IMPACT OF REWARDS ON PERFORMANCE OF DIVERSE WORKFORCE IN BANKING SECTOR
The focus of the research was performance of employees in relation to rewards because performance is the most important factor in determining the organization’s future. The purpose of the study was to analyze how rewards impact performance of workforce in banking sector of Karachi. The methods that used in research were both qualitative and quantitative. The subjects were the employees from a commercial bank of Karachi to which questionnaires were administered. The study identified that there existed a significant relationship between rewards and performance yet the diversity in the workforce had different motivation level for the different rewards. It was concluded that HR while designing and executing the reward system for workforce must consider the challenges of workforce diversity. Covid-19 has changed the environment of work place internationally as well as nationally, so it is mentioned the concept of Basic Income.(UBI).
Ajila, C., & Abiola, A. (2004). Influence of Rewards on Workers Performance in an Organization. Journal of Social Sciences, 8(1), 7-12.
Cascio, W. F. (1995). Managing human resources: productivity, quality of work life, profits. McGraw Hill.
Eikhof, D.R. (2020). COVID-19, inclusion and workforce diversity in the cultural economy: what now, what next? Cultural Trends, 29(3), 234-250, DOI: 10.1080/09548963.2020.1802202
Imran, M., Khan, K., & Farooq, S. U. (2010). The Relationship between Rewards and Employee Motivation in Commercial Banks of Pakistan. Research Journal of International Studies, (14), 37-52.
Irvine, D. (2010). How to Reward Multigenerational and Culturally diverse workforce. World at work, Workspan. Retrieved from https://www.pwc.com/gx/en/people-organisation/pdf/pwc-preparing-for-tomorrows-workforce-today.pdf
McMullen, T., & Stark, M. (2008). The Role of Line Managers and HR in Reward Program Effectiveness. WorldatWork, 30-43.
Moorhead, G., & Griffin, R.W. (1989). Organizational Behavior (2nd Ed.). USA: Houghton Mifflin Company.
Pratheepkanth, P. (2011). Reward System and its impact on employee motivation in commercial bank of Sri Lanka Plc. In Jaffna district. Global Journal of Management and Business Research, 11(4), 85-92.
Purcell, J., & Sue, H. (2007). Rewarding Work the Vital Role of Line Managers. Corpus ID: 167681143. Retrieved from https://www.semanticscholar.org/paper/Rewarding-work%3A-the-vital-role-of-line-managers-John-Sue/a17b98df0b7d5f1239b170803732bda812305503#citing-papers
Shields, J. (2007). Managing Employee Performance and Reward. Cambridge: Cambridge University Press.
WorldatWork. (2010). WorldatWork Research: The Relative Influence of Total Rewards Elements on Attraction, Motivation and Retention. Retrieved from https://www.worldatwork.org/docs/research-and-surveys/worldatwork-sponsored-research/research-report-the-relative-influence-of-total-rewards-elements-on-attraction-motivation-and-retention.pdf