The role of rewards in promoting innovation has received considerable attention\nin both theory and practice. The fact that rewards have a positive impact\non promoting innovation is well established. However, this relationship is\ncomplex since different types of rewards are suited for various kinds and\nstages of innovation. Further, an alternate view undermines the role of rewards\nin promoting innovation. Through an exhaustive literature review, this\nstudy illustrates the complex relationship between rewards and innovation as\nwell as the role of rewards in promoting innovation. This analysis throws\nlight on the utility of various rewarding practices in promoting innovation.\nThus, understanding the complexities of rewards systems for engaging talents\nin processes of creativity and innovation reflects the needs to design rewards\nsystems, which strategically and ethically fits any organizational entity. Hence,\nboth theorists and practitioners need a more holistic approach in designing a\ndynamic rewards system that encompasses issues of role, timing and magnitude\nof the rewards in order to drive innovation.
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