Evaluate The Effectiveness Of Rewards Based Programs

Reward Based Programs Reward based programs within an organization has become a priority not only for both managers and human resource specialists. In fact, organizations that create and offer reward based programs often find employee moral higher which results in higher productivity and engagement. The purpose of a reward program is to identify the staff members who have excelled in specific areas of the company and encourage all employees to also excel in their specific responsibilities. Furthermore, by offering a reward based program, organizations will additionally retain employees for longer periods of time which increases productivity and lowers overhead costs associated with training and hiring new candidates. To create a rewards based program, HR departments should first create an effective system to measure and evaluate employee performance. Next, HR should determine what types of rewards will be offered and how to distribute the rewards. Finally, review the program to determine any risks or additional benefits of the program.
Measuring and Evaluating Employee Performance In order to create an effective rewards program within an organization, one must find the right mix of incentives to

The recognition committee will identify what type of award themes the program will recognize that complements the employees and the departments in which they work. For example, award themed recognition could be for employee excellence, outstanding performance, employee of the year or excellence in customer service (ATM, 2018). Furthermore, the committee will need to identify award eligibility, funding, frequency and selection processes when creating the criteria for the program. Possible components for eligibility could