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861
A STUDY ON REWARD SYSTEM ON EMPLOYEE
PERFORMANCE (WITH SPECIAL REFERENCE TO KPR CARS
PVT LTD VOLKSWAGEN MYSORE)
1
Bhavya P,
2
M.P Somashekar
1
Chamarajanagara University, India
2
JSS College of Art’s Commerece and Science, India
Email: bhab[email protected], mswsomashek[email protected]
Abstract
Rewards and incentives are “important aspect in today’s competitive environment. As the
role of rewards has grown, a lot of changes have been taking place in the reward system, so
while making a reward strategy, a type of industry and their involvement is considered.” In
earlier times, the manager faces a problem of huge turnover of employees due to which an
employee never has a bond with his employer. So, a manager decided to retain their highly
talented employee by motivating them so that the quality of work would be maintained.
Employee reward is one of the methods of motivating employees increasing employee
performance, which benefit the organization. Reward involves the management of
expectations in which both employer and employee except from each other. The employer
wants the maximum contribution of their employer, and employees want their effort to be
matched with their pay in return of their pay. Then, of reward management takes place which
involves the strategy and policies related to pay.
Keywords
: Reward; Management; Employee; Turnover.
INTRODUCTION
A reward system, also known as an employee reward system, is a set of rules,
procedures, and standards for choosing, assigning, and compensating employees in
exchange for their contributions (Sebete, 2020). The incentive could be extrinsic or
intrinsic, financial or non-financial (Singh et al., 2017). It is a powerful tool for motivating
employees since it has a good effect on their willingness, which in turn raises performance
and productivity (Balyan & Balyan, 2012; Jalava et al., 2015).
As a result, the reward system has an impact on the organizational performance
over the long and short terms (Furtado et al., 2012). Sometimes companies utilize rewards
as an additional payment to employees on top of their base pay, therefore it should be
much more enticing so that the best workers are not only kept but also want to provide
the organization their best (Soni, 2018). For instance, when staff perform above and above
expectations, they receive bonus (Broadbent & Laughlin, 2009). Although we pay
individuals for their work and reward them for it, the system must be set in accordance
with the worth of a job. The rewards and a kind word or deed acknowledgement are
examples of rewards (Lepper & Greene, 2015; Mokyr et al., 2015).
The aims this research to study and understand the different components of
employee standard of living and economic development in the industry (Matthews & Nee,
Injuruty: Interdiciplinary Journal and Humanity
Volume 2, Number 10, October 2023
e-ISSN: 2963-4113 and p-ISSN: 2963-3397
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2000). Researcher heve 10 years experience in Department of social Work, Guest Faculty
Chamarajanagara University. Researcher have more than 20 research paper in natinal and
international level.
RESEARCH METHOD
The research is a systematic method of exploring, analyzing and conceptualizing
social life in order to extend or verified knowledge (Benitti, 2012). This chapter provides
as a systematic description of the study (Kaplan & Maxwell, 2005). Inclusion and
exclusion criteria, sampling method, source of data collection, tools of data collection,
data processing limitations of the study a chapter wise scheme.
The purpose of the “study is to know about impact of employee welfare services
in KPR cars Pvt Ltd” with special reference to Volkswagen Mysore. The present study
will make use of the simple random sampling method to collect primary data from the
respondence (Jayarathna, 2014; Karani, 2019). For the purpose of the study both primary
and secondary sources of the data was primary source of data was collected by formally
questionnaire the respondent in the work place. The researcher has spent around 1hour
and minutes for collecting the data from each work respondent. Secondary source of
data was collected from books (Vartanian, 2010).
RESULT AND DISCUSSION
Table 1 the age of the respondents
NO.
Particulars
Respondents
Percentage
1
Bellow 20 years
01
3
2
21 – 30 years
18
60
3
31 – 40 years
06
20
4
41 – 60 years above
05
17
Total
30
100
Chart 1 table shows that highest respondents 21-30 years of 60 percentage
Analysis: The above table shows that out of 100 percentage of respondents 60 percent
belongs to 21 – 30 years, 20 percent belongs to 31 – 40 years, 17 percent belongs to 41
– 60 Above and 3 percent belongs to below 20 years of age group.
Interpretation: Form above analysis interpreted majority of the respondents belongs
Total
Below 20
years
21 - 30
years
31 - 40
years
41 - 60 years
above
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863
to 31 – 40 years of age group.
Table 2 Gender of the respondents.
NO.
Particulars
Respondents
Percentage
1
Male
23
77
2
Female
07
23
Total
30
100
Chart 2 table shows that maximum respondents working in male consider my
study 77 percentag
Analysis: The above table shows that out of 100 percentage of respondent 77
percent belongs to male, 23 percent belongs to female.
Interpretation: From the above analysis interpreted majority of the respondents
belongs to male.
Table 2 Marital status of the respondents.
Sl.NO.
Particulars
Respondents
Percentage
1
Married
16
53
2
Unmarried
14
47
Total
30
100
Chart 3 shows that maximum number od respondents married to give a
opportunity rewards 53 percentag
https://injurity.pusatpublikasi.id/index.php/in 864
Analysis: The above table shows that out of 10 percent of respondents 53 percent
belongs to married, 47 percent belongs to unmarried.
Interpretation: From the above analysis interpreted majority of the respondent
belongs to married in marital status.
CONCLUSION
Reward system puts together the real self-interests with the organization’s
objectives and gives three kinds of management control benefits, informational,
motivational and personnel related. The rewards need to catch the attention of the
employees. In other words, when the employers are providing them with rewards, they
need to ensure, they prove to be beneficial to the employees.
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