Impact of Rewards on Employee Motivation of the Telecommunication Industry of Bangladesh: An Empirical Study

Abstract

In the age of globalization organizations have realized the importance of their human resources and become increasingly interested in managing employees in such a way that can enhance business performance. To ensure competitive advantage, people who are working for the organization should be motivated by providing a well-balanced reward and benefit system. The purpose of this study is to identify the relationship between rewards (extrinsic and intrinsic) and their impact on employee performance and actions to motivate the employees of Telecommunication industry. The data was collected from 81 employees of different telecommunication companies and was analyzed using mean values and frequency percentage tables. The result concludes that, with the advancement in the career path, income level and age intrinsic rewards become the vital factor for the employee motivation. However, organizations should consider for a more structured reward system that considers both intrinsic and extrinsic rewards which in turn prospers high performance culture in the telecom industry.