A Study on Workforce Well-being through Rewards and Organizational Support Systems

Abstract The success or failure of an organization depends on the employees of that organization, because employees are a priceless asset. So, it is essential that the organization always looks after the interest of the employees. Especially in today's competitive business world, an organization can run well only when there are good employees. So, the organisation must ensure that the employees are always satisfied. This paper is discussing about role of monetary and non-monetary benefits and extra measures to see the employee satisfaction at the workplace. Monetary benefits are salary, bonus and incentives etc. non-monetary benefits are employee participation in management, career advancement, skill development programs etc. and some timely measures like stress controlling activities, enhancing cordial relationship between employees, feel the belongingness about the organisation etc. Studies have shown that non-monetary benefits are more effective than monetary benefits, as the salary and other forms of money received are depleted but the non-monetary experience is remembered for a long time. Also, the organisation must take care of the employees by acting on time.