Reward Systems in Business

Most business organisations worldwide are putting little emphasis on reward systems, particularly with regard to employee motivation. This issue has triggered significant debates in the labour sector and among human resource experts worldwide. On the other hand, organisational behaviour specialists like Herzberg and Maslow through their theories argue that reward systems have the potential of significantly impacting employee performance, and in turn organisational performance. This study aims to examine the significance of reward systems, especially in employee motivation, in an effort to highlight major components of a successful reward system. The three research questions, which have been selected to examine the importance of rewards on employee motivation and factors that motivate employees include: One, what is the importance of rewards in employee motivation? Second, what makes employees de-motivated, and what are the impacts of such employees to an organisation? Third, is there a connection between employee motivation and performance? In this study, the researcher has used a survey study, which involved the use of interviews and questionnaires targeting employees of Micro Commercial Components, to evaluate the research questions. Besides that, the researcher has used credible secondary materials to gain full insights to the research topic within the chosen company. The combination of primary and secondary research was used to form conclusions of this study, with an intention of highlighting what makes a successful reward systems, and key features of such systems in advocating for employee motivation in organisation. Finally, the conclusions of this research are based on not only the literature review, but also on the sur... ... middle of paper ... ...mployee Engagement. California, Super Star Press. Sussex Enterprise (1996) Strategic Plan Summary 1995-2001, Sussex Enterprise. Burgess Hill, West Sussex. Teddlie, C, Tashakkori, A, (2009). Foundations of Mixed Methods Research, Thousand Oaks, Sage Publications 4 (4). Torrington, D., Hall, L., & Taylor, S. (2005). Human resource management (6th ed.). Harlow, Essex, U.K: Prentice-Hall. Van Der Velde, M., Jansen, P. & Anderson, N. (2004). Guide to Management Research Methods, Blackwell Publishing, Oxford. Warren, B., (2009). On becoming a Leader. Warren Bennis Inc, USA Werner, S. and Ward S. (2004) ‘Recent Compensation Research: an Eclectic Review’, Human Resource Management Review, 14 (2), pp. 201 – 227. White, G and Druker, J., 2000. Reward management: a critical context. Routledge Publishers. Wright, A., 2004. Reward management in context. CIPD Publishing.