International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

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Volume 6 Issue 6
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A Study on Compensation and Reward System and Its Impact on the Motivational Level of Employees

Author(s) Sejal L, Veena Ishwarappa Bhavikatti
Country India
Abstract The purpose of this study is to investigate how reward and compensation schemes affect worker motivation while emphasizing the need to humanize the workplace. One of the most important factors influencing employee behavior and satisfaction is compensation, which includes both monetary and non-monetary benefits. To promote long-lasting motivation, firms must take into account comprehensive strategies for worker recognition, well-being, and personal development in addition to monetary incentives.

The study explores a range of pay approaches, including more creative, customized reward schemes and more conventional salary-based systems. It also highlights the necessity of humanized remuneration policies that take into consideration workers' participation, company culture, and unique requirements. Utilizing motivational theories like Herzberg's Two-Factor Theory and Maslow's Hierarchy of Needs, the study looks at how various incentive structures affect both intrinsic and extrinsic motivation
Keywords Compensation , Recognition, Monetary and non monetory benefits, Motivation , Employee wellbeing
Field Business Administration
Published In Volume 6, Issue 6, November-December 2024
Published On 2024-11-10
Cite This A Study on Compensation and Reward System and Its Impact on the Motivational Level of Employees - Sejal L, Veena Ishwarappa Bhavikatti - IJFMR Volume 6, Issue 6, November-December 2024. DOI 10.36948/ijfmr.2024.v06i06.29712
DOI https://doi.org/10.36948/ijfmr.2024.v06i06.29712
Short DOI https://doi.org/g8qtmt
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