Employee Rewards Exam 1

Employee Rewards Exam 1 - EmployeeRewardsExam1...

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Employee Rewards Exam 1 Types of Rewards 1. Intrinsic Rewards-  Factors related to growth needs. a. Ex. Job challenge, interesting work, opportunity for advancement. b. Can be given to self without control of manager. 2. Extrinsic Rewards-  Factors related to human existence and relatedness to  others.  a. Controlled by managers or peers. b. BOTH TYPES ARE IMPORTANT c. The mix of rewards communicate what  matters  in the organization. - Different people are motivated by different things. - Sometimes monetary rewards can cause problems for companies ($= respect so  those who do not receive $ feel disrespect.)  Reward Variables 1. Timing of reward-  schedule of reward. (be consistent) 2. Anticipation of reward-  Explicit or surprise. 3. Form of reward-  Cash, stock, benefit, merchandise, etc. (recognition,  celebration) 4. Administration of reward a. Basis of distribution- equality vs. equity i. Equality = we’re all in this together, distribute equally ii. Equity = individual performance b. procedures for determining reward 5. Disclosure of reward-  secret or public. a. Some rewards can turn into entitlement by the way they are given-  sometimes causes lack of ‘hard work’, they know they are getting it, why  work hard? Starbucks rewards both full and part time equally. b. WFM work in teams – rewards are team based. “On the folly of rewarding A, while hoping for B” Example:  CEO pay in USA vs. Internationally (GM vs. Toyota).  CEO’s over rewarding  – usually whistleblowers get fired. Easily tracked by media or outside corporate  ‘watchdog’ companies. When reward systems misfire 1. Politician:  Tell the Truth?
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2. Medical Practice:   Heal sick people 3. Universities:   Reward for good research. What about teaching? 4. Parents:  Reward students for good grades.  What about learning? 5. Team Sports:  Rewards for individual performance.  What about team  performance? 6. Sales:  Sales volume/ units are rewarded. What about customer service? 7. Restaurants:  Servers receive tips from customers.  What about busers, cooks,  and dishwashers? Employee Motivation –  goal directed Definition of Motivation:  Factors which energize, direct, and sustain employee  behavior. - Motivation is goal directed behavior.  - Motivation is NOT the same as performance (could be ability) - Performance = Motivation X Ability - Dimensions of Motivation  o Form  (people without goals cannot be motivated) – shape motivation  takes o Direction –  does a person have a goal that will lead to expected  performance o Duration –  sustainable over time (is it consistent?) o Intensity  – energy  - Learning Curve:  Time vs. Performance - Outside factors (drinking, sickness, etc.) Theories of Motivation
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This note was uploaded on 10/14/2010 for the course MGMT 4030 taught by Professor Saturay,st during the Spring '08 term at Colorado.

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Employee Rewards Exam 1 - EmployeeRewardsExam1...

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