World Applied Sciences Journal 19 (7): 1009-1017, 2012

ISSN 1818-4952
© IDOSI Publications, 2012
DOI: 10.5829/idosi.wasj.2012.19.07.1491

Reward System and Performance Within Malaysian Manufacturing Companies

1
Tze San Ong and 2Boon Heng Teh

1
Faculty of Economics and Management, University Putra Malaysia, Malaysia
2
Faculty of Management, Multimedia University Malaysia

Abstract: This study examines the relationship between the reward system and organization’s financial
performance. Data is collected through a questionnaire survey covering 105 manufacturing companies in
Malaysia. Data gathered is analyzed quantitatively such as linear regression analysis is adopted in order to
investigate the interrelationship between research variables. Results and findings of this study include: (1) most
of the manufacturing firms provide both monetary and non-monetary rewards; (2) adoption of reward system
is not influenced by age and size of the company; (3) negative relationship exists between extrinsic rewards and
financial performance of organizations and (4) intrinsic rewards are positively related to financial performance
of organizations. This study has provided important information into the implementation of reward system on
organization’s performance.

Key words: Reward system Intrinsic reward Extrinsic reward Financial performance Malaysia

INTRODUCTION often design and implement the reward system without

linking it with the ultimate improvement of organization’s
A well-organized reward system will motivate and performance [4].Therefore, the reward system is unable to
energize employees because it recognizes the contribute significantly to the performance of an
achievements of employees [1]. Reward system organization.
implemented by organization will influence employees’ Moreover, reward system is usually designed by top
behavior and attitude towards their job if the rewardsmanagement. They design the reward system based on satisfy
their needs and help them to reach their personal their own perception without consulting employees at the goals.
When employees desire to get the rewards, they lower level. Rewards and recognition designed may not be will
change their behavior in order to achieve the minimum able to satisfy employees’ needs and expectation. Thus, level
of performance required by organization [2]. employees are not willing to change their behavior
Overall improvement of organization because they feel that their contributions are not well
performance helps organizations maintain their recognized by the organization. As a result, the reward
substantial competitive advantages in the worldwidesystem is not able to influence employee’s behavior to a
marketing warfare. better way and it fails to encourage them toachieve a
For most organization, reward system is developed higher performance.
by Human Resource department while organization Due to many organizations fail to realize the
performance evaluation is done by Finance department. relationship between reward system and organization
There is an integration issue as both of thedepartments performance, this study intends to overcome this
do nothave coordination and tend to isolate with each problem.This study aims to provide insight and advices
other. Most of the companies are excellentin developing for organizations on this problem. By assuming reward
business strategy and organizing human resource system as the independent variable and organization
management but unable to achieve a well-implemented performance as the dependent variable, this study is
strategy because their performance measurement system designed to determine how reward system influences the
and reward system arenot consistent [3]. Organizations performance of an organization.

