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Rewarding Employees

Rewarding Employees. Motivation. The willingness to exert a persistent and high level of effort toward organizational goals, conditioned by the effort’s ability to satisfy some individual need What will motivate you to do well in your internship?. Purpose of Rewards System.

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Rewarding Employees

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  1. Rewarding Employees

  2. Motivation • The willingness to exert a persistent and high level of effort toward organizational goals, conditioned by the effort’s ability to satisfy some individual need • What will motivate you to do well in your internship?

  3. Purpose of Rewards System • Attracting & retaining good employees • What will make you stay with a company? • Reducing absenteeism • Link rewards to attendance systems • Agree??? Disagree??? • Motivating to enhance performance

  4. Purpose of Rewards System • Developing employee skills • Tie recognition to skill building • Paid master’s • Travel $$, • EE investment

  5. Types of rewards • Intrinsic vs. extrinsic • Monetary vs non-monetary • Performance based vs membership based • Formal vs informal

  6. Types of Rewards • Intrinsic • Engagement in a behavior for its own sake without external incentives • Leads to personal satisfaction • Extrinsic • Engagement in a behavior is done for external incentives • Examples of each??

  7. Types of Rewards • Intrinsic • Environment of teamwork & collaboration • Meaningful work/challenges • Positive reinforcements • Mentoring ee’s • Autonomy to try new ideas • Decision making authority • Fun work environment • Extrinsic • $$ • Co. car • Others??

  8. Types of Rewards • Monetary • Salaries • Bonus • Stock options • Healthcare • Tuition reimbursement • Professional development • Professional involvement • Non-monetary • Office furnishing • Parking space • Laptop/tools for job • Title • Exec restrooms • Corner office

  9. Types of Rewards • Performance Based • Linked directly to performance & ability • Merit pay • Bonus • Membership Based • Indiv. Membership to a group • Cost of living based on % of salary • Seniority based increases • Education based increases • Base salaries for specific job classes

  10. Job design as reward • Job rotation • Builds skills • Variety & novelty • Agency flexibility

  11. Job design as reward • Flexible scheduling • Shorter work week ( 4, 10’s) • Staggered daily schedule (8-4, 9-5, 10-6) • Flextime • Set core hours (ie. 10 a.m. – 4:00p.m.) with other floating hours • Work from home • Good & bad • Should P & R use it?

  12. Job design as reward • Job enrichment • New learning opportunities • Conferences, workshops, certification • Increased responsibility • Control over resources • ie, budget, staff, interns • Variety/variability

  13. Herzberg’s Two Factor Theory Context of the work Content of the work

  14. Maslow’s Hierarchy of Needs

  15. Value of Intrinsic & Extrinsic rewards • The more of an ER received, the lower the value • Salary • Bonuses • Higher value placed on reward when reward & performance are directly linked High Intrinsic Rewards Value of Rewards Extrinsic Rewards Low Less Frequency of Rewards More

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