MBA, Independent Human Resource Management Advisor, Member of The Association of Business Executive-ABE, Bangladesh
Ph.D. Researcher in Tourism, University of Algarve, Faro, Portugal; Assistant Professor, College of Tourism and Hospitality Management, IUBAT ‒ International University of Business Agriculture and Technology Dhaka, Bangladesh
Under modern conditions, human resources and their motivation to work are an essential component of the success of enterprises operating in a changing and global competitive environment. It is because of the interest of the company’s employees in the results of their work, provided that appropriate working conditions are created, it is possible to increase labor productivity, as well as improve the economic and financial performance of the company. The purpose of the article is to identify the factors that affect the efficiency of the company’s employees and encourage them to work. The results of systematization of scientific research have shown that high staff productivity is not possible without a system of rewards and motivation. The study of improving the efficiency of employees in the article is carried out in the following logical sequence: analyzed modern views on personnel management, studied the relationship between the structural elements of personnel management policy: efficiency, remuneration and motivation, developed a mechanism for managing staff efficiency. The methodological basis of this study is qualitative methods, which allowed to gain a deeper knowledge of the behavior of employees. Recommendations for building a system of personnel efficiency management are offered, which will allow to retain employees, increase labor potential, as well as improve the efficiency of the whole business. Emphasis is placed on the need to introduce not only material rewards, but also to take into account other components in building the company’s personnel policy: a favorable corporate environment, quality communication between employees and management, implementation of coaching, rational division of responsibilities between employees, participation in management decisions. The obtained results have practical significance and can be useful for the top management of the company in the context of strategic personnel management.
Keywords: employee performance, human resource management, motivation, organization, rewards.
JEL Classification: J33, O15, P47.
Cite as: Mamun, M. Z. A., Khan, M. Y. H. (2020). A Theoretical Study On Factors Influencing Employees Performance, Rewards And Motivation Within Organisation. SocioEconomic Challenges, 4(3), 113-124. https://doi.org/10.21272/sec.4(3).113-124.2020
This work is licensed under a Creative Commons Attribution 4.0 International License
- Adkins, Helen (2006). The Laws of Motivation. In Caterer & Hotelkeeper, 196(4429), 26-33. Available at: http://connection.ebscohost.com/c/articles/21475303/laws-motivation, Accessed on April 20, 2020.
- Amukwaya, S.I. and Yazdanifard, R. (2014) How a Proper Performance Related Reward System Can Contribute to Work Performance Excellence. Open Journal of Business and Management, 2, 189-194. DOI: 10.4236/ojbm.2014.23023.
- Anku-Tsede, O. and Kutin, E. (2013). Total Reward Concept: A Key Motivational Tool for Corporate Ghana. Business and Economic Research, 3(2). Available at: https://doi.org/10.5296/ber.v3i2.4291.
- Armstrong, M. (2001). A Handbook of Human Resource Management Practice. 8th ed. London: Kogan Page. Available at: https://www.academia.edu/36159260/Armstrong_Handbook_of_Human_Resource_Management_Practice.
- Armstrong, M. (2009). Armstrong’s Handbook of Human Resource Management (11th ed.). London: Kogan Page Ltd. Available at: https://www.scirp.org/(S(lz5mqp453edsnp55rrgjct55))/reference/ReferencesPapers.aspx?ReferenceID=1624804.
- ASTD (2004). Alexandria, VA. A “Five Ms” Perspective on Leadership vs. Management. Available at: https://www.td.org/newsletters/atd-links/a-five-ms-perspective-on-leadership-vs-management, Accessed on May 28, 2020.
- Barth, E., Bratsberg, B., Haegeland, T. and Raaum, O. (2008) Who Pays for Performance? International Journal of Man- power and Management, 29, 8-29. Available at: https://doi.org/10.1108/01437720810861985.
- Bourne, M., Franco, M. and Wilkes, J. (2003). Corporate performance management. Measuring Business Excellence; p. 15. Available at: https://doi.org/10.1108/13683040310496462.
- Brewster, C., Sparrow, P. and Vernon, G. (2007), International Human Resource Management, 2nd Ed, Wimbledon, Chartered Institute of Personnel and Development, C.I.P.D. Publishing. Available at: http://www.cipd.co.uk/Bookstor…981599.htm, Accessed on May 08, 2020.
- Businesshumanizer (2017), Book review: A Theory of Human Motivation, Available at: http://www.humanbusiness.eu/maslows-hierarchy-of-needs/, Accessed on March 29, 2020.
- Cao, Z., Chen, J., and Song, Y. (2013). Does Total Rewards Reduce the Core Employees’ Turnover Intentions? International Journal of Business and Management, 8(20), pp. 62-75. DOI: 10.5539/ijbm.v8n20p62.
