Effectiveness of Reward System on the Employee’s Performance

Reward system plays a vital role in the organization. The rewards may be monetary or non-monetary helps the organization to retain its employees in the organization for longer time. Effective reward systems help to achieve organizational goals, improves employee satisfaction. The study explains about: monetary rewards on employee performance, employee recognition programs on employee performance, promotion policies or schemes on employee performance. Historically different studies have proven that reward systems can improve the employee performance. Present study consists of Sample size 200 respondents, selected by using simple random sampling technique. The research design is empirical which included both qualitative and quantitative data. The data is primary, well-structured questionnaires are prepared some part of secondary data is also used for references. (Depth analysis) The study needs to be identified the relationship between monetary reward system and employe performance, with respect to employee satisfaction and retention.