Motivation, Reward and Recognition Systems - Essay Example

This paper focuses on recommending ways organizations can motivate their employees through recognition and reward systems.

Reward and recognition are increasingly becoming significant tools for management in an organization, whereby it attracts and retains different talents and develops the need to grow. Moreover, the implementation of an effective reward and recognition system is applied as a way of achieving maximum return for costs incurred in paying salaries and offering benefits to employees in the current economic conditions (Empey, Cushen, Byrne & Watson, 2010). Effective rewarding systems are required in all sizes of organizations, though the nature of the reward depends on the cost involved. Nonetheless, the effectiveness of the reward management system has a direct impact on the employees; thus, there should be no reduction in their costs or improvements.

Moreover, these systems are not supposed to have detrimental effects on the motivation of the employee and their commitment (Empey, Cushen, Byrne & Watson, 2010). On the other hand, organizations require innovative methods to develop effective reward and recognition systems that help them cope with changing needs and economic conditions.

Effective reward and recognition systems are meant to motivate employees by aligning their objectives with those of the company. Therefore, this system requires balancing employees’ compensation and acknowledgment of their good performance. This maximizes their competitiveness and acquiring a return on their expenditure of the organizations (Empey, Cushen, Byrne & Watson, 2010). The cost of reward and recognition practices is a significant consideration in determining the strategy to be applied in reflecting the need and requirements of employees in an organization. Organizations are expected to create awareness and facilitate acceptance of power associated with reward and recognition; in fact, this perception has been merely based on monetary value. Organizations are expected to develop a relationship between rewards and employees' behaviors in terms of performance.

Some employees have a significant interest in acquiring value through non-financial rewards such as experience in their career, which facilitates the development of skills, job security,y and building relationships (Empey, Cushen, Byrne & Watson, 2010). Therefore, they are rewarded by giving them complex assignments, and training, which contributes significantly to their success in the business.

In conclusion, this paper has explored ways through which organizations can improve their reward and recognition systems to motivate their employees. These recommendations are aimed at offering guidance to organizations on the way they can improve the reward and recognition functions based on their strategic roles in aligning employees and organization objectives. Read More