Rewards System at Tcs

5880 WordsApr 21, 201324 Pages
REWARDS SYSTEM AT TCS INTRODUCTION * DESIGNING A REWARD PROGRAM The key characteristics of developing a reward program are as follows: Identification of company or group goals that the reward program will support. Identification of the desired employee performance or behaviors that will reinforce the company’s goals. Determination of key measurements of the performance or behavior, based on the individual or groups previous achievements. Determination of appropriate rewards. Communication of program to employees. Reward systems are concerned with two major issues: performance and rewards. Performance includes defining and evaluating performance and providing employees with feedback. Rewards include bonus, salary increases,…show more content…
Reward system is a part of performance appraisal. When an employee do performance appraisal he uses reward system to appreciate the work done by the employee. Every company has its own reward system which has to be linked with its performance appraisal method. Reward systems are concerned with two major issues: performance and rewards. Performance includes defining and evaluating performance and providing employees with feedback. Rewards include bonus, salary increases, promotions, stock awards, and perquisites. * TYPES OF REWARDS Besides verbal appreciation, tokens of appreciation, rewards (award trophies, framed certificates, special parking spaces, gift cards, pens or a free day off.) etc. are generally given to employees .When employers praise their employees’ performance it is a positive experience for both the manager and the employee. Appraisal enhances motivation, keeps employees goal-oriented and morale high. With high morale and a feeling of worth, employees will want to exceed in the workplace .Various categories of rewards that are given and can be given are: Basic Pay: Pay is an essential factor which is closely related to job satisfaction and motivation .Although pay may not be a reward as this is a static amount which an employee will be paid every month, it will be considered as a reward if similar worker is paid less. Additional Hours

More about Rewards System at Tcs

Open Document