The impact of reward systems on employee performance
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MBA in Business Management
Dublin Business School
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This research paper focuses on the effects of reward systems on employee performance in the modern work environment and how satisfaction with rewards can lead to higher performance and better job satisfaction. Based on a critical review of published literature, it is clear how important the right combination of rewards is to the performance of an organisation. Employees should always be aware of the relationship between their level of performance and how they are rewarded for that performance. This thesis will examine how different types of reward systems affect that performance and attempt to establish which type of reward systems are more beneficial to the company in question and in the current business climate it operates in. The research is conducted in a period of particular financial turbulence for the mining industry, and wider global economic environment. As such, reward structures and the perceived value of those rewards, come more into focus as financial pressures restrict the type of rewards available, while retaining and motivating staff becomes more challenging. How can performance be enhanced and the required business outcomes accomplished? How can reward systems contribute to this performance and outcomes? These issues will be addressed in the context of best international practice regarding reward structures and from primary data collection. This research was conducted at operational managerial level. Considering how many employees report into this level, this is where I believe both employee and employer interact the most regarding rewards, motivation and how that affects performance. Author keywords: Rewards, performance