Green Compensation And Reward System: A Novel Approach Towards The Growth And Sustainability Of Organization
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Abstract
Purpose: The study sought to evaluate the influence of green reward and compensation practices in environmental sustainability. The purpose of this article is to emphasize the necessity of incorporating Green compensation and reward into green HRM practices in organizations, as well as the direct influence on organizational performance and environmental sustainability.
Design/methodology/approach: The research was quantitative and cross-sectional in nature. The study included ISO-14001 certified manufacturing organizations to better suit the research goal. Purposive sampling was employed to collect information from 235 managers. A well-organized questionnaire to assess the entire research process. The data analysis was carried out using SPSS.
Findings: The findings of the study indicate that green reward is essential for environmentally conscientious organizations to fulfil their goals of efficient resource usage while also serving the wider cause of environmental protection. There is an urgent need to create environmentally friendly capabilities in employees so that they can apply eco-efficient organizational practices.
Research limitations/implications: This study also has limitations in terms of the generalizability of its findings. It is primarily owing to the small sample size and restricted geographical region.
Practical implications: To meet the demands of their global clientele and remain competitive in international marketplaces, forward-thinking manufacturers must develop a consistent green management philosophy. It is also vital for government authorities to develop environmental policies that require the adoption of pro- environmental corporate practices as well as the measurement of their consequences.
Originality/value
This research will contribute to the body of knowledge by offering an empirical analysis of green reward and compensation for achieving organizational efficiency and environmental sustainability in the industrial sector. It will provide a new setting for future researchers in green reward and compensation and management practices, as well as related topics
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