Tuesday, April 27, 2010

REWARD



Some time ago I was working in hospitality for well known company, which employed at about 120 people in one branch. That company rewards its performing employees and take care of appreciation at work. Employees can be awarded by:
· Promotion
· Flexible work schedules, people can take time for personal issues, such a doctor appointment
· Send a handwritten note to employee who deserve recognition
· Make work fun by organising festivals, barbecues, sport days or banqueting
· Created by managers annual idea called “One life” is rewarded by holiday abroad
· Free membership for gym
· Free life insurance
· Annual payment” Thank you” for making great profit , every employee can get between £70-£150
· Best employee have a chance to pick their own project or task with a colleague they like
Fairness and equity is regulated by work policy, which state that the company is not respecting any racism, harassment or bullying. Company is strongly focused on “Whistle blowing” policy.
There is no standardized list of the major functions and responsibilities carried out by position of Chief Executives. Chief Executives officer is the most important role in the management of an organisation. That is why in my opinion those people should be paid very well, but depends on their performance and gained profit. I feel that is unnecessary to pay chief executives at all times high bonuses. If the company doing well then they should be rewarded but if is a crisis, recession, less profit in the tax year or other problems the percentage of the bonuses should decrease, otherwise that could put the company into financial problems for example cost of expenses could be higher than income. I think that Chief Executives salary should be divided into few stages, such as:
· BASIC (monthly income ,which stay the same every month)
· BONUS (provision for example from monthly sales)
· REWARD (extra percentage from the annual profit)
COMPANIES THAT ARE SEEN AS PAYING BONUSES THAT BEAR LITTLE REFLECTION TO THE COMPANY’S PERFORMANCE MAY FIND THEMSELVES IN VERY HOT WATER. (INDEPENDENT, 2009)
There is many ways how primary school teacher could be rewarded, some of my ideas are as follows:
· FINANCIAL
- Give employee thirteen annual wages as a bonus to show the appreciation,
- Promote the teacher and give for example position of “Head of the year”
-Give a pay rise
· NON FINANCIAL
-Allow the teacher use free of charge school facilities, such a swimming pool or gym
-Celebrate their birthday and give on that day paid day off
-Give to the teacher free of charge voucher for a day or weekend is SPA
From the financial side thirteen wages and from the non financial free of charge use of swimming pool or gym will motivate me the most, simply because for the extra income I could buy a holiday abroad for my family. I do care about physical and mental health a lot I think that gym or swimming is good for keeping body and mind in shape all year long. That is why I have chosen these two rewards.
Employees motivation, recognition and reward is most important at work place, because will keep them positive and more successful. Many people these days struggle to balance their personal life with their working life’s, so offering time in lieu or flexible working hours as reward will not cost much, but can be a highly motivating and have substantial value for people.
REFERENCES:
· INDEPENDENT, 2009,Home, News, Business, Business news, Top executives pocket huge bonuses despite recession –online source
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(Accessed 27 April 2010)

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