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A CRITICAL ANALYSIS OF REWARDS SYSTEM IN PRIVATE SCHOOLS: THE PROSPECTS AND EFFECTS ON THE EMPLOYEE’S LOYALTY
ABSTRACT
The study analyzed the rewards system in private schools, its prospects, and its effects on the employee’s loyalty. Reward systems are made up of compensation, incentives, and any other form of benefit provided by the employing system and environment to the employees as a token of appreciation for their service. Reward systems inspire teaching, which is the lifeblood of secondary education, and one of the major reasons for rewarding teachers is to improve their job satisfaction, which translates to better status and quality of teaching. The study revealed that a well-designed reward system can have significant positive effects on employee loyalty within an organization. When employees perceive that their efforts and contributions are recognized and rewarded, it can lead to increased job satisfaction, motivation, and a stronger sense of commitment. The study concluded that the reward system in private schools creates a complex interplay between employee loyalty, performance, and overall organizational effectiveness. The prospects and effects of employee loyalty within the context of the reward system are influenced by various factors, including the design of the reward structure, the alignment of rewards with organizational goals, and the individual motivations of employees. Private schools that have a well-structured and strategically designed reward system are more likely to foster employee loyalty. One of the recommendations made was that Private schools should ensure that their reward systems are strategically designed to align with the school's mission, values, and goals.
KEYWORDS: Rewards System, Private Schools, Prospects, Effects and Employees’ Loyalty.
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