The definition of rewarding is something that provides
satisfaction or gives a profit . giving a sense of reward, or return: a rewarding experience Something given in exchange for a useful idea, good behaviour, excellent work, etc. Something that is given in return for good or evil done or received or that is of fered or given for some service or attainment <the police of fered a reward for his capture INDIVIDUAL REWARDS
The Main Objectives of Reward program are:
To attract qualified people to join the organization To keep employees coming to work To motivate employees to achieve high levels of performance LAWLERS CONCLUSIONS ON SATISFACTION AND REWARDS
Satisfaction with a reward is a function both of how much is
received and of how much the individual feels should be received An individuals feelings of satisfaction are influenced by comparisons with what happens to others Satisfaction is influences by how satisfied employees are with both intrinsic and extrinsic rewards People dif fer in the rewards they desire and in how important dif ferent rewards are to them Some extrinsic rewards are satisfying because they lead to other rewards MANAGEMENT CONSIDERATIONS FOR DEVELOPING AND DISTRIBUTING REWARDS
The rewards available must be suf ficient to satisfy basic
human needs Individuals tend to compare their rewards with those of others The process by which rewards are distributed should be perceived as fair The managers distributing the rewards must recognize individual dif ferences REWARDS AFFECT ORGANIZATIONAL CONCERNS Rewards af fect employee perceptions, attitudes, and behavior Key organizational concerns af fected by rewards: Turnover Absenteeism Performance Commitment LINE OF SIGHT: THE KEY ISSUE
Line of sight - means that the employee perceives that there
is a real linkage between his or her performance and the rewards received For extrinsic rewards, organizations need to have systems that clearly tie rewards to desired performance For intrinsic rewards: providing jobs that are challenging providing clear feedback on job performance INTRINSIC REWARDS
Intrinsic Reward- one that is self-
administered by the person Completion Achievement Autonomy Personal growth
BACK EXTRINSIC REWARDS
Extrinsic Reward- Initiated from
outside the person Salary and wages Employee benefits Interpersonal rewards Promotion