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Service Management: Operations, Strategy, and Information Technology7th EditionJames Fitzsimmons, Mona Fitzsimmons 103 solutions What is the role of an organization reward system?A good reward system aims to motivate employees to work harder, and align their goals with those of the organisation they work for. The current trend towards performance-related reward systems is designed to lead to greater rewards and motivation for those who contribute the most.
What is the role of organizational reward systems in motivation?Comprehensive reward system is an important tool which the management can use to channel employee motivation in desired ways. In other words, reward systems seek to attract people to join the organization, to keep them coming to work, and motivate them to perform to high levels.
What should be the goal of reward systems?The main goal behind rewards is to give employees tangible reasons to continue to improve their performance and help the company grow. Here are a few things to keep in mind as you design your reward system: Get employees involved.
What are some organizational rewards?Examples of rewards that are this category usually include:. Bonus. A bonus is a financial incentive that employees receive in addition to their set salary or wages. ... . Profit-sharing. ... . Stock options. ... . Merit pay. ... . Fringe benefits. ... . Public recognition. ... . Paid leaves. ... . Professional development training.. |