reward management
Reward Management Management and Organization
Abstract
As an organization it is very important for the human resources to control employees, motivate them and ensure productivity. Business owners are searching ways to reduce the costs and maximize quality so it is very important to get the most out of every employee. One way to do this is reward systems. In this paper we are going to analyze the reward system parameters and discuss about evaluation criteria.
Introduction According to Burack an incentive or reward may be used to motivate an individual or group. A reward can be anything that attracts the employee and make them work in joy. İncentive programs are mostly monetary but it may also include non-monetary rewards such as recognition, training, development and increased job responsibility.
The French says that paying can be two ways:
1. Fixed Salary
2. Reward linked to performance. Payment is happening one period to another depending on quantity or quality of work. The worker are paid according to work completed or items produced.
The most important thing about rewarding system is to seperate the ' 'salary ' ' from ' 'reward ' ' .So rewarding system is needed to ' 'pay off ' ' employees their performance, and also they will enchance employee motivation in order to make the firm reach its goals. Also rewards improve consistency of services and reduces absences of the employee. Rewards make the firm a great and attractive place to work, making employees happier and well-trained. Having such employees will also attract customers, can you think of a better advertisement?
The Key Features
Reward plans include monetary and non monetary elements. This will be better to match the needs of the organization and employees.
The goals that the reward system is serving to has to be identified.
Planning the incentive to be accurate and on time will be the basis of very succesful rewarding in order
Abstract
As an organization it is very important for the human resources to control employees, motivate them and ensure productivity. Business owners are searching ways to reduce the costs and maximize quality so it is very important to get the most out of every employee. One way to do this is reward systems. In this paper we are going to analyze the reward system parameters and discuss about evaluation criteria.
Introduction According to Burack an incentive or reward may be used to motivate an individual or group. A reward can be anything that attracts the employee and make them work in joy. İncentive programs are mostly monetary but it may also include non-monetary rewards such as recognition, training, development and increased job responsibility.
The French says that paying can be two ways:
1. Fixed Salary
2. Reward linked to performance. Payment is happening one period to another depending on quantity or quality of work. The worker are paid according to work completed or items produced.
The most important thing about rewarding system is to seperate the ' 'salary ' ' from ' 'reward ' ' .So rewarding system is needed to ' 'pay off ' ' employees their performance, and also they will enchance employee motivation in order to make the firm reach its goals. Also rewards improve consistency of services and reduces absences of the employee. Rewards make the firm a great and attractive place to work, making employees happier and well-trained. Having such employees will also attract customers, can you think of a better advertisement?
The Key Features
Reward plans include monetary and non monetary elements. This will be better to match the needs of the organization and employees.
The goals that the reward system is serving to has to be identified.
Planning the incentive to be accurate and on time will be the basis of very succesful rewarding in order
References: -Gupta, C.B. (2007), Human Resource Management (3rd Edition), New Delhi: Sultan Chand and Sons. -Strategic Reward Systems I: Pay for Performance - Leeds, Colorado University -Mamoria, C.B. & Gankar, S.V. (2002). Personnel Management (22nd Edition). Mumbai: Himalaya Publishing House. -Mathew, M.J. (2003). Fundamentals of Organizational Theory and Behavior (1st Edition). Jaipur: RBSA Publishers. -Armstrong, M. (2007). Employee Reward Management And Practice. Great Britain: Bell & Bain -http://www.etrnepreneur.com/article/75340 -Parker, Owen, and Liz Wright. "Pay and Employee Commitment: The Missing Link." Ivey Business Journal. January 2001. -Rauch, Maggie. "Communications Gap: Majority of businesses give managers little guidance on recognition." Incentive. September 2005. -Ventrice, Cindy. "Make Their Day! Employee Recognition That Works." Berrett-Koehler Publishers. April 2003.