How Employee Motivation Strategy can works wonders in the form of rewards

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• Rewarding the employee is a crucial part in
  motivating an employee as every employee expects
  to be rewarded according to the amount of effort
  they put into their work. Employees work with the
  understanding of the fact that their growth is
  directly linked to the growth of their
  organization

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Importance of Reward System It is of utmost
importance that a company maintains a competitive
and efficient Employees Motivation Strategy as an
unsatisfied employee would be unable to work to
the fullest of their potential and would always
look out for better opportunities.
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• A good reward system helps us as follows
• Motivates employees to forge a long term
  relationship
• Creates a positive and healthy working
  environment
• Constructs a good reputation of the company
• Attracts new and competitive talent to the
  company
• Decreases the costing of recruitment

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Different forms of Rewards There are two
different forms of rewarding the employees.
Extrinsic Rewards This kind of reward
constitutes in kind and is tangible. These kinds
of rewards can be in the form of incentives,
bonuses, fringe benefits, commission, promotion,
profit sharing etc. Such kind of rewards depends
on the policy of the company. They are directly
linked to the work performance of the employee
and they receive it every time they accomplish
the set goal or target.
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Intrinsic Rewards This form of reward cannot be
seen as they are intangible but can be felt
emotionally when the set task is completed. It
can be either in the form of appreciation,
recognition, work contentment or praise from
seniors and peers.
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Companies can either maintain the system
themselves or can outsource help for creating
strong Employee Motivation Strategy as it is
foundational for any company to keep their
employees motivated in order to achieve growth
and success in the long term.
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ployee-performance-management/