Impact of Reward System on Job Satisfaction in Automobile Industry in Uttar Pradesh

Impact of Reward System on Job Satisfaction in Automobile Industry in Uttar Pradesh

Akriti Jaiswal*, Mrs. Akriti Srivastava**

* Management Studies Department, Madan Mohan Malaviya University of Technology **Assistant Professor, Management Studies Department, Madan Mohan Malaviya University of Technology

Abstract

This study investigates how reward structures affect job satisfaction in the Indian state of Uttar Pradesh's automotive sector. The study's goal is to examine the connection between different reward system components and workers' degrees of job satisfaction. Incorporating both quantitative surveys and qualitative interviews, a mixed-methods approach was used.

Employees from a range of positions in the automotive sector, including manufacturing, sales, marketing, and customer service, made up the study sample. 200 workers in the Uttar Pradesh automotive industry were given standardized questionnaires to fill out, and the results were used to gauge job satisfaction and perceived reward system effectiveness. A subset of participants was also subjected to in-depth interviews in order to acquire a deeper understanding of their perspectives and experiences.

The study's conclusions show that employees in the auto industry are significantly less satisfied with their jobs as a result of the compensation system. It has been discovered that financial incentives, such as compensation, bonuses, and incentives, play a significant role in influencing job happiness. Non-monetary incentives including praise, opportunity for advancement, and work-life balance were also noted as key factors.

The study also showed that the perceived fairness of the incentive system is a significant factor in determining job satisfaction. Comparatively to workers who thought the system was random or biased, those who thought the rewards were fair and transparent indicated higher levels of satisfaction.

Based on these conclusions, it is advised that organizations in Uttar Pradesh's automobile industry concentrate on creating complete reward systems that include both monetary and non-monetary incentives. A culture of fairness and openness in the distribution of awards must also be established if employers want to increase employee work satisfaction.

The findings of this study add to the body of knowledge on reward structures and job satisfaction, specifically in the context of Uttar Pradesh's automobile sector. The research findings can serve as a roadmap for human resource management strategies, assisting businesses in creating rewarding programmes that enhance employee engagement, contentment, and productivity.

Keywords- Reward System, Job satisfaction, Automobile industry, Uttar Pradesh, Motivation, Monetary, Non-Monetary, Incentives