Free Sample: Designing a reward system paper example for writing essay

Designing a reward system - Essay Example

Designing a reward system In the workplace Is a way for Employers to show their appreciation and gratitude to their employees. Although there are many different ways to implement a reward system there are many factors that contribute to a successful system. There are many steps and factors that should be considered by the employer in order to best satisfy the employee(s).

For example, while many believe pay incentives are the only necessary reward system to ensure happiness in he workplace, there are many more options for us, as the employer, to express more sincere appreciation. While it is important to implement a reward system that satisfies your employees and motivates them to come to work and do a good job, it is also important to make sure that rewards are not given unless truly deserved. Not only should rewards be given on a deserved basis only, work priorities should be taken into consideration as well.

For example, giving a vacation reward that effects a task being completed in the workplace is not an affective reward for the company ND will cause more stress for the employee once they return to work. Many believe money is a good incentive/reward for work that was expected to be done, however verbal praise given by the employer and his/her manager(s) in charge of the work staff seems to go a lot further in making the employees feel respected and appreciated. Not only do the employer and managers need to take part in developing a reward system, there are different ways to engage the staff without causing confrontations between co workers.

For example, successful organizations disperse pinion surveys, collaborate ideas In teams as well as design and Implement reward programs, and many times use a combination of these techniques to design the most successful reward system for their employees that both benefit the organization as well as keeping the employees wanting to advance In the company and come to work happy on a dally basis. Studies that have been conducted on employees In regards to their workplace have revealed several different factors that we, as employers, should take Into consideration when developing a successful reward system.

First ND foremost the studies revealed employees seek the need to feel respected as a person, not as Just another employee. In order to make sure each of my employees feel respected I would ensure I treated them as equals to myself. A lot of employers them. While making sure they know who is in charge and they can’t get away with whatever they want, I would make sure to speak to them as an equal and treat them as I would want to be treated. With that being said, taking personal interest to their personal life is also important in making sure they know you care about them beyond the workplace.

Another huge factor the study revealed was the employees need for good pay. Many people choose their Jobs and careers based off how much money they will be making and could potentially make. As an employer I would make sure the wage complimented the Job as well as offering pay increases based on performance, deliverance, and time with the company. For example, if all needs by the company were met, consistency in attendance and dedication is shown, an incentive such as paid time off would be given. The chance to turn out quality work is also in important factor in fulfilling the needs of your employees.

Many employers eave cut back on what they are providing their employees with because of the suffering economy. However when cutting back on the resources and supplies/ materials employees need to complete their said task, you as an employer are hurting them in the long run which in return hurts the company. It is my Job as the employer to make sure I fulfill the needs of the employee for them to be successful in their Job. Whether it is providing a safe, clean environment in which they work, internet and other materials or simply making sure they have a break room with coffee to provide them the energy they need to complete their day.

Providing coffee may seem silly but to some it might be the most important part of their day as far as the workplace is considered. This is where the anonymous surveys would be beneficial in helping the employer know what the employees feel is needed for them to produce quality work. One of the biggest things an employee looks for when seeking a new career is the opportunity to advance within the company. In order to assure my employees there will be opportunity for advancement I will make sure there is an availability for schooling and/or other educational programs to allow them o advance in their skills.

For example, if the said employee is expected to bring in 100 referrals per month and exceeds this expectation on a consist basis for at least 6 months, a considerable pay increase in his/her base pay would be applied. Who likes to work in a boring, repetitive environment where there are no opportunities for change? Most people do not like to work somewhere in which there is no change or opportunities to do interesting things such as travel and/or interact with different companies or communities. As the employer I would use my employees opinions to ecocide on different activities or events that we could participate in as a whole.

For example, activities such as participating in runs/walks/special events to promote the company and encourage team building/bonding. Another factor employees expressed as being important in motivation in the workplace is for the employee to feel as though their Job is important and appreciated. I would ensure my employees felt as though their Job is important by doing many of the following, verbal praise, incentives, written acknowledgment and consistent recognition are Just a few of the says I would make sure my employees know their Job is important and valued.

Not only is it important to make sure your employees feel their Job is important and valued, it is also important to make sure that verbal praise and recognition is given good Job, therefore as en employer I would develop a praise system that involves not only me as the employer, but all management and supervisors involved. Recognition on a daily basis for simple work is valued more to an employee than recognition for a big project that was expected of them. Self development and improvement was dressed by the employees in the surveys as well.

Such opportunities include extra job training, schooling, educational classes or seminars, and other activities that can further their knowledge in their Job/career. Freedom on the Job was also on the top priority list for requirements from employers. As freedom might be a little scary to think about in incorporating it into the workplace, it is important employees feel as though they are not prisoners in their workplace. Freedom such as flexible hours, paid time off, vacation time, and personal time would all be incorporated into my reward system for my employees.

Having the freedom to express their concerns or suggestions in regards to the company is also an important factor in making sure employees do not feel obligated to not share such feelings due to chain of command. Promote a workplace environment of recognition and praise by highlighting employee achievements in the organization’s newsletter. Encourage management to take time to recognize those who have made a difference in your organization. Not take away an employee reward program to punish employees if they fail to live up to organizational standards. Taking away rewards will only cause hostility and increase turnover. Employees are the human capital of an organization. Organizations have the ability to reward employees in many ways” (Lealer & Worker, 2006). “To attract, retain and motivate employees, the company must implement an appropriate reward systems. The objective of this reward systems is to encourage desired employee behaviors to ensure the success of human resource strategies. Therefore, designing and implementing an appropriate reward systems that complements human source strategies and fits business competitive strategies is currently an important issue” ((Whish & Chem., 2011). Another strategy that encourages organizational innovation is promoting employees from within to fill available non-entry-level positions. Incumbent employees can thus look forward to excellent career advancement opportunities within the organization and not be tempted to look outside. This in-house promotion strategy can positively affect employees’ loyalty, creativity and innovation. However, if the company always promotes from within, promising senior-level executives from outside could be overlooked. Awards. – Recognizing individual and team accomplishment with awards also encourages innovation. Whatever form an award might take (peer recognition, banquet, plaque, letter of appreciation, etc. ), its very existence can galvanism employee contributions” ( Guppy, 1993). Job satisfaction is likely to provide employees of all levels with feelings of fulfillment, achievement and even pleasure for their Job. Thus, such feelings can make people more productive, creative and therefore more profitable for the organization.

I believe with good management and a good reward yester, rather it be compliments on achievements or cash rewards, all good work should be recognized as well as work that has not been accomplished as well, so that they can learn and benefit from the experience or be rewarded for a Job well done.