Corresponding Author: Tze San Ong, Department of Accounting and Finance, Faculty of Economics and Management,
University Putra Malaysia, Malaysia.
1
Objectives of the Study: Based on the research problem, position in that organization [15]. In the classic point of
objectives of the study have been developed. The view, the uses and effects of extrinsic motivation are
research objectives are: strictly different with intrinsic motivation [16].
According to [17], extrinsic motivation can be
To discover different types of reward system categorized as a set of monetary rewards whichis given
adopted by the Malaysian manufacturing industry. directly to employees through salary and incentives or
To determine the relationship between reward system provided indirectly through contributions to employees’
and performance of the Malaysian manufacturing benefit plans such as medical benefits and life insurance.
industry. Other examples of extrinsic rewards such as pay and
fringe benefits, promotion or advancement opportunities
Literature Review within the organization should be offered in the
The Nature of Reward System: Reward is defined as organizations’ rewards system [18].
anything that extrinsically or intrinsically reinforced, [19] havedeveloped a framework to distinguishfour
maintain and improve the employees’ behavior in an types of extrinsic motivation, which are referred as
organization [5]. Reward is the compensation which an external regulation, introjections, identification and
employee receives from an organization for exchanging of integration. These represent different level of
the service offered by the employee or as the return for internalization and self-determination. According to the
the work done [6]. The term of reward is broader than framework, external regulation is the classical extrinsic
compensation and it encompasses everything given by motivation where the individual’s behavior is being
the organization and will satisfy the employees’ needs altered and controlled when the individual assimilates the
[7, 8] claim that reward and incentive systems exist from external regulations. On the other hand, introjection
the inception of an organization. means a relatively externally controlled form of extrinsic
[9] give examples such as a fixed base salary, motivation, which affects and influences regulation within
variable allowance and employee stock ownership an individual.
plans which can be used to reward achievements of The third type of extrinsic motivation introduced by
employees. [6] further states that rewards are not[19] is identification. This refers to an individual’s simply
expressed in the monetary form, but it also perspective with the value of a behavior based on the includes
those difficult to measure in monetary individual’s personal goals and identity. Individual
feels currencies. Several examples given are comfortable the cause of the behavior comes from him or herself.
working conditions, involvement in decision-makingIt is classified as extrinsic motivation because the process
and future growth opportunities. At a minimum behavior is still instrumental instead of spontaneous level,
employees usually expect their organization to enjoyment [19, 20]. The last type of extrinsic motivation is
provide them fair pay, secure working environment and the integration which is classified as the highest degree of
fair treatment [10]. internalization of extrinsic motivation. This motivation
Reward system is crucial for attracting and retaining means an individual fully identifies the value of a behavior
employees with competence, knowledge and skills in and integrates the identification with other aspects.
order to achieve organization's strategic goals and create There is an enhanced attention to various forms of
a supportive culture [11]. The results of research done by extrinsic motivation because most of the activities
[12] shows that a strong relationship exists between the involved by people are not inherently attracting and
rewards provided to employees and financial performance interesting [19-21]. Due to most organizational activities
of organization. Reward system is the key to lead and are not intrinsically motivating [20], greater focus on
reinforce employees’ behaviors to support organization’s extrinsic motivation and in particular the emphasis on
strategy and this hasa substantial effect on organization’s different types of extrinsic motivation is essential for a
performance [13], [14]. better understanding of motivation and employees
behavior in organizations.
Extrinsic Rewards Approach: Extrinsic rewards are Monetary rewards will extrinsically motivate
usually referred to the monetary rewards that are provided employees when it can satisfy their needs [17]. Financial
by an organization through the person who has a high rewards offered from the management are very important

