systems. In this endeavor they would feel that the organization values their opinions and gives them a sense of belongingness towards the organization.
References-
Adeosun, O. (2013). Effective Reward System and Workers’ Productivity under Dynamic Socio-Cultural and Legal Environment in the Selected Nigerian Insurance Industry. ALLEVIATION, INCOME REDISTRIBUTION & RURAL DEVELOPMENT IN DEVELOPING COUNTRIES, 402.
Danish, R., & Usman, A. (2010). Impact of reward and recognition on job satisfaction and motivation: An empirical study from Pakistan. International Journal Of Business And Management, 5(2), 159.
Galanou, E., Sotiropoulos, I., Georgakopoulos, G., & Vasilopoulos, D. (2011). The effect of reward system on job satisfaction in an organizational chart of four hierarchical levels: a qualitative study. International Journal Of Human Sciences, 8(1), 484–519.
Hussain, S., Rizwan, M., Nawaz, M., & ul Hameed, W. (2013). Impact of Effective Training Program, Job Satisfaction and Reward Management System on the Employee Motivation with mediating role of Employee Commitment. Journal Of Public Administration And Governance, 3(3), –278.
Lin, W. (2014). The impact of Organizational Reward System and Motivation Factor to Employees Knowledge Sharing Behavior.
Navcinovi’c, I., Galeti’c, L., & vCavlek, N. (2009). Corporate culture and innovation: implications for reward systems.
Tariq Dar, A., Bashir, M., Ghazanfar, F., & Abrar, M. (2014). mediating role of employee motivation in relation to post selection HRM practices and organiztional performance. International Review Of Management And Marketing, vol-4(3), 224-238.
Zingheim, P., Schuster, J., & Dertien, M. (2009). Compensation, Reward and Retention Practices in Fast-Growth Companies. Worldatwork Journal, Second Quarter 2009, 18 (2), 22, 39.
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