Impact Of Motivational Rewards on Employees Essay Example for Free

Impact Of Motivational Rewards on Employees Essay penuryInternal 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 argon the reasons cardinal has for behaving a certain(prenominal) 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 BUSINESSCompanies can motivate employees to do a better job than they otherwise would. Incentives that can be offered to mental faculty include increased afford or meliorate working conditions. Motivational theories suggest ways to encourage employees to work harder. A motivated workforce results inIncreased output caused by extra effort from workers.Improved quality as staff take a greater pride in their work. A soaringer 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 want 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 STUDYReward Systems is a vital aspect of any organization. They can actively engage and reincarnate the overall sense of community and mission of an organization Reward dusts according to Sziligyi 1981, are outcomes or events in the organization that satisfy work related inescapably. Rewards systems are much more than just bonus plans and stock options but slice they often include intrinsic incentives, they also include extrinsic. A well-organized reward system bequeath motivate and energize employees because it recognizes the achievements of employees . Reward system implemented by organization willinfluence employees behavior and attitude towards their job if the rewards satisfy their needs and help them to reach their personal goals. When employees desire to get the rewards, they will change their behavior in order to achieve the minimum level of performance call for by organization.Organizations often design and implement the reward system without linking it with the ultimate improvement of organizations performance .Therefore, the reward system is unable to offer significantly to the performance of an organization Motivation is such a factor that exerts a driving force on our actions and work. According to Baron (1983) motivation is an appeal of different processes which influence and direct our behavior to achieve some specific goal. Motivation depends on certain intrinsic, as well as, extrinsic factors which in co llaborationism results in fully committed employees. Incentives, rewards and recognitions are the prime factors that impact on employee motivation.The factors like incentives and rewards are the most preferred factors for employee motivation programs Rewards is one of the important elements to motivate employees for contributing their best effort to generate innovation ideas that lead to better business functionality and further improvise company performance both financial and non-financially. at once an organizations result is highly dependent on the employees work motivation. It is therefore important for a company to find out what motivates its employees so that it can plan a suitable reward system and gain better results. The right combination of intrinsic and extrinsic rewards can boost up the employees work motivation and get up their commitment to the company.COMPANY PROFILESKASBITKASBIT Private Limited is the parent body of KASBIT that was realized in September 1999, by d int of Registration with Securities Exchange Commission of Pakistan, Government of Pakistan. It is the start-off Private Sector Institute of Higher Education that was registered as a Corporate body. Since its inception, KASBIT has achieved many a mile-stones that advocate its high standard, excellence and quality recognition. KASBIT is undertake by the Government of Sindh and recognised by the Higher Education Commission of Pakistan, which has also awarded the highest category W(4) rating to KASBIT in recognition of the high educational standards that it maintains KASBIT isrecognized by the Higher Education Commission of Pakistan and has been awarded the highest ranking of W(A) under whom the standards of educational institutions are scrutinized and evaluated in Pakistan. KASBIT became a member of the Association to Advance Collegiate Schools of crinkle (AACSB), which is based in the US to ensure the quality and continuous improvements in collegiate management education. KASBIT was certified by ISO in January 2002 in recognition of the high quality control system that it has in place. By this virtue, KASBIT became the first ISO-9001 Certified Degree Awarding Institute in the Private Sector of Pakistan.BAHARIA UNIVERSITYPakistan Navy established Bahria Institute at Islamabad and Karachi in the late eighties. These Institutes were aimed at providing quality and uninterrupted education up to Intermediate level, to the children of naval personnel on their convert from one station to another and in turn to contribute to the cause of promotion of education at the national level. Over the years these Institutes grew in surface and facilities, leading to the starting of BBA and B.Sc(CS) classes in 1995. These programs have since been upgraded to BBA (Hons), BCS (Hons) and MBA, MCS Program which were introduced in Fall 1997 as evening programs run under the management of two independent Institutes one each at Karachi and Islamabad respectively. The institutes are known as Bahria Institute of Management and Computer Science short title BIMCS suffixed with the location i.e. Karachi or Islamabad. ObjectivesBahria University, though very young, has the will and determination to develop and attain the objectives set forth below Ensure academic excellence through quality education in disciplined and peaceful learning environments. Establish Campuses, Research Institutes, Schools and Colleges across the length and breadth of Pakistan to turn population explosion into knowledge based force. Prepare the jr. generation to become future leaders and managers for a prosperous and educated Pakistan, through development of their mental, moral and professional strengths. Ensure academic excellence through quality education in disciplined and peaceful learning environments. Constantly monitor and upgrade facilities and updatethe curricula to keep pace with the emerging trends and technologies. Coordinate and go out facilities for exchange of knowledge and applied research in the newly emerging fields in collaboration with national and international Universities and research institutes. RESEARCH stadiumHuman resource (HR)OBJECTIVEFind out to what extend does employees performance influenced by motivationPROBLEM STATEMENTDecreasing Employees performance satisfaction overdue to lack of motivational factors that drives employees productivity level at its best in educational sector.KEY RESEARCH QUESTIONS1. What Is the Relationship between Employees death penalty and motivation?2. How many types of motivation that drives employees productivity?3. What Is the Effect of Intrinsic motivation On Employees Performance?4. What is the Effect of Extrinsic motivation On Employees Performance?5. What measures can be taken to increase employees motivation level?6. What are the factors behind the low productivity of employee?7. What should be the behavior of employer towards the employees job satisfaction?INDEPENDENT VARIABLESIntrinsic Motivation1 . Recognition2. Learning opportunity3. Career advancementExtrinsic Motivation1. Basic Pay2. Performance BonusDEPENDENT VARIABLESEMPLOYEES PERFORMANCELIMITATIONInsufficient FundsSmall sample sizeTime barrierHardly possibility that organization will provide authentic information regarding their employees Research can take place only within the cityBeing a students its hard to get perfect information regarding their whole scenario of problemDE-LIMITATIONSRespondents will not provide appropriate responseEmployees will feel insecure while sharing their organizations point of view. Time consciousCity situationsSCOPE OF THE STUDYThis study will provide a better understanding to employers who have been lining employees low productivity level they can get a better understanding of how motivational factors can influence an employees performance level that lastly helps in growth of organization. This study will helps organization to increase employees performance through a perfect combination of intrinsic or extrinsic motivational factors. And it can be use in different dimension of business where employers are facing low productivity of employees.HYPOTHESISH1 Recognition has an impact on Employees Performance.Ho Recognition has not impact on Employees Performance.H1 learning opportunity has an impact on Employees Performance.Ho learning opportunity has not impact on Employees Performance.H1 Career advancements have an impact on Employees Performance.Ho Career advancements have not impact on Employees Performance.H1 Basic Pay has an impact on Employees Performance.Ho Basic pay has not impact on Employees Performance.H1 Performance bonus has an impact on Employees Performance.Ho Performance bonus has not impact on Employees Performance.