1010
and have significant influences on employees’ working satisfaction and organizational involvement [38].
behavior [3, 22] states that providing monetary rewards Implementation of reward system which emphasizes on
has greater effects than solely using goal setting and job intrinsic motivation leads to a higher job satisfaction and
enrichment in motivating employees to improve their efficiency levels of employees [39].
performance. [40] claimes that intrinsic motivation is relatively
Extrinsic rewards are proved to have strong effective to trigger non-routine behaviors than extrinsic
association with continuance commitment of employeesrewards. The Human Resource Management (HRM) to
the organization [23, 24]. The external rewards motivate which includes the rewards management should employees to
perform value-added tasks toorganization emphasize on employees’ self-motivation in order to they
served [25, 26]. Thus, extrinsic rewards will motivate improve their innovative behaviors [19]. Previous individuals
to spend more time and efforts on a task [27] researches provide further support that intrinsic
and ultimately improve their task performance [28]. motivation improves creativity and innovative
performance of employees [41].
Intrinsic Rewards Approach: Some organizations believe Intrinsic rewards are perceived as useful methods
that non-monetary rewards or intrinsic rewards are easier which leadto valuable outcomes in terms of the quality,
to implement than monetary rewards and useful for spontaneity and vitality [16, 42]. Intrinsic rewards
company success [29]. Intrinsic rewards may be just as provided create a sustainable motivation and win-win
important as extrinsic rewards in motivating employees to situation to both employees and organization they served
have a better performance [30]. [43]. Therefore, study done by [36] concludes that
[31] define the intrinsic motivation as the effort intrinsic motivation derived from non-cash rewards will
expended in employees’ work to satisfy their growth effectively drive-up the performance level among
needs such as achievement, capabilities and self employees.
improvement. [32] further states that people will be
intrinsically motivated when they experience interest,Relationship Between Reward System and
happiness and enjoyment in performing an activity. Organizational Performance: Reward system illustrates
Intrinsic motivation exists in the activity itself withoutthe exchange relationship between the organization and giving
any apparent reward. employees. It defines the contributions from employees
Additionally, [33] argues that employees will be and the responses an individual can expect to receive
intrinsically motivated in the workplace if it maximizes their from the company as a return for their performance [44].
feelings of competence and self-determination. The purpose of reward systems is to motivate and reward
[34]expresses similarly that higher level of feelings ofthe desirable behavior [45,46]. Rewarding the excellent
competence and personal control over the job and outstanding performance is to appreciate
performance will provide greater intrinsic motivation tocontributions of employees and acknowledge their efforts
employees. publicly [47].
[6] mentions that people are no longer working The empirical research conducted by [12] finds that
simply for pay. They pay attention on personal growthorganizations that introduce the total rewards strategy such as
improvement of capabilities, acquirement of new have better performance than companies that do not knowledge
and valuable skills. Non-financial rewards apply the strategy. Moreover, [48] propose that there is a
such as support and recognition given by leaders arepositive relationship between reward system, strategy and
important to motivate the organization members [35]. organization performance. This proposition is supported
Moreover, [36] states that several intrinsic rewards by [2] because reward system is needed to motivate such as
great autonomy, recognition, flexibility in the performance and encourage employees and organization
work schedule can be used extensively by organizations to improve their skills and capabilities.
in order to motivate employees. Accordingly to [37], Reward systems can be developed to motivate and
recognition of employees’ performance can be in the formimprove both short-term and long-term performance of of
praise, awards or through ceremonies. organization [3]. The uses of total rewards bolster the
Recognition of employees’ efforts and performance extrinsic and intrinsic motivation of employees to behave
has positive impacts on the employees’ commitment, job innovatively and creatively [48]. Measurement and reward
systems communicate the performance achieved with organization. This will increase organization profitability
employees and motivate them to take appropriate action due to the positive impact on the sales amount and market
to help organization reach its strategic goals [3]. share compare to competitor [58].
Similarly, [49] add that reward like expressions of Study of [4] mention that many organizations do not
appreciation from top management will intrinsically realize the causal relationship between their lackluster
motivate employees and influence their behavior. This is performance and a misaligned reward strategy. In order to
important to help the organization move towards reaching attract and retain the top performers at the affordable and
its strategic objectives. [50] describes that motivation is sustainable costs, management needs to ensure their total
a strong incentive for employees to achieve excellent rewards strategy is properly aligned with the organization
performance achievement in their daily work so that they strategy [59, 60]. Therefore, [61, 62] conclude that the
will get the predicated commend. [51] states that, in order implementation of reward system enables both of the
to enhance morale and motivation of employees, rewards employees and organization achieve a higher level of
and recognition should be provided instantly when performance.
employees achieve the required performance. Previous researches provide strong evidences and
[52] declares that no inherent relationship exists empirically suggest that reward system will influence the
between employees’ satisfaction and performance employees’ behavior and encourage them achieve better
because their performance is usually influenced by performance. Individual performance improvement will
particular reward contingencies that are in force [53]. subsequently boost the organization performance. Hence,
states that the employee satisfaction is the magnitude reward system must be linked to performance
of an employee’s affective orientation toward their job in measurement system in order to motivate and maximize
the organization when their needs are fulfilled. employees’ performance.
[54] further add that the imbalance between
employees’ contributions and the returns of their Multiple Regression Model: This study utilized the
performance cause employees tend to be unsatisfied with multiple regression technique to determine the
the workplace and not motivated. If the reward system is relationship among extrinsic rewards, intrinsic rewards
attractive and employees perceive they may get the and firm performance as follows.
rewards, they will change their behaviors and tend to exert
more effort into their work in order to achieve the required Yit  0  1X1it  2 X 2it 3 X 3it 4 X 4it  eit
performance [6]. Motivated employees are more willing to  
contribute vigor and dynamism to the organization. This Where Yit= total annual sales or shareholders’ fund or
improves the quality and quantity of work performed and total assets
subsequently brings significant improvement to the 0 = Constant
productivity and competitive advantages of the 1 = Coefficient of the explanatory variable
organization [51, 55]. X1it = Extrinsic rewards (ER)
[51] suggests that organization should recognize X2it = Intrinsic rewards (IR)
employees’ satisfaction as a vital goal to achieve because X3it = Firm Size (BSize)
it affects the organization’s profitability, productivity, X4it = Firm Age (FAge)
employee retention and customer satisfaction. It is eit = Error term
believed that satisfied and motivated employees will
generate better customer satisfaction and subsequently RESULTS AND DISCUSSION
bring positive impact to the organizational performance
[56, 51]. The target population of this study is firms operating
Several researchers express that improved customer in Malaysia’s manufacturing sector. Profiles of the survey
satisfaction implies reduced marketing expenses, lesscompanies are indicated in Table 1-4. Most of the price
elasticity and enhanced customer loyalty, which in companies are small in size, followed by big firms and
turn improve the financial performance of organizationsmedium in size. The sample was divided reasonably [57].
In addition, enhanced customer satisfaction evenly between three main ownership types (local-owned,
encourages customers to buy more products from the joint venture and foreign-owned).
Table 1: Types of Business Activity
Business Activity Frequency Percent (%)
Manufacturing Products 34 32
Electronic and Electrical Products 22 21
Medical Products 16 15
Infrastructure Products 12 11
Chemical and Petroleum Products 8 8
Agriculture Products 10 10
Other Products 3 3
Total 105 100

