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Performance & reward mgt - Essay Example

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Mostly, employees tend to think of rewards in terms of performance based management and motivation objectives. However, the use of incentives, flattery, a hierarchical performance system, and other methods do not…
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REWARD There are various employee rewards that are not monetary. Mostly, employees tend to think of rewards in terms of performance based management and motivation objectives. However, the use of incentives, flattery, a hierarchical performance system, and other methods do not involve bonus pay, and they also motivate employees. Employee rewards can be psychological as well as monetary, especially in organizations where there is open and frequent communication between employees and management. “They are therefore more democratic: communication may be participative to the point at which either subordinates or superiors control the communication” (Munter, 1993). The employee will respond to being treated with respect and courtesy by management, and improve performance.
Performance-based rewards can also help motivation levels, as well as attention being paid to the human needs of the employee. This is why employee motivation should be approached as a continuing process rather than a series of isolated events. Specifically, the manager of employees wanting greater levels of motivation can use theories to develop several strategies to encourage an atmosphere of communication, teamwork, and fulfillment in the workplace that will result in this ultimate goal. This boosts human needs categories of self-esteem and social need fulfillment, and also encourages multiculturalism and diversity in the workplace. Using this method, employers can foster an atmosphere of friendly competition where leadership and hard work are shown to have psychological rewards.
REFERENCE
Munter, M (1993). Communication for managers. Business Horizons. Read More
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