G. Rewards and honors
The main objective of reward system is to attract, motivate, and
retain the competent employees in an institution. So honoring and
rewarding is the one way to motivate and also to develop their
employees. Honoring and rewarding their workforce’s performance
and actions is an essential part of HRD. A proper reward and honors
system not only recognize but motivates employees and also
communicate the institution’s values to their employees. In HRD
subsystems, inventiveness and use of potential are awarded in order
to encourage the employees and use of positive attitudes and skills
as well in future.
H. Employee welfare and quality of work life
Basically welfare is nothing but the efforts made for anyone for a
well being status and to help or facilitate one so that he/she can
achieve his best performance as well as personal satisfaction.As far
employee welfare is concerned, employee welfare is the provision
provided by the institution, whether cataract in voluntary that
improves employee’s performance and his personal growth, so that
he can put all his efforts to get the institutional success. Institutions
provide welfare services to their employees to keep their motivation
levels high and also to provide better quality of work life. The
employee welfare schemes can be classified into two groups’ i.e.
statutory and non-statutory welfare schemes. The statutory schemes
are those schemes that are compulsory to provide by an institution
as compliance to the laws governing employee health and safety.