Importance of Reward in Org as Motivational Factor

Reward system is adopted by the management of the organisation in order to give a fair return to the employees who are giving productive performances in the organisations.

Reward system in the organisation plays the role of the motivation among the employees. The employees are giving their performances in return of the remuneration. The management adopt the mechanisms of reward system in the organisation to encourage the employees to give their best performances and also to measure the effectiveness of the employees in the organisation. The management can get a clear picture about the human resource and its efficiency level in the organisation.

The effectiveness of the reward system at Virgin Media can be assessed in the following way:

1. a) Attracting Talent: Virgin Media gives emphasis on the different working options for attracting the talents like Apprenticeships, internships and full time options etc. Apart from those facilities like medical assurance, child care plans, dental care vouchers, also create an influence in the mind of the candidates when they will evaluate the options. The students can be the part of Virgin Media through the option of apprenticeship or internship where they can earn money while studying. With all these opportunities the effectiveness of attracting the talents towards the organization is high. But the negative side can be the development plans. So such plans are highlighted which can influence the individual to grow their future career prospects.
2. b) Motivation: All the benefits provided by the management of Virgin Media towards their employees are focused both the personal and professional life. Benefits like child care plan, medical insurance for the family will motivate the employees to give their best performances as the organization is also contributing for their families. The management has effectively recognizes the emotional touch points of the employees by providing family care plans which can encourage the employees to give their positive performances for achieving the targets (Virgin Media, 2016).
3. c) Retention: The management of Virgin Media gives their focus to the retention of the employees in order to lower the attrition rate and also the reputation of the organization in the labour market. The candidates who are joined in the Apprenticeship programs they are given opportunity for the fulltime options at Virgin Media based on their performances in that period.

The advantage can be the cost which will be reduced that is associated with recruitment and training. As the employee are well acquainted with the systems and policies. There is also certain disadvantage regarding the reward system followed by Virgin Media as the fresh or dynamic talents can be missed with this approach of Virgin Media.