Motivation, Rewards Systems and Employeee Performance - Term Paper Example

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Name Instructor Course Date Motivation, Rewards Systems and Employee Performance The corporate world is always engaged in stiff competition, and the overall performance is associated to many factors which human effort being the primary factor input. It is important to note that the overall performance of employees in any company is fueled by incentives which are a constituent of motivation…
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Motivation, Rewards Systems and Employeee Performance
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Download file to see previous pages There is a strong relationship that exists between motivation, performance and reward systems in any social set up and the business organizations in specific. The reward system influences the behavior of the workers through motivation which in turn influences their effort and personal drive towards performing their duty with the goal of boosting the organizational output (Klarsfeld 170). With the current globalization pressure, the social, economic and political structure of the society has been redefined and the reward systems that were used long time ago are facing irrelevance hence need of reforms. Whereas most firms attached a lot of importance on quantifiable rewards with negligible concern on qualitative aspects, the current situation champions for quality as the greatest motivational aspect of individual performance. Taking the case of IKEA Company which is the leading furniture retail chain in the world that designs and sells ready-to-assemble furniture, appliances, and home accessories the concept of reward can be explored in depths. From the data available on the global corporate performance records, the company was the world's largest furniture retailer as of January 2008. This is one of the firms that have reaped from sound human resource management and sets the pace for its competitors as far as employee reward is concerned. IKEA is one of the multinationals that give much attention to the individual input of each employee by offering incentives that motivate the overall performance of its workforce. While several companies in the same industry still rely solely on salary as the only motivational factor, IKEA has gone a notch higher and adopted non-monetary incentives that mean a lot to employees, and this explains its continued excellence in the industry (Klarsfeld 174). Reward system works better in improving the overall effort of employees in their contribution in value creation in firm, and IKEA seems to have realized this concept from the word go making it clinch the first position ahead of the park. It longstanding overall performing standing is basically tied to the quality of its services and good public image it has. It employs for attitude and trains for skill, and this is one factor that has boosted the exemplary performance and an unmatched competitiveness in the industry and the corporate world at large. Rewards compensate for additional sacrifice of efforts towards attaining specific goals and when it comes to the mission of IKEA, satisfaction of the customer takes central concern and forms the basis of the team’s goals. To achieve this dream, the management realized that motivating the workers through incentives and other modes of rewards significantly boosts their efficiency which translates to aggregate firm performance. Since it deals in decorative items with much focus on art and beauty, IKEA relies on human capital and real commitment from its employees and this can only be realized through motivating them to deliver up to the standard. IKEA has adopted diverse reward systems in its management policies that suit various needs of different employees within its workforce. These rewards take into account age factor, ...Download file to see next pagesRead More
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