The factors affecting on employees’ motivation and productivity are identified and classified in seven groups; the impact of each motivation factor on the productivity is presented by ANP fuzzy model. The aim of this study is to explore the productivity of employees at the universities. This paper attempts to give new insights about designing the portfolio factors motivating employees for productivity improvement by implementing BLP and ANP fuzzy models for eight major Iranian universities.  At the next stage, a BLP model is designed according to the importance and impact of each reward system option on motivation and productivity factors and organization limitations including budget, facilities and conditions to design portfolio factors motivating employees with the aim of improving productivity. The research results show that there is a positive and significant relationship among reward system, motivation factors and human resources productivity. Also, among the options of reward system, the factors of internal (inherent) reward, non-financial external reward and financial external reward had the most impact on increasing motivation and productivity factors.