Learn how to use rewards and profit-sharing schemes in business to motivate employees to function better and produce results in the performance of their duties. Balanced Scorecard Toolkit by AKS-Labs :: Managing Human Resource Lifecycle
Every business practices a kind of motivation scheme or program in order to motivate employees. Motivated employees produce excellent job results and help the company create a masterpiece, or achieve business target with flying colors. In fact, motivated employees need less supervision and usually go the extra mile just to get things done because of an expectation of a reward after a job has been accomplished. This is more of a classical conditioning pattern where subjects may respond positively or negatively to verbal or visual cues depending on the result associated with such cues.
Making a reward system is easy; but making it become effective, to look fair to everybody, and inviting as well, is difficult. Below are just some of the simple rules to follow to making your reward system work for you and become an instant success for your entire organization.
Make It Clear. Participants should be made aware of the established rules and action plans associated with your reward system. This means that your subordinates should understand that only people who display exceptional performance and outstanding personal best principle should be given proper recognition. Those who meet all the standards set by the committee who handles the reward system are acknowledged in time.
Creating a Culture of Excellence and Supportive Environment. While we cannot deny the fact that not everybody can become number 1 and that there will always be number 2, you can change the tide of performance criteria to match those of other employees that usually do not excel in certain areas. Variation to your standard reward system should come along with the flexibility of the program itself. At this point, it is very important to note that everything should be laid out in the rules you have created and should allow any motivation, as deemed necessary by the author/s.
Be Creative. Although money seems to be the least tedious reward for employees who exceed the company’s expectations, the system can be modified in a way that gaining such reward can become varied and quite challenging if in case money cannot be avoided. On the other hand, rewards as big as vacations on cruises for two, or as simple as movie ticket treats will also be enjoyable if you know how to play with the system, and modify it in a way that is exciting and appealing to the shared culture of the group or organization.
Personalize Reward. The old adage has it; “money can’t buy everything” is always true. Money can be a prime motivator, but if used in a daily basis and shared indiscriminately, it can then become an expectation more than a reward. Sharing a few moments with your employees can sometimes prove to be a top motivating factor even when monetary rewards are absent. Your involvement may communicate that you care about what they do and you are directly concerned with the result of the actions that they may do in the future. By giving personal touches to conferring intangible and tangible rewards, one will be able to explore profit sharing strategies that would help motivate employees and come up with various reward system that your organization will surely enjoy.
Balanced Scorecard Toolkit by AKS-Labs :: Managing Human Resource Lifecycle