Table 2: Age of the company Fig. 1: Attitude of respondents towards effectiveness of

Age of Company Frequency Percent (%)
rewards system

Newly established (<10 years) 25 24

Moderately established (11 to 20 years) 32 30
Established (>20 years) 48 46
Total 105 100

Table 3: Size of the company

Size of Company Frequency Percent (%)
Small firm (< or equal to 50 full time employees) 42 40
Medium firm ( 51 to 150 full time employees) 25 24
Big firm (> or equal to 151 full time employees) 38 36 Fig. 2: Frequency of rewards used as motivational tool
Total 105 100

Table 4: Ownership of the company

Ownership Frequency
Local owned company 84
Foreign owned company 4 4
Joint venture 17
Total 105
Attitude Towards Effectiveness of Rewards System:
As shown in Fig. 1, 98% of respondents agreed that their
companies’ performance is influenced by the reward
system. On the other hand, only 2% of respondents did
not agree that performance-related reward system will
improve performance of their companies. The result
indicates that most of the Malaysian companies are
influencing employees’ behaviors by linking reward
system and company’s objectives. Reward system is the
main tool to drive employees’ performance.
Frequency of Rewards Used: As illustrated in Fig. 2,
10% of the respondents seldom used the rewards system.
However, almost half of the respondents (48%) have
answered that rewards will provide sometimes to
employees as motivational tools.While 38% of
respondents have frequently used the rewards
system, only 4% of the respondents used rewards
system very frequently to motivate their employees.
Percent (%)
80
16
100
Fig. 3: Type of rewards system used
This result demonstrates that most of the respondents
have utilized rewards as a motivational toolfor their
employees.In Malaysia manufacturing context,
employees’ motivation is highly influenced by the
organisation’s reward system.
Type of Reward System Used: Different type of reward
system have been used by respondents in oder to attract,
motivate and retain employees. As shown in Fig. 3, 32%
of the respondents have provided monetary rewards to
their employees. However, only 4% of the respondents
offered non-monetary rewards to their emloyees. The
largest portion of respondents, which accounted 64% of
the respondents have adopted both monetary and non-
monetary reward system in their companies. Linking
performance and reward is the best and direct way to
motivate and retain employees in Malaysian
manufacturing companies.
Table 5: OSL Regression
Annual Sales Shareholder’s Fund Total Assets

