HRM (reward system)

International advisers
International advisers Editor (Technical) en International advisers
Reward system and types of
reward
Intrinsic rewards
Introduction
• Reward systems is to enhance the motivation of
individual employees, and hence their current on the
job performance.
• In the context of managing people, the reward system
emphasizes a core facet of the employment
relationship: that it constitutes an economic exchange
or relationship. That is, an employee undertakes a
certain amount of physical and/or mental effort and
accepts the instructions of others, in return receiving a
level of payment or reward.
Effective reward system
• A motivated workforce can be significant factor in
organizational success. When employees are
motivated to work together at higher level of
productivity, the organization as a whole runs
more efficiently and is more effective at reaching
goals. This is in contrast to an unmotivated
workforce, who can negatively disrupt an
organization and distract employees from their
work. For this reason, it is imperative that
managers understand the power of reward
systems and how they are used to influence
employee behavior.
Rewards
• Rewards are positive outcomes that are
earned as a result of an employee’s
performance. These rewards are aligned with
organizational goals. When an employee helps
an organization in the achievement of one of
its goals, a reward often follows. There are
two general types of rewards that motivated
people: intrinsic and extrinsic.
HRM (reward system)
Intrinsic Rewards
• Intrinsic motivation is internal to the person in
that it is something that you have to often
yourself and is driven by personal interest or
enjoyment in the work itself. Because intrinsic
motivation exists within the individual,
achieving it does not depends on others.
Some people believe that the most powerful
rewards come from inside a person.
Cont….
• Think of that sense of accomplishment you
feel once you have overcome a significant
challenge or completed an assignment or
work project that required a good deal of
effort. Intrinsic motivation provides that
personal pat on the back or natural high that
reflects a person’s ability, competency, growth
, knowledge and self-control over their
endeavors.
Cont…
• Employees who are intrinsically motivated
tend to work at higher levels of productivity
and strive to develop professionally. Intrinsic
rewards include things such as: personal
achievement, professional growth, sense of
pleasure and accomplishment
Intrinsic Rewards in the Workplace
• In a knowledge economy where the greatest
assets an employee can offer an organization
is there intelligence, experience, problem
solving ability and change-savvy persona,
intrinsic rewards are especially important to
workers. In fact, Frederick Herzberg, who is
one of the leading theorist of workplace
motivation, found intrinsic rewards to be
much stronger than financial rewards in
increasing employee motivation.
Intrinsic Motivation
 Intrinsic motivation is motivation that comes
from within. It comes from the personal
enjoyment and educational achievement that we
derive from doing that particular thing.
 For example for people who love music, their
motivation to practice the instrument, in
classes, students are bound to do much better in
classroom activities, because they are willing to
learn new material. Their learning experience is
more meaningful, and they go deeper into the
subject to fully understand it.
Cont….
• This is not to say that employees will not seek
financial rewards in addition to intrinsic reward
rather it just means that money is not enough to
maximize motivation in most employees. People
want to feel like their contribution matter.
• For example, an employee might want to reach a
sales quota set by his manager to earn the bonus
that attach to it, but unless the employee feels a
sense of accomplishment as part of making those
sales, the motivation to achieve the quota is less
powerful.
Cont…..
• To help employees with their intrinsic motivation,
managers should:
• Provide meaningful work
• Allow workers to make choices through a high
level of autonomy
• Provide opportunities for employees to show
their competence in areas of expertise
• Facilitate professional development so that
employees can expand on their level of
knowledge
Cont……
• Offer frequent opportunities for employees to
reward themselves
• Allow employees the opportunity to connect
with those with whom they serve to obtain
valuable feedback
• Give them a path to monitor their progress
with milestones along the way
Conclusion
• A good reward system aims to motivate
employees to work harder and align their goals
with those of the organization they work for. The
current trend towards performance related
reward systems is design to lead to latter rewards
and motivation for those who contribute the
most. However, designing such reward systems is
complex, as they aim to influence human
behavior. As the human resources director said:
“there is no such thing as a good pay system;
there is only a series of bad ones. The trick is to
choose the least bad one.
Thank you….
1 de 15

