MBA Project Report on Reward System Download in Pdf

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I am in Final Semester of MBA Program. I have to make a major project report based on Promotion and Reward Policy of SBI. So do you know from where I can download sample pdf file of Project Report based on Promotion and Reward Policy of SBI for MBA students?

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As you are looking for Project Report based on Promotion and Reward Policy of SBI in pdf format, so here I am providing a sample Project Report:

Sample Project Report on Promotion and Reward Policy of SBI

CHAPTER 1
INTRODUCTION
1.1 Promotion:
Each organization needs to maintain a balance between the internal sources of personnel promotion and external sources by means of recruitment. Hence, promotion must be based on consistent, fair and clear cut policy. The National Institute of Personnel Management (NIPM) has suggested a promotion policy on the following lines: Drawing up an organization chart to make clear to all the ladder of promotion. Where there is a job analysis and a planned wage policy, such chart is quite easy to prepare.

Making the promotion system clear to all concerned who may initiate and handle cases of promotion. Though departmental heads may initiate promotion, the final approval must lie with the top management, after the personnel department has been asked to check from its knowledge whether any repercussion is likely to result from the proposed promotion.
All promotions should be for a trial period to ascertain whether the promoted person is found capable of handling the job or not. Normally, during this trial period, he draws the pay of the higher post, but it should be clearly understood that if he does not make the grade‖ he will be reverted to his former post and former pay scale..

1.2 Reward System
Fat pay package, quicker promotions and incentives are not enough any more.
Employers need to listen what employees want.‖
A ‗eward or ‗ncentive can be anything that attracts a workers attention and stimulates
him to work.

In the words of Bureckm and Smith reward systems is a plan or programme to motivate individual or group performance.‖ An incentive programme is most frequently built on monetary rewards, but also includes a variety of non-monetary rewards or prizes

On the other hand French says the incentive system has a limited meaning that excludes many kinds of inducements offered to people to perform work, or to work up to or beyond acceptable stands. It is related with wage payment plans which tie wages directly or indirectly to standard productivity or to the profitability of the organization or both criteria.

The use of incentives assumes that peoples actions are related to their skills and abilities to achieve important longer run goals. Even though many organization by choice or by tradition or contract. In fact rewards on non performance criteria, rewards should be regarded as a pay off‖ the performance.

Jack Zigon defines rewards as something that increase frequency of an employee action. This definition points to an obvious desired outcome of rewards and promotion: to improve performance

An incentive plan has following important features:-
1. An incentive plan may consist of both monetary and non-monetary elements. Mixed elements can provide the diversity needed to match the needs of individual employees.
2. The timing, accuracy and frequency of incentives are the very basis of a successful incentive plan.
3. The plan requires that it should be properly communicated to the employees to encourage individual performance, provide feedback and encourage redirection.

1.3 Determinants of Rewards
These features are contingencies, which affect the suitability and design of rewards to varying degrees. The effective use of rewards depends on 3 variables.
Individual
Work situation
Incentive plan

1. The individual and the rewards:
Different people value things differently. Enlightened managers realize that all people do not attach the same value to monetary rewards, bonuses, prizes or trips. Employees view these things differently be of age, marital status economical need and future objectives .however even though employees reaction to rewards varies greatly, rewards must have some redeeming merits. For e.g. there might be a no of monetary and non monetary rewards to motivate employees.

2. The work situation:
This is made up of four important elements,
1) Technology:
Machine or work system, if speed of equipment operation can be varied, it can establish range of the rewards.

2) Satisfying Job Assignment:
A workers job may important a number of activities that he finds satisfying. Rewards may take the form of earned time off, greater flexibility in hour worked, extended vacation time and other privileges than individual values.

3) Feedback:-
A worker needs to be able to see connection between works and rewards. These responses provide important reinforcement

Download the complete project report here.