Designing a reward System

Decent Essays
Anonymous September 28th 2014 HSM/220 Designing a Reward System The success of a company is solely determined by the work of its employees. Employee productivity is the number one contributing factor to the success of a business. It is important for companies, and agencies to make sure their employees are performing to the best of their abilities. With that said employers must find effective ways to motivate and engage their employees. The company must keep their goals in mind. The must make sure that quality is still a priority and not second to productivity. There are steps to be considered when designing and implementing a reward system. The…show more content…
My ideal reward system would offer both recognition and compensation. All employees would be able to participate. The reward would be given based on performance and would be given once a month. I would hold a gathering or make a public acknowledgement of top performs. In this meeting will would discuss the goals met and the employee’s that met them. I would allow employees to share with their peers what strategies they used to meet the goal. I would give them a certificate acknowledging their performance. I would set up a way for them to draw mystery prize different goal levels. The prices given would need to resemble needs gathered from employees. Prizes would range from a day at a spa to a day with paid time off, cash prices, ranging from small to larger amounts and concert tickets or other goods. I would also make it known that consistent performances would be considered during performance evolutions and raises. It is important for a reward performance. In order to track performance I would use a point system. Points would be given for accuracy, productivity and processing time. I would set a standard number of points per day. For instance you should be achieving 24 points a day. I would set margins for excellence; if you exceed goals by 10 points more a day. You would qualify for prizes in certain range. If you exceeded by more than 10 this would bring you to another prize range. “Benefits of a point system; Rewarding employees
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