Recognition and Reward Paper

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.

Managers are to make all employees aware of the opportunities for profit sharing based on the achievement of goals. Verbal and monetary recognition will be used to reinforce good behavior, to motivate employees, which will increase their performance leading to additional recognition and job satisfaction.

Creating and implementing new and improved rewards systems at work has been a tool of success for many organizations. Corporations use these rewards to boost employee morale and to allow their employees “me time”. Throughout the course of this paper, I will determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. Next, I will explain how innovative benefits could be tied to specific jobs. Thirdly, I will critique the effectiveness of equity-based rewards systems versus those with more creative approaches. Then, I will discuss the key elements of integrating innovation into a traditional total rewards program. Finally, I will recommend a

A motivated workforce can be a significant success when employees are motivated to work at a higher levels of productivity. Also this means the whole organization is more effective at reaching it’s goals. Rewards can be a positive outcome when it comes to boosting your organizations self-confidence and higher employee satisfaction. Having a reward system can always be a good outcomes because this shows how much your workers are willing to work to achieving a goal in order to receive something in return. This not only gets things done but brings out another side of your organizations as a whole.

In the workforce, employees turns to be more involved in the successful results when they know that they will share in the rewards (Wilkinson, 1992). There have to be a well established incentives for better creation of ideas and efforts which would lead to increased business. Rewards allows employees to see themselves being valued and recognize their involvement in the business. Employees' morale and motivation is boosted and the staff progress on with higher level of creativity and

The effectiveness of a total rewards program is determined by the specific practices organizations use. However, the process of implementing these programs is laden with challenges. As such, an organization ignores these challenges at its own peril. This paper seeks to recommend changes to the Burlington Coat Factory’s total rewards program and provide plans for communicating these changes in addition to the risks and opportunities emanating from these reward programs.

The implication of financial rewards are fairly debatable and have gained significant attention through numerous publications. The sizeable influence of this subject has generated major controversy over the potential impact of this trend. Over the decade, many scholars have discussed this phenomenon while citing credible sources.Therefore, I consummately accord with this statement that rewarding an individual for his service is both encouraging and motivating for others. Additionally, employees could also include group rewards such as dinners and holidays.

Total Rewards reflects what employees’ value from its employer. It focuses on five elements that attract, motivate, and retain the talent to achieve business goals. These elements are: Compensation, Benefits, Work- Life, Performance and Recognition and Development and Career Opportunities (WorldatWork, 2007, p. 4). This paper describes the five advantages of a total rewards approach, five ways a total rewards strategy can go astray, six steps involved in the design of a total rewards program and eight steps involved in the communication process of a total reward program (WorldatWork, 2007, p. 15-64). Finally, the paper

A direct link exists between employee motivation and product/service quality. When employees are aware of the company’s goals and objectives, and know the significant role they play, they will provide higher quality products and services. Implementing a model to reward employees for meeting company goals is one

I agree with your solution to incentivize employees with social recognition awards. As already stated, social recognition awards will boost morale and give an individual as sense of pride, especially if presented amongst peers. Once an individual has received a social recognition award, it motivates the individual strive for more. Even more, the peers of the recipient will aspire to be recognized as well. Furthermore, social recognition awards can have an indelible effect and feels more tangible than money, because the sentiment from award can make an individual feel validated within an organization.

Organisations place rewards policies within the organisation for many reasons. Reward systems through performance management allow organisations to improve staff retention by keeping them motivated. In addition, reward packages encourage high performers to excel within their expertise. This overall gives the organisation a positive image as the staff turnover will be low and give the sense that the company looks after their employees.

Additionally, the Spirit Program is successful because management encouraged employee’s participation and interaction, which leads to positive recognition and appreciation. Boltax (2011) points out the importance of peer positive recognition; he believes that positive recognition should not solely come from superiors, but that peer recognition can also provide the right effective feedback to employees. Ultimately, this incentive method achieves two goals:

Institute employee reward systems- employee reward programs help in boosting employee morale and increasing their engagement within institutions. Rewarding the employees also makes them feel that their efforts within the organization are appreciated. This helps a lot in enhancing employee

Organizational objectives contribute to creating a motivating work setting because they provide employees with a sense of meaning and purpose and help employees understand the goals they should be striving for (George and Jones, 2005). Mary Kay Cosmetics wants to be the top sellers in their industry, but they also want to promote a customer-centered culture that strives for total customer satisfaction (Incentive, 1991), but their current incentive program doesn't provide rewards for beauty consultants with high levels of customer satisfaction. Just because a VIP is a great seller and has the ability to recruit, doesn't automatically mean that she has the most satisfied customers of all her team members. Reward systems, such as Mary Kay's motivate employees to do well in the areas of their jobs that are measured by the performance-evaluation system. The problem is that rewards systems do not always measure all the behaviors that the individual need perform for the organization to ultimately be successful (Lawler, 1994).

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