Impact of reward system on the employee's performance

Added on - 03 Dec 2019

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Proposal-To assess the impact of reward system onthe employee's performance:A case study of Marriott
TABLE OF CONTENTSTITLE OF THE PROJECT.............................................................................................................1INTRODUCTION...........................................................................................................................1Research Issue.............................................................................................................................1Significance of the research.........................................................................................................2Aim and Objectives.....................................................................................................................2Research questions.......................................................................................................................2TIMESCALE...................................................................................................................................2LITERATURE REVIEW................................................................................................................4Rewards.......................................................................................................................................4Total Reward system...................................................................................................................5RESEARCH METHODOLOGY....................................................................................................5REFERENCES................................................................................................................................8
TITLE OF THE PROJECTTo assess the impact of reward system on the employee's performance: a case study of MarriottINTRODUCTIONEmployees are one of the greatest assets for an organization. They act as the weapons tofight with the competition in the market and to attain competitive edges. In order to becomesuccessful an organization is required to maintain a highly efficient workforce (Compton andet.al. 2009). They should be competent enough to contribute their maximum towards theachievement of goals and objectives of the business. In this manner an organization expects a lotof commitment from its employees, however in return they also expects a lot from theiremployers.They look for motivation, rewards, appreciation, recognition etc. Rewards are the besttool to motivate workers so that they can deliver great performance for the company (Dressler,2004). They will donate their maximum efforts when they have a feeling or trust that their effortsare being recognized by the management. There are many factors which affects theirperformance such as working conditions, employee relationship, training & developmentopportunities and many more. Among all these factors which affects their performance, rewardscomes as of the utmost importance. If appropriate rewards are given for the employee’s efforts,then their performance can be rewarding for the company also (Görgens-Albino and Kusek2009). On the other side, if their efforts are not rewarded, they it may negatively affect thebusiness performance.In the absence of rewards, they may get demotivated and this will affect theirperformance. Their efforts are vital for the business as it drives towards the achievement of goalsand objectives. They need to be motivated so that they can feel that they are an important part ofthe company. This study has been undertaken to realize how rewards are important for theworkers.Research IssueIn the present context the business environment has become highly dynamic andcompetitive. Companies always look to achieve different types of competitive advantages. Thisadvantage can be obtained in form of holding a competent workforce also (Lauby, 2005). Thebusiness performance has become highly dependent on the employees work motivation. It is very1
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