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Designing a Rewards System

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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 is exceeding expectations would be given more of a raise than the other who is just meeting the expectations. This will increase the other employees drive to exceed the expectations.
Each employee will be given the option of having health benefits after completing their probation period. This health benefits would include full coverage insurance, covering health, dental and vision. The benefits would cover themselves and their spouse and children. Retirement would be included in these benefits. For every dollar they out into a retirement fund, the company will match it 100%. We want out employees and their families to be able to have the best health care coverage they can get at a low cost to them.
To continue to entice employees to work hard and stay with the company, we would also include paid vacation and sick leave. Paid vacation lengths would vary per each year of employment. After the first year of employment from the start date, the employee will be given one week of paid vacation. For each additional year, the employee will be given two weeks of paid vacation. After the ten year mark of employment, it will increase to 3 weeks of vacation. After 20 years, it will increase to 5 weeks. Stipulations will apply. Employees are limited to no more than two weeks off in a row. Each year's paid vacation must be taken within that calendar year. Sick days will accumulate for each pay period. Each employee will be given 3.75 hours of sick days per pay period. This will accumulate throughout their employment and begins after their probation period.
There are nine factors of motivation that job seekers look for in a job. Each factor is a key to having successful candidates and employees. Each potential and the current employee need to be shown respect by the company. Showing respect to employees shows that the company is a great place to work. I have worked in places that employers were not very nice to their employees, and all it caused was the employees to not work as hard, hate coming to work and quitting. Showing the employees the respect that they deserve and being told that they are doing a great job is beneficial for all around. Being shown respect and gratitude boosts the employee’s confidence and creates more of a momentum for them to work better and exceed the expectations. While employees are working harder to exceed the expectations, the company grows and prospers because of the employees. People love knowing that they are making a difference in the world.
Employee’s need to know that the work they are doing is important and makes a difference. Currently where I work, the owner makes sure he makes it known to all employees that he appreciates them and that they are making a difference in people’s lives. It builds up confidence in employees when they know that they are appreciated and that helps build the company. In the company I work for, we all work unsupervised. I run the dispatch desk, and my drivers are on the road driving. We all work together to get the job done right. We are given the opportunity to grow within the company and improve our current skills and learn other skills. Each day is different and interesting. Employees seek jobs that are the normal day to day same as yesterday type of job. They need things to be different, like a new adventure every day to keep from becoming bored. In the taxi business, each day we meet new people from places all over the world and being able to hear about where they are from and about their culture keeps the job interesting

Anyone that is looking for a job has their ideal job in mind. They want something that is going to pay the bills, give them the flexibility that they need, include incentives for health insurance, vacation and bonuses and be shown appreciation. Not every place of employment can offer these things, but they do make a huge difference in an employee’s life and how they perform at work. If someone was paid good and worked for a place that had benefits and shown respect by the employers, chances are they will stay with the company for a long time. You cannot expect someone to stay working long in a place where they are paid poorly and are disrespected. The difference between a low-end job and a high is job is what the place of employment has to offer its employees. I would much rather work for a place that is on the low end of the income scale and be respected by my boss and shown appreciation than working in a high income job where I am treated poorly by everyone around. Most people need to be given an incentive to stay.

Reference:

Kanter, Rosabeth Moss. Computer World 42.2(Jan 7, 2008): 36.

Carbonara, Joseph M. Foodservice Equipment & Supplies 62.4 (Apr 2010): 4.

Weblog post. Newstex Global Business Blogs, Newstex. May 27, 2014.

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