Reward system of private organization

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Reward system of private organization

  1. 1. Reward System of Private Organization.
  2. 2. Introduction• Understanding what motivates people is necessary at all levels of management. Motivation is generally linked to reward, and it is widely recognised that reward management is central to the regulation of the employment relationship.• The reward system varies from organization to organization, and comes in various and concrete forms, including monetary or non- monetary, tangible or intangible, and physical or psychological, and these are offered to the employees as compensation for the productive work they execute.• An effective reward system can serve the strategic purposes of attracting, motivating, and retaining employees to achieve organisational goals.
  3. 3. • Types of Reward – Extrinsic Reward – Intrinsic Reward• Objectives Reward systems have three main objectives: – to attract new employees to the organization, – to elicit good work performance, – and to maintain commitment to the organization.• Attraction• Commitment• Direct v/s Indirect Pay
  4. 4. Right To Play• Right To Play an NGO, which is committed to every child’s right to play. We give children a chance to become constructive participants in society, regardless of gender, disability, ethnicity, social background or religion. Through games and sports, we help create social change in communities affected by war, poverty and disease.• Providing training and support service/consultancy to Developmental Sector.• Support services includes planning and formulation of developmental projects,• Technical support during implementation, Monitoring & Evaluation,• Training and Capacity Building, Research & Study, Micro Planning.
  5. 5. • Mission To improve the lives of children in some of the most disadvantaged areas of the world by using the power of sport and play for development, health and peace.• Vision To create a healthier and safer world through the power of sport and play.• Values Right To Play’s values reflect the best practices of sport and play. CO-OPERATION HOPE INTEGRITY LEADERSHIP DEDICATION RESPECT ENTHUSIASM NURTURE
  6. 6. SWOT Analysis• Strengths • Opportunities – Direct Aid from Canada – Increased awareness about – Multi Cultural NGO’s – Well paid & Satisfied Employees – Employment Opportunities – Open Door Policies – Organized fund raising – Investment in physical• Weakness infrastructure – Lingering Disputes with Local – Involvement of financial sector Authorities – Beurocratic Procedures • Threats – Being Stop by Govt. to play – Security Threats major role – Short Time projects – Undercover offices & lack of – Govt. Policies Marketing Opportunities – Cut off of funding
  7. 7. • In Right To Play we follow the following type of reward systems : – Incentive & Rewards – Competency Based Pay – Skill Based Pay – Team Based Rewards – Profit Sharing – Merit Pay – Employee Ownership – Employee Benefit
  8. 8. • Conclusion This has been a fairly simplistic presentation of the basics of reward systems, focusing on the main components of organizational reward systems.• Recommendation Pay, promotions, fringe benefits, and status symbols are perhaps the most important rewards. Because these rewards are important, the ways they are distributed have a profound effect on the quality of work life as well as on the effectiveness of organization.

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