Effectiveness of Monetary Reward System on the Employee's Performance Level

R Mithunmita and M John Britto
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R Mithunmita: Sathyabama Institute of Science & Technology
M John Britto: Sathyabama Institute of Science & Technology

Shanlax International Journal of Management, 2021, vol. 9, issue 1, 50-53

Abstract: Monetary rewards can be defined as money or hard cash rewards given to the employees for their extraordinary work or for the attainment of goals of the organisation. The main purpose of the study is to see how monetary rewards have an effect on the performance level of the employees and how it motivates them. The aim of the study is to find out whether the employees will increase their work or not. This study will help the employers understand which combination of rewards can boost the commitment level of the employees towards the company and it will help the employees find out whether rewards are given fairly them and whether all the employees are treated in the same way. From the results collected from the employees it can be said that monetary rewards have positive impact in the organisation and it makes an employee more loyal towards the organisation.

Keywords: Motivation; Reward management; Monetary incentives; Performance; Effectiveness; Organisation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:acg:managt:v:9:y:2021:i:1:p:50-53

DOI: 10.34293/management.v9i1.3883

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