Variables Coefficient t-value Sig. Coefficient t-value Sig. Coefficient t-value Sig.
ER -0.322 -0.786 0.050 -0.721 -2.781 0.017 -0.506 -2.345 0.026
IR 0.335 1.358 0.879 0.717 2.466 0.030 0.158 1.692 0.996
BSIZE -0.105 -0.735 0.466 -0.058 -1.786 0.678 -0.067 -0.0458 0.604
FAGE 0.036 0.250 0.804 0.063 0.784 0.729 0.052 0.989 0.963
R2= 0.110 R2= 0.135 R2=0.126
Adjusted R2= 0.035 Adjusted R2= 0.115 Adjusted R2= 0.162
F value=1.038 F value= 3.575 F value= 4.848
F significance=0.004 F significance=0.001 F significance=0.000

Multiple Regression Analysis: Table 5 presented the On the other hand, the results between intrinsic
result of regression analysis by performing the rewards such as recognition, self-esteem and enjoyment
Ordinary Least Square (OLS) regression in this study. and company’s financial performance are rather mixed.
The R-squares for total annual sales, shareholder’s Intrinsic reward is significantly correlated to only one of
fund and total assets are 11%, 13.5 and 12.6% the three financial performance measureswhich is
respectively. Out of these three models, neither shareholder’s fund. The result is also supported by the
firm size nor firm age is having significant previous researches [33, 40] where intrinsic rewards is a
relationship with all three financial measures (total sustainable source of motivation for employees to
annual sales,shareholder’s fund and total assets) improve financial performance of company.
respectively.
Extrinsic reward such as work for tangible rewards i.e. CONCLUSION
salary, bonus and incentive) is statistically negatively
correlated with all three financial performance measures. Implementation of extrinsic rewards is proved to have
Adverse relationship exists between employees’ an adverse relationship with financial performances of
perception on extrinsic rewards and company’s financial organization. The research finding is contradicted with
performance. This is mainly due to the fact that employees previous researches. This may be due to these researches
are not motivated by extrinsic rewards.In general, were conducted in different countries. Different context
Malaysian companies are less likely to be motivated by and cultural of countries mightcause employees react
extrinsic rewards in the long run. Study by [63] stated differently on extrinsic rewards.
that, when employees feel that they have to work in order On the other hand, results showed a positive
to get tangible rewards, such extrinsic reward is just a relationship between implementation of intrinsic rewards
temporary incentive from company. It would not provide and financial performance of organization. It is consistent
sustainable motivation and happiness to employees. and supported by the previous researches such as study
Maslow’s need hierarchy theory explained that people will done by [33, 40]. An intrinsic reward is believed to be able
be motivated only when their needs are satisfied. If to satisfy and motivate employees to perform better. Value
employees are just temporary motivated by extrinsic creation and continuous improvement of employees
rewards, it will not significantly influence their attitudes enhance the overall business performance. Thus,
and behavior. As supported by the study of [56], performance of company improves through intrinsic
employees’ satisfaction is correlated with customer rewards offered to employees.
satisfaction. Unsatisfied employees are not willing to It is hoped that results and findings of this research
improve their behavior and provide better services when enhance the understanding of management teams on
serving customers. This cause dissatisfaction of customer associations between reward system and organization
on services provided. As a result, average sales value per performance. Besides providing monetary rewards,
employee decreases. As a conclusion, when extrinsic companies should give more emphasis on intrinsic
rewards have been provided and it fails to motivate rewards in order to motivate and improve employees’ job
employees, poor individual performance will reduce performance. A careful design of reward system which
revenue and profits of company. It ultimately affects the links with the performance measurement is essential for
total assets acquired by the company. the long-term success of organization.
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 REVIEW JOURNAL

