Employee Reward Systems in Organizations

Došenović, Dragana

doi:10.1515/eoik-2015-0024

Cited by 7 publications

(7 citation statements)

References 6 publications

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“…When we talk about human resources management, it is inevitable to say that the employee reward system is one of the most important systems. The importance of this system stems from the fact that it is a system that can be used to motivate, shape, and correct the behavior of employees following the goals of the company (Dosenovic, 2016). At the same time, it is a very complex system.…”

Section: Literature Reviewmentioning

confidence: 99%

Rewarding top managers in the banking sector during the COVID-19 pandemic

Ilić¹,

Lepojević²

2022

EurJ Appl Econ

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The paper analyzes the practice of the leading banks in Europe related to the compensation of top managers during the COVID - 19 pandemic and the determination of their relationship with the achieved performance of the banks. The paper aims to examine whether top managers' compensation was related to the bank's performance during the COVID - 19 pandemic as well as give recommendations related to rewarding top managers in crises, based on the good practice of leading European banks during the COVID - 19 pandemic. By applying correlation and regression analysis methods, to a sample of leading 50 banks in Europe and 123 top managers, we examined the relationship between the gross profit and compensation of top managers in 2020 and 2021. The results showed that the relationship between bank performance and top managers' compensation (base salary, bonus, and total compensation) was positive even during the COVID - 19 pandemic.

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Section: Literature Reviewmentioning

confidence: 99%

Rewarding top managers in the banking sector during the COVID-19 pandemic

Ilić¹,

Lepojević²

2022

EurJ Appl Econ

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“…Rewards systems can be defined as a system that relates to money, goods, and services that employees receive from their employer in exchange for their work (Došenović, 2016). They may also consist of job or social rewards.…”

Section: Rewardsmentioning

confidence: 99%

“…For example, feelings of satisfaction or similar outcomes (Madhani, 2021). The purpose of rewards systems is to attract, retain, motivate, and evaluate employees (Došenović, 2016;Madhani, 2021;Miao et al, 2013). Reward and incentive structures play a significant role in employee motivation and behaviour and can contribute to short-and long-term positive effects on job satisfaction.…”

Section: Rewardsmentioning

confidence: 99%

“…Rewards are often categorised as tangible (extrinsic motivators), or intangible (intrinsic motivator), and good rewards systems will include both elements (Došenović, 2016). Extrinsic rewards refer to tangible benefits that arise from the employment contract, such as pay.…”

Section: Rewardsmentioning

confidence: 99%

“…When measured and intended performance does not match, incentives are likely to fail, or even stimulate unintended behaviours (Van der Stede, 2009). Debatably, employees are more motivated and satisfied when encouraged to discuss their performance, as well as the distribution of rewards (Došenović, 2016).…”

Section: Formalmentioning

confidence: 99%

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Employee Performance Management in the New Zealand Public Sector

Hill¹

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Employee performance management is widely recognised as a complex system involving formal and informal practices. When done well, performance management benefits employees, organisations and wider stakeholders. For example, performance management in the public sector would theoretically benefit the public, as it may improve the proficiency of public servants. However, modern performance management faces challenges, and the complexities of the public sector environment can cause difficulty. This thesis explores employee performance management in the New Zealand Public Sector. Adopting an interpretive qualitative research method, this research aims to provide insights into common formal and informal performance management practices. It also aims to provide practical insights into the barriers that may exist to improving employee performance management. Data was collected via interviews with managers in public sector organisations. This research suggests effective performance management requires a balance of formal and informal practices. In practice, performance management is often set up as only formal organisational process focussed on system, policy and process, and the informal social systems underpinning it are neglected. To work well, modern performance management is a psycho-social process that bounces off formal, prescribed organisation systems and requires skilled managers. Contextual elements of the public sector overlay performance management systems and must be considered when implementing performance management.

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The impact of total rewards [TR] on employee retention: a case of first aluminum of Nigeria (FAN) organisation

Ojediran

Adebayo

2023

IJRBS

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This study investigates the total rewards (TR) and employee retention (ER) to understand whether better remuneration leads to retention among the employees of First Aluminum of Nigeria. It further emphasizes and reviews the findings of previous articles and journals conducted by various researchers to establish rewards' efficacy in attracting and retaining employees in any given organisation. The study aimed to explore the total reward instruments to attract and retain employees in an organisation. A quantitative design using a sample of 270 employees working in the First Aluminum of Nigeria is adopted. Self-administered questionnaires were administered to employees as respondents for data collection. Data were analysed using Statistical Package for Social Sciences (SPSS) and tables and figures were used to present data. Arising from the empirical findings and comparison with the concept of this study, a discussion on the differences and similarities is made. This study reveals weight and ascertains various kinds of rewards, such as extrinsic, intrinsic, and total rewards, to attract and retain employees at the organization. Thus, this study summarised the results of existing literature on the factors influencing ER at FAN, such as salary; benefits package; compensation; developmental opportunities and quality supervision; compensation and appreciation of work done; promotion, and development opportunities. It is, therefore, contextualized that growth and advancement opportunities do not influence the ER as a monetary reward does.

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Employee Reward Systems in Organizations

Cited by 7 publications

References 6 publications

Rewarding top managers in the banking sector during the COVID-19 pandemic

Rewarding top managers in the banking sector during the COVID-19 pandemic

Employee Performance Management in the New Zealand Public Sector

The impact of total rewards [TR] on employee retention: a case of first aluminum of Nigeria (FAN) organisation

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