Effective Reward System and Employee Motivation: A survey of Selected Food Processing Firms in Nigeria
[Topic] Effective Reward System and Employee Motivation: A survey of Selected Food Processing Firms in Nigeria Introduction In any company or organization, it is important to generate and maintain an effective reward system that would cater to the needs of its human resources. The reward system offered in different companies may come in various and concrete forms. These may either be 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 (Caruth & Handlogten, 2001). Furthermore, a formalized corporate reward system is necessary because it would appeal to capable and skilled people to fill the available positions in a specific organization. Additionally, such method would promote acceptable levels of turnovers because the present human resources would be encouraged to stay in the organizatio...