UNIT-8
MOTIVATION AND REWARD SYSTEM
8.2 MOTIVATION :-
→ Motivation is defined as an inner state that activates, energizes or moves behaviour towards goals.
→ It is an important factor whcih encourages presons to give their best performance and helps in achieving enterprise goals.
→ A strong positive motivation will boost the output of employees
8.4 ESSENTIAL FOR MOTIVATION :-
→ A motivation system is an organization should have the following essential :
(1) Performance of the employee should be reasonably rewarded and should be duty acknowledged.
(2) If the performance is not consistently up to the mark, then the system must make provisions for penalties.
(3) The employees must be dealt in a fair and just manner. The grievances cand obstacles faced by them must be dealt instantly and fairly.
(4) Performance appraisal system should be very effective.
(5) The motivational system must be modified to the situation and to the organization.
(6) The management approach should be participative. All the subordinates and employees should be involved in decision-making process.
(7) "Motivate yourself to motivate your employees" should be the managerial approach.
(8) The managers must understand and identify the motivators for each employee.
8.5 ROLE OF MANAGER IN MOTIVATION :-
(1) Show respect by asking employees for their feedback.
(2) Do not force employees to check their braines at the door.
(3) Get to known every employee.
(4) Give employee as much control as possible over their work.
(5) Challenge them to improve the operation.
(6) The great idea award.
(7) Do not forget the implementation.
8.6 REWARD SYSTEM :-
→ Rewards may play an important role in employee motivation.
→ Motivation of employee's is critical for the success of organization.
→ The reward system of an organization should be capable of attracting the attention of employees and motivate them to work.
→ The rewards system generally consists of :
(i) Monetary incentives :-
→ The purpose of monetary incentives is to reward the employees for excellent job performance through money.
→ Monetary incentives include profit sharing, project bonuses, stock options and warrants, scheduled bonuses.
(ii) Non-monetary incentives :-
→ The purpose of non-monetary incentives is to reward the employees for excellent job performance through apportunities.
→ Non-monetary incentives include.
→ Flexible work hours, training, pleasant work environment, etc.
