A Study on Compensation and Reward System and Its Impact on the Motivational Level of Employees
Year: 2024
Type: article
Abstract: The purpose of this study is to investigate how reward and compensation schemes affect worker motivation while emphasizing the need to humanize the workplace. One of the most important factors influencing employee behavior and satisfaction is compensation, which includes both monetary and non-monetary benefits. To promote long-lasting motivation, firms must take into account comprehensive strategies for worker recognition, well-being, and personal development in addition to monetary incentives. The study explores a range of pay approaches, including more creative, customized reward schemes and more conventional salary-based systems. It also highlights the necessity of humanized remuneration policies that take into consideration workers' participation, company culture, and unique requirements. Utilizing motivational theories like Herzberg's Two-Factor Theory and Maslow's Hierarchy of Needs, the study looks at how various incentive structures affect both intrinsic and extrinsic motivation
Authors: Sejal L -, Veena Ishwarappa Bhavikatti -
Language: English
Subfield: Human Factors and Ergonomics
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4404281251