- Chen, H. M., and Hsieh, Y. H. (2006). Key Trends of the Total Reward System in the 21st Century. Compensation and Benefits Review, 38(6), 64-70. Dublin. Available at: https://doi.org/10.1177/0886368706292542.
- Deloitte Global Human Capital Trends (2018). Deloitte Development LLC. Available at: https://www2.deloitte.com/content/dam/Deloitte/at/Documents/human-capital/at-2018-deloitte-human-capital-trends.pdf, Accessed on March 20, 2020.
- Durrani, S., & Singh, P. (2011). Women, Private Practice and Billable Hours’ Time for a Total Rewards Strategy? Compensation & Benefits Review, 43(5), 300-305. Available at: https://doi.org/10.1177/0886368711416434.
- Gibson, J. W., and Tesone, D. V. (2001). Management Fads: Emergence, Evolution, and Implications for Managers. Academy of Management Executive, 15(4), 122-133. Available at: https://www.jstor.org/stable/4165791, Accessed on April 10, 2020.
- Glendinning Peter (2002). Performance management: Pariah or Messiah, Public Personnel Management, 31(2), 161-178. Available at: https://doi.org/10.1177/009102600203100203.
- Gross, R., Elhaynay, A., Friedman, N. and Buetow, S. (2008) Pay for Performance in Islaeli Sick Funds. Journal of Health and Management, 22, 23-35. Available at: https://doi.org/10.1108/14777260810862380.
- Hamukwaya, S.I., & Yazdanifard, R. (2014). How a Proper Performance Related Reward System Can Contribute to Work Performance Excellence. Available at: http://dx.doi.org/10.4236/ojbm.2014.23023.
- Heinen, J. S., and O’Neill, C. (2004). Managing talent to maximise performance. Employment Relations Today, 31(2), 67-82. Available at: https://doi.org/10.1002/ert.20018.
- Holbeche, L. (2009). Aligning Human Resources and Business Strategy (2nd ed.) Oxford: Elsevier. Available at: https://www.lsms.ac/public/uploads/SPSB4qlw3JO38a1ZaBsEiDcF2RnCt3nkIgqWdgi4eQMabHhEmg15752357880zfdKWiWnsmbKFOmygli5gQ78JgyQy50grmfGSAQSqB7vrnPJU.pdf.
- Holland, P., Sheenan, C. and De Cieri, H. (2007). Attracting and Retaining Talent: Exploring Human Resources Development Trends in Australia. Human Resource Development International, 10(3), 247-262. Available at: https://doi.org/10.1080/13678860701515158.
- Hom, P. W., Roberson, L., and Ellis, A. D. (2008). Challenging Conventional Wisdom about Who Quits: Revelations from Corporate America. Journal of Applied Psychology, 93, 1-34. https://doi.org/10.1037/0021-9010.93.1.1.
- Hytter, A. (2007). Retention Strategies in France and Sweden. The Irish Journal of Management, 28(1), 59–79. Available at: https://www.questia.com/library/journal/1P3-1429543071/retention-strategies-in-france-and-sweden, Accessed on April 18, 2020.
- I.D.S. (2007). Performance Management, HR Studies, Income Data Services, London. Available at: https://www.e-reward.co.uk/news/new-ids-study-on-performance-management, Accessed on April 08, 2020.
- Jeffords, R., Scheidt, M., and Thibadoux, G. M. (1997). Getting the Best from Staff. Journal of Accountancy, 184(3), 101-105. Available at: https://www.journalofaccountancy.com/issues/1997/sep/getting.html, Accessed on April 16, 2020.
- John Shields (2007). Managing employee performance and reward, Cambridge University Press. Asia Pacific Journal of Human Resources, 46. Available at: https://doi.org/10.1177/10384111080460010903.
- Khan, M.Y.H. (2018). Strategic Human Resource Practices and its Impact on Performance towards Achieving Organizational Goals. Business Ethics and Leadership, 2(2), 66-73. Available at: 10.21272/bel.2(2).66-73.2018.
- Kuruvilla, S. and Ranganathan, A. (2010). Globalization and Outsourcing: Confronting New Human Resource Challenges in India’s Business Process Outsourcing Industry. Industrial Relations Journal, 41(2), 136-153. DOI: 10.1111/j.1468-2338.2009.00559.x.
- Lussier, R.N. (2009). Management Fundamentals: Concepts, Applications and Skill Development. South Western Cengage Learning, Mason. Available at: https://edge.sagepub.com/lussier8e, Accessed on April 26, 2020.
- MacMahon, J. (1996). Employee relations in small firms in Ireland: An exploratory study of small manufacturing firms, Employee Relations, 18(5), 66-80. Available at: https://doi.org/10.1108/01425459610129399.
