How should you react towards your employer?

First. you should look at you results and self-satisfaction as the best reward you get.

To work hard and try to achieve best results, that is part of your duties. You should not always expect that your boss must reward you for that, but it is important to hear and feel his appreciation. If you don't get that and that bothers you, look somewhere else but never ever decide to work less, saying "I will give them what they deserve"

1) Look for a change in employment

Well I would not conclude and leave that decision on the concerned to take after much thought.

I agree with Mr. Ibrahim to a large extent. Performance and evaluation has to be realistic and MEASURABLE. Over achieving numbers is measurable but hard work is not measurable and becomes difficult for convincing others. I am sure there must be scope for extra earnings thru incentives for over achieving.

Now the question comes about career growth for continuous good performance. Seek clarity from your manager about the parameters for performance and evaluation and record the same for self and your manager after mutually agreeing.

Career growth demands several other skills / potential apart form achieving numbers. Such as number of ideas given which  got accepted by others. Contribution in learning and sharing for self and others development. Setting examples for team mates to follow and its outcome. Self initiatives taken to support team mates for their development and team contribution for team results.

Keep aside the emotions and think realistically as an entrepreneur as to what all one should have in the given situation for career growth which must be REALISTIC and MEASURABLE.

Cheers and go ahead positively with a smile which links communication to be heard and to hear.  

an employer is a fatherly or motherly figure and can never want bad for you so if treated with the same respect and reaching expectations, you receive rewards in return.