Reward,Recognition and motivation Arab National bank .The aim of current study was to calculate and measure impact of rewards and recognition on employee motivation at Arab National Bank as previous researches have shown rewards and recognition holds crucial importance when it comes to effective and productive workforce. The main purpose behind conducting this study was to pinpoint the factors that results in employee motivation at the organization and how does reward and recognition factors effects motivation of employees. For this purpose questionnaires with close ended questions were generated for data pooling from employees of Arab National Bank.
Reward,Recognition and motivation
Likert scale was used for response measurement with options ranging from agree, strongly agree, disagree, strongly disagree and neutral. these responses were measured in data analysis which revealed that majority of employees were agree and strongly agree with promotion and recognition factors, while most were also found agree with factors of motivation and rewards. Correlation analysis was also showed to measure significance among variables of reward and motivation as well as recognition and motivation therefore Correlation analysis explained that reward and motivation and recognition and motivation both are positively correlated but correlation was higher between recognition and motivation.
Human resource is simply defined as system or process which involves recruiting new employees or develops skills of existing employees, because employees are one of the most valuable asset for an organization. a common observation is that companies which are employee centric are largely successful than typical organization because if employees are well taken care of then they are bound to work hard for the company in increases loyalty and productivity as well as development of employees.
Therefore the process of hiring and developing employees is important for success of the organization. it is a process that involves most basic employee functions, i.e. planning related to employees personal needs and arranging orientation for new employees, other factions of this department includes training sessions for existing employees as well as planning monetary and non-monetary incentives or benefits. One function of HR department is to maintain communication and welfare of the staff. A motivated staff means an effective and manageable organization.
How Reward,Recognition and motivation Linked with Each other
The importance of motivation is stressed upon companies since its keeps the workforce productive as a result the organization runs effectively employee motivation hence has an important role to play in success of a company. Commonly observed phenomenon is that a a huge gap of difference exists between a motivated employee versus a non-motivated one, it has been noted that employees with high motivation levels are tend to be more responsible when it comes to their, jobs or duty, they show more efficiency and productivity in their daily routine tasks, and such employees tend to be more loyal towards the firm.
On the other hand an employee or employees with a low level of motivation are lethargic, their productivity is lackluster, increased absenteeism and higher job rotation, such employees frequently look for ways to be absent from work including fake sick leaves and excuses, they often change their jobs and insubordination has also being observed in some cases i.e. an employee looks for excuses to be fired from their current job due to lack of motivation.
Psychologists has long established two types of motivation in humans, namely intrinsic and extrinsic, both types of motivation promotes negative or positive behaviors in humans. When it comes to corporate and industry employees both intrinsic and extrinsic motivation has its own effects and results depending on person to person. Intrinsic motivation is defined as the type of motivation which arises from within the individual than any external reward.
Therefore a person or employee with intrinsic motivation will be motivated to perform better if he/she considers the assigned task as enjoyable and something they enjoy doing without boredom or fatigue, while working; if a problem occurs in such scenario an intrinsically motivated employee will immediately turn to troubleshooting and problem solving in any way possible only because the individual finds their job or duty enjoyable. Similarly psychologists describe extrinsic motivation as the motivation which arises from outside the individual’s mind frame this is also referred to as external rewards. Such external rewards includes recognition, fame, praise or other forms of rewards such as promotion. External reward is a significant part of external positive reinforcement. Internal or intrinsic rewards are all intangible or inner rewards.
Many organizational policies are aimed towards improving employee performance for better organizational performance one such policy which is determined by the HR department is the reward and promotion system and policy. The responsibility of identifying the motivation type as intrinsic or extrinsic falls upon the HR manager there are several factors which play a role in employee motivation and reinforcement different factors effects people differently, for one person a reward based on monetary incentive like increment in salary is major motivation factor, for another person a verbal recognition or an award acknowledging and appreciating the hard work is highly motivating. Essentially employee motivating factors are important as they are a requirement to serve as a prerequisite for better organization performance.
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