The proposed study speaks in volume about the roles and responsibility of managers in organizations for giving rewards to their employees of subordinates in the context to their motivation for achieving the aims and objectives of the organization. It is considered that one of the major responsibilities of the managers for containing the ability to select rewards and times the rewards properly. It is also considered that a manager in the organization encompasses some tools, which help to increase the efficiency and usefulness of their organization's employees. There is very appropriate title for this dissertation, “Importance of Rewards to Employees in Organization” (Langerak and Hultink, 2008). It is also observed from the recent survey that reward to the employees will motivate them towards their work and accomplishments. In addition to this, it has also been explored that there are various ways for giving rewards to the employees i.e. may be in the form of monetary or non-monetary rewards.
As a matter of fact, it is understood that there are two factors, which are responsible for motivating the employees. The very first being is the earning pay checks and second may be doing work on prestigious designation, which make them proud. Presenting any offer for reward to the employees gives them extra motivation for giving better best to the organization and to go above and beyond. There could be various forms of rewards that can be provided to the employees in an organization such as financial rewards or rewards other than salary, incentives, extrinsic reward, intrinsic reward, performance based rewards, membership based rewards, nontraditional rewards like reducing the workweek, staggered daily schedule, flex time (Bonsdorff and Moilanen, 2005).
Aims of the study
To understand the importance of reward mechanism to recreation managers for increasing employee motivation and retention
Objectives of the study
There are various purposes and reasons being observed in the reward system of the organizations. The effective procedure of the reward system will help the organization to become sustainable in a highly competitive environment or marketplace. Further, it also helps them in retaining the skilled employees as well as in reducing the turnover. It is also seems to be possible for the enhancement of the employee motivation and reinforce the image of an organization among the key stakeholders for future employees (Cumming, Johan and Li, 2011).
According to human recourse management point of view, skilled peoples are concerned as one of the most vital resource for the organizational competitiveness and retaining them in the organization is a key responsibility of the managers by rewarding them according to their performances. Attracting and keeping the best employees is the most important part of the organization and it should be performed by the managers effectively. It is very good for the people who are seeking good opportunity in the organizations, but it is the responsibility of the human resource managers to select the best candidates among them and thus, it is considered as a key challenge for the managers (Conduit and Mavondo, 2001). This is quite unfeasible in case of non-profit and public sector organizations, where flexibility in providing financial rewards may be more limited than in a commercial context (Harris, 2001).
If any organization is successfully retaining their skilled employees in the organization then in turn they are also saving assortments of recruitment costs, which can further be utilized in developing and improving the steadiness of services, and allows for relationships to develop between clients and the organization. It is also considered that reward system in the organization is also helpful in reducing the rate of absenteeism, which is measured as a frustrating condition for managers to maintain a proper flow of work in the organization and reduce the innumerable headaches for managers. High rate of absenteeism of employees in the organizations not only causes stress in the organization but also fellow employees who requires to pick up the slack and clients who feel the force of too few employees on site and due to lack of the employees it become critical to appropriately maintain the teamwork (Laursen, 2002).
It is very essential to understand that who, what, when, to reward someone in the organization in order to increase the performance of the employees in the firm. This then led to increase the desires of the employees to make continuity in their work with the same organization. It is also considered that improper use of rewards to the employees can lead to incapacitating effects on the performance of the employees. This requires from the managers to posses that much of ability to understand point of views about fairness in the reward system and then precisely communicate the what are the essential requirements which needs to be done to receive the reward (Karatepe and et. al., 2003).