Recomendados

Reward management por
Reward management Reward management
Reward management VishalHotchandani2
13.6K vistas22 diapositivas
Compensation & benefits por
Compensation & benefitsCompensation & benefits
Compensation & benefitsNational HRD Network
145.6K vistas36 diapositivas
Compensation & Benefits Management - HRM por
Compensation & Benefits Management - HRMCompensation & Benefits Management - HRM
Compensation & Benefits Management - HRMIMRAN KHAN
52.9K vistas29 diapositivas
reward-systems por
reward-systemsreward-systems
reward-systemsprashj_04
30.9K vistas13 diapositivas
Performance Management & Reward Systems por
Performance Management & Reward SystemsPerformance Management & Reward Systems
Performance Management & Reward SystemsMIT
984 vistas11 diapositivas
Compensation ppt por
Compensation pptCompensation ppt
Compensation pptshyamasundar Tripathy
179.4K vistas29 diapositivas

Más contenido relacionado

La actualidad más candente

Designing compensation system Part I por
Designing compensation system Part IDesigning compensation system Part I
Designing compensation system Part IAl-Qurmoshi Institute of Business Management, Hyderabad
15.3K vistas27 diapositivas
Compensation management por
Compensation managementCompensation management
Compensation managementKamal Subedi
16.4K vistas55 diapositivas
Reward Strategy por
Reward Strategy Reward Strategy
Reward Strategy MohNahidulAlam
990 vistas9 diapositivas
Compensation and reward management-types of compensation por
Compensation and reward management-types of compensation Compensation and reward management-types of compensation
Compensation and reward management-types of compensation mounika ramachandruni
6.6K vistas13 diapositivas
Unit- 1. Performance Management and reward systems in Context por
Unit- 1.	Performance Management and reward systems in Context	Unit- 1.	Performance Management and reward systems in Context
Unit- 1. Performance Management and reward systems in Context Preeti Bhaskar
24.2K vistas30 diapositivas
Employee benefits por
Employee benefitsEmployee benefits
Employee benefitsYash Vardhan Lohia
24.4K vistas32 diapositivas

La actualidad más candente(20)

Compensation management por Kamal Subedi
Compensation managementCompensation management
Compensation management
Kamal Subedi16.4K vistas
Compensation and reward management-types of compensation por mounika ramachandruni
Compensation and reward management-types of compensation Compensation and reward management-types of compensation
Compensation and reward management-types of compensation
mounika ramachandruni6.6K vistas
Unit- 1. Performance Management and reward systems in Context por Preeti Bhaskar
Unit- 1.	Performance Management and reward systems in Context	Unit- 1.	Performance Management and reward systems in Context
Unit- 1. Performance Management and reward systems in Context
Preeti Bhaskar24.2K vistas
Reward management por saroj upreti
Reward managementReward management
Reward management
saroj upreti19.3K vistas
Compensation Management 1 por s bhaumik
Compensation Management 1Compensation Management 1
Compensation Management 1
s bhaumik138.1K vistas
Wages & salary administration por Pooja Somvanshi
Wages & salary administrationWages & salary administration
Wages & salary administration
Pooja Somvanshi125.5K vistas
Hrm Wage Salary Administration por ajithsrc
Hrm Wage Salary AdministrationHrm Wage Salary Administration
Hrm Wage Salary Administration
ajithsrc25.8K vistas
Presentation on Total Reward Management Model por Ahmad Kawser Zohair
Presentation on Total Reward Management ModelPresentation on Total Reward Management Model
Presentation on Total Reward Management Model
Ahmad Kawser Zohair6.7K vistas
Pay structure: Grades & Ranges por PayScale, Inc.
Pay structure: Grades & RangesPay structure: Grades & Ranges
Pay structure: Grades & Ranges
PayScale, Inc.44.2K vistas
Wages and Salaries Administration por iamlessa
Wages and Salaries AdministrationWages and Salaries Administration
Wages and Salaries Administration
iamlessa81.3K vistas
Compensation Management importance and factors influencing compensation por alisdq550
Compensation Management importance and factors influencing compensationCompensation Management importance and factors influencing compensation
Compensation Management importance and factors influencing compensation
alisdq55021.3K vistas
Job Evaluation PPT por bargave
Job Evaluation PPTJob Evaluation PPT
Job Evaluation PPT
bargave37.7K vistas
WAGE & SALARY PRESENTATION por ADITI SINGH
WAGE & SALARY PRESENTATIONWAGE & SALARY PRESENTATION
WAGE & SALARY PRESENTATION
ADITI SINGH15.2K vistas
Compensation por amitgleam
CompensationCompensation
Compensation
amitgleam4.5K vistas

