Yakkatech Executive Summary

Job Design is one of the structural variables in organization management and a rich source of intrinsic rewards, which is the reward that comes from job content as opposed to job context. Intrinsic rewards from Job content motivates and produces behaviours that

It is essential for employees to be satisfied in their job in order to have a happy workplace environment. Having a business where employees are happy boost company morale, and increases job performance because employees experience a sense of fulfillment, belonging and appreciation. This qualitative study was conducted to determine whether or not there is a relation between employee satisfaction and reward systems. Also, to what extent does the reward system influence behavior? This study clearly stated their hypotheses and tested it without bias (Galanou et al., 2010).

The key components to developing effective Reward Strategy is to ensure that there are clearly defined goals to meet business objectives, that the reward programme meets the needs of both the organisation and its employees, and to ensure that this is then supported by effective HR policies. In order to ensure these criteria are met there are a number of factors which influence how reward strategy is developed which include both internal factors within the organisation itself, as well as external factors outside the organisation.

A motivated workforce can be a significant success when employees are motivated to work at a higher levels of productivity. Also this means the whole organization is more effective at reaching it’s goals. Rewards can be a positive outcome when it comes to boosting your organizations self-confidence and higher employee satisfaction. Having a reward system can always be a good outcomes because this shows how much your workers are willing to work to achieving a goal in order to receive something in return. This not only gets things done but brings out another side of your organizations as a whole.

It’s essential that managers understand their employees’ perceptions of the importance and fairness of the reward system and then clearly communicate what needs to be done

As the labor force becomes more highly developed and demanding, rivalry between organizations for talented employees is drastically increasing. It is extremely important that organizations make their company more enticing as an incomparable career opportunity. Instituting a total rewards system into an organization can do much to help it invite the paramount talent available and significantly condense turnover. The longevity of an organization’s employees is contributed to its total reward system. According to Heneman (2007), total rewards is defined as all of the tools, whether intrinsic or extrinsic, offered to the employer that may be employed to attract, motivate and retain employees. This could

This article examined the necessity of changes required to traditional reward systems in order for employees to remain motivated and productive in the workplace (Lawler & Worley, 2006).The changes that must occur are in response to shifting environmental demands, with reward systems and motivational tactics holding exceptional importance to the ongoing success and longevity to the organization. The article then emphasizes the ineffectiveness of traditional reward systems, such as merit pay. This is largely attributed to how merit pay salary increases are small and become a permanent part of an individual’s pay (Lawler & Worley, 2006). As a result, the relationship between pay and performance is weak and not particularly motivating. As a more effective alternative, companies should look to implement reward systems such as bonuses in the form of short-cycle business periods, as they have shown to be effective motivators as well as flexible enough to compensate for organizational changes. Lawler & Worley (2006) concluded that “traditional reward systems lead to lack lustre performance, and that in order to create a high performance organization, companies must employ different reward systems that motivate performance, reward change, and encourage the development of individual and organizational capabilities” (p.5).

KYCRB could tie its current reward system to a performance management system after they creating one in place. The rewards given are tangible and intangible returns that are benefiting and satisfying their employees for example cash compensation. However, the new performance management system will let employees be aware of their performance in the organization and allow them to gain more rewards such a recognition and status, employment and security and learning opportunities for their active and dedicated performance. Nevertheless, with the performance system being fair presents perception of distributive Justice so workers are rewarded base on work. It will increase motivation to perform within the organization. If the environment is a

Therefore, it leads to the conclusion that in this case the main issue is appropriate employees motivation and satisfying job conditions, which could be achieved by choosing right incentives plan. However, sticking to the same incentives plan also might not be a good idea because people usually get used to such things very easily. As it can be seen from Engstrom Auto Mirror Company’s case employee’s motivation and morale can

Another equally important phase that should also be paid attention is the reward mechanism. It is obvious an excellent reward mechanism designed not only raises workers' morale, but also ensures fairness. With an outstanding reward mechanism, workers will do their best to work hard due to the salary reward and other fringe benefits. A not a long ago survey conducted by five major cities in China, such as Beijing, Tianjin, Shanghai and so forth, reveals that rewarding encourages workers' to engage in their job and stimulates their potentials at the same

Reward Management (RM) has been defined as the distribution of monetary and non-monetary rewards to employees in an effort to align the interests of the employees, the organisation, and its shareholders (O’Neil, 1998). In addition O’Neil (1998) also suggests that a RM system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees, ensuring legal requirements relating to direct and indirect rewards are not violated, assisting the company in achieving human resource and business objectives, and ultimately assisting the organisation in obtaining a competitive advantage.

According to Monney (2008), creative thinking benefits the workplace with the development of many innovations and ideas and thus workplace can keep fluid , exciting and fruitful. If companies want to accomplish a great improvement quickly, they cannot work without employees. So the atmosphere of the workplace is of vital importance. An energetic workplace can enhance ability and improve efficiency of employees. However, how to creative a good atmosphere is the question. It is expected that creating a reward and punishment-system and introducing a sort of mechanism which can be fairly handled the workplace are so effective that companies can，in a large extent, motivate their employees to work with high efficiency and contribute more to companies ,thus, benefit companies themselves. Over all, creating a good atmosphere and a reasonable reward and punishment-system is an efficient way to motivate employees.

An incentive pay program can reward employees who continue to produce superior work or encourage employees who already produce good work to best. Sometimes, use an incentive system when employees are lack of enthusiasm of getting down to work and improving things. If everyone in the same job classification gets the same pay, there is no real incentive to do an outstanding job (French, 1990). Various incentive plans used to motivate all employees such as production staff, sales staff, administrative staff and managerial and professional staff on an individual basis. To be improved employee work performance, the incentive pay programs need to be fairly matched with the employees’ expectation. Properly designed and maintained incentive pay program has the potential to increase employees’ productivity and work performance.

Employees are motivated by both intrinsic and extrinsic rewards. In order for the reward system to be effective, it must encompass both sources of motivation. Studies have found that among employees surveyed, money was not the most important motivator, and in some instances managers have found money to have a de-motivating or negative effect on employees.  This research paper addresses the definition of rewards in the work environment context, the importance of rewarding employees for their job performance, motivators to employee performance such as extrinsic and intrinsic rewards, Herzberg’s two-factor theory in relation to rewarding employees, Hackman and Oldman model of job enrichment that

Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to