compensation management's presentation

8/8/2019 compensation management's presentation

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IMPACTIMPACTOF REWARDS ONOF REWARDS ON

EMPLOYEE SATISFACTIONEMPLOYEE SATISFACTION


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IMPACTIMPACTOF REWARDS ONOF REWARDS ON

EMPLOYEE PERFORMANCEEMPLOYEE PERFORMANCE

Submitted bySubmitted by

Sir Nadeem Afzal Roll # 1400064Sir Nadeem Afzal Roll # 1400064

UmUm--ee--Rubbab Roll # 1400086Rubbab Roll # 1400086 Syeda Maryium Fatima Roll # 1400075Syeda Maryium Fatima Roll # 1400075


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OBJECTIVEOBJECTIVE

To study the pattern of Reward.To study the pattern of Reward.

To study the impact of Reward onTo study the impact of Reward onemployee performance and overallemployee performance and overallsatisfaction.satisfaction.

How do rewards play into theHow do rewards play into the

performance?performance?


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IntroductionIntroduction

WHAT IS REWARD ?WHAT IS REWARD ?

Source of recognitionSource of recognition

MotivationMotivation

To encourage them and to acknowledgeTo encourage them and to acknowledge

the contributionthe contribution


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TYPES OF REWARDTYPES OF REWARD

INTRINSIC REWARDSINTRINSIC REWARDS

StatusStatus

ResponsibilitiesResponsibilities

Job satisfactionJob satisfactionJob involvementJob involvement

Self esteemSelf esteem

EXTRINSICEXTRINSICREWARDSREWARDS

Non financialNon financial

FinancialFinancial


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NonNon--Traditional RewardsTraditional Rewards

Cafeteria benefitsCafeteria benefits

Time off (banked)Time off (banked)

SkillSkill--based paybased pay

Gainsharing vs profitGainsharing vs profit

sharingsharing


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REWARDING METHODSREWARDING METHODS

Financial rewardingFinancial rewarding

methodsmethods

Incentives,Incentives,

Bonus,Bonus,

Promotions,Promotions,

Gifts,Gifts,


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NonNon--financial rewardingfinancial rewarding

methodsmethods

Appreciation,Appreciation,SayingSaying -- thank you,thank you,

Congratulations mails,Congratulations mails,

GreetingGreeting


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NonNon--financial rewardingfinancial rewarding

methodsmethods

CertificatesCertificates

Giving responsibilitiesGiving responsibilities

Autonomy


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Literature reviewLiterature review

There is the best way toThere is the best way toimprove the employeeimprove the employeemotivation andmotivation andsatisfaction by givingsatisfaction by giving

them long term incentivesthem long term incentivesand promotion grantsand promotion grants(Elvira, 2001).(Elvira, 2001).

Rewards given to theRewards given to theemployees has a positiveemployees has a positiveimpact on theimpact on theperformance of theperformance of theemployees (Iglance &employees (Iglance &Rousssel, 1999).Rousssel, 1999).


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Literature reviewLiterature review

Pay for performance enhancesPay for performance enhancesthe employee perception onthe employee perception on

justice distribution whichjustice distribution whichfinally impacts on satisfactionfinally impacts on satisfactionof employees (Hang, 2004).of employees (Hang, 2004).

Compensation policy ofCompensation policy oforganization highly influencesorganization highly influencesthe employee to compare withthe employee to compare witheach other performance &each other performance &work satisfaction (Trembley,work satisfaction (Trembley,onye & Toulause, 1997).onye & Toulause, 1997).


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Literature ReviewLiterature Review

Employee satisfactionand job satisfactionare interrelated if

employees aresatisfied then they willnever leave the job.Employees leave jobbecause they areuncomfortable with

job domain(Delfgaauw, 2006)


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Literature review

Desired Outcomes ofRewards

Attract

Motivate

Develop

Satisfy

Retain


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Literature review

Distribution Criteria

Results

Behavior Profit maximization

Equity

Equality Need


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Literature review

IMPACT OF REWARDSIMPACT OF REWARDS

To improve performance nTo improve performance nloyalty.loyalty.

As a motivational factor.As a motivational factor.

As a driving force.As a driving force.

Positive impact on employee.Positive impact on employee.

External competitiveness.External competitiveness.

Culture building.Culture building.


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RESEARCH METHODOLOGYRESEARCH METHODOLOGY

VISITEDVISITED

UFONEUFONE Muree Road Saddar Branch

Building # 111/10, survey # 349/10, Main

Muree Road Near Health Way Hospital

Building, Saddar

Data is collected by direct interaction withData is collected by direct interaction withemployees of the organization.employees of the organization.


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MethodologyMethodology


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ORGANIZATIONAL PROFILEORGANIZATIONAL PROFILE

StartedStarted onon 2929thth JanuaryJanuary 20012001

OnlyOnly PakistaniPakistani--ownedowned cellularcellular

serviceservice operatoroperator inin PakistanPakistan

WithWith aa marketmarket shareshare ofof overover

2424%%


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ORGANIZATIONAL PROFILEORGANIZATIONAL PROFILE

Ufone Operates In :Ufone Operates In :--PREPAIDPREPAID

POSTPAIDPOSTPAID

LIFE/GENERAL INSURANCELIFE/GENERAL INSURANCE

MUTUAL FUNDMUTUAL FUND

TARGETS GIVEN BYTARGETS GIVEN BYHIGHER MANAGEMENT TOHIGHER MANAGEMENT TOEMPLOYEES.EMPLOYEES.

BY ACHIEVING TARGETSBY ACHIEVING TARGETSTHEY GET REWARDS .THEY GET REWARDS .


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DATA ANALYSISDATA ANALYSIS

By Interaction With ;By Interaction With ;

Mr. Salahudin (Branch Manager)Mr. Salahudin (Branch Manager)

Mr. Akram (RM)Mr. Akram (RM)and other employees inand other employees in

UfoneUfone

Data is collected with the help of questionData is collected with the help of questionscheduleschedule


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ANALYSISANALYSIS

INCENTIVES

BONUS

PROMOTION

SAYAING

THANKYOU

APPRECIATI

ON

50%

21%8% 7%

14%


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OutcomeOutcome

From the above graph researcherFrom the above graph researcherconcluded that promotion is the majorconcluded that promotion is the majorfactor as a reward for the employeefactor as a reward for the employee


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CONCLUSIONCONCLUSION

REWARDS IMPROVEREWARDS IMPROVE

THE INDIVIDUALTHE INDIVIDUAL

PERFORMANCE ANDPERFORMANCE ANDORGANISATIONALORGANISATIONAL

PERFORMANCE.PERFORMANCE.


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Our new and improved performancemanagement system.


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RecommendationsRecommendations

Timing is everything.Timing is everything.

Tailor the reward to theTailor the reward to theperson.person.

Tie the recognition to theTie the recognition to theachievement.achievement.

Praise in person.Praise in person.

Make it positive.Make it positive.

Greek proverbGreek proverbMany know how to flatter; fewMany know how to flatter; fewunderstand how to give praiseunderstand how to give praise


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The greatest reward in life isThe greatest reward in life is

believing in yourselfbelieving in yourself

THANKTHANK --YOUYOU

compensation management's presentation

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