Team Performance Reward
Team Performance Reward
Hoang Thi Bich Chi
Nguyen Huy Hoang
Nguyen Thi Hoa Hong
Nguyen Thai Hung
Pham Trong Kha
Huynh Thi Anh Thoa
Human Resource Management
January 26th, 2013
Dr. Lam Nguyen
Team Performance Reward
In the competitive market nowadays, what is the most critical element to business success? Is it the cutting-edge technology? Perhaps having a nice office or having many new ideas? Wrong, wrong, and wrong. A prior study indicated, “many organizations find teams to be important to their success” (Lucy, 2001, p. 73). Indeed, we could have the most modern equipment, the perfect workplace, and the extremely creative thoughts, but if we do not have a good team, we may fail. Hence, how to encourage the employees so that they may perform better and even over expectations? As a matter of fact, a company is just successful when it has a good performance. To be more precise, a business will not perform well when the teams do not work together in an effective manner. As a consequence, some organizations have motivated their employees by implementing the team-based reward. Thus, a question is posed here that “should companies implement the team performance reward to motivate employees”?
What is “team performance reward”? Team performance reward is understood as the reward system based on team performance to encourage employees to “coordinate their actions, share information, and help one another” (Rankin, 2004). Actually, there are two kinds of rewards used commonly today: monetary and non-monetary rewards. Depending on the job profile, however, both of them can motivate employees to contribute and devote more to the organization. An important thing should be mentioned that these rewards would be allocated equally to individual team members because their outcomes are positively linked. It means that all work together, all gain together.
It is difficult to deal with this matter that it “should” or “should not”. As such, this study will be to discover
Hoang Thi Bich Chi
Nguyen Huy Hoang
Nguyen Thi Hoa Hong
Nguyen Thai Hung
Pham Trong Kha
Huynh Thi Anh Thoa
Human Resource Management
January 26th, 2013
Dr. Lam Nguyen
Team Performance Reward
In the competitive market nowadays, what is the most critical element to business success? Is it the cutting-edge technology? Perhaps having a nice office or having many new ideas? Wrong, wrong, and wrong. A prior study indicated, “many organizations find teams to be important to their success” (Lucy, 2001, p. 73). Indeed, we could have the most modern equipment, the perfect workplace, and the extremely creative thoughts, but if we do not have a good team, we may fail. Hence, how to encourage the employees so that they may perform better and even over expectations? As a matter of fact, a company is just successful when it has a good performance. To be more precise, a business will not perform well when the teams do not work together in an effective manner. As a consequence, some organizations have motivated their employees by implementing the team-based reward. Thus, a question is posed here that “should companies implement the team performance reward to motivate employees”?
What is “team performance reward”? Team performance reward is understood as the reward system based on team performance to encourage employees to “coordinate their actions, share information, and help one another” (Rankin, 2004). Actually, there are two kinds of rewards used commonly today: monetary and non-monetary rewards. Depending on the job profile, however, both of them can motivate employees to contribute and devote more to the organization. An important thing should be mentioned that these rewards would be allocated equally to individual team members because their outcomes are positively linked. It means that all work together, all gain together.
It is difficult to deal with this matter that it “should” or “should not”. As such, this study will be to discover
References: Anna, A., Isabel, A, & Hanna, S. (2007), Individual versus Team Based Reward Systems – A Study on How Organizations Argue For Their Choice. Retrieved from http://hdl.handle.net/2077/4706 Becher, J Catmull, E. (2005). Pixar - A Human Story of Computer Animation. Retrieved from http://pixarplanet.com/blog/pixar-a-human-story-of-computer-animation Cowan, M Milne, P. (2001). Rewards, recognition and knowledge sharing: seeking a causal link. Retrieved from http://alianet.alia.org.au/publishing/aarl/32.4/full.text/milne.html Thompson, L