Similar a HRM (reward system)

Human Resources - Performance, Engagement, Reward & Recognition por
 Human Resources - Performance, Engagement, Reward & Recognition Human Resources - Performance, Engagement, Reward & Recognition
Human Resources - Performance, Engagement, Reward & RecognitionSaloni Agarwal
58 vistas17 diapositivas
431239867-MOTIVATION-REWARD-SYSTEM-ppt.ppt por
431239867-MOTIVATION-REWARD-SYSTEM-ppt.ppt431239867-MOTIVATION-REWARD-SYSTEM-ppt.ppt
431239867-MOTIVATION-REWARD-SYSTEM-ppt.pptSiva453615
10 vistas27 diapositivas
exam#1 Business.pptx por
exam#1 Business.pptxexam#1 Business.pptx
exam#1 Business.pptxValerieMojica
39 vistas18 diapositivas
TOWARD A MOTIVATED EMPLOYEE por
TOWARD A MOTIVATED EMPLOYEETOWARD A MOTIVATED EMPLOYEE
TOWARD A MOTIVATED EMPLOYEEAdebayo Eniola
118 vistas18 diapositivas
examen de ing. com..pdf por
examen de ing. com..pdfexamen de ing. com..pdf
examen de ing. com..pdfSharonHerrera17
54 vistas19 diapositivas
Human Resources por
Human ResourcesHuman Resources
Human ResourcesDudas-Historia
283 vistas6 diapositivas

Similar a HRM (reward system)(20)

Human Resources - Performance, Engagement, Reward & Recognition por Saloni Agarwal
 Human Resources - Performance, Engagement, Reward & Recognition Human Resources - Performance, Engagement, Reward & Recognition
Human Resources - Performance, Engagement, Reward & Recognition
Saloni Agarwal58 vistas
431239867-MOTIVATION-REWARD-SYSTEM-ppt.ppt por Siva453615
431239867-MOTIVATION-REWARD-SYSTEM-ppt.ppt431239867-MOTIVATION-REWARD-SYSTEM-ppt.ppt
431239867-MOTIVATION-REWARD-SYSTEM-ppt.ppt
Siva45361510 vistas
TOWARD A MOTIVATED EMPLOYEE por Adebayo Eniola
TOWARD A MOTIVATED EMPLOYEETOWARD A MOTIVATED EMPLOYEE
TOWARD A MOTIVATED EMPLOYEE
Adebayo Eniola118 vistas
Motivation & Morale for enhanced Performance.pptx por KapilKumarJha
Motivation & Morale for enhanced Performance.pptxMotivation & Morale for enhanced Performance.pptx
Motivation & Morale for enhanced Performance.pptx
KapilKumarJha35 vistas
Gptw por mturczyn
GptwGptw
Gptw
mturczyn446 vistas
Orientaion, motivation, performance, compensation por Rachel Hermosilla
Orientaion, motivation, performance, compensationOrientaion, motivation, performance, compensation
Orientaion, motivation, performance, compensation
Rachel Hermosilla23 vistas
HRM - Motivating Employees por tutor2u
HRM - Motivating EmployeesHRM - Motivating Employees
HRM - Motivating Employees
tutor2u39K vistas
Chapter 3 stratergic talent mgt por sanath kumar
Chapter 3 stratergic talent mgtChapter 3 stratergic talent mgt
Chapter 3 stratergic talent mgt
sanath kumar109 vistas
Performance appraisal por Velly Vyas
Performance appraisalPerformance appraisal
Performance appraisal
Velly Vyas874 vistas

