The Impact Of Rewards And Recognition Program On Employee Engagement At A Fortune 500 Financial Institution Essay

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The purpose of this cross sectional quantitative study is to explore the impact of a rewards and recognition program on employee engagement at a Fortune 500 financial institution. Specifically, the impact of various rewards and recognition programs utilization was examined and correlated with employee engagement scores. This chapter describes the research method and design used, participant identification and selection process, data collection instruments and definition of the variables. It is proposed that: • H1: Employee engagement index will be positively correlated with the team’s perception of fair compensation. • H2: Employee engagement index will be positively correlated with team’s perception that performance is appropriately rewarded. • H3: Employee engagement index will be positively correlated with the team’s perception of receipt of appropriate recognition (beyond pay and financial incentives) for contribution. • H4: Average volume of team awards received through company sponsored recognition program will be positively correlated with team’s employee engagement score. • H5: Average volume of team awards submitted through company sponsored recognition program will be positively correlated with team’s employee engagement score. Participants The target population for this quantitative study is the North American employees at a global Fortune 500 financial services company. The global organization employs approximately 60,000 employees. This study

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