Importance Of Reward And Reward

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Recommended: Employee Rewards and Recognition

INTRODUCTION
Rewards and Recognition can be powerful tools for employees’ motivation and performance improvement. Reward means something given for performance. Recognition is an important feature in retaining excellent employees and for improving performance. Many types of rewards and recognition have direct costs associated with them, such as cash bonus stock awards, and wide variety of company paid perks.
The primary objective of providing Rewards and Recognition is to encourage and motivate the employees to do better performance. Rewards and Recognition are one of the motivation aspects in Human Resources. Rewards and Recognition are given to achieve desired goals. Rewards system should be closely aligned to organizational strategies. These strategies could be designed to faster innovation to provide unique products or services.
Rewards and recognition may be monetary, or non-monetary. Monetary rewards include cash bonus, stock awards, company paid perks, gift certificates. Non monetary rewards and recognition including compliments, extra time off, ceremonial awards, and small trinkets such as mugs, t-shirts, sets of pens and pencils. Rewards and Recognition are very useful to reinforce good performance.

Objectives of the Study:
• To understand the extent to which the rewards & recognition provided by the Dr. Reddy’s laboratories ltd., towards their employees.
• To know the motivation and satisfaction level of the employees through the rewards & recognition provided by the Dr. Reddy’s laboratories.
• To examine the Rewards & Recognition incorporation units multiple industry.
• To offer useful suggestions for improving the effectiveness of Rewards and Recognition.

Scope of the Study:
Rewards and Recognitions are...

... middle of paper ...

...r PharmaCorporate at "Decade of Innovation: India @ Year 1" organized by the Confederation of Indian Industry and the National Innovation Council.
Pharmexcil Award (Gold Prize) for Export Excellence for ‘Outstanding Export Performance for 2010-11’ in the ‘Large Scale Industry’ category.

2010
NDTV Profit Business Leadership Awards 2010
Business Leader in the Pharmaceutical Sector
5th RASBIC (Recruiting and Staffing Best in Class) Awards
Best recruiting evaluation Technique
5th RASBIC (Recruiting and Staffing Best in Class) Awards
Best overall Recruiting and staffing organization of the year
Contact us (Hint :- Address Of the company or plant location “Head Office”)
Dr. Reddy's Laboratories Limited
Door No 8-2-337,
Road No 3, Banjara Hills,
Hyderabad - 500034.
Andhra Pradesh
Tel: +91-40-49002900
Fax: +91-40-49002999
Visit: www.drreddys.com

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