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Relevance of Rewards in promot

 


             1.2 WHAT DOES MOTIVATION MEAN INTERMS OF BUSINESS PERFORMANCE.
             1.2.1 Full utilization of work force help achieve Organizational Objectives.
             Ultimately, the business performance of any organization lies in the hands of its employees and in the organization's ability to fully utilize their experience, talent, and energy. A committed and energized workforce sharing common visions and goals also means higher levels of morale, teamwork, and communication. This helps to achieve competitive advantage and differentiation through service excellence and higher levels of return on human capital investment. It can also help to identify your organization as an employer of choice, with obvious benefits for attraction and retention of key talent. Driving and sustaining business performance in difficult economic and market conditions is a recurring theme, and the strategies that we need to explore should create a more robust and responsive organization.
             1.2.2 How would you achieve full utilization of your employees? .
             The answer is "through motivation". Identifying and utilizing people's natural motivation and drive represents one of the greatest potential opportunities for organizations. Motivation drives performance, innovation, excellence, productivity, and profitability, and is an innate component of any organization's human capital. Releasing the dynamic of employee motivation and focusing it towards the achievement of organizational goals creates an energized, forward-looking environment where personal and professional goals work together.
             1.2.3 Do reward a Reward System help?.
             A reward system is not simply concerned with paying adequate base salaries, but has many intricate and combined elements. It reflects the aims, philosophies and values of the business and is a very real way of communicating these to all employees. An effective organizational reward system will help create a skilled, committed, competent and well-motivated work-force, one that ensures that the organization stays ahead of it's competitors.


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