Management Control Systems: Rewards Systems

Give contests to the workers between each other and give points to the workers for whatever good things they have done and also must deduct points when they do not do well suppose for example when a worker keep absenting themselves must deduct points for every absence so the staffs will turn up every day and they will be motivated to turn up for work for everyday and put in such a way that that the staff who earns the most points will get rewarded with the most bonus and that will motivate the staffs to do good

Pay and reward systems exist in the form of pay, bonuses and benefits, financial and non-financial and designed to improve performance, increase motivation, staff retention and increase profitability. Appreciation and gratitude is widely received as reward and the opportunity for training and development for career progression.

The sales department is the heart of every company. A company depends on the sales of their products. The success of the sales department is imperative to the continued growth of a company. In order for a sales department to experience success, the company must find new ways to motivate the employees on a continuous basis. An excellent way to motivate the employees is to provide incentive programs or total rewards programs. These incentive programs

Pay and Rewards – pay and rewards attract, motivate and retain staff. The employment contract which lists rewards, whether it be pay, bonus or benefits, can remove animosity amongst employees and employers. However, recent research reveals that employees are no longer motivated by a financial reward alone, but

The key components to developing effective Reward Strategy is to ensure that there are clearly defined goals to meet business objectives, that the reward programme meets the needs of both the organisation and its employees, and to ensure that this is then supported by effective HR policies. In order to ensure these criteria are met there are a number of factors which influence how reward strategy is developed which include both internal factors within the organisation itself, as well as external factors outside the organisation.

The relationship between motivation and performance management is important as they work simultaneously with each other. Motivation is the key to an individual's degree of willingness to exert and maintain their efforts towards the organisational goals. Motivation levels are likely to have an effect on performance. If an individual has high motivation, it is likely to increase their performance. However this may not always be the case. Motivation is about the factors, which links into how organisation uses performance management to get better results from their staff by strategically encouraging the performance within its business. If employees are highly motivated they will perform better, and will co-operate collectively to improve the standards which would lead to a sense of achievement creating greater motivation.

A motivated workforce can be a significant success when employees are motivated to work at a higher levels of productivity. Also this means the whole organization is more effective at reaching it’s goals. Rewards can be a positive outcome when it comes to boosting your organizations self-confidence and higher employee satisfaction. Having a reward system can always be a good outcomes because this shows how much your workers are willing to work to achieving a goal in order to receive something in return. This not only gets things done but brings out another side of your organizations as a whole.

The main purpose of reward within a performance management system are to retain, motivate employees and reduce turnover.

The six features of an effective total rewards program include: focusing on alignment, taking the employees views into account, measuring / managing costs, the greater use of incentive based pay, having effective communication / education and managing the reward program. The combination of these factors is helping firms to more efficiently monitor the sales force.

Reward Management (RM) has been defined as the distribution of monetary and non-monetary rewards to employees in an effort to align the interests of the employees, the organisation, and its shareholders (O’Neil, 1998). In addition O’Neil (1998) also suggests that a RM system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees, ensuring legal requirements relating to direct and indirect rewards are not violated, assisting the company in achieving human resource and business objectives, and ultimately assisting the organisation in obtaining a competitive advantage.

Extrinsic rewards could be a bonus, a raise in pay, gift certificate, free merchandise from fellow organizations.

“While Mangers complain about lack of motivation in their workers, they might as well consider the possibility that the reward systems they’ve installed are paying off for the opposite”.

Reward and recognition programs must connect the needs and expectations of the workforce with the company’s overall goals and strategies. A program that reinforces important company values and goals will encourage employees to act in line with such goals and emphasize the importance of achieving these goals. Alternatively, rewards which do not connect with organizational goals may convey a misleading message and encourage employees to act in a manner that does not facilitate the

On the other hand, another control system the organization is their rewarding strategy; as they link their performance and abilities to meet goals and targets to pay raise and promotion.

Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to