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Reward systems.docx - Employee Reward System 1 Employee...

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Employee Reward System 1Employee Reward SystemStudent NameInstructorCourseUniversityLocation/CityDate
Employee Reward System 2IntroductionA successful reward system is the one that seeks to motivate employees towardsperforming at the highest level possible. Opportunities and job security usually encourageemployees to work for advancement and be proud of the work they do. When devising a rewardsystem for employees, it should be noted that there is no wrong or right order. Asking for inputfrom employees and letting them assist in creating a system that works for all is what is required.A reward system usually takes four forms; compensation, appreciation, benefits and recognition.Benefits and compensation are extrinsic awards offered to employees while appreciation andgratitude are intrinsic awards. Therefore, this paper seeks to explore perfect reward systems foremployees.A good number of people quit jobs because of various reasons. One of the main reasonsis that most people go for unanswered work calls just for enjoyment. These are the passions thata person didn't pursue in their specific careers. Cravings never disappear even after landing indifferent occupations. Besides, most of the hours are spent at work rather than the desiredhobbies. Therefore, people often look for ways that they can merge their passions with theiroccupations.Bringing into underutilised company strengths is also one of the reasons that make peoplequit their jobs. In most cases, employees may have multiple skills and only utilise one in theiroccupations. Therefore, they would feel like they haven't been able to employ the full range oftheir abilities due to the few job descriptions needed by the companies.One of the practical measures to reduce the number of people who quit their jobs is for themanagers to play a role in the designing of meaningful and motivating jobs. This is the best way
Employee Reward System 3to help employees enjoy the work they do, even if it means that the manager will have to rotatethe roles of staff in the places they are doing well. Most of the time, managers may fail tounderstand the work that his employees enjoy. However, they can arm themselves with theknowledge by asking new hires their favourite projects that they have previously done, those thatmade them more energised and their outside passions.Managers prove to be smart if they create opportunities for employees to showcase theirstrengths and abilities. For instance, employees with multiple skills should be given a chance totry new roles in a company. Through this, employees will be able to exchange knowledge andskills for the good of a company. Managers should know those who have information so thatthey give them chances to share the experience with other employees.

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Term
Fall
Professor
NoProfessor
Tags
Management, The Land, reward systems, Employee Reward System

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