- >Malhotra, N., Budhwar, P., & Prowse, P. (2007 December). Linking Rewards to Commitment: An Empirical Investigation of four UK call centres. In International Journal of Human Resource Management, pp. 2095-2127. Available at: https://doi.org/10.1080/09585190701695267.
- McMahon, G. (2009). Successful Performance Management: Effective Strategy, Best Practice And Key Skills, Liffey Press, Dublin. Available at: https://www.amazon.co.uk/Successful-Performance-Management-Effective-Strategy/dp/1905785704.
- Md. Shafiullah, Mirza Mohammad Didarul Alam, Farjana Quader, (2011). Practices of Performance Management System in Bangladesh: An Empirical Study among Three Different Industries. Eastern University Journal, 3(1). Available at: http://dspace.easternuni.edu.bd:8080/xmlui/handle/123456789/76, Accessed on April May 27, 2020.
- Medcof, J. W., and Rumpel, S. (2007). High Technology Workers and Total Rewards. Journal of High Technology Management Research, 18, 59–72. Available at: https://doi.org/10.1016/j.hitech.2007.03.004.
- Milkovich, G. T. and Newman, J. M. (2008). Compensation, (9th ed.). USA: McGraw Hill International Edition. Available at: https://www.worldcat.org/title/compensation/oclc/749120988.
- Muralidharan, K., and Sundararaman V. (2011). Teachers Performance Pay: Experimental Evidence from India. Journal of Political Economy, 119, 845-863. Available at: https://www.nber.org/papers/w15323, Accessed on May 19, 2020.
- Pamela, R. (2003). Retention Reflects Leadership Style. Nursing Management, 34(8), 18-19. DOI: 10.1097/00006247-200308000-00008.
- PSYCH 484 (2016). Work Attitudes and Job Motivation. Available at: https://wikispaces.psu.edu/display/PSYCH484/CASE+STUDY+Fall+2016, Accessed on May 13, 2020.
- Reiche, S. (2007). The effect of International Staffing Practices on Subsidiary Staff Retention in Multinational Corporations. The International Journal of Human Resource Management, 18(4), 523-536. Available at: https://doi.org/10.1080/09585190601178711.
- Samuel, M. O., and Chipunza, C. (2009). Employee Retention and Turnover: Using Motivational Variables as a Panacea. African journal of Business Management, 3(8), 410-415. DOI: 10.5897/AJBM09.125.
- Sheridan, J. E. (1992). Organizational Culture and Employee Retention. Academy of Management Journal, 35, 1036-1054. Available at: https://doi.org/10.5465/256539.
- Sweeney, A. P., and McFarlin, D. (2005). Wage Comparisons with Similar and Dissimilar Others. Journal of Occupation and Organizational Psychology, 78(1), 113-131. Available at: https://doi.org/10.1348/096317904X23808.
- Thompson, James R (2007). Designing and implementing Performance-Oriented Pay band Systems, IBM Centre for the Business of government. Available at: http://www.businessofgovernment.org/sites/default/files/ThompsonPaybandReport.pdf, Accessed on May 30, 2020.
- Tsai, K.H., Chou, C. and Chen, M.Y. (2008) Does Matching Pay Policy with Innovation Strategy Really Improve Firm Performance? An Examination of Technology-Based Service Firms. Personnel Review, 37 (3), 300-316. https://doi.org/10.1108/00483480810862288.
- Tsun, J.C., Shang, P.Y. and I-Jan, Y. (2007). The Effects of Joint Reward System in New Product Development. International Journal of Manpower, 28 (3), 276-297. Available at: https://doi.org/10.1108/01437720710755254.
- Varma, A., Budwhar, P. and DeNisi, A. (2008). Performance Management Systems: A Global Perspective, Routledge, London and New York. Available at: https://www.routledge.com/Performance-Management-Systems-A-Global-Perspective/Varma-Budhwar-DeNisi/p/book/9780415771771, Accessed on May 21, 2020.
- Zahra, S., Irum, A., Mir, S., and Chisti, A. (2013). Job Satisfaction and Faculty Turnover intentions: A Case of Pakistani Universities. Journal of Business and Management, 9(2), pp. 83-89. Available at: http://sajms.iurc.edu.pk/issues/2012b/Fall2012V6N2P3.pdf, Accessed on May 29, 2020.
- Zingheim, P. K., and Schuster, J. R. (2008). Developing Total Pay Offers for High Performers. Compensation and Benefits Review, 40, pp. 55-59. Available at: https://www.paypeopleright.com/Developing_Total_Pay_Offers_for_High_Performers.pdf, Accessed on April 20, 2020.