Designing a Reward System

As a manager the three motivational methods that should be used would be to provide monetary incentives, employee recognition, and training incentives. Monetary incentives are one method that can be used by a leader or a manager in his or her workplace, these incentives is to reward an employee for his or her outrageous work-related performance. These incentives may include such as profit-sharing within the company, stock options, performance bonuses, and scheduled bonuses. These different types of monetary incentives can increase the motivation of its workers and can lead to more productive, less absenteeism, and may improve one’s quality of service. Monetary incentives when awarded to one employee may also be a morale booster can also encourage other workers to improve his or her work performance, and maintain a healthy, friendly, positive work environment. A healthy workplace is a product of a successful and productive work environment. Working in this kind of economy, monetary incentives is the excellent method to use. However, these incentives may persuade others and may not to some; the result will be the same, increased quality work

Recognizing employees for accomplishments such as finishing a major project, reaching sales targets or providing excellent customer service can be an important motivating factor. Set goals for workers to strive for and offer rewards for reaching them. This could be in the form of an employee of the month scheme, a bonus, or a promotion. Some companies conduct meetings where employees are recognised for good work in front of their colleagues. This can help motivate all the workers in the business to strive for success.

Base pay will be determined according to the value of the skills and competencies an employee has acquired on the production floor, there will be the incentive for skill development as employees base pay will increase as their skill proficiencies enlarge. This will also create mobility between jobs in the organization as many members will be proficient in numerous jobs.

Forbes credits staff recognition as the “[s]ingle most influential cause of great work”. Staff recognition also creates a positive culture which increases productivity. 2 In turn, this culture improves performance. 1

Unexpected awards and rewards- By rewarding employees or giving awards, it makes for great attitudes and work environment. Employees get motivated and excited not knowing what the day may hold if they are working hard, meeting goals, making improvements, going above and beyond for customers. Whether we give out certificates, prizes, money, food, employees get motivated and see what good work habits will get them. Surprises are nice. A good, happy work environment is great for the company and the

Salary Increase & Raises- Increase in salary will depend on the total poor performance and incidents marked in EE’s employment folder at the time of review. Amount of salary increase (if any) is at the discretion of AVA.

SALARY: Employees are eligible for merit increases from 1 to 4 salary steps after the first 6 months of employment, and thereafter annually based on their work performance and until they reach the top of their 12 step salary range.

“While Mangers complain about lack of motivation in their workers, they might as well consider the possibility that the reward systems they’ve installed are paying off for the opposite”.

Reward and recognition programs must connect the needs and expectations of the workforce with the company’s overall goals and strategies. A program that reinforces important company values and goals will encourage employees to act in line with such goals and emphasize the importance of achieving these goals. Alternatively, rewards which do not connect with organizational goals may convey a misleading message and encourage employees to act in a manner that does not facilitate the

Recognize & Reward Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Every human being needs motivation now and then. Incentives and recognition programs can support you in helping your employees become happier and more productive at work. As a leader, one of the main things to think about is how to recognize an employee for a performance that has exceeded expectations, objectives and goals. Therefore, I would like to introduce you in this paper to some ideas that hopefully would promote this method as one of the main priorities in today's and tomorrow's workplace.

Contentment and satisfaction of employees is extremely important as jobs are becoming more specified, selecting and training another set of workers is a long, expensive process. Motivation is the strongest, most efficient way to keep employees happy and at peak performance and things such as just saying “thank you” go a long way. In a study completed by Forbes, who polled over 2,000 professionals found that 53% of workers are more likely to stay with a company for a longer period of time solely based off of them receiving more appreciation from their boss/manager. That same study also found that 81% of workers are more motivated at work when their boss shows appreciation or thanks. Human resources has a huge part to play in this because of their role in the development, maintenance, and retention of employees. The HR management must make sure that bosses and managers with workers under their supervision feel appreciated and heard. This will lead to the employees working harder and/or better, making them more proud and happy, while benefiting the business by having a more efficient worker.

Another practice that helps to achieve career growth and development is offering training opportunities for the employees. The employees are offered benefits that help them to further their education and achieve higher qualifications. This is a strategy which helps to increase the skills, qualifications and competence of the employees. In this way, the staff are at a better position to gain promotions within the organization as education qualification is not a barrier for them. The employees become motivated as they become more competitive in the market which is good for their career (Branham, 2012).

To motivate employees to work towards reaching organizational goals, managers frequently depend on some form of enticement. Beyond monetary compensation, awards and additional types of acknowledgment can be given, and the ability to choose a work schedule is a possibility. A reasonable pay system, which would be an incentive for individuals and groups to achieve organizational goals, is a hardship manager’s face (Jones & George, 2011). Within the company that I work for, every quarter awards are presented to Customer Service Agents who have maintained a 95 percent or above quality score. Monetary awards are given out as well as time off coupons.

Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to