Impact Of Employee Benefits On Work Motivation And Productivity Pdf
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What is the opinion of the employees regarding this? I would be glad to acknowledge and show my profound and genuine gratitude to Ms Lankika Thalpawila, my honourable research supervisor of Research Methods for Human Resource Management project.
- Impact of employee benefits on work motivation and productivity
- Why employee motivation is important and how to improve, measure and maintain it
- Impact of employee benefits on work motivation and productivity
- The Impact of Motivation on the Performance of Employees
Impact of employee benefits on work motivation and productivity
Download PDF. A short summary of this paper. One way of maintaining good and healthy employee relations in an organization is by attaching lucrative benefits to every job and task carried out by every employee in that organization. Employee benefits which are the various non-wage compensations provided to employees in addition to their normal wages or salaries cannot be over looked by the management of an organization, since the human resource of an organization is the most valued resource.
This current era is highly competitive and organizations regardless of size, technology and market focus are facing employee retention challenges. To overcome these restraints a strong and positive relationship and bonding should be created and maintained between employees and their organizations.
To enhance this strong and positive relationship, employees should be motivated to put in their best by providing employees with certain lucrative employee benefits like performance bonuses, Christmas bonuses, study allowances, leave allowances etc.
Human resource or employees of any organization are the most central part so they need to be influenced and persuaded towards tasks fulfilment.
If employees are not satisfied with their job or work place, they tend to put little efforts at work or move to other organizations with better job packages. This can cost an organization so much, especially if they are loosing a key and very competent staff to a competitor. As society wrestled with these massive economic and social changes, labour problems arose.
Low wages, long working hours, monotonous and dangerous work, and abusive supervisory practices led to high employee turnover, violent strikes, and the threat of social instability. These led to various labour unions calling for organizations to compensate employees accordingly. Industrial relations thus rejected the classical econ.
Institutionally, employee relation was founded by John R. Early financial support for the field came from John D. Rockefeller, Jr. In Britain, another progressive industrialist, Montague Burton, endowed chairs in industrial relations and employee benefits at Leeds, Cardiff and Cambridge in , and the discipline was formalized in the s with the formation of the Oxford School by Allan Flanders and Hugh Clegg.
A study conducted by Cascio in some West African countries including Nigeria revealed that most organizations in developing countries do not structure and implement their employee benefit packages in an appropriate manner; hence employees find it difficult to really believe they are benefiting from their workplace. Poorly designed benefit plans that do not actually motivate employees to put in their best at work is a major issue in corporate Nigeria today.
Organizations that do not design their employee benefit plans based on the personality and nature of their employees tend to be wasting resources and efforts, as employees are not motivated to work hard if certain benefit packages offered by the organization do not speak to their needs.
An average Nigeriaian worker places more importance to the benefits he or she will derive from working, therefore they are very concerned about what they are paid. Implementation of employee benefit is also a major challenge in corporate Nigeria, as employee benefits are sometimes delayed or ruled out due to cost reduction measures by the management of an organization.
However, in line with the main objective of the study, the specific objectives are: To identify employee benefit packages offered to the employees of First bank, Uyo. To examine the effects of identified employee benefit packages on the overall performance of the employees of First bank, Uyo.
To suggest better employee benefit packages and plans to the management of First bank, Uyo. What processes are involved in drafting employee benefit policies, and what factors are considered when planning and implementing these policies? Considering the advancement in technology and best human resources practices all over the world, what newer employee benefit packages do you think if introduced to your company, it will increase your performance?
Hi: There is a significant relationship between employee benefit packages and employee productivity. This study will therefore help enlighten management of various organizations of the various effects of employee benefit plans and packages on the performance of an organization. The study will also bring out specifically, the employee benefit packages which the bank has been able to make available to its employees.
The importance of this study is therefore to highlight the various employee benefits and how it affects the productivity of employees in an organization. The research will rely on the bank for vital information as well as information from secondary source. Inadequate funds and availability of time also became a limitation. It gives the basic information about the company and the research being undertaken. This chapter therefore consists of the background of the study and organizational profile, statement of the problem, objectives, research questions, significance of the study, scope of the study, and limitations encountered by the researcher.
