IJMSS Vol.03 Issue-07, (July, 2015) ISSN: 2321-1784 International Journal in Management and Social Science (Impact Factor- 4.358) A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories International Journal in Management and Social Science http://www.ijmr.net.in email id- irjmss@gmail.com Page 294 REWARDMANAGEMENT: EMPLOYEE ENGAGEMENT AND EMPLOYEE RETENTION ARE ACHIEVED THROUGH MOTIVATION AND REWARD FACTORS Mr. Mohammed Rafeeq, Associate Professor, Sri Gokula College of PG Studies,Department of Commerce &Management , Kolar - 5635101 Mr. Harish .P, Master of Commerce Student Sri Gokula College of PG Studies,Department of Commerce , Kolar - 5635101 Mr. Mohammed Irfan Shariff, Assistant Professor, Sri Bhagawan Mahaveer Jain College,Department of Commerce , K.G.F. – 563122, Karnataka -India ABSTRACT: Motivating and Rewarding Employees through Effective leadership has been a never ending process of self-study, education, training, and experience. According to a study ,Trust and Confidence in top leadership was the single most reliable predictor of employee satisfaction in an organization. Effective communication by leadership was the key to win organizational trust and confidence. In the series of polls on employee engagement majority of employees are not fully engaged in their work. Engagement is the "positive emotional connection an employee has to their work and their workplace" - in short, caring about work leads to commitment and wanting to give more than is required or expected. Employee engagement is a positive emotional connection to the work they do and a "thinking connection" to the belief in the goals, purpose and mission of that work. “When the world was going through recession and industries were preparing for a deep slow down. The quality of Employee relations is fundamental to economic prosperity. According to the various HR experts and professionals, the prime reasons of present high attrition rate in all sector is due to the rising and unsatisfied aspirations of the employees. This article highlights the issue on the employee engagement and retention in and around how corporate influenced by Motivation and Reward Factors by effective Leadership .Leaders of organizations are expected to provide a sense of meaning and purpose for their employees. In today’s highly competitive environment, organizations have to make efforts to enhance the organizational commitment of employees. Key employee retention is critical to the long term health and success of your business. Which ensures customer satisfaction, product sales, satisfied coworkers and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning. “Motivation is the willingness to exert high level of efforts towards organizational goals, conditioned by the effort’s ability to satisfy individuals”. Probably no concept of human resource management received as much attention of academicians, researchers and practicing managers as motivation. Every organization requires human resources, in addition to financial and physical resources for it to function. Recognition & Rewards (R & R) programs which are the most cost effective medium to ensure that talented employees stick to the organization. An effective motivation and reward system will definitely encourage the best performers to be committed to the organization. The same motivation and reward system will cause the poor performers to leave the organization. Both intrinsic and extrinsic rewards can