Impact of rewards and recognition on employee commitment- a perspective of the bank employees

With a tough battle of sustaining growth and employee commitment, organisation's look to a variety of methods that ensure employee engagement, productivity, and loyalty. Innovative, viable and sustainable rewards and recognition programs have become ‘must-have’ tools for an organization and its managers to motivate employees. Rewarding practices fulfill employees’ needs to be fairly rewarded for their capabilities, efforts and contribution. It is generally defined as - ‘rewards and recognition as the powerful tools, used by an organization to motivate the employees’. This paper includes a descriptive study of Rewards and Recognition and to analyse the level of impact on employee commitment on the basis of convenient sampling from different banks. With the variables Rewards, Recognition practices and Employee Commitment, the study discovers the most important factors that influence or motivate employees to work and be highly committed to work in the banking sector.