Job rotation reward and recognition
- 1. Job Rotation Reward and Recognition Reward Recognition are consider as most powerful tools which are used by organisation to motivate employees. Rewards and recognition are remuneration based system, which includes bonus, perks, allowances and certificates
- 2. Types of Remuneration Method Often people are under the impression that companies only offer remuneration based system and does not recognize the employees performance. In an organisation, you will find following system in place to boost motivation in addition to the regular compensation. 1. Remuneration pay 2. Non financials benefits 3. Share options.
- 3. Methods of Rewards Following are the methods of rewards that can be found in modern business organisations. although not all these rewards methods are used bye the same company. The company can adopt the best reward method that suit the company culture and other company goals. As an example, some companies do like to give all the benefits to the employees as financials, other company like giving the employees the other benefits such as insurance, better working, environment etc.
- 4. Basic Pay Pay is an essential factor, which is closely related to job satisfaction and motivation. Although pay may not be reward as this is the static amount, which an employee will be paid every month, it will be considered as an reward if similar work is paid less.
- 5. Additional Hour’s Rewards This is similar to that of overtime. However, it is paid to employees if they put in an extra hour of work for working at unsocial hours or for working long hours on top of overtime hours.
- 6. Commission Many organizations pay commission to sales staff based on the sales that they have generated. The commission is based on the number of successful sales and the total business revenue that they have made. This is a popular method of incentive.
- 7. Bonuses Bonuses will be paid to employees, who meet their targets and objectives. This is aimed at employees to improve their performance and to work harder.
- 8. Performance Related Pay This is typically paid to employees, who have met or exceeded their targets and objectives. This method of reward can be measured at either team or department level
- 9. Profits Related Pay Profits related pay is associated with if an organization is incurring a profit situation. If the organization is getting more than the expected profits, then employees receive an additional amount of money that has been defined as a variable component of the salary.
- 10. Recognition Employees will not always be motivated by monetary value alone. They do require recognition to be motivated and to perform well in their work.
- 11. Job Enrichment This is a common type of recognition that is aimed at employees to get motivated. Job enrichment allows more challenging tasks to be included in the day-to-day tasks performed by the employee. Working the same way everyday may prove to be monotonous to the employees. Therefore, there will be a lack of interest and the performance drops.
- 12. Job Rotation Unlike job enrichment, job rotation refers to shifting employees between different functions. This will give them more experience and a sense of achievement.
- 13. Teamwork Teamwork is also considered as recognition. Creating teamwork between team members will improve performance at work. Social relationships at work are essential for any organization. Healthy social relationships are considered as recognition to the employees. This improves their morale and performance.
- 14. THANK YOU