SYNOPSIS

1. TITLE OF THE STUDY A Study on Employee Rewards and recognitions at Mondovi Motors Private Limited Bangalore. 2. INTRODUCTION The companies maintain some type of rewards and recognition program. Majority of companies use these program to create a positive work environment, improve employee morale, and motivate high performance .research suggests that when designed and implemented properly, rewards and recognition positively affects an organization bottom line. According to the survey conducted by world at work and the national association for employee recognition (NAER) the majority of the companies maintain formal and informal rewards and recognition program and their use is becoming increasingly prevail. Rewards and recognition program supports goals and values. Sincere and simple. Meaningful. Relevant And timely needs and activities The world work and near survey found that companies use rewards and recognition program to achieve strategic goals of the companies with formally documented program and directly align the rewards and recognition programs with organization business strategy and also the study identified the following driving forces for implementing and maintaining reward and recognition program. Some Key goal of reward and recognition program are: Support culture change. Encourage loyalty Increases retention Support organization mission Increases employee morale Reinforces desired behavior Motivate high performance Create culture of recognition Create a positive work environment. 3. STATEMENT OF PROBLEM

The fast growing four wheeler industry leads to serve competition among its manufactures. Over the years employees rewards and recognition towards the

organization has gained more importance. Attaining rewards and recognition to the employees in the organization is a major goal of industry. The study has based on the factors that have impact on the employees and which can create reward and recognition to the organization .it motivates employees to do more effective work,

4.

NEED OF THE STUDY

In the organization rewards and recognition of the employees towards doing their work better, and also identifying the reason or the problem for low level of motivation among the employees and solving them is very much important. As the employees contribution is very much important for the organization to grow in the business field, they must be rewarded for their work, encouraged to do their work effectively and efficiently. This in return helps the organization to have internal strength to improve productivity, profits which also help in reducing employee turnover, absenteeism, interpersonal conflicts etc. rewards and recognition of motivating factors increases the reputation of the organization in the market and hence attract competent and willing workforce to an organization. The present study gives the managers and employee teams of all levels, the capability to improve their organizations direction, traction, and speedand most importantly, to move it in the right direction. That direction should be as clear and focused as a laser beam, pointing toward its defined strategy. The study reinforces need for employees rewards and recognition it improves employees performance at work, when the company uses the incentives and reward programs it motivates the employees It satisfies the employee needs and wants. It improves the image of the organization. 5. OBJECTIVE

 The primary objective of an employee rewards recognition program is to motivate employees to do what business needs then to do. The challenge is identifying the circumstances that will effectively stimulates the employees to produce long term, measurable benefits for the business the accomplishment of the desire results depends on the ability to define preciously what they are trying to accomplish and why its importance . To know the factors influencing the rewards and recognition. To know which according to the employees should be more prioritized. The secondary objective is to identify the employees expectation from rewards and recognition system. To ascertain the motivational drivers that help to create on engaged workplace. The following are five essential for developing incentives program objectives. 1. To gain a complete understanding the current performance environment 2. Substantiate business priorities and determine where incentives will have the greatest impact. 3. Explicitly identify what needs to accomplished and why that is important to company and participates 4. Ensure consistencies with originations vision and values 5. Confirm the results will be measurable and objectively evaluated. Improving employee morale is the main objective of the reward and recognition program. 6. Scope The study on employee rewards and recognition at Mondovi motorsis descriptive. The study covers wide range of activities like identifying the factors causing low and high level of rewards and recognition the study is restricted to one distributor of Maruti motors. The survey covers 50 respondents. Ti also limits the study to one workshop of Mondovi motors. The study is based on the customer feedback in and around Bangalore.

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RESEARCH DESIGN 7.1TYPE OF RESEARCH: Descriptive in nature. 7.2POPULATION: The number of employees in Mondovi motors is 2000. 7.3 SAMPLE SIZE:

The sample size required for the study at Mondovi motors is 50 employees. 7.4 SAMPLE FRAME: The information will be collected with help of employee database of the Mondovi motors. 7.5 SAMPLING UNIT: The sampling will be done at middle and lower level of employees. 7.6 TYPE OF SAMPLING: Non probability will be used in study. 7.7 TOOLS OF DATA COLLECTION: >PRIMARY DATA; Questionnaire, interview >SECONDARY DATA; Books, magazines, newspapers, internet etc. 7.8 DATA ANALYSIS: The information will be collected from various sources will be tabulated and Represented using tables and graphs like bar diagrams, pie charts etc, Inferences will be made. 8 POSSIBLE OUTCOMES OF THE STUDY Improves employees performance at work, when the company uses the incentives and reward programs it motivates the employees at Mondovi motors Improves the level of motivation of the employees Improves employee morale and commitment. Reduces the dissatisfaction level of employees in their jobs. Improves the working and living conditions of the employees. It improves the image of the origination. It satisfies the employees needs and wants.

9. OPERATIONAL DEFINATIONS REWARDS AND RECOGNITION Rewards and Recognition program to achieve strategic goals of the companies with formally documented program and directly align the rewards and recognition programs with organization business strategy and also the study identified the

following driving forces for implementing and maintaining reward and recognition program. MOTIVATION: Motivation is a term that refers to processes that elicits controls and sustains certain Behaviors. It refers to the drive and efforts to satisfy a wants or goal. Motivation is the process, which influence the people to act. The process involves needs, drives and goals. Drives are called motives and they behavior in the process of motivation.

INCENTIVES: Incentives are monetary benefits paid to work man in recognition of their improved performance. An incentive schemes is a plan or program to motivate individual or group employee is most frequently built on monitory, but may also include a Varity of non monetary rewards or prices.

COMPENSATION Compensation refers to all forms of financial returns and tangible service and benefits employee receives as part of employment relation ship. It is divided into direct and indirect components the term direct compensation is used to describe financial remuneration like cash and includes elements such as basic pay, dearness allowance, over time pay, incentives bonus etc in direct or fringe benefits such as provident fund pension scheme medical health and other benefits.