Rewards from around the globe and provides data

Rewards and their impact are turning into an issue
of concern for all. Along these lines effective reward management deal with
setting procedures, policies and strategies. In the current international
economy with its prevailing competitive setting, corporations frequently verify
that their workers are their overall most helpful resource. Firms’ organization
structures are heavily obsessed with workers that influence the organization
through their engagement, attitudes and motivation.

The long run of companies are within the hand of
individuals engaged on behalf of the corporate as workers, and also the
importance of human resources brought to centre stage, more than ever before ( (Bhattecharya
& Mukherjee, 2009).

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 Alma Whiteley
(2010) describes that all people are concerned with motivation to some degree
and one thing that all employees have in familiar is the fact that higher
motivation boost performance. Nonetheless, to get employees to outperform
during all conditions is one of the most crucial challenges managers are
facing. Workers driven to figure additional with efficiency and to support the
company’s values and goals, they have to compensate through rewards. The reward
structure considers encourage skilled employees to stay within the organization
as well as boost the motivation and commitment to the organization and
therefore develop the productivity.

As of these days, it’s well known that employees’
motivation and engagement depends on the perceived feeling of being fairly
rewarded for one’s skills, knowledge and contribution. Companies have totally
different objectives and since the reward methods are reflective the company’s
organizational culture, they have to be tailored to their particular business
objectives.

Nowadays, it’s unfeasible to retain workers solely
by paying high wages and offering attractive benefits. In this research, the
researcher had chosen NOL Global Services Centre Sdn. Bhd. NOL Global Services
Centre Sdn. Bhd. is one of the established shared service companies that are
more emphasize on shared service center industry. According to Deloitte
Financial Report, shared services center industry (SSC) the survey finds that
the number of SSCs surveyed experiencing turnover rates of 20 percent or higher
has tripled since 2015, With the average turnover rate increasing by 2 percent
overall. This year’s survey includes input from more than 330 companies from
around the globe and provides data for more than 1,100 SSCs globally. Survey
participants represented companies from most sectors with annual revenues
ranging from less than $1 billion to more than $25 billion. This is same goes
to NOL Global Services Centre Sdn. Bhd. as according to the HR Manager the turnover
rate also increase year by year.  Therefore,
one of the reasons regarding to high turnover rates might because of motivation
that company provides to their employees. Furthermore, the replacement of new
workforce into SSCs industry is seems to be difficult as employee are required
a period of training, system familiar and knowledge in solving issue. Therefore,
retention and improving job performance of currently owned employees would be
crucial to the company for sustainability and survival.

All of that reason will lead to low productivity and
decrease the employee’s motivation. Hence, the research is identify the impact
of extrinsic and intrinsic rewards on employee motivation at Neptune Orient
Lines Sdn. Bhd. and what should be company done to get the employee motivated
and retained, so the productivity of company can be attained.

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