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How Employee Motivation Strategy can works wonders in the form of rewards

Defining the reward system management as an important form of Employee Motivation Strategy while stating its importance to the organization and different forms of rewards

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How Employee Motivation Strategy can works wonders in the form of rewards

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  1. Rewarding the employee is a crucial part in motivating an employee as every employee expects to be rewarded according to the amount of effort they put into their work. Employees work with the understanding of the fact that their growth is directly linked to the growth of their organization

  2. Importance of Reward System It is of utmost importance that a company maintains a competitive and efficient Employees Motivation Strategy as an unsatisfied employee would be unable to work to the fullest of their potential and would always look out for better opportunities.

  3. A good reward system helps us as follows: • Motivates employees to forge a long term relationship • Creates a positive and healthy working environment • Constructs a good reputation of the company • Attracts new and competitive talent to the company • Decreases the costing of recruitment

  4. Different forms of Rewards There are two different forms of rewarding the employees. Extrinsic Rewards– This kind of reward constitutes in kind and is tangible. These kinds of rewards can be in the form of incentives, bonuses, fringe benefits, commission, promotion, profit sharing etc. Such kind of rewards depends on the policy of the company. They are directly linked to the work performance of the employee and they receive it every time they accomplish the set goal or target.

  5. Intrinsic Rewards– This form of reward cannot be seen as they are intangible but can be felt emotionally when the set task is completed. It can be either in the form of appreciation, recognition, work contentment or praise from seniors and peers.

  6. Companies can either maintain the system themselves or can outsource help for creating strong Employee Motivation Strategy as it is foundational for any company to keep their employees motivated in order to achieve growth and success in the long term.

  7. Contact Us Second Floor, Plot-19, Sector-5, Rajendra Nagar Sahibabad, Ghaziabad, (U.P.) – 201005 Mob No: +918527599523 Email id: info@tridindia.com Website: http://www.tridindiahr.com/hr-consulting/employee-performance-management/

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