BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The reward systems are significant factors for employee satisfaction. Reward systems addresses the needs of workers, strengthens the relationship between the employee and the employer. Employees are valuable assets in any organization and expect to get rewarded for the job done.

Detailed explanation-2: -A number of studies highlight the powerful relationship between rewards and employee performance. For example, 77% of employees report that they would work harder if they felt better recognised and 68% of employees said they would remain loyal to their employer if they were regularly thanked for their efforts.

Detailed explanation-3: -A good reward system aims to motivate employees to work harder, and align their goals with those of the organisation they work for. The current trend towards performance-related reward systems is designed to lead to greater rewards and motivation for those who contribute the most.

Detailed explanation-4: -There is a direct correlation between rewards and employee happiness, with 86 percent of employees saying that they feel happier and prouder when they are recognized at work, and 85 percent saying that they felt more satisfied with their jobs.