More handpicked essays just for you.
Good practices in reward management
The impact of the reward system
The need for an effective reward management system in modern organizations
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Article Summary In a business or a workplace, it is essential for the organization, which consists of the employers, the managers, and their employees, to work towards reward programs within the human resources in order to create a healthy and cordial work environment and most importantly, to efficiently achieve business’ goals. In Carol Patton’s (2013) article, Rewarding Best Behaviors, she explains the importance of several companies that are beginning to recognize their employees, not just for the end-results, but for reflecting good behaviors towards the business’ values, such as demonstrating creativity on certain projects, problem solving towards certain issues, and also collaborating with fellow co-workers. Patton stresses that these reward programs could help suffice the overall being of a company as long as the rewarded behaviors correlate with the corporate strategy. Patton expresses that some things human resources must comprehend include “how its company creates success, what drives its business strategy and what behaviors are needed from employees to achieve that success” (Patton, 2013 para. 15). Moreover, the employee would be reflected as a role model for others and perhaps influence them to demonstrate comparable behaviors. Article Analysis Being employed as a purchasing clerk and a sales support at the Furniture Outlet has given me the opportunity to fully understand how the presence of certain reward compromise or programs helps to form a viable workplace for both an employer and an employee and also the organization as a whole. Given the tasks and expectations that are to be achieved as a purchasing clerk, I often find myself thinking about how the work is to be done and in what ways can it be done suffic... ... middle of paper ... ... bit of statistical information about the increase of recognition programs because it gave me a better understanding of reward programs in the actual workplace. • Site & Access: The site Hreonline.com is very easy to use, reliable, and credible so it receives a 10 out of 10. • Purpose & Other: : I give the purpose and other a 10 out of 10 because the goal of the article was to inform organizations, employers, presidents and/or employees about the importance of strengthening relationships between an employer, an employee, and the company in its entirety. Overall, the score of the article is a 95 out of a 100 because the author, Carol Patton was able to lure me into reading her entire piece. Additionally, after reading the article, I felt that I gained a bit of knowledge on the importance of reward programs and how it should be a “must have” in the work environment.
Employers have been coming up with innovative employee rewards to boost morale and acknowledge employee needs for creativity and personal goal accomplishment. Some of the latest potential employee rewards include using the internet at work for personal reasons such as shopping, communicating with friends, or personal finances; bringing a pet to work; instituting a controlled napping policy, and the sports and office betting pools..
Many of Harrah’s employees deemed the goals set by Winn’s current incentive program to be unrealistic; on the other hand, others felt a sense of entitlement for bonuses. Therefore, Winn’s job is to provide a recommendation to Gary Loveman, on how to motivate and get employees energized. In order to motivate the employees, Winn had implemented an incentive pay plan to rewards Harrah’s employees in all of its properties for improving customer service. The company’s purpose for incentive program was to implant a competitive mindset in its employees as well as to show the employees that they are core of the...
In “The Puzzle of Motivation,” the main premise on the onset of the video is that “traditional rewards aren’t always as effective as we think,” (Pink, 2009). Rewards are a normal part of most organizational cultures, but do they work? My position is one that supports the questioning of the effectiveness of tradition rewards. By using motivational theories and concepts, I will show why this idea holds merit in today’s day and
Our policy is to reward the greatest contributors and recognise employees who evolve their skills to enhance their individual contribution to our success
Reward systems in the work place are not a new idea in the workplace, but they are the key to having happy employees and happy employees mean better output. Reward systems are systems used by companies where employees who achieve particular results are paid more or get other advantages. Some employers offer pay as incentives, while others offer benefits, some use a combination of both types. Employees within a company want recognition for the time and effort that they have put into a task required of their job. The use of reward systems not only enhances the company but it gives the employee a feeling of personal connection and investment into the company. Building a reward system can be a great asset to the company, by allowing the employees to feel that they are a part of the company. Reward systems are an important tool and key concept to managing an organization effectively.
