A Study of innovative ways to reward top performers in selective IT companies in India
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2015, Vol 3, Issue 12
Abstract
The use of innovative reward methods can create a positive working environment. The objective of the study is to find out innovative ways – monetary or non monetary to reward top performers in IT industry. Initially and exploratory research was carried out to identify the reward methods. Based on the research, research questions were framed and hypothesis was designed. Primary data was collected from selective IT companies with a sample size of 112 which was found sufficient based on KMO test. The results revealed that a combination of monetary and non monetary reward system is important to motivate top performers. These can be categorized as organization’s focus on innovation, achieving cost savings, new initiatives for which employees should be aptly motivated. Factors like monetary benefits, work-life balance, comfort, leisure, challenging work environment, psychological motivation, indirect monetary benefit, benefits for family and career graph plans should be considered while framing the reward policies.
Authors and Affiliations
Shraddha Patil, Komal Chopra
Keywords
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