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Final Synopsis Anitha M

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Final Synopsis Anitha M

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krithikusuma
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A Synopsis on

IMPACT OF COMPENSATION AND REWARD MANAGEMENT


SYSTEM ON ORGANIZATIONAL PERFORMANCE AT SOFTWARE
PRO TECHNOLOGY PRIVATE LIMITED

Submitted By
ANITHA M
(USN: 1VW22BA005)

Submitted to
VISVESVARAYA TECHNOLOGICAL UNIVERSITY, BELAGAVI.
In partial fulfilment of the requirement for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION

Under the Guidance of

Internal Guide External Guide


Dr. H H Ramesha. Mr. Mahaboob Pasha
Associate Professor, Managing Director
Department of MBA, Software Pro Technology
VTU, Centre for PG Studies, Pvt. Ltd.
Muddenahalli Chickaballpura

DEPARTMENT OF MBA
VISVESVARAYA TECHNOLOGICAL UNIVERSITY
Centre for Post Graduate Studies - Bangalore Region
Muddenahalli, ChickaballapurTq. & District- 562101
2022- 2024
TITLE OF THE STUDY
IMPACT OF COMPENSATION AND REWARD MANAGEMENT SYSTEM
ON ORGANIZATION PERFORMANCE.

INTRODUCTION

Organizations no matter their nature (be it private or public), always aim at


achieving their corporate goals; otherwise, the survival of such enterprise will be
more of a dream than reality. The success of any organization is often measured by
the degree of its productivity. Meanwhile, this can however be said to be more
dependent on the attitude and morale of the workers in form of their level of job
commitment (Aborisade and Obioha, 2009). Low productivity is a problem that
thrives in many developing countries around the globe though it is not limited to the
developing societies only. It is generally believed that without man (in generic)
nothing can be put in place in any organization. Thus, man is the factor that utilizes
other resources available within the organization for the production of goods and
services in order to satisfy individual’s needs.

In a more competitive business sphere, more business owners are looking for
improvements in quality while reducing costs and this has heightened the conflicts
between the goals of the employees and the management: While organisations are
trying to get more from their employees, their employees are looking for more out
of them (Adeoti 2009). Thus, when human resources are maximally utilized and a
maximum output is realized, it leads to the realization of the goal of the organization
associated with these productive activities. The extent to which these human
resources are utilized effectively depends on a number of factors vis-à-vis the skills
they (employees) possess, their level of knowledge, how much they can derive from
participating in productive enterprise and many other factors which all play very
imperative roles in productive activities. In as much as the interests of the
employers and the employees are dissimilar, it becomes necessary that workers be
inspired to put in their best performance at work.

One of the most effective ways of doing this is to operate good reward management
that is capable of motivating workers. The focus of this paper therefore is to
examine reward system and its effect on performance of workers.

STATEMENT OF THE PROBLEM

Organization tend to focus more on other resources like materials, machine, and money and view
employees as an additional cost and liability to their operation, without much or any respect for the
contribution of human resources, they focus more on enhancing the business and manufacturing
processes. The result it they underpay the effort and talents that employees give something to the
business’s operation. As a result, these organizations are unable to fulfill their aims and ambition
The quantity of attention paid to employee reward policies by an organization, along with other
criteria, greatly influence its performance. Given this banking the most crucial element of is the
industry. Modern economics, this concentration is also crucial. The current research tries to
ascertain how the Compensation and Reward System affects organizations performance in view of
this.

SIGNIFICANCE OF STUDY

Studying the impact of compensation and reward system on organization performance is crucial as
it helps understand how incentive drives employee motivation, productivity, and retention. It offers
insights into designing effective strategies to enhance performance, attract top talent, and sustain
competitiveness in the market.

OBJECTIVES OF THE STUDY:

1. To study the current compensation and reward management system followed at Software Pro
Technology Private Ltd.
2. To understand the impact of compensation and reward management on organizational
Performance.
3. To analyze the needs for management to create a management working environment by
adopting fair reward system that effect the performance system.
4. To suggestive good reward compensation policy wish should be channeled towards increase
organization productivity
SCOPE OF THE STUDY
The impact of compensation and reward management systems on organizational performance
typically involves analyzing various factors such as employee motivation, productivity, job
satisfaction, retention rates, and overall financial performance of the organization. It often
incorporates elements of human resources management, organizational behavior, and strategic
management to understand how different compensation and reward strategies influence employee
behavior and organizational outcomes.

IMPORTANCE OF THE STUDY

 It helps organizations understanding how to effectively incentivize and motivate employees,


leading to higher productivity and moral.
 It allows companies to attract and retain top talent by offering competitive compensation
packages.
 It provides insights into how to allocate resources efficiently and align compensation
strategies with overall business goals.
 It help identify areas for improvement in compensation structures, ultimately enhancing
organizational effectiveness and competitiveness.

RESEARCH METHODOLOGY:

The research is intended to be descriptive. A scenario is described in detail and accurately in


a descriptive research. The approach used in this design is mostly qualitative in nature and
uses descriptive productivity statistics.

