Rewards and Performance Management

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REWARDS AND PERFORMANCE MANAGEMENT

Employee rewards are carefully crafted by resource managers with an aim of either motivating employees or simply as compensation measure for work done . How well crafted a reward system is goes along way in enforcing values and believes of any given organization . In my organization rewards are administered through a number of strategies depending on the location . For instance , the reward strategy adapted in Dubai differs significantly from that practiced in Qatar . Evidently the organizational culture in my

organization is uniform although different cultures as determined by different geographical locations play a significant role in determining the choice of reward strategy my organization adapts in any given location

What defines a reward system in my organization is mainly , the policies processes , practices as well as structures laid out for rewarding employees and these are job groups , fringe benefits and allowances as well as training programs lined up for successful employees . As Armstrong (2002 ) demonstrates , rewards are very much dependant on employees ' contribution to the firm although the level of qualifications in terms of experience and academic achievement plays an important role Traditionally , many have tended to look at rewards from a monetary perspective . This is not right considering the fact that different employees join different organizations for varied reasons . For instance , while there are those who particularly work in to gain money , there are a few who work just because they love to work

In other cases , there are some whose motivation for working is solely to be associated with the company they work for . In the construction industry , rewards system very much depend on the budget allocations for different projects considering the fact that budgets differ from the size of the project at hand . My organization appraises workers and the main method of reward is Pay Performance Strategy . However , there have been attempts in the recent past by the management to de-emphasize this approach and concentrate on the new approach where other means of motivating employees such as promotions and awarding of fringe benefits is given prominence

Usually , a reward system can be said to be effective if it meets the following criteria one if the reward system is competitive , secondly if the reward system is equitable and thirdly , if the reward system is able to achieve its aims and goals . Again in my organization , the reward strategy is designed to achieve the above-mentioned criteria as parallels are often drawn in the industry in to ensure that what employees in my organization are compensated is at par with what the competitors offer . This is mainly aimed at ensuring that employee `poaching ' does not take place and the organization retains its most valuable resource that is , its staff

A well-crafted reward system serves to improve performance , to meet the needs of the employees , to motivate staff as well as to uphold the organizational culture . In my organization , the reward system and especially the organization 's performance appraisal system is...