Employee Rewards and Employee Work Motivation: An Indispensable Linkage
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Abstract
“People work for money, But go an extra mile for recognition, praise and rewards” - Dale Carnegie
Today Indian banking sector is being considered as one of the most glorious, innovative service industry that has witnessed constant growth over the past three decades. Indian banking industry has a vital role in promoting public lending and public savings, and is widely recognized as a significant factor for the economic development of the country. The Indian banking industry is expected to be among the top 10 global markets in terms of value by 2025, strengthen by increasing domestic demand. Now-a-days managing talent in the banking sector is the most crucial Human Resource challenge all over the world, and it becomes as the main agenda of top management in every aspect in the predictable future. Employees who are pleased with rewards are more motivated to contribute and can do more effectively. This also converts into better customer experience and in turn, leads to stronger financial performance by the firm and overall economic growth. The present paper aims to decisively study and understand the role of Employee Reward System in SBI and ICICI bank and its impact on Employee Motivation and Organizational Performance.
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