Más de International advisers

SNC 2020 MATHEMATICS Final.pptx por
SNC 2020 MATHEMATICS Final.pptxSNC 2020 MATHEMATICS Final.pptx
SNC 2020 MATHEMATICS Final.pptxInternational advisers
30 vistas12 diapositivas
SNC 2020 MATHEMATICS Lesson plan.pptx por
SNC 2020 MATHEMATICS Lesson plan.pptxSNC 2020 MATHEMATICS Lesson plan.pptx
SNC 2020 MATHEMATICS Lesson plan.pptxInternational advisers
87 vistas21 diapositivas
SNC 2020 MATHEMATICS requirment.pptx por
SNC 2020 MATHEMATICS requirment.pptxSNC 2020 MATHEMATICS requirment.pptx
SNC 2020 MATHEMATICS requirment.pptxInternational advisers
712 vistas41 diapositivas
SNC 2020 MATHEMATICS Final final.pptx por
SNC 2020 MATHEMATICS Final final.pptxSNC 2020 MATHEMATICS Final final.pptx
SNC 2020 MATHEMATICS Final final.pptxInternational advisers
6 vistas12 diapositivas
GRAVITATION Day 1 final.pptx por
GRAVITATION Day 1 final.pptxGRAVITATION Day 1 final.pptx
GRAVITATION Day 1 final.pptxInternational advisers
6 vistas17 diapositivas
GRAVITATION Day 1 sample.pptx por
GRAVITATION Day 1 sample.pptxGRAVITATION Day 1 sample.pptx
GRAVITATION Day 1 sample.pptxInternational advisers
6 vistas9 diapositivas

Más de International advisers (20)

Último

UNIT NO 13 ORGANISMS AND POPULATION.pptx por
UNIT NO 13 ORGANISMS AND POPULATION.pptxUNIT NO 13 ORGANISMS AND POPULATION.pptx
UNIT NO 13 ORGANISMS AND POPULATION.pptxMadhuri Bhande
48 vistas33 diapositivas
Papal.pdf por
Papal.pdfPapal.pdf
Papal.pdfMariaKenney3
76 vistas24 diapositivas
NodeJS and ExpressJS.pdf por
NodeJS and ExpressJS.pdfNodeJS and ExpressJS.pdf
NodeJS and ExpressJS.pdfArthyR3
53 vistas17 diapositivas
The Picture Of A Photograph por
The Picture Of A PhotographThe Picture Of A Photograph
The Picture Of A PhotographEvelyn Donaldson
38 vistas81 diapositivas
INT-244 Topic 6b Confucianism por
INT-244 Topic 6b ConfucianismINT-244 Topic 6b Confucianism
INT-244 Topic 6b ConfucianismS Meyer
51 vistas77 diapositivas
JRN 362 - Lecture Twenty-Two por
JRN 362 - Lecture Twenty-TwoJRN 362 - Lecture Twenty-Two
JRN 362 - Lecture Twenty-TwoRich Hanley
39 vistas157 diapositivas

Último(20)

UNIT NO 13 ORGANISMS AND POPULATION.pptx por Madhuri Bhande
UNIT NO 13 ORGANISMS AND POPULATION.pptxUNIT NO 13 ORGANISMS AND POPULATION.pptx
UNIT NO 13 ORGANISMS AND POPULATION.pptx
Madhuri Bhande48 vistas
NodeJS and ExpressJS.pdf por ArthyR3
NodeJS and ExpressJS.pdfNodeJS and ExpressJS.pdf
NodeJS and ExpressJS.pdf
ArthyR353 vistas
INT-244 Topic 6b Confucianism por S Meyer
INT-244 Topic 6b ConfucianismINT-244 Topic 6b Confucianism
INT-244 Topic 6b Confucianism
S Meyer51 vistas
JRN 362 - Lecture Twenty-Two por Rich Hanley
JRN 362 - Lecture Twenty-TwoJRN 362 - Lecture Twenty-Two
JRN 362 - Lecture Twenty-Two
Rich Hanley39 vistas
Guidelines & Identification of Early Sepsis DR. NN CHAVAN 02122023.pptx por Niranjan Chavan
Guidelines & Identification of Early Sepsis DR. NN CHAVAN 02122023.pptxGuidelines & Identification of Early Sepsis DR. NN CHAVAN 02122023.pptx
Guidelines & Identification of Early Sepsis DR. NN CHAVAN 02122023.pptx
Niranjan Chavan43 vistas
What is Digital Transformation? por Mark Brown
What is Digital Transformation?What is Digital Transformation?
What is Digital Transformation?
Mark Brown46 vistas
OOPs - JAVA Quick Reference.pdf por ArthyR3
OOPs - JAVA Quick Reference.pdfOOPs - JAVA Quick Reference.pdf
OOPs - JAVA Quick Reference.pdf
ArthyR376 vistas
GSoC 2024 .pdf por ShabNaz2
GSoC 2024 .pdfGSoC 2024 .pdf
GSoC 2024 .pdf
ShabNaz245 vistas
Introduction to AERO Supply Chain - #BEAERO Trainning program por Guennoun Wajih
Introduction to AERO Supply Chain  - #BEAERO Trainning programIntroduction to AERO Supply Chain  - #BEAERO Trainning program
Introduction to AERO Supply Chain - #BEAERO Trainning program
Guennoun Wajih135 vistas
The Future of Micro-credentials: Is Small Really Beautiful? por Mark Brown
The Future of Micro-credentials:  Is Small Really Beautiful?The Future of Micro-credentials:  Is Small Really Beautiful?
The Future of Micro-credentials: Is Small Really Beautiful?
Mark Brown121 vistas

