Impact Of Motivational Rewards on Employees Essay

MOTIVATIONInternal and external factors that stimulate desire and energy in people to be continually interested and act to a job, role or subject, or to make an driving to attain a goal. Motivation results from the interaction of both conscious and unconscious factors such as the (1) fervency of desire or need, (2) incentive or reward value of the goal, and (3) expectations of the individual and of his or her peers. These factors are the reasons one has for behaving a certain way. An example is a educatee that spends extra time studying for a test because he or she wants a better grade in the class.MOTIVATION IN BUSINESSCompanies loaferful motivate employees to do a better job than they otherwise would. Incentives that can be offered to staff include increased buy off or improved functional conditions. Motivational theories suggest ways to encourage employees to work harder. A motivated workforce results inIncreased output caused by extra effort from workers. change quality a s staff take a greater pride in their work. A higher level of staff retention. Workers are keen to tolerate with the firm and also reluctant to take unnecessary days off work. Managers can influence employee demand in a variety of ways fiscal factors some staff work harder if offered higher pay. Non monetary factors other staff respond to incentives that allow nothing to do with pay, eg improved working conditions or the jeopardize to win promotion.BACKGROUND OF THE STUDYReward Systems is a vital aspect of any brass instrument. They can actively engage and renew the overall sense of union and mission of an organization Reward transcriptions according to Sziligyi 1981, are outcomes or events in the organization that satisfy work related needs. Rewards dodges are much more than beneficial bonus plans and stock options but while they often include intrinsic incentives, they also include extrinsic. A well-organized reward system ordain motivate and come alive employees becau se it recognizes the achievements of employees . Reward system implemented by organization willinfluence employees behavior and attitude towards their job if the rewards satisfy their needs and help them to reach their individual(prenominal) goals. When employees desire to derive the rewards, they will change their behavior in order to achieve the minimum level of performance required by organization.Organizations often instauration and implement the reward system without linking it with the ultimate improvement of organizations performance .Therefore, the reward system is unable to contribute significantly to the performance of an organization Motivation is such a factor that exerts a driving force on our actions and work. According to Baron (1983) motivation is an accumulation of different processes which influence and institutionalise our behavior to achieve some specific goal. Motivation depends on certain intrinsic, as well as, extrinsic factors which in collaboration resul ts in fully committed employees. Incentives, rewards and recognitions are the prime factors that impact on employee motivation.The factors like incentives and rewards are the most preferred factors for employee motivation programs Rewards is one of the important elements to motivate employees for contributing their best effort to generate innovation ideas that lead to better business functionality and further improvise company performance both financial and non-financially. Today an organizations result is highly symbiotic on the employees work motivation. It is therefore important for a company to find out what motivates its employees so that it can plan a suitable reward system and gain better results. The right combination of intrinsic and extrinsic rewards can boost up the employees work motivation and enhance their commitment to the company.COMPANY PROFILESKASBITKASBIT one-on-one Limited is the parent body of KASBIT that was established in September 1999, through Registration with Securities & Exchange Commission of Pakistan, Government of Pakistan. It is the first Private Sector install of Higher reproduction that was registered as a Corporate body. Since its inception, KASBIT has achieved many a mile-stones that advocate its high standard, excellence and quality recognition. KASBIT is Chartered by the Government of Sindh and recognise by the Higher Education Commission of Pakistan, which has also awarded the highest category W(4) rating to KASBIT in recognition of the high reproductional standards that it maintains KASBIT isrecognized by the Higher Education Commission of Pakistan and has been awarded the highest ranking of W(A) under whom the standards of educational institutions are scrutinized and evaluated in Pakistan. KASBIT became a member of the Association to Advance Collegiate Schools of Business (AACSB), which is based in the US to ensure the quality and continuous improvements in collegiate management education. KASBIT was certified by ISO in January 2002 in recognition of the high quality control system that it has in place. By this virtue, KASBIT became the first ISO-9001 Certified Degree Awarding Institute in the Private Sector of Pakistan.BAHARIA UNIVERSITYPakistan Navy established Bahria Institute at capital of Pakistan and Karachi in the late eighties. These Institutes were aimed at providing quality and uninterrupted education up to Intermediate level, to the children of naval personnel on their transfer from one station to some other and in turn to contribute to the cause of promotion of education at the national level. Over the years these Institutes grew in size and facilities, leading to the starting of BBA and B.Sc(CS) classes in 1995. These programs have since been upgraded to BBA (Hons), BCS (Hons) and MBA, MCS Program which were introduced in Fall 1997 as evening programs run under the management of two independent Institutes one each at Karachi and capital of Pakistan respectively. The institutes are known as Bahria Institute of Management and Computer Science short title BIM&CS suffixed with the location i.e. Karachi or Islamabad. ObjectivesBahria University, though very young, has the will and determination to develop and attain the objectives set forth below Ensure academic excellence through quality education in disciplined and still learning environments. Establish Campuses, Research Institutes, Schools and Colleges across the length and breadth of Pakistan to turn population explosion into intimacy based force. Prepare the younger generation to plough future leaders and managers for a prosperous and educated Pakistan, through development of their mental, moral and professional strengths. Ensure academic excellence through quality education in disciplined and peaceful learning environments. Constantly monitor and upgrade facilities and updatethe curricula to keep pace with the emerging trends and technologies. Coordinate and provide facilities for exchange of knowled ge and applied research in the newly emerging fields in collaboration with national and international Universities and research institutes. RESEARCH AREAHuman imaginativeness (HR)OBJECTIVEFind out to what extend does employees performance influenced by motivationPROBLEM STATEMENTDecreasing Employees performance & mirth due to lack of motivational factors that drives employees productivity level at its best in educational sector.KEY RESEARCH QUESTIONS1. What Is the Relationship between Employees Performance and motivation?2. How many types of motivation that drives employees productivity?3. What Is the Effect of Intrinsic motivation On Employees Performance?4. What is the Effect of Extrinsic motivation On Employees Performance?5. What measures can be taken to increase employees motivation level?6. What are the factors behind the low productivity of employee?7. What should be the behavior of employer towards the employees job satisfaction?IN reliant VARIABLESIntrinsic Motivation1. designation2. Learning opportunity3. Career advancementExtrinsic Motivation1. Basic Pay2. Performance BonusDEPENDENT VARIABLESEMPLOYEES PERFORMANCELIMITATIONInsufficient FundsSmall sample sizeTime barrierHardly possibility that organization will provide trusty information regarding their employees Research can take place only within the cityBeing a students its hard to get perfect information regarding their whole scenario of problemDE-LIMITATIONSRespondents will not provide appropriate responseEmployees will feel insecure while sharing their organizations tiptop of view. Time consciousCity situationsSCOPE OF THE STUDYThis study will provide a better understanding to employers who have been facing employees low productivity level they can get a better understanding of how motivational factors can influence an employees performance level that ultimately helps in step-up of organization. This study will helps organization to increase employees performance through a perfect combina tion of intrinsic or extrinsic motivational factors. And it can be use in different dimension of business where employers are facing low productivity of employees.HYPOTHESISH1 Recognition has an impact on Employees Performance.Ho Recognition has not impact on Employees Performance.H1 learning opportunity has an impact on Employees Performance.Ho learning opportunity has not impact on Employees Performance.H1 Career advancements have an impact on Employees Performance.Ho Career advancements have not impact on Employees Performance.H1 Basic Pay has an impact on Employees Performance.Ho Basic pay has not impact on Employees Performance.H1 Performance bonus has an impact on Employees Performance.Ho Performance bonus has not impact on Employees Performance.