REWARD MANAGEMENT

Evaluating Reward Management Practices for Employee Motivation

CHAPTER NO 2: LITERARTURE REVIEW

Introduction

Literature review is related to the reading, evaluating, analyzing, summarizing of the articles and books as part of secondary research technique. For this research, the researcher has selected and summarized various scholarly articles and correlated books, in order to know what different authors have prescribed about reward management practices. Therefore, this review of the literature will illustrate reward management practices and strategy, as laid down by prominent scholars and personnel. In addition, the researcher has reviewed various literatures related to rewards such as, monetary rewards, Non-monetary rewards, importance of reward, drawbacks of reward and other rewards etc.

The researcher will focus on planning, organizing and implementing various literature reviews on rewards mechanism, to avail best practices for the organization in accordance with the best returns. The topic ultimately relates to employee motivation, so researcher will also analyze various motivational theories too.

Body

Today, companies consider extremely important the motivation of workers when production is organized. We have seen that there is a relationship between productivity or performance of the worker and the work environment. Motivating employees is difficult, since each individual has their reasons for working and what motivates one person may not be important to others. What seems clear is that the specific reasons the person has an inner disposition to "want or desire to" do something. Companies should look for how you can make your employees want to do something, work harder and better. Motivation depends largely on how people live situations they face, and some people said that managers can significantly influence the behavior of employees, although the motivation is something that lies in Inside the employees. Different studies on motivation at work are aimed at determining the elements and processes that drive, run and maintain the behavior of workers. Two factors influence this behavior and that in turn are interrelated:

Job characteristics.

The characteristics of the individual.

Job characteristics refer to those conditions that have labor activity, both as regards the task itself (job content) as those surrounding the conduct of the activity (work context). Individual characteristics are very important when introducing motivators, because each person has a different reason to work, and besides, they vary with age, sex, marital status and other circumstances that occur throughout life. Work motivation is an extrinsic component, which is influenced by the satisfaction that a worker receives in wages, improved social status, relationships, security, stability, do work, and other intrinsic, which is due to characteristics of the activity (the person is or is not doing its job).

Higg´s Model of Total Reward Framework

This model addresses the effects of tangible rewards on the perceptions of employees within a company. Work place culture has evolved to significant extent and employees go for tangible rewards in jobs these days. The first idea that comes to their mind while reviewing a job package is that “what does the job hold for me?” A review of the literature shows that at the time of empowerment, where organizations ...