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s and organisational goals in exchange for rewards. A reward system is great at motivating employees but they will also be motivated to prove themselves to the organisation.

Absenteeism-A reward system will reduce absenteeism in the organisation. Employees like being rewarded for a job well done and if there is a reward system in place, employees will be less likely to be ringing in sick and not showing up for work. Also by having a reward system in place the employees will be clearer about the targets and goals of the organisation as they will be rewarded when reach certain targets. So by having a reward system as an incentive they will be less likely to be absent from work.

Loyalty-A reward system will increase the employee's loyalty to the organisation. By a reward system being in place the employee feels valued by the organisation and knows that their opinion matters. If an employee is happy with the reward system, they are more likely to appreciate work place and remain loyal to the organisation

Morale-Having a reward system in place providing employees with incentives and recognition will boost their morale. By encouraging employees to meet goals and targets it gives them clear focus and purpose which will their morale. By the employees morale being boosted this will increase the morale of the entire organisation. This is all down to a reward system in the organisation.

Teamwork- The reward system will increase the teamwork spirit in the organisation. The reward system will promote teamwork to the employees. The employees will work together as part of a team to achieve their targets in return for rewards. Teamwork within the organisation will help increase efficiency and create a happier workplace. This is another reason why reward systems are important in business organisations.

奖励系统的类型-Types of Reward Systems

There are several ways to classify rewards; the three most common types are as follows:

Intrinsic Rewards Vs Extrinsic Rewards-

Intrinsic rewards are the personal satisfaction you get from the job itself eg having pride in your work, having a feeling of accomplishment or being part of a team. If an employee experiences feelings of achievement or personal growth from the job, this would be labelled as an intrinsic reward.

Extrinsic rewards would include money, promotions and other benefits. Extrinsic rewards are external to the job and come from an outside source, usually management. If an employee receives a salary increase or a promotion, this would be labelled as an extrinsic reward.

Financial Rewards Vs Non-Financial Rewards-

Financial rewards are those that will enhance the employees financial well-being directly eg bonus, increase in wages and profit sharing schemes.

Non-financial rewards do not enhance the employee's financial position directly but make the job more attractive. Some of the Non-financial rewards that a business organisation offer might include-an attractive pension scheme, access to private medical care, help with long-term sickness, crèche facilities, counselling services, staff restaurant etc.

Performance-Based Rewards Vs Membership-Based Rewards-

The rewards that a business organisation gives to their employees can be based on either their performance or membership criteria. P