Sistem Penghargaan dan Kinerja Dalam Perusahaan Manufaktur

Judul
Malaysia
ISSN 1818-4952
Tahun 2012
Penulis Tze San Ong dan Boon Heng The
Reviewer  Muhammad Arif (A012202072)
Tanggal  1 Desember 2021

Penghargaan dan pengakuan yang dirancang mungkin tidak dapat

memenuhi kebutuhan dan harapan karyawan. Dengan demikian,
karyawan tidak mau mengubah perilakunya karena merasa
Fenomena kontribusinya tidak diakui dengan baik oleh organisasi. Akibatnya,
sistem penghargaan tidak mampu mempengaruhi perilaku karyawan
ke arah yang lebih baik dan gagal mendorong mereka untuk
mencapai kinerja yang lebih tinggi. 
Reward adalah kompensasi yang diterima seorang karyawan dari
suatu organisasi untuk pertukaran layanan yang ditawarkan oleh
karyawan atau sebagai imbalan atas pekerjaan yang dilakukan [Zhou,
J., X. Qian, Q. Henan and X. Lei, 2009].
Sistem penghargaan adalah kunci untuk memimpin dan memperkuat
Kajian Teori perilaku karyawan untuk mendukung strategi organisasi dan ini
memiliki efek substansial pada kinerja organisasi [Balkin, D.B. and
L.R. Gomez-Mejia, 1990]
Lease, S., 1973 mengatakan bahwa kepuasan karyawan adalah
besarnya orientasi afektif seorang karyawan terhadap pekerjaannya
dalam organisasi ketika kebutuhannya terpenuhi. 

Hasil penelitian yang dilakukan oleh Azasu, S., 2009 menunjukkan

bahwa ada hubungan yang kuat antara penghargaan yang diberikan
kepada karyawan dan kinerja keuangan organisasi.

Penelitian sebelumnya memberikan dukungan lebih lanjut bahwa

Kajian Empiris
motivasi intrinsik meningkatkan kreativitas dan kinerja inovatif
 
karyawan [Amabile, T.M., 1997].

Studi yang dilakukan oleh [Pollack, I., 2004] menyimpulkan bahwa

motivasi intrinsik yang berasal dari penghargaan non-tunai akan
secara efektif meningkatkan tingkat kinerja di antara karyawan. 

Penghargaan ekstrinsik terbukti memiliki hubungan yang kuat

dengan komitmen berkelanjutan karyawan terhadap organisasi
[O’Reilly, C. and J. Chatman, 1986].
Gap Research
[Orpen, C., 1982] menyatakan bahwa tidak ada hubungan yang
melekat antara kepuasan dan kinerja karyawan karena kinerja
 mereka biasanya dipengaruhi oleh kontinjensi penghargaan tertentu
yang berlaku
Karena banyak organisasi gagal menyadari hubungan antara sistem
Masalah Penelitian
penghargaan dan kinerja organisasi.

Penelitian ini bertujuan untuk memberikan wawasan dan saran bagi

organisasi tentang masalah tersebut. Berdasarkan masalah penelitian,
tujuan penelitian telah dikembangkan. Tujuan penelitian adalah
Tujuan Penelitian
untuk menemukan berbagai jenis sistem penghargaan yang diadopsi
oleh industri manufaktur Malaysia dan untuk mengetahui hubungan
antara sistem penghargaan dan kinerja industri manufaktur Malaysia.

