business research methodology
AN EVALUATION OF THE EFFECTIVENESS OF REWARD SYSTEM IN THE HOTEL INDUSTRY IN COCHIN
Abstract:
Most businesses today are concerned about the impact of their activities on managing people. A strong work force is a sign of strength and potency in an organization. So the organization should need to help the employees to achieve their needs and wants. The organizations have to motivate them by providing rewards.
The following study is to explain the impact and significance of reward system on employees in the hotel industry of Cochin (Kochi). The sample consists of employees from two 5-star hotels such as Trident and Taj. Questionnaires were prepared to get the relevant information with regards to the particular organization and also evaluate the impact of reward system in that organization. The conclusion elucidate that the reward systems have a positive effect on employee performance and it will help the organization to improve effectively as well as efficiently.
Key Words: Reward system, Learning, Performance, Productivity, Effectiveness and Efficiency.
Introduction:
Human Resources Management is mainly focuses on people. It strongly believes that the all other resources are meaningless without people. HRM plays a vital role in an organization. Now a day, the human resources department strongly motivates employees by providing them proper rewards for their work or achievements. We can say that the overall performance of any organization is highly influenced by the reward system.
This research gives a response to the importance of reward system in the hotel industry in, Cochin, the type of rewards and the impact it has on the employees.
Literature Review:
The rewards are given to the people who perform well in their work and also by the skills in them. According to Humphrey (1987) a reward is applicable when the employee contributes in an extra ordinary method to the profits of the company. If they give out the reward they increase the salary
Abstract:
Most businesses today are concerned about the impact of their activities on managing people. A strong work force is a sign of strength and potency in an organization. So the organization should need to help the employees to achieve their needs and wants. The organizations have to motivate them by providing rewards.
The following study is to explain the impact and significance of reward system on employees in the hotel industry of Cochin (Kochi). The sample consists of employees from two 5-star hotels such as Trident and Taj. Questionnaires were prepared to get the relevant information with regards to the particular organization and also evaluate the impact of reward system in that organization. The conclusion elucidate that the reward systems have a positive effect on employee performance and it will help the organization to improve effectively as well as efficiently.
Key Words: Reward system, Learning, Performance, Productivity, Effectiveness and Efficiency.
Introduction:
Human Resources Management is mainly focuses on people. It strongly believes that the all other resources are meaningless without people. HRM plays a vital role in an organization. Now a day, the human resources department strongly motivates employees by providing them proper rewards for their work or achievements. We can say that the overall performance of any organization is highly influenced by the reward system.
This research gives a response to the importance of reward system in the hotel industry in, Cochin, the type of rewards and the impact it has on the employees.
Literature Review:
The rewards are given to the people who perform well in their work and also by the skills in them. According to Humphrey (1987) a reward is applicable when the employee contributes in an extra ordinary method to the profits of the company. If they give out the reward they increase the salary
Bibliography: 1. Saunders, M. et al (2009), Research methods for business students. 5th Edition, Harlow, FT/Prentice Hall 2 3. Swanson, A.R and Holton, F.E III (2001),”Foundations of Human Resource Development”, Barrett-Koehler Publishers. 4. Carolina Milander (2010), “The impact of reward system on employee motivation in Moto net Espoo” 5 6. Campbell, D.J. , Campbell, K.M. & Chin, H. (1998). “Merit pay, performance appraisal, and individual motivation: An analysis and alternative, Department of Organizational Behavior, National University of Singapore. 7. Gibbs, M, Merchant, K.A, Stede, W.A.&Vargus, M.E. (2004). Determinants and effects of subjectivity in incentives, university of southern California, Marshall School of Business Research. 8. Holmstrom, B. (1977). On Incentives and Control in Organizations, Ph.D. Thesis, Stanford University. 10. Beck, Robert C. 1978, Motivation theories and principles, 1st edition; prentice-hall Inc, 470 p. 11