Analysis on Reward Management Strategies

Analysis on Reward Management  Strategies

                                                               Vimal Kumar

                                Department of School of business

                                             Glgotias University,

                                                Gr. Noida, India

Abstract - Reward system exists in order to motivate employees to work towards achieving strategic

goals which are set by entities. Reward management is not only concerned with pay and employee benefits (financial rewards). It is equally concerned with non-financial rewards such as recognition, training, development and increased job responsibility. This study focused on assessment of reward management practices in Commercial Bank of Ethiopia and tried to

assess the current reward management practices that the company is using to attract and retain employees focusing on employee’s perception. To this end, descriptive research method was used.

Questionnaires, unstructured interview and review of documents were designed based on the objectives. Up on analysis the research was used cluster sampling to distribute 99 questionnaires to employees of CBE where all were filled and returned. This completed questionnaire were

processed and analyzed by using table, graph, pie chart and textual write ups. The findings of the study illustrated the reward management system practice. Respondent’s response based on equity,transparency, consistency and alignments as well as overall rating of reward management

practices of the bank was used.

Key words: Reward management, Human resource Development