Reward and Compensation Management on Performance of Health Care Workers in India

Abstract

Reward and compensation management comes under human resource management. It is concerned with implementing and formulating policies and strategies that aspire to reward employees equitably, fairly and regularly in accordance with their performance and value to the company. Thus, the study sought to examine the impact of reward and compensation management on the performance of healthcare workers in India. The study was literature based. The conclusions and inferences were based on previous studies. Based on the reviewed literature, it was found that reward and compensation management have a significant impact on performance. The reward and compensation system highlights a central attribute of the employment relation. The success or failure of the company primarily relies on its workers. The rewards provided to the workers can raise their performance, dedication, and effectiveness. The study concluded that suitable and regular rewards to workers increase their motivation to work harder and boost general performance. Reward and compensation management's effectiveness positively impacts the health care workers' performance in India. In the lack of appropriate reward and compensation, employees tend to show dissatisfaction through poor performance. The study recommended that hospitals establish effective reward and compensation management systems to motivate employees, thus producing excellent results. The workers' reward and compensation should be made equitable. There should be no favor when it comes to rewarding the employee. Salaries and other compensation payments should be reviewed based on market value and other fundamental requirements.