SOURCES OF DATA:

 PRIMARY DATA:
Primary data is the new data collected through personal interview and questionnaires.

 SECONDARY DATA:
It is collected through the various sources like company records, journals, reports,
newspapers and websites.
HYPOTHESIS STUDY

A hypothesis is an unproven assertion on the connection between two or more variables It


is a specific, testable predictions of what will be found at outcome of the research project
and is typically focused on the relationship between two different studies in the research. It
is a presumption on the basis of which a study has to be conducted. This hypothesis is tested
for possible rejection or acceptance.

Hypothesis is a concept or idea that can be tested through research and experiments.

TYPES OF HYPOTHESIS

There are two types of hypothesis,

1. Null hypothesis
2. Alternative hypothesis

Hypotheses statement formulation:

H0: There is no impact of compensation and reward system on organizational performance.

H1: There is an impact of compensation and reward system on organizational performance.

Tools used for the study: -


 The data was gathered using a structured questionnaire.
 The respondents were given a structured questionnaire to fill out, and data for the
study was collected from them and simple percentage analysis and chi square
methods used for data analysis.

LIMITATIONS:

 The greater part of the laborers is unskilled, so it was hard for them to under address.
 Populace study is restricted for overview.
 A portion of the data was not accessible because of the secret matter.
 The workers were hesitant to give right data .
 Time of study is excessively short and thus it is a significant impediment.
CHAPTER SCHEME

 Chapter 1: Introduction
 Chapter 2: conceptual background and Literature review
 Chapter 3: Research design
 Chapter 4 : Data analysis and Interpretation
 Chapter 5: Summary of findings, Conclusion and Suggestions

Reference

1. Dharmaraj, R (2023) A studuy on impact of compensation and reward system on the


performance of organization in TF air system private Ltd.

2. Shikha Mahato and Jaspreet Kaur (2023) the impact of compensation and reward system
on the performance of employees.

3. Ms. Kavya BK (2022) A Study on impact of compensation and reward system on the
employees performance with reference to inventeron technologies, Bangalore.

4. Ajayi Femi Michael (2016) The impact of compensation and reward system on the
performance of the Nigerian banking industry.

5. Brian Kabhogho (2015) the impact of compensation and reward system on the
performance of an organization.
LITERATURE REVIEW:

1. Dwi Surya Atmaja (2023):

In general, performance management is a communication effort that is carried out on an


ongoing basis between employees and their superiors with the aim of achieving the main goals
of a company (Helmold, M., & Samara, W., 2023; Aguinis, H., 2023). The presence of this
management is really needed in a company because it can help align employees with other
resources so that the company's goals are achieved optimal.
2. Supaprawat Siripipatthanakul (2022):

Economic uncertainty, intense competition, and construction industry restructuring have put
tremendous pressure on construction companies to constantly improve their productivity and
performance (Hany Abd Elshakour et al., 2013). Human resource management (HRM) is one of
the essential factors in maintaining a company's competitiveness. Talent management has long
been considered a component of HRM strategies.
3. Govand Anwar, Nabaz Nawzad Abdullah (2021):

The present research aimed at examining the association between HRM practices and
organizational performance. The literature reviewed, such as Stavrou, et al, (2007); Vlachos,
(2009); Çalişkan, (2010); Arumugam, et al, (2011); Mohamad, (2009) and Gbolahan, (2012
have indicated that there is a positive link between HRM practices and organizational
performance. Based on an intensive study of literature review, the study hypothesized that the
following HRM practices.
4. Elizabeth Nambuswa Makokha (2018):

Remuneration systems provided in an organization should aim at motivating, attracting and


retaining employees in an organization to enhance better performance, However in many public
organizations in Kenya, remuneration systems continues to be a major problem resulting to
divined organizational performance. The general objective of the study was to establish the
effects of remuneration system on organizational performance in public organizations with
reference to Teachers Service Commission.
5. S. Martono (2017):
One of Universities Negeri Semarang’s goals in its 2015-2019 Business Strategy Plans is
to organize and develop institutional governance addressed towards stakeholder welfare by
following good university governance principles. Universities Negeri Semarang with its
academic and organizational management autonomies should be capable of bringing about
welfare for its stakeholders, in particular its employees, to allow them to develop their
performance professionally and to be more productive.

6. Ali Kadhim Alaraqi (2016):


Human resource is the most important factor for any organization’s success. HR indeed is
increasingly noticed as fundamental component of competitive advantage for the modern
organization. Employees remain the most valuable assets to gain competitive advantage.
However, they are the most difficult asset to manage in any organization. Thus, effective
management of HR requires simultaneous use of different HR systems within organizations.

Schedule to be followed during project work

ACTIVITY TIMELINE

Understanding structure function and culture of the organization’s /


identifying business problem from the industry from the literature First week
review of project

Preparation of the research design and 2nd week of the


research instrument for data project
collection

Data collection 3rd week of the


project

Analyzing and Finalizing of the report 4th week of the


project

Submission of the report 5th week of the


project

Student of the signature signature of the guide

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