Didalam jurnal ini tidak terdapat grand teori atau teori inti dari
Grand Teori
penelitian ini.
Manajemen Sumber Daya Manusia (SDM) yang mencakup
manajemen penghargaan harus menekankan pada motivasi diri
Middle Teori
karyawan untuk meningkatkan perilaku inovatif mereka [Deci, E.L.
and R.M. Ryan, 200].
Menurut Cruz, N.M., V.M. Perez and. T. Cantero, 2009 motivasi
ekstrinsik dapat dikategorikan sebagai seperangkat penghargaan
moneter yang diberikan langsung kepada karyawan melalui gaji dan
insentif atau diberikan secara tidak langsung melalui kontribusi
Subtantif Teori untuk rencana manfaat karyawan seperti tunjangan kesehatan dan
asuransi jiwa. Sedangkan [31] mendefinisikan motivasi intrinsik
sebagai upaya yang dikeluarkan dalam pekerjaan karyawan untuk
memenuhi kebutuhan pertumbuhan mereka seperti prestasi,
kemampuan dan perbaikan diri.
Hipotesis dalam penelitian ini yaitu sistem penghargaan akan
mempengaruhi perilaku karyawan dan mendorong mereka mencapai
kinerja yang lebih baik. Sedangkan hasil dari penelitian
Hipotesis
membuktikan bahwa sistem penghargaan memang benar
memberikan pengaruh terhadap perilaku karyawan secara instrinsik,
namun tidak secara ekstrinsik.
Di dalam jurnal tidak dijelaskan secara jelas terkait populasi dan
sampel, penulis hanya menyampaikan bahwa penelitian ini dilakukan
Lokasi Penelitian di 105 perusahaan manufaktur yang ada di Malaysia, yang terdiri
dari perusahaan dengan skala kecil, menengah, sampai pada skala
besar.
Penelitian ini menggunakan teknik regresi berganda untuk
menetukan hubungan antara pernghargaan ekstrinsik, penghargaan
Cara & Alat Mengukur
intrinsik dan kinerja perusahaan. Data dikumpulkan dengan cara
Variabel
membagikan kuesioner, lalu data yang terkumpul akan dianalisis
secara kuantitatif.
 Hasil analisis regresi dengan melakukan regresi Ordinary Least
Square (OLS) dalam penelitian ini, yaitu Imbalan ekstrinsik seperti
bekerja untuk imbalan nyata yaitu gaji, bonus dan insentif) secara
statistik berkorelasi negatif dengan ketiga ukuran kinerja keuangan.
Ada hubungan yang merugikan antara persepsi karyawan tentang
penghargaan ekstrinsik dan kinerja keuangan perusahaan. Hal ini
terutama disebabkan oleh fakta bahwa karyawan tidak termotivasi
Hasil
oleh imbalan ekstrinsik. Secara umum, perusahaan Malaysia
cenderung tidak termotivasi oleh imbalan ekstrinsik dalam jangka
panjang. Di sisi lain, hasil antara intrinsik penghargaan seperti
pengakuan, harga diri dan kenikmatan dan kinerja keuangan
perusahaan agak beragam. Penghargaan intrinsik berkorelasi
signifikan hanya dengan satu dari tiga ukuran kinerja keuangan,
yaitu dana pemegang saham.
1. Didalam jurnal penelitian ini, tidak mencamtumkan grand teori,
penulis terlalu fokus kepada kajian empiris, seharusnya penulis
mencamtumkan grand teori sebagai teori dasar atau induk
penelitian ini.
2. Penulis tidak mencamtumkan populasi dan sampel secara jelas,
Penulis hanya menyampaikan bahwa lokasi penelitiannya
Saran dilakukan di 105 perusahaan manufaktur yang ada di Malaysia.
Sebaiknya populasi dan sampel dituliskan karena penelitian ini
kuantitatif.
3. hipotesis didalam jurnal ini didapatkan pada bagian kajian teori
yang tertera, sebaiknya penulis membuatkan bagian tersendiri
untuk hipotesis agar pembaca mudah menemukannya.