EMPLOYEE REWARD SYSTEM

Employee Reward System

Employee Reward System

Introduction

Incentives can be classified as "financial" and "nonfinancial" however would be more convenient to classify them as "competitive" and "cooperative”. Organize people in groups make significant and work together towards a common goal, creates a better learning in the educational level and increased industrial production level. The term incentive will be used as force propelling it is used as a means to an end. An incentive increased activity in the direction of that end. In industry the incentive is often used as a means to encourage the employee to achieve the goal of another person, you may not feel interested in reducing costs or increasing production deal, but can be persuaded to reach that goal through of an incentive (Parker, McAdams, Zielinski, 2000). Competition and cooperation can be considered as incentives. The competition requires each individual to do a better job than the next (Fedor, Caldwell, Herold, 2006). Cooperation requires that individuals contribute equal and maximum efforts towards achieving a common goal. Competition and cooperation are not mutually exclusive, especially when individuals cooperate in groups to compete with other groups (Huffington, Cole, Brunning, 1997).

Discussion and Analysis

Old Approach

Many companies mistakenly assumed that what works for one organization will work well for all organizations. Companies often seek to create incentive programs without thinking in detail about how each feature of the program will best suit to your targeted audience (Orpen, 1982). The supply of ice cream pie and when employees want to work flexible hours, paid vacation, training, or the ability to work from home is an example of perverse incentives. To facilitate the creation of a useful program, each function has to adapt to the interests of participants. "In order to facilitate the creation of a useful program, each function has to adapt to the interests of the participants (Dennis, 1998)." successful incentive program requires clear rules, rewards, appropriate strategies, effective communication, and measurable metrics for success. Each element of the program tailored to the target audience, companies are better able to recruit participants in the program and improve overall program effectiveness.

Current Approach

Internet program: First appeared in 1996, the use of incentive systems in very rare. According to the online promotion committee (OIC) since its inception, the number of online programs are almost twice a year. Today, almost every traditional incentive company offers an online component in the programs, including recognition of employee motivation, sales, channel programs and consumer promotions (Cameron, Pierce, 2002). His media companies operating online experience effective programs, reports and compliance with the concession. His media companies operating online experience effective programs, reports and compliance with the concession. An online programs incentive are an attractive alternative to traditional online programs of the two online programs save money and time and allows organizations to have greater control (White, Druker, 2000).

Program points: point to the incentive programs of the type of program where participants earn and redeem points for prizes. Depending on the type of program and organizational goals, points can be obtained with ...