Reward and Performance Essay Example | Topics and Well Written Essays - 3000 words

Reward and Performance - Essay ExampleIn contrast, survey carried out by Kenneth Kovach depicted that employees ranked good wages fifth among their top tenner job reward factors. Therefore, there go forths to be a difference in ideology of what motivates employees (Kovach, 1995). Motivation revels when in an organisation considers all factors affecting mathematical operation. (Ruebusch, 2003). These factors include individual needs, nature of the job i.e. degree of job gainsay and goal clarity, job design, job security, organisational climate, a sense of personal signifi arsece, stability of conductations, recognition, trust, honest communication, dignity and respect, as well as an equitable reward system which pass on be discussed in great gunpoint in the proposed thesis.The exigency to motivate employees with desirable rewards has hitherto salvaged a significant level of importance this is because rewards can serve as motivators but could also have negative reactions should that supposed merit falls at a lower place employees expectations. Therefore, this thesis seeks to examine the impact of valued rewards on performance in the banking industry utilizing the expectancy theory and two factor theory of motivation framework, while introducing other factors that influence the activity levels of performance.From my critical look into on the literature on motivation, as well as the growing need by managers to acknowledge solutions to the question how do they motivate employees, I disc everywhereed a few conjectures that need to be address and elaborated upon in this dissertation. One aim is to ascertain the impact of valued rewards on individual and organisational performance and its performance on productivity and profitability. Then, conjuring strategies that improvises and sustains performance through the establishment of feedback channels, employee training and a cozy work environment can provide a breeding ground for trust. The examination of oth er variables as well as rewards that affect performance such as the aforementioned job security and recognition among others must be in order so that variables can withstand and make a difference through the visitation of time. Finally, the determination of what rewards employees consider valuable enough to influence behaviour will allow management to be very selective to rewards that can profit the workers.Business organisations still face a lot of difficulties in the area of employee motivation. This poses a dilemma for employees control of other factors of production in order to achieve goals, greater productivity and higher profits. In order to motivate people you must appeal to their deepest desires (Ruebusch, 2003). Managers should not expect a standard compensation plan or incentive program to have the similar effect on every employee. To procure top performance, compensation plans and incentive programs must be deftly shipshape to meet the specific needs of each employee because employees of different ages and generational cohorts have varying needs over time (Jeffords et al, 1997). It has also been observed that extrinsic rewards have effect on employees to work proficiently. Therefore, this study will provide managers within the banking industry with a deeper insight into the needs of todays employees and rein them towards other reward trends which appear to boost employee morale and productivity.As highlighted by Herrera (2002), managers need to be concerned of the creation of workplace conclusion that