Employee Engagement and Reward Plan for University of Startshire

This presentation delves into the critical aspects of employee engagement and reward systems, focusing on a total reward plan for the University of Startshire. It begins by defining employee engagement and its importance in a competitive business environment, highlighting the significance of loyalty, commitment, and participation. The presentation then explores reward management, emphasizing its role in implementing fair and suitable plans to motivate employees and comply with legislation. It differentiates between financial rewards, such as pay and allowances, and commissions, and non-financial rewards, including career advancement opportunities and employee recognition programs. The case study focuses on Nisa Retail Limited, examining their reward system and the application of incentive-based motivation theories. The benefits of total reward plans for employees, such as improved morale and engagement, are also discussed, concluding with a summary of monetary and non-monetary reward structures and their impact on employee motivation. The presentation includes references to relevant literature and journals to support the presented concepts.

EMPLOYEE ENGAGEMENT

TABLE OF CONTENTS
 Introduction
 Financial and Non Financial Reward
 Nisa’s reward system
 Incentive Based theory
 Benefits of total reward plans for employees
 Conclusion

INTRODUCTION
 Employee Engagement (EE) refers to workers’
loyalty, commitment and participation in
company business practices
 In current competitive scenario it is essential
for company to derive higher employee
engagement for gaining competitive advantages
 The selected firm in current report is Nisa
Retail Limited which deals in groceries
commodities.

REWARD MANAGEMENT (RM)
 Organization opts it for managing and
implementing accurate, fair and suitable plan
according to people efforts
 The main purpose is to comply with legislation,
become financially stable and efficient through
motivating employees.
 RM encourages process of job evaluation for
having transparency and standard outcomes
(Madhani, 2017).

FINANCIAL AND NON FINANCIAL
REWARDS
Monetary benefits to employees:
 Pay and allowances
1. To motivate employees to give full potential for accomplishing both personal as well
organizational objectives
2. It is comparatively better than giving employee recognition as end motivate of subordinates is
to earn money (Kaiser, Henn and Marschke, 2020).
 Commission
1. Hard work with innovativeness is given by employees in case of higher commission conditions
2. Commission as financial reward is less competitive than career advancement opportunity & pay
allowances as it is conditional based reward

CONT.
Non Financial rewards:
 Career advancement opportunity
1. Advantages like reduced employee turnover & industrial disputes,
recruitment of known personality, etc.
2. It is more effective than providing commission to employees for motivating.
 Employee recognition program
1. Acknowledgement & appreciation for work play essential role in motivating
self esteem.
2. provide more competitive advantages than pay and allowance but less
beneficial than career advancement opportunity

NISA’ S REWARD SYSTEM INCENTIVE THEORY OF
MOTIVATION
 It focuses on creating value of human resource in company to give belongingness
feeling among workers.
 Gives career opportunities, recognition & promotional programs to give positive
working culture
 Formulates pay structure that comprises commission and pay allowances will help
corporation reach desire position in market
 Behavioral theory that gives advice to company that people are motivated by drive to
incentives and reinforcement
 It becomes essential for firm to derive what different motivational tool can be used to
get desire potential of outcome

BENEFITS OF TOTAL REWARD PLANS FOR EMPLOYEES:
 Employees can be benefited by having perpetuated working culture for giving
higher morale situations & suitable environment
 Reward plan aid employees to give full potential by getting engaged in business
practices.
 Career opportunities resource subordinate to focus on individual characteristics
 Gives opportunity to subordinates to get higher position for accomplishing life
goals in faster manner.

CONCLUSION
 Monetary reward structure comprises commission and pay & allowances which
gives various benefits such as full potential, higher quality skills, etc.
 Emphasis on non monetary structure which involves career opportunities and
recognition programs.
 this whole system for encouraging subordinates in effectual pattern along with
Incentive theory of motivation

REFERENCES
Books and Journals
 Budhathoki, P. B., 2020. Impact of Financial and Non-financial Benefit on Employees’ Job Satisfaction. Journal of
Management. 3(1). pp.85-94.
 Kaiser, F. G., Henn, L. and Marschke, B., 2020. Financial rewards for long-term environmental protection. Journal of
Environmental Psychology. 68. p.101411.
 Madhani, P.M., 2017. Optimal mix of financial and nonfinancial rewards: Enhancing sales performance. World at Work Journal.
26(2). pp.44-54.
 Matloob, S., Shah, S. A. and Hussain, M., 2021. EMPLOYEE MOTIVATION IN LIGHT ONCIAL, NON-FINANCIAL
REWARDS AND EMPLOYEE COMMITMENT AMONG PHARMACEUTICAL SMES OF INDONESIA. Economics. 8(1).
pp.82-91.
 Salleh, E. S. M. and et.al., 2020. Multilevel Analysis on Employee Wellbeing: The Roles of Authentic Leadership, Rewards, and
Meaningful Work. Asian Academy of Management Journal. 25(1).
 Shafagatova, A. and Van Looy, A., 2021. A conceptual framework for process‐oriented employee appraisals and
rewards. Knowledge and Process Management. 28(1). pp.90-104.
Online
 Incentive Theory of Motivation: Definition and How to Use It in the Workplace. 2021. [Online]. Available through: <
https://www.indeed.com/career-advice/career-development/incentive-theory-of-motivation#:~:text=The%20incentive%20theory
%20of%20motivation%20is%20a%20behavioral%20theory%20that,actions%20that%20may%20entail%20punishment.>