Aflac Inc. – Reward and Performance Practices

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Aflac Inc. – Reward and Performance Practices

Abstract
Through rewards and recognition programs, organizations seek to find ways to motivate their employees with hopes of receiving better job performance, better job satisfaction, and lower job turnover. Aflac has developed a corporate culture that has been devoted to keeping its employees well cared for on an ongoing basis. With more than 4500 employees in the US, Aflac have consistently been recognized as one of the best and most ethical companies to work for in corporate America. Aflac’s reward structure is considered a performance base structure that focuses on recognizing and rewarding their employees. Rewards are given based off of individual performances, team
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AFLAC believes in always motivating its employees to achieve their goals on a daily, weekly, and monthly basis. Pat Patterson, manager of employee communication for AFLAC, states that,” It’s continuing and ongoing. Employees have to know that daily, not just once a year that we think they’re significant. It wouldn’t be worth anything if once a year were the only time .”
Monetary Rewards
Research shows that monetary reward programs play a big part in attracting and retaining top-performing employees . Items such as base salary, short and long-term incentives, health, welfare, and retirement benefits are all items that AFLAC offers its employees. In addition to these, there are also several incentive awards and contest available to AFLAC employees that offer monetary rewards based off of performance. However, AFLAC also offers monetary rewards based off of service. For example, AFLAC Way Honors is a recognition program that is tied to the company’s 15 basics of customer service . This is a program where colleagues are encouraged to nominate other colleagues based off of that colleagues use and understanding of the 15 basics of customer service. Mangers approve and set the award value in point which can be redeemed for merchandise.
Another program known as, The Spot Award, allows managers the opportunity to reward employees who they see extending him or herself beyond the normal concerning helping a customer or colleague. The Spot Award along with a pair of

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