Chapter Twoconsists of the literature review and the theoretical framework Chapter three gives details of the research methodology. The research methodology represents the various ways and methods which the researcher used in order to gain information.
Chapter Fourgives the analysis and interpretation of the information gathered by the researcher. Chapter five gives the findings and conclusion of the researcher. Various concepts of employee benefits, relations and productivity are discussed, and previous and recent researches on employee relations and its effect on productivity are well outlined and stated. The individual is also called worker Simmons, In most modern economies, the term "employee" refers to a specific defined relationship between an individual and a corporation, which differs from those of customer or client.
Other types of employment are arrangements such as indenturing which is now highly unusual in developed nations but still happens elsewhere. An employer's level of power over its workers is dependent upon numerous factors, the most influential being the nature of the contractual relationship between the two.
This relationship is affected by three significant factors: interests, control and motivation. It is generally considered the employers' responsibility to manage and balance these factors in a way that enables a harmonious and productive working relationship.
Employer and managerial control within an organization rests at many levels and has important implications for staff and productivity alike, with control forming the fundamental link between desired outcomes and actual processes. Employers must balance interests such as decreasing wage constraints with a maximization of labour productivity in order to achieve a profitable and productive employment relationship.
According to Simons , employee benefits also called fringe benefits, perquisites, perqs or perks are various non-wage compensations provided to employees in addition to their normal wages or salaries. In instances where an employee exchanges cash wages for some other form of benefit is generally referred to as a 'salary packaging' or 'salary exchange' arrangement.
In most countries, most kinds of employee benefits are taxable to at least some degree. Examples of these benefits include: housing employer-provided or employer-paid , group insurance health, dental, life etc. The purpose of employee benefits is to increase the economic security of staff members, and in doing so, improve worker retention across the organization. The term perqs also perks is often used colloquially to refer to those benefits of a more discretionary nature.
Common perqs are take- home vehicles, hotel stays, free refreshments, leisure activities on work time golf, etc. They may also be given first chance at job promotions when vacancies exist. According to Marshall employee relations is a multidisciplinary field that studies the employment relationship. Employee relation is increasingly being called employment relations because of the importance of non- industrial employment relationships. Many outsiders also equate industrial relations to labour relations and believe that industrial relations only studies unionized employment situations, but this is an oversimplification.
Industrial relations scholarship assumes that labour markets are not perfectly competitive and thus, in contrast to mainstream economic theory, employers typically have greater bargaining power than employees. Industrial relations scholars therefore frequently study the diverse institutional arrangements that characterize and shape the employment relationship— from norms and power structures on the shop floor, to employee voice mechanisms in the workplace, to collective bargaining arrangements at company, regional, or national level, to various levels of public policy and labour law regimes, to "varieties of capitalism" such as corporatism , social democracy, and neo-liberalism.
According to Watson , employee benefit plans involve the body of work concerned with maintaining employer-employee relationships that contribute to satisfactory productivity, motivation, and moral. Essentially, employee-relations are concerned with preventing and resolving problems involving individuals which arise out of or affect work situations.
The term is no longer widely used by employers but summons up a set of employment relationships that no longer widely exist, except in specific sectors and, even there, in modified form. The decline can be measured on a number of different dimensions. From a peak of some 12 million plus, union membership has fallen to around 7 million today. At the same time, the range of issues over which bargaining took place decreased massively.
The Workplace Employment Relations Survey WERS showed that union officials spent most of their time not on negotiating pay and conditions but in supporting grievances on behalf of individual members. Even where collective bargaining continued, its impact on the exercise of management discretion was greatly diminished. The shift in the coverage and content of collective bargaining has been reflected in a dramatic reduction in industrial action since The number of working days lost per 1, union members decreased from an annual average of 1, in the s to 76 in the s.
They remain low and are below the levels in many other developed countries. According to Richard , employee performance and productivity is a measure of output from a production process, per unit of input.
