...Designing a Reward System HSM/220 Hector Smith Jr. July 1st 2015 Laura Haddon When looking for a job, everyone has their preferences. Some people will not take a job unless it pays good and had benefits such as insurance. While these things can be important, there are other aspects that are more appealing. A reward system is a great way to entice good hard working employees to come to work and stay at work. As part of this assignment, I will be using real life experience to compare and design my employee reward system. In my rewards system, I would ensure that all the employee needs are met by offering competitive pay and benefits. There would be a probation period before benefits would begin that would range from thirty to ninety days. These benefits would include paid vacation, health vision and dental insurance and possible shares into the company. Having the probation period install would give employees a reason to stay with the company. Employees would also be given a raise after their probation period ends and after they undergo an employee evaluation. During the evaluation, employees would be evaluated on their performance and how they handle pressure. By doing an evaluation, I would be able to see how well they work and if there is a possible promotion in the future. Raises would also be considered at this time as well. If one employee is exceeding expectations and another is just meeting them, they would not receive the same raise. The employee that...
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...Designing a Reward System Pamela Fabian HSM/220 August 17, 2014 Mrs. Serena McCall Designing a Reward System Having a motivation and reward system is an important part of a business. According to Kettner 2002 “There are nine major factors of motivation that have been studies and they are: respect for me as a person, good pay, chance to turn out quality work, chance for promotion, opportunity to do interesting work, feeling my job is important, being told by my boss when I do my job, opportunity for self-development and improvement, and large amount of freedom on the job. Rewards help to motivate employees to do their best work and gives them something to look forward to. As stated in the Encyclopedia of Small Business “The key to developing a reward program are as followed: Identification of company or group, goals that the reward program will support, identification of the desired employee performance or behaviors that will reinforce the programs goals, determination of key measurements of the performance or behavior, based on the individuals or groups precious achievements, determination of appropriate rewards, and communication of program of employees. To make the programs work for everyone certain guild lines have to be followed. In the early stages of developing reward strategies, incentive plans were often highly leveraged paying 15 percent to 30 percent of base pay. While these plans may have been financially attractive to employees, they encouraged employees...
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...Designing a Reward System In this paper, I will create a reward and recognitions systems that I am establishing for the human services organization. I will directly address the nine factors of motivation in terms of the reward and recognitions system, or R&R system, as it will be referred to for this paper. I will address how this system meets the nine motivation factors along with establishing how the system works to meet the basic needs of employees, offers competitive benefits, equally distributes said benefits and treats employees as individual people. Rewards and Recognition Summary According to the “Employee Reward and Recognition System” (2007), reward systems and recognition systems should be formed separately, and with that in mind, the R&R system that I am forming will encompass the two systems separately and work to integrate them both to make one system with two parts. This rewards system needs to be able to include multiple factors along with monetary compensation, such as learning opportunities, advancement opportunities, emotional rewards, lifestyle opportunities (Tropman & Jossey-Bass, 2009). In addition, there are reports explaining how giving the same rewards in a predictable way can be unhelpful as a motivating factor. “Why are holiday bonuses so ineffective? Because doling out a predictable reward at the same time every year--consultants call it "jelly bean motivation"--is not only a poor motivator, but can actually have the opposite effect on excellent...
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...Designing a Reward System Employers should begin from the principal that all individuals, not just women compared with men, should receive equal pay for equal work. Equal pay reviews must therefore look beyond gender and explore other diversity dimensions. This will help employers to spot circumstances where individuals are paid for unfairly, for no justifiable reason. It is in the self-interest of employers to explore the underlying issues, such as poor diversity training, weak performance management systems and biased on fairness as this contributes to better business performance. A diverse workforce can compliments benefits through increased productivity and performance, but managed badly, efforts to improve diversity can create conflict and tension in the workplace. Reward and diversity professionals need to work together to align the strategies need to achieve fair reward. They must make sure that pay and benefits are determined by the relevance against job-related criteria. Yet because most jobs are subject to changes by reviewing job descriptions regularly. This means monitoring the reward system using analytical job evaluation to determine where individuals are doing equal work, ensuring objectivity in all aspects of reward and communicating reward principles clearly to employees. An organization that recognizes individual diversity should create a flexible reward package, not one based on the ‘one size fits all’ theory. As a leader, don’t just read the assessment...
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...Designing a rewards system HSM/220 March 20, 2015 Shanti Anderson When creating a rewards system for employees, it is vital to understand the rewards system itself. A rewards system must be offered by managers that understand how effectiveness is to be achieved and what its employees consider to be the important factors in determining the quality of work life. There are four necessary reward system properties; basic needs satisfied, competitive benefits, equitable distribution, and employees treated as individuals. To ensure basic needs are being met the company must offer competitive pay scales, as money is the biggest motivator to every employee. Basic needs are described as the ability to support themselves and their families. This includes housing, food, transportation, utilities, etc. Also, an employee must feel their worth to the company and should be compensated accordingly. Employees want to know the company values their work. This gives each employee the motivation to give 100%. To ensure competitive benefits are offered, a company must know the financial responsibilities of offering these benefits. After knowing the numbers, the company's management must then determine what they can afford to offer in a benefits package. These benefits will vary depending on each employee's position but should be competitive on that pay scale to other companies. Benefits should be offered to every employee. If the company cannot afford to do this, they must shop...
