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The purpose of the thesis was to investigate and analyze how well the current PRP and Reward system of Vihaan Lifecare helps generate employee work motivation. More specifically it aimed to find out which aspects of the PRP & reward system functions well, and which aspects could be further developed and improved in order to increase employee satisfaction. The theoretical part of the study introduces different theories of motivation and rewarding. The empirical part of the thesis was conducted by using a Exploratory and descriptive research design. Stratified and Quota sampling has been used to select a sample from the population. The researcher contacted 90 employees in office and request was made to them to fill up the questionnaire with correct and unbiased information. The aim of the research was to compare the different reward systems used in Vihaan Lifecare results revealed how they can develop their reward system by including the employees in the decision making process. The research supports the assumption that a well developed and functional PRP &reward system can increase employee motivation and satisfaction.

international journal for research in applied science and engineering technology

A Study on Performance Related Pay and Reward System in Private Organisations with Reference to Vihaan Lifecare Pharmaceutical Company Bilaspur (C. G.)