For example, labour productivity is typically measured as a ratio of output per labour- hour, an input. Productivity may be conceived of as a metric of the technical or engineering efficiency of production. As such, the emphasis is on quantitative metrics of input, and sometimes output. Production is a process of combining various material inputs and immaterial inputs plans, know-how in order to make something for consumption the output. The methods of combining the inputs of production in the process of making output are called technology.
Technology can be depicted mathematically by the production function which describes the relation between input and output. The production function can be used as a measure of relative performance when comparing technologies. The production function is a simple description of the mechanism of economic growth.
Economic growth is defined as any production increase of a business or nation whatever you are measuring. It is usually expressed as an annual growth percentage depicting growth of the company output per entity or the national product per nation.
Real economic growth as opposed to inflation consists of two components. These components are an increase in production input and an increase in productivity. One of such trends is aligning wages to the organizations goals. Others include tailoring compensation to the needs of employees; better salary, and pay equity Various existing theories to support this argument have been identified and one of such is the Reinforcement theory which is propounded by B.
Fisk Hence, rather than considering internal factors such as attitudes, feelings,impressions and other cognitive behaviour, employers should keep on making positive changes in the external environment of the organization.
This theory though focuses on the link between rewards and behaviour too emphasizes expected rewards rather than experienced rewards. In other words, it is mainly concerned with effects of incentives.
Why employee motivation is important and how to improve, measure and maintain it
Most employees need motivation to feel good about their jobs and perform optimally. Some employees are money motivated while others find recognition and rewards personally motivating. Motivation levels within the workplace have a direct impact on employee productivity. Workers who are motivated and excited about their jobs carry out their responsibilities to the best of their ability and production numbers increase as a result. An incentive is a motivating influence that is designed to drive behavior and motivate employees to be produce quality work. Employers use several types of incentives to increase production numbers.
Some of the significant results of this study are: employee benefit programmes have greater impact on work- motivation than on productivity; monetary benefit pro- grammes are most highly valued by both executives and workers; there is a cognitive gap between management and worker on the importance of employee benefit.
Impact of employee benefits on work motivation and productivity
There are companies that sadly fail to understand the importance of employee motivation. In this article, we look into why employee motivation is important in any businesses or companies. There are several reasons why employee motivation is important. Without a motivated workplace, companies could be placed in a very risky position. Motivated employees can lead to increased productivity and allow an organisation to achieve higher levels of output.
Employees Remuneration like- salary, wages, reward, payment encourage them to work in a satisfactory level. The motivational process is depending on the remuneration and it highly related with the employees productivity. The motivation and productivity has positive relationship.
The Impact of Motivation on the Performance of Employees
One way of maintaining good and healthy employee relations in an organization is by attaching lucrative benefits to every job and task carried out by every employee in that organization. Employee benefits which are the various non-wage compensations provided to employees in addition to their normal wages or salaries cannot be over looked by the management of an organization, since the human resource of an organization is the most valued resource. This current era is highly competitive and organizations regardless of size, technology and market focus are facing employee retention challenges. To overcome these restraints a strong and positive relationship and bonding should be created and maintained between employees and their organizations. To enhance this strong and positive relationship, employees should be motivated to put in their best by providing employees with certain lucrative employee benefits like performance bonuses, Christmas bonuses, study allowances, leave allowances etc. Human resource or employees of any organization are the most central part so they need to be influenced and persuaded towards tasks fulfilment.
Everyone works in expectation of some rewards, and welfare is one of them. Hong, J. Report bugs here. Please share your general feedback. You can join in the discussion by joining the community or logging in here. You can also find out more about Emerald Engage. Visit emeraldpublishing.
When researchers measured the total motivation of employees, they saw that those forced to work from home were the least motivated. The key is for leaders to make sure their weekly routines are not focused only on the tactical work. Many leaders have crossed the first hurdles of moving their teams remote : ensuring colleagues have set up their tech tools, defined their processes, and permanently logged into their video conference accounts. But this is just the first step towards creating an effective work environment for remote employees. The next critical question we must ask is: How do you motivate people who work from home?
on motivation and its impact on employee productivity drawing Hygiene or extrinsic factors, such as salary, benefits and job security are.