The culture of appreciating employees for their hard work and achievements by incentives shows how the organization values their employees. Lincoln believed “Status is of great importance in all human relationships. The greatest incentive that money has, usually, is that is it a symbol of success... The resulting status is the real incentive... Money alone can be an incentive to the miser only. There must be complete honesty and understanding between the hourly worker and management if high efficiency is to be obtained”. This shows how harmoniously the labor and management have to work together to produce
The relationship between employer and employees plays a pivotal role in the performance of the organization. Employers and employees have certain responsibilities towards each other which facilitate a fair and productive workplace. Positive work relationships create a cooperative climate with effort towards the same goals. Conflict, on the other hand, is likely to divert attention away from organizational performance.
Many people are asking these type of questions and this paper will help answer some of the questions surrounding these problems some people are having. Second, it should be mentioned that in the business world there are many jobs that require employees to sell things for a company. When sales are made the company makes money and the employee makes a percentage of the sales. The employees typically have a set goal to meet monthly or weekly to get a bonus and this is how they get paid.
Many people may think only how the information technology industry has evolved, with little or no thought about the transformation of other professional areas in today’s society. This trend includes organization providing “Total Rewards” compensation for employees. Furthermore, this conversion, now is an extremely intricate factor for recruiting, motivating, and increasing employee retention. Employers now realize the importance of providing total rewards along with wages and salaries is a path to recruit and retain valuable employees.
The paper will aim to discuss how motivation and reward can be effective with a work task. These will be determined by someone’s position and where they stand with the task that needs to be accomplished. Rewards can increase someone’s motivation to complete a task and that can be beneficial for them. Examining rewards given for effectively completing a task can increase a person’s motivation to work their absolute hardest on a task in the workplace. Through various studies and research, this idea has been proven to be true with a person’s mindset on carrying out a feared communication work task.
Job satisfaction includes challenging work, interesting job assignments, equitable rewards, competent supervision, and rewarding careers. The quality of work life and psychological rewards from employment are very important. It is doubtful, however, whether many of us would continue working were it not for the money we earn. This paper establishes the definition of compensation, overview of compensation philosophy, critical components of a compensation strategy, and an example of an effective compensation practice. (www.indiana.edu/~busx420/Book.../chap09.doc)
Johnson, Sam T. "Plan your organization’s reward strategy through pay for performance dynamics: Compensation & Benefits Review 30, Number 3: (May/June 1998): 67-72
Rewards might be on a personal basis, such as a feeling of accomplishment, or self-worth, and offered by company in financial form or recognition. The rewards strongly influence sales representative satisfaction with the job and the work environment, which is also influenced by the individual's role perceptions. Organisational climate has great deal of influence on sales representatives. Sales representatives tend to have a higher level of job satisfaction when (1) they perceive that their first-line supervisor closely directs and monitors their activities, (2) management provides them with the assistance and support needed to meet unusual and non routine problems, and (3) they perceive themselves to have an active part in determining company policies and standards that affect
...s in the corporate world by setting new standards to promote and better satisfy their employees. We chose four leading companies in four different industries. The above analysis definitely reveals that perhaps one of the reasons why these companies are the leaders in their industry is because they are well aware of the importance of the work force. They mention in their mission statements as well that yes in deed customers are important but in order to make the customer happy they first need to motivate and satisfy the employee as well. According to Citibank, the general belief is that a happy worker is a motivated and loyal one. So keeping employees' spirits high is a sure-fire way of maintaining a productive workforce. A productive work force would ultimately lead to a healthy organization which would not only promote the society its working for but also itself.
Many years ago, it wasn’t hard at all to keep employees loyal and happy in their work. That was because the man of the house was mainly the sole provider for a wife and two to three kids. All they basically wanted was security and to be a happy family. It’s not so easy in today’s modern world where an employee has so many more options. I will discuss how we manage to keep employees loyal and satisfied in their jobs at our company.