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...Emiley Halteman Week 4 assignment 9/22/2013 Designing a Reward System New Employee reward system, Effective immediately Hello everybody. As the new manager on board I would like to set some new goals for all of us. I have evaluated each one of our employees and asked they give me an idea of what their basic needs are. With this helpful information from all of you I have created this new system to help all of us to be more productive. I feel that I have a plan that will make all of us happy and satisfied with our positions at the end of the day. Our goal is to help others to the best of our ability. Unfortunately we cannot do that if we are not able to work at our full potential. The plan I have set in place is not going to change everything over night but it will help change things as long as everybody is on board. I strongly believe in an open door policy with in a organization. Without this there is no way to know where the cracks are to be able to fix them. I ask that any time you have a concern to please come and talk to me and I will address it. I will also be coming up with a quarterly incentive program. I hope this program will motivate the employees to help bring our organization together as a whole. • Meeting basic needs I would like each supervisor to collect ideas from each employee to see what the basic needs are that are currently not being met. Once this is done I would like each department as a group to come up with and idea...
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...clients. A reward/motivation system can encourage and motivate employees to get as productive as possible while providing high quality, effective services. Employers would like to have high quality work, loyalty, commitment and service from their employees. Employers have reward systems in place to offer employees incentives perform to maximum efficient. The rewards can be monetary, recognition based, education, training, or material based. Having a good reward and well integrated reward system is very important to have maximum employee performance. There was a study conducted on motivation by P. Montana and B. Charnov in 1993. There was a questionnaire with 25 items motivating you to do your best work. Out of the 25 items only nine factors were chosen as the top preferences. They are respect for me as a person, good pay, chance to turn out quality work, chance for promotion, opportunity to do interesting work, feeling my job is important, being told by my boss when I do a good job, opportunity for self-development and improvement, and large amount of freedom on the job. These are some factors that should be considered when developing or implementing a reward system. Employees who chose to work in human services organizations often do so to have a positive impact on others' lives. Human service organization employees will work with other people’s and their problems and needs. A reward/motivation system should be in place to keep them motivated and happy. A reward system should...
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...Managing a business is an extremely difficult task to do, and to be successful at it one must have a highly motivated team to get all of the work done. Having a productive team means that everyone must be extremely motivated, and that will increase the chances of being successful at any venture the business may pursue. However, in today’s society, most businesses have a difficult time keeping their employees happy and motivated to work hard. As a result, it is difficult for the manager to keep things going. To be a successful manager, one must be able to meet the needs of everyone on board individually, while offering incentives and rewards to keep the team motivated. Motivation is the biggest factor in ensuring that you have a productive team. Though this seems to be a very obvious thing, the big problem is that a manger needs to determine what keeps each individual employee motivated. It is the manager’s responsibility to get active and determine what your team would require to keep them motivated. It is vital that you ask the questions needed to determine this. It can be a variety of things, such as offering bonuses for reaching a goal, having contests to see who can achieve bigger numbers, or an extra day off. It is vital that the manager determines what the employees would like to see; otherwise the manager will have a difficult time keeping their team motivated to do a good job. One step that a manager can take in keeping a team motivated is to use “Maslow’s Hierarchy...
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...Designing a reward system Designing a reward system When implementing a rewards program in the workplace there are several things to consider. When beginning to implementing a program the first thing to consider is the goals of the company or corporation. Sometimes the employer will seek the employees input for ideas of some possible rewards and promotions. Usually they reward will be based on performance of an individual, group, or department. Measurements can be of efficiency and work ethics. The reason for the reward program will be show appreciation and to keep the employees happy enough to stay with their jobs. Another step to build a reward system would be the budget for the incentives, and know the amount of employees that is employed and if they intend to hire more in the next year. Rewards are important but should only be rewarded if the employee has done something more than their basic job. “If you want people to change, you cannot reward stability, even though that’s exactly what many organizations do” (Lawler & Worley, 2006). They do this in the form of automatic raises for each period of time they have been with the company. The aspect of a reward program that covers respect for the person would include the employee doing work that is within their expertise or capabilities, instead of some lessor job that requires little or no skill, with the opportunity to advance within their department. To realize the employee’s need for good pay they should...
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...Edith Kee My Reward System 1. Come to work everyday on time for month = puts you in raffle for a gift card 2. Helping other when you can=puts you in a raffle for gift card and free cup of coffee 3. Chance for promotion= coming to work on time and helping others in the company and being polite to your boss. 4. Good pay= asking the boss for overtime to earn extra money one a paycheck 5. Being told by my boss when I do a good job= I would ask my boss to come and check to see how good I am doing on the assignment he has me working on. 6. Show respect when coworkers are on the phone talking to clients= The best way would be wait till your coworker is done on the phone then you could ask your question 7. Come to work wearing company's uniform for seven days= And receive two tickets to Oliver Garden and two movie ticket. 8. Showing respect to your boss at work= can get your boss to notice that you the employee understand how hard it is to run the business= Doing can get you time off because the boss can be very understanding because he or she is human. 9. If everyone shows the client respect and goes out there way to help the clients that come into the company for two months = You have a chance two enter a raffle to win a all pay trip to New York city for four days and three nights 10. Every employee that comes to work with a positive attitude and greets everyone with a smile for four months= has a chance to win a trip to Baltimore four six...
