They are sometimes used by companies strategically in order to gain a competitive advantage over other firms Chiang, In addition, another organizational need that will be fulfilled is the one were high performers are rewarded with the competitive nature at work and the promise of rewards for good performance, the organizational will first be able to identify the high performers in the organization and will be able to reward them thus fulfilling the needs.
Base-pay can be established through Literature review on reward management and external equity. They monitor how progressive each worker is and if assistance is needed, they develop the performance capacity through training or the proposal of rewards for the best performer.
The Mediating Effect of Performance Management. Reward management has shifted dramatically over the years from a micro-behavioral approach to a more large-scale or stratgeic management orientation Chiang, Another important aspect of performance pay is through training and development.
Journal of Public Administration Research Theory. There are three popular payment used 1. Linking reward strategies to business strategies, lack of assumption about what employees value and never underestimating the importance of the work environment are the three principles that Estes, thinks should be considered when preparing a reward strategy.
Innovative reward systems for the changing workplace. Retrieved Mayfrom www. In addition, companies have emphasized the significance of non- financial rewards including praise, promotion, alleviation of boredom, a sense of accomplishment, to hard working employees within the organisation Guzzo, Reward policies can be no better than the motivational theories and beliefs upon which they are based, indeed reward systems are designed on the assumption that the only thing that motivates people is money.
Compensation adn Benefits Review37 1 Human Relations60 9 Pension Benefits17 9p. Maslow in his theory stated that when a lower need is satisfied, the next higher one takes over to be a motivator of behaviour. Designing and Implementing Reward Programs: Academy of Management Review.
In this study, the different reward theories would be reviewed chronologically, with latest empirical evidences on all sides of the debate. Non- financial rewards play an important role. Social psychologists using experimental methods have found that performance-based pay serves to enhance effort and upgrade workforce quality; furthermore economic theorists have also argued that performance-contingent rewards motivate effort and attract talent when effort and talent are not easily observed Zenger, A reward strategy has to be balanced in order to avoid conflicting goals or needs Spitzer, Monetary rewards have some serious motivational limitations Spitzer, Bhattacharyya Dipak Kumar, PPP should have a good measurement for the performance to the people who is eligible to the plan.
Finding a Better Way. Essential Building Blocks of Total Reward Management In order to establish a reward strategy all elements of the reward management had to be taken in to consideration. Training has its benefits such as the obvious improved performance by the employees, developing group and team skills needed to achieve organizational goals, with training given to employees the motivation level is also increased Mavor et.
Administration Science Quarterly37 2 The desire to excel and pride of ownership gives workers a more lasting satisfaction. Examining cross-national differences in reward preferences. Include strategic human resources management, equal employment opportunity, staffing, talent management and development, total rewards, risk management and worker protection, employee and labor relations.
But in a modern business environment monetary rewards are, fortunately It is evident from the above discussion that reward management plays a very important role in human resource management. This is when individuals are rewarded based on the work they have done.Items for reward management and organisational performance scale were anchored on a five point Likert scale that ranged from 1 (strongly disagree); 2 (disagree); 3 (not sure); 4 (agree), and 5 (strongly agree).
literature review of reward system and performance measurement BUSINESS MANAGEMENT The aim of this chapter is to review related literature on “Reward Systems and Performance Measurement in Nigerian Organizations “with a focus on the latest and most current relevant theoretical positions and models in management literature.
At the beginning of the study, there is a literature review and there are hypotheses concerning the effects of reward management system and motivation on employee performance.
Secondly, theoretical framework is discussed through the effects of reward management system applications and motivation on employee performance. Literature Review Department of Communication Studies Literature Review Below is a review of literature on the uprising topic of employers using social media sites to screen current or potential employees.
Also included is a synopsis of the issue of privacy awareness along with the potential invasion of privacy.
Reward management is further aimed at ensuring internal, as well as external equity. More importantly, it strengthens psychological contract and also for organization to comply with legislation that require organizations to have reward management system (Phil and Cole,p.
). This research will explore the relationship between reward management and recognition in the work place and will give an explanatory detail account of the proximity of the two principles based on previous studies.Download