HRM (reward system)

  • 1. Reward system and types of reward Intrinsic rewards
  • 2. Introduction • Reward systems is to enhance the motivation of individual employees, and hence their current on the job performance. • In the context of managing people, the reward system emphasizes a core facet of the employment relationship: that it constitutes an economic exchange or relationship. That is, an employee undertakes a certain amount of physical and/or mental effort and accepts the instructions of others, in return receiving a level of payment or reward.
  • 3. Effective reward system • A motivated workforce can be significant factor in organizational success. When employees are motivated to work together at higher level of productivity, the organization as a whole runs more efficiently and is more effective at reaching goals. This is in contrast to an unmotivated workforce, who can negatively disrupt an organization and distract employees from their work. For this reason, it is imperative that managers understand the power of reward systems and how they are used to influence employee behavior.
  • 4. Rewards • Rewards are positive outcomes that are earned as a result of an employee’s performance. These rewards are aligned with organizational goals. When an employee helps an organization in the achievement of one of its goals, a reward often follows. There are two general types of rewards that motivated people: intrinsic and extrinsic.
  • 6. Intrinsic Rewards • Intrinsic motivation is internal to the person in that it is something that you have to often yourself and is driven by personal interest or enjoyment in the work itself. Because intrinsic motivation exists within the individual, achieving it does not depends on others. Some people believe that the most powerful rewards come from inside a person.
  • 7. Cont…. • Think of that sense of accomplishment you feel once you have overcome a significant challenge or completed an assignment or work project that required a good deal of effort. Intrinsic motivation provides that personal pat on the back or natural high that reflects a person’s ability, competency, growth , knowledge and self-control over their endeavors.
  • 8. Cont… • Employees who are intrinsically motivated tend to work at higher levels of productivity and strive to develop professionally. Intrinsic rewards include things such as: personal achievement, professional growth, sense of pleasure and accomplishment
  • 9. Intrinsic Rewards in the Workplace • In a knowledge economy where the greatest assets an employee can offer an organization is there intelligence, experience, problem solving ability and change-savvy persona, intrinsic rewards are especially important to workers. In fact, Frederick Herzberg, who is one of the leading theorist of workplace motivation, found intrinsic rewards to be much stronger than financial rewards in increasing employee motivation.
  • 10. Intrinsic Motivation  Intrinsic motivation is motivation that comes from within. It comes from the personal enjoyment and educational achievement that we derive from doing that particular thing.  For example for people who love music, their motivation to practice the instrument, in classes, students are bound to do much better in classroom activities, because they are willing to learn new material. Their learning experience is more meaningful, and they go deeper into the subject to fully understand it.
  • 11. Cont…. • This is not to say that employees will not seek financial rewards in addition to intrinsic reward rather it just means that money is not enough to maximize motivation in most employees. People want to feel like their contribution matter. • For example, an employee might want to reach a sales quota set by his manager to earn the bonus that attach to it, but unless the employee feels a sense of accomplishment as part of making those sales, the motivation to achieve the quota is less powerful.
  • 12. Cont….. • To help employees with their intrinsic motivation, managers should: • Provide meaningful work • Allow workers to make choices through a high level of autonomy • Provide opportunities for employees to show their competence in areas of expertise • Facilitate professional development so that employees can expand on their level of knowledge
  • 13. Cont…… • Offer frequent opportunities for employees to reward themselves • Allow employees the opportunity to connect with those with whom they serve to obtain valuable feedback • Give them a path to monitor their progress with milestones along the way
  • 14. Conclusion • A good reward system aims to motivate employees to work harder and align their goals with those of the organization they work for. The current trend towards performance related reward systems is design to lead to latter rewards and motivation for those who contribute the most. However, designing such reward systems is complex, as they aim to influence human behavior. As the human resources director said: “there is no such thing as a good pay system; there is only a series of bad ones. The trick is to choose the least bad one.