Every organization should always have defined goals and objectives. Successful and employee focused organizations would ensure that employees worked hard towards these goals and objectives by implementing a reward system. This will ensure that the employee's goals are met and by motivating them to achieve these goals dally.
The proper Employee Reward System Is considered an external positive motivation tool used to keep employee's focus and determination. "A well-designed employee Incentive compensation plan will make each department or Individual focus on things they can control.The best plans encourage the behaviors that create successful results. " (Schaeffer, 2005).
My employee rewards system will reward outstanding performance that has achieved results beyond expectations. This way the employees will have motivation to go above and beyond their expected duties. Rewarding for expected work are counter-productive and only work that Is over and beyond the assigned duties should be rewarded. "A good incentive plan must be quantified, must be a predictable result to the employee and must be directly related to measurable performance beyond the norm. (Normandy). Employees should be ell aware of the link between their efforts and the rewards they will receive based on this performance.
Performance management programs should be put in place that will help the organization to plan employee performance, monitor performance through measurement and feedback, assess performance against established goals, determine employee development needs, and recognize and reward goal achievement. Rewards should be used to strengthen good behavior and productivity. Rewards Systems should be used as a way to reinforce positive behavior.Aspects of work that may be rewarded are working beyond the call of duty, taking initiative, helping others in various areas, reliability, exceptional attendance record, outstanding service reports, completing a project before the deadline, displaying exceptional team-work and exceptional time management.
A point system may be designed to quantify all these aspects for a certain time period. Depending on the size of the organization, quarterly reviews may be put in place. The point system can then be averaged and used to calculate the reward earned by deferent employees.A simple point scale should be mapped out based on acts of those displaying exceptional behavior. These points can then be distributed during the course of the quarter and tallied up at the end. There should be announcements made for those that scored exceptionally high In the point system at the end of each quarter along with the prize they received.
This will serve as motivation for those that have not been performing above and beyond expectations to do so In the future and have a chance at earning a prize as well. Usually Employee Rewards Systems that reward Individual employees and teams are more successful that profit-sharing plans. Fit- sharing plans are a way of rewarding all employees for overall success of the organization and profit-sharing does not recognize outstanding performance of individual employees. As such, employees who perform excellently may feel deprived of any tangible rewards for their exceptional performance and feel as if everyone is employees will not have the urge to perform beyond expectations. An Employee Reward System that focuses on rewarding individual employees and teams will work as a driving force for employees to work towards achieving the organization's goals ND objectives as well as their individual goals that have been set.Rewards should be given out in three different types of rewards: immediate, short-term and long- term rewards.
"The typical employee incentive plan should include a three-tier approach of immediate recognition for a Job well done, short-term rewards for performance over a month or quarter, and long-term rewards for being a loyal employee over the years. " (Schaeffer, 2005) Immediate rewards could include announcements, small cash bonuses, lunch with the director or other rewards that ill make the employees feel good for their outstanding performance.Short-term rewards could include larger cash bonuses, employee of the month awards or special gifts given out to those employees that excelled not only above and beyond but above and beyond any other employee's monthly work. Long-term rewards can include a yearly bonus, a tenor track, extra vacation days, or other rewards that may accumulate and have the employee think twice about leaving the company because of the "extras" they have built up among the years. Long-term benefits work very well to retain these excellent employees.
Once a good Employee Rewards System is implemented properly, the organization as a whole will work to achieve its goals and objectives. If the Employee Rewards System is not thoroughly planned out and executed - it will in turn be a waste of money and time. Another important factor in Employee Reward Systems is to always follow through with what is promised. If a reward for something in particular is spoke about but not followed thru with, it will do nothing but discourage the employees for working above and beyond and may even discourage them from what has always been expected of them.Also, an abrupt stop to an Employee Reward System will also discourage employees for going above and beyond what is expected.
Think about it, if you never tasted ice cream before - you wouldn't realize what you were missing. However, if you had ice cream for years and years and then one day could never eat it again - you would be so disappointed in not being able to eat that ice cream again. It is the same with a rewards system. If never been introduced to it - it is not expected. However, if it is introduced and implemented for a period of time and then falls of the radar - the employees will in urn miss the rewards system they were used to.Organizations should realize the great benefits that a rewards system can bring them and include this in their yearly budgets.
Appropriate awards will not only develop employees and highlight the hard workers, but will also make a friendly competition between employees and determine the greatest of employees. Employee Rewards Systems should be geared towards improving performance in critical stages in each employee's career. It will ago long way in improving productivity and longevity of the organization as a whole.
