We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Designing Reward Practices To Influence Employee Behavior - Essay Example

Comments (0) Cite this document
Summary
In this paper, the researcher will discuss reward practices/incentive plans and the way managers can use them strategically to improve employee performance. Thus the discussion seeks to answer the question: How reward practices or incentive plans can influence employee behavior and improve their productivity?…
Download full paper
GRAB THE BEST PAPER
Designing Reward Practices To Influence Employee Behavior
Read TextPreview

Extract of sample
"Designing Reward Practices To Influence Employee Behavior"

Download file to see previous pages The paper tells that managers have grown to understand that setting a strong management system is the main force that helps a company in the achievement of strategic goals. A strong management system is one, which includes such features and processes, which not only benefit the organization but also the employees. Reward practice is one of the most considerable features of a strong management system, which play a vital role in improving employee productivity and performance. Incentives are those benefits that a company offers to its employees as a reward for achieving some particular goals and objectives for the company. Incentive plans also plays a considerable role in achieving maximum sales employees’ productivity. Schwartz found that incentives plan is one of the most important planning activity related to the employees of a company. Ellis-Christensen states, “They could help encourage members of a company to achieve certain goals or they might jumpstart extra learning in a classroom”. The factors that managers should consider while developing an appropriate incentive plan for the employees include type of compensation plan, method of payment calculation, discretion to award, conditions for implementation of the plan, practicalities of the plan, and culture of the company. According to Colt and Perrin, all companies develop incentives schemes that support and communicate the cultural values of those companies. Managers should consider the organizational capabilities, managerial maturity, as well as the culture of the organization while designing a reward/incentive plan for the employees....
15), all companies develop incentives schemes that support and communicate the cultural values of those companies. Managers should consider the organizational capabilities, managerial maturity, as well as the culture of the organization while designing a reward/incentive plan for the employees. Pay for performance acts as one of the most suitable motivational factors for the employees. It is very important to do a complete study of the organizational culture while designing a reward system in order to ensure alignment of reward system with the achievement of organizational goals. 3.2 Needs and Demands of Employees According to Beardwell (2010), understanding employees’ needs and demands is also very necessary to design an employee-oriented incentive plan. Managers should design an incentive plan by incorporating the basic needs and demands of the employees in the plan. When the employees of a company know that their company has implemented an incentive plan through which it rewards their job productivity and efficiency in terms of both cash rewards and non-cash rewards, they show more commitment to their work, which not only improves their productivity but also increases the overall productivity of the company. 3.3 Statement of Plan’s Objectives The most critical issue, which managers need to consider while developing an incentive plan, is development of a clear statement of the plan’s objectives. The statement includes purpose of the plan, eligibility criteria, and types of incentives. Goal setting and employees’ improved performance are two of the basic advantages of an incentive plan. 3.4 Link Performance to Organizational Goals Alignment of the employees’ performance with the organizational goals is the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Designing Reward Practices To Influence Employee Behavior Essay”, n.d.)
Retrieved from https://studentshare.org/business/1394418-hrm-answer-one-of
(Designing Reward Practices To Influence Employee Behavior Essay)
https://studentshare.org/business/1394418-hrm-answer-one-of.
“Designing Reward Practices To Influence Employee Behavior Essay”, n.d. https://studentshare.org/business/1394418-hrm-answer-one-of.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Employee Reward nd Development
Knowledge has become a currency for competitive success apart from being a key factor for productivity (Egan, Yang and Barlett, 2004). According to Cole (1995) and Sadler (1994) learning is a complex process involving skills like mental mapping, use of intuition and imagination, and problem solving (Yeo, 2002).
6 Pages(1500 words)Essay
Employee Reward and Development
It is generally accepted that the human capital of an organisation is measured as one of the most essential elements in terms of building long-term value and building a flexible and agile base to maintain future growth (Price, 2011). The concept of employee development has come into attention in recent years as organisations have observed that the competency of an organisation to retort rapidly and flexibly to change is mainly dependent upon the capability of its human resources in order to learn, adapt and develop (Jarvis & et.
6 Pages(1500 words)Essay
Employee Reward (Executive Reward)
The compensation includes salary, bonus, shares, company’s stocks, perquisites and other forms of benefits (CIMA, 2010). Executive compensation is also regarded as a total rewards umbrella and also the company’s strategy as a whole (CIMA, 2010).The executive total reward system and model sets a separate framework and context for executive compensation (Conyon, 2006).
11 Pages(2750 words)Essay
Performance and Reward Management

The author states that the evaluation of performance can be carried out at various levels such as evaluating the whole human resources system, evaluating the specific subsystems within the human resource, team performance and individual performance. A good performance strategy entails a good competitive strategy.

15 Pages(3750 words)Essay
Reward Management
What do they do differently Is there a magic formula behind their practices When analyzing the various programmes companies implement and use, it is apparent that leading-edge organizations that have invested significant efforts in developing, testing and rationalizing their approach to reward management run programmes that deliver comparably higher value to their businesses.
6 Pages(1500 words)Essay
Employee Reward Systems Presentation
Reward systems are helpful to both the employer and the employee. Employees see rewards as a goal or an endpoint to work toward, which provides direction and an ultimate feeling of accomplishment. Employers enjoy the product of their employees' hard work and generally view the actual reward as a good investment in their company.
2 Pages(500 words)Essay
Total Reward
The expectations and the demand of the work force have changed with time. The quality of workforce today has improved significantly, which has lead to increased expectations in terms of salary,
8 Pages(2000 words)Essay
Employee Relations & Reward
Frequent trend changes in product and services markets combined with growing quality concerns force employers to develop more efficient and flexible methods of production. The composition and practices of the
10 Pages(2500 words)Essay
Compare reward approach between Asia and Western economy
Globally human resource management has been a challenge to many institutions. The use of total reward management approach has shown to be an appropriate strategy even though there is no isolate strategy that is best to be in all settings. The
14 Pages(3500 words)Essay
Mcdonalds reward and practices
McDonald’s has realized this secret and has, therefore, directed a lot of energy in motivating its workers through a reward system and structure that keeps the vibrancy and
2 Pages(500 words)Essay
Let us find you another Essay on topic Designing Reward Practices To Influence Employee Behavior for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us