Choka Enterprise Rewards System

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THE UNIVERSITY OF THE WEST INDIES
OPEN CAMPUS
MGMT3062 - Compensation Management - Semester 2
Student Name: Edditon Edmonson
Student Number: 308004287

Coursework Assignment

CHOKA Enterprise Rewards System

PROPOSAL:

OBJECTIVE
An effective reward system is organized to stimulate, inspire and motivate individuals to enhance their overall job performance. Our system is design to appeal and retain staff of the right quality with an understanding of the financial status of the organization. This reward system is design to boost the functions and core values of the organization that our employees will continue to with success.

FACTORS TO CONSIDER * Performance associated pay * Incentive * Job Evaluation *
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Three points if the job is of equal value 3. -------------------------------------------------
Two point if it close to the equal value 4. -------------------------------------------------
One point if there has two flaws 5. -------------------------------------------------
No point if it less valuable.
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The point that has been achieved for each job is counted using the categories of comparison to make an aggregate. The supervisors will organize the jobs in structured method according to the whole points that has been accumulated.
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THE REWARD SYSTEM CYCLE
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There two types of incentive system, short and long term incentives. The short term incentive would be appropriate for this type of job as it relates to the production cycle. The short term incentive is associated with jobs that have a specific time span of whether daily, weekly, fortnightly or monthly. For this organization, we focus our attention on the monthly incentive payment, being associated with the completion of the main objectives and standard of the job.
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