Pay for Performance Incentive Awards Program - Assignment Example

Pay for Performance Incentive Awards Program Introduction Remuneration is among the most important motivators in any workplace. Money is among the primary reasons that compel people to work. As such, with effective management remuneration is the most cost effective way of motivating employees thus enhancing productivity in organizations. The pay for incentive is a new initiative that seeks to reward productivity as a way of enhancing the productivity of the employees. The program applies to all employees within the organization albeit differently depending on the level and roles of the different employees. The program that will run for five years within the organization seeks to maximize productivity besides developing an appropriate mindset among the employees. This way, the program is not only a short-term project but also a long-term motivational project. As discussed, the program will incorporate all the employees within the company including the top-level managers to the junior employees. In order to implement the program appropriately, the implementation will therefore vary depending on the employees. Just as the title suggests, the program seeks to reward productivity. Each level of employee has specific goals that the program will strive to achieve. In the top-level management for example, the program seeks to enhance creativity, intuition and management prowess. In middle level management, the program seeks to enhance both obedience and problem solving skills while in the junior employees of the organization the program seeks to enhance both competition and hard work. This way, the program enhances the overall productivity of the entire organization. Preliminarily, the program will ensure that all the employees within the organization are capable of undertaking their different roles. This complements the objective of the program since it seeks to reward productivity. The employees must therefore meet the qualifications set for their different roles a feature that ensures that they are capable of undertaking their roles within the organization. Furthermore, qualifications ensure that the employees are capable of meeting the obligations of their respective positions besides enhancing the ease of management. Top-level management must have appropriate qualifications. Managers make decisions daily operations within the organization through the formulation and implementation of policies. As such, they must have both the appropriate education and professional training to enable them make such appropriate decisions. The performance reward program will acknowledge the academic qualifications besides the productivity of the employees within the organization. After ensuring that the employees qualify for their respective positions in the organization, the project will apportion appropriate remuneration to the employees based on both their qualifications and positions within the organization. Top-level managers earn the highest. As discussed earlier, managers make operational decisions concerning the management of the resources within the organization including the human resource. As such, the program apportions them the highest pay for their services. Middle level managers earn the lower than the top-level managers do. The junior employees who possess minimal education earn the least. Despite the disparity, the salary is an adequate reward to the employees and equally competitive. This implies that the program must reward the employees better than other companies within the industry do. The program will compare the rates of human resource within the industry thus rewarding its employees appropriately. The salary the project offers is higher than those offered by other companies within the industry are. As such, the basic salary should spur the productivity of the employees thus making the company more productive than the other companies are. Besides the competitive salaries, the program has numerous other features that will measure and reward productivity thus ensuring that the employees sustain the productivity required. Among such features is the nature of the contract. Instead of a permanent and pensionable job, the project introduces a unique contract system. A contract is a legally binding agreement that ensures that both parties in the agreement undertake their duties as stipulated in the contract. The contract will therefore bind the employees to the terms of productivity thus ensuring that the managers supervise and measure the productivity of the employees with the view of renewing the contract. The contract system of hiring employees is the most appropriate way of ensuring that employees uphold high standards of productivity with the view of upholding the terms of the contract. Furthermore, it provides the management with the authority to supervise and measure the productivity of the employees thus undertake appropriate measures. Additionally, the program will have an effective way of acknowledging and reward productivity while punishing unproductivity. The program will therefore introduce such titles as he employee of the month, manager of the month and employee of the year among other equally significant titles that will enhance the productivity of the organization (Koontz & Aryasri, 2004). The titles have a monetary value as the employees who achieve such titles receive appropriate financial rewards. The titles will help instil the spirit of competitiveness as the employees strive to surpass each other in their respective roles thus enhancing the productivity of the company. The implementation of the program requires fair and sincere implementation in order to ensure that the supervision recognizes the productivity of the employees. The financial reward is an appropriate motivation that will entice the employees to enhance their productivity. The program will also investigate and determine unproductive employees before advising appropriate punishments fir such. As discussed earlier, the program should enhance the productivity of the organization. This implies that the punitive measures must have appropriate values to the organization thus enhancing the productivity desired. Nonproductive employees will receive warnings and a second chance to improve their records (Halbert & Elaine, 2012). Failure by such employees to improve their productivity will earn them either demotions are terminations of the contrast. Punishments are equally effective ways of ensuring that employees enhance their productivity. Employees will work harder because of their fear for the stringent punishments in case they fail to improve their productivity. This in turn improves the productivity of the business. In implementing the program, the human resource managers must exhibit human values and ensure that the program does not deter productivity. This implies that the managers must have adequate psychological knowledge thus implement the program in a manner that enhances the productivity of the employees. Awarding the tittles to the employees is a coveted affair. As such, the management will organize such corporate events as diners where they will recognize the most productive employees within the organization. Announcing the most productive employees publicly within the organization is commendable. However, the naming the least productive employees requires caution in order to prevent humiliating incidences within the organization. Furthermore, the management must uphold high ethical and operational standards thus ensuring that they use appropriate techniques of measuring the productivity of the employees within the organization. The human resource managers must uphold fairness and equality in implementing the program. The human resource managers must therefore uphold high ethical standards in their operations in order not to appear biased in the implementation of the project. The surest way of doing this is to publish the means of determine the productivity of the employees within the organization. The management can introduce a numerical way of measuring the productivity. Counting the number of deals an employee secures for the company is one sure way of developing a numerical mechanism of measuring productivity. As such, the employee who secures the highest number of deals in a month becomes the employee of the month, while naming the employee of the month the human resource managers must state the number of deals such employees secured thus justifying their qualifications for the rewards. This way, the technique appears fair to all the employees (Greenhaus, Gerard & Veronica, 2010). Another equally important aspect of the program that requires appropriate consideration is managing defiance in the unique employees who will feel that the project is unfair. As explained earlier, the success of the project relies on the reception it receives from the employees. The attitudes of the employees will determine the success of the project thus enhancing the productivity of the company. Dealing with such employees is therefore an important feature that requires appropriate management. The human resource managers must assure the employees that the project will uphold fairness and equality. The managers must uphold ethical standards of operation by ensuring that the employees qualify for their respective roles. By assuring, the employees that promotions will rely on both merit and productivity will improve their assurance. Additionally, the managers must always provide numeric evidence for the employees they select for the awards. As explained earlier, reproaching employees is a vita process that requires the managers to take care in order not to discourage productivity. As such, the managers will not name the least productive employees public. Instead, the human resource managers will call such employees privately in their office for caution among other disciplinary measures. In retrospect, remuneration is an important factor that motivates productivity in a company. The human resource managers must develop an appropriate program that ensures that the program enhances the productivity within the company since it can as well discourage productivity. The human resource managers must use such programs to acknowledge and appreciate productivity. However, the management must improve other features including the competitiveness and friendliness of the work environment among other features in order to increase the effectiveness of such programs. References Greenhaus, J. H., Gerard A. C. & Veronica, M. G. (2010). Career Management. Thousand Oaks: Sage Publications, 2010. Print. Halbert, T. & Elaine, I. (2012). Law & Ethics in the Business Environment. Mason, OH:South Western Cengage Learning. Koontz, H., & Aryasri, A. R. (2004). Principles of management. New Delhi: Tata McGraw-Hill. Read More