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...Designing a Reward System Jamie Traylor HSM/220 Lucille Reeves 8/2/15 Many people who work in Human Service positions can attest to the many needs of those that come to them for help have. These people see some of the best and worst in others, and they are not always capable of helping all of those that come to them in need. Human service jobs have the potential of being highly stressful, due to the large workloads that many faces in these positions. Due to the high-stress levels of these jobs, it has been shown that using an incentive program, encourages and motivates these employees. The needs of each employee need to be adequately met, as well as maintain a fine balance between the goal of the organization. Finding and establishing a reward system that works for both the employees of an organization and the people they serve, is the tricky part, because "the most effective plans are custom designed to fit the organization's objectives and cultures", (Cissell, 1987). When an organization establishes a reward system, they need to reward work that is beyond what is expected of each employee. If employees are rewarded for what is expected of them, then they would not feel the need or desire to perform above and beyond normal work performance. Many employees are self-motivated, by different types of intrinsic motivation factors, such as their pride in their work, opportunities for self-development and the thought of improving. Other employees function better when organizations...
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...HRM 600 Advanced Organizational Behavior and Leadership Role of Rewards in retaining skilled Employees Presented To: Dr. Akl Keyrouz Presented By: - Amale R. Abboud [ID: 19030] - Chimène M. Abou Nahoul [ID: 19542] Contents Abstract: 2 Introduction: 2 Overview of Literature 2 Results Discussion: 2 A- Employee Reward and Recognition Systems 2 1- REWARD VS. RECOGNITION 2 2- DESIGNING A REWARD PROGRAM 2 3- TYPES OF REWARD PROGRAMS 2 a- Variable Pay: 2 b- Bonuses 2 c- Profit Sharing 2 d- Stock Options 2 B- Reward Systems and Organizational Change 2 1- Reward as a Lead 2 2- Reward as a Lag 2 3- Rewards as a Motivator of Change 2 C- Conclusion 2 References: 2 Abstract: Reward is one of various human resource (HR) tools that organizations use to manage their employees. For an organization to collect its money’s worth, stimulate, and preserve skillful employees, it needs to confirm that its compensation system is not an island by itself. Not only is it important for an organization to tie reward to its general goals and strategies, it is vital that its compensation system supports with its HR strategy. Too many organizations plan and control their pay systems by default; or worse, fall back on “the squeaky wheel gets the grease” practices. More than any other area in HR, disregarding pay and performance systems can be devastating. It is a very costly and laborious procedure to employ new employees...
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...HUMAN RESOURCE MANAGEMENT MPM722 REWARD MANAGEMENT VIKAS CHOUDHARY Deakin ID: 213441882 Unit Chair: Dr. Elsa Underhill Number of Words: 3087 (exclusive of title page, figures/tables, appendices and references) INTRODUCTION The compensation provided by a company for the loyal services of its employees that helps it achieves its goals is known as rewards. At the very heart of the organization lie the human resources or the labor capital of a company which holds the secret to the success or failure of the organization. It is thus very important to have a well engaged workforce that is constantly enhancing their performance levels by using both their inner and outer potential limits. This will ensure that the organization becomes highly competitive in the market. However, an engaged and committed workforce is only possible when the company has a well designed reward management system that is able to provide individual employees with benefits that adds value for them. It is hard to find motivation for work among people unless there is significant rewards associated with the work that they perceive is proper compensation for their time and effort. Once the reward offered looks justified, the employees in their pursuit of the reward becomes committed to work in a manner that helps the company achieve their business strategies and goals (Edward & Christopher 2006). It is crucial that the rewards ensemble the factors that are perceived important by the employees and...
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...The Star Model (1) The Star Model provides a framework to assess and design organisations which successfully implement strategy. This model helps us to see the way in which all the elements of an organisation need to be aligned to deliver strategy. It is a combination of technical issues like the actual design of structures, processes, procedures and systems; and the social factors such as culture, capabilities, attitudes and values. The Star Model was developed by Jay R Galbraith and the descriptions in this paper are adapted from his book 'Designing Organisations' Strategy Strategy is the company’s formula for ‘winning’. It specifies the short and long term goals and objectives to be achieved as well as the values and mission to be pursued. It sets out the basic direction of the company. The strategy specifically outlines: * The products or services to be provided * The markets to be served * The value to be offered to the customer * The source of competitive advantage * What activities are most necessary (core work processes) It should also allow for experimentation and opportunism. Thus strategy should be shaped as broad framework to guide choices and decisions rather than a fixed set of plans and actions. Strategy should contain within it that which is fixed in terms of the core business and ideology of the organisation and that which is to change in terms of the challenging aspirations which will stimulate progress. It should never be expressed...
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