How do I respond to this in 100 words? Rewards are considered a vital key in creating employee devotion to increase performance and consistency (Bose & Maheshwary, 2019). When it comes to rewarding employees for their hard work, Plant Manager Henry Simms has various options available. When trying to motivate employees, they are often offered rewards such as additions to base pay, retirement contributions, commissions, profit sharing, cash bonuses, and meals (Employee, 2021). Employers generally focus on maintaining operating costs for better economic gains, so providing additional monetary rewards can conflict with the firm's goals (Holley et al., 2017). Employees report that they prefer to receive rewards based on individual performance, such as an increase in base pay compared to single lump sums or incentive pay (Holley et al., 2017). Looking at the company budget for employee rewards would ultimately determine how they can be handled. I would recommend offering a lunch to both the temporary and full-time employees to reward its success. Since employees prefer individualized rewards, I would take the rest of the reward budget left over to go toward cash bonuses for the full-time employees who contributed to the project. While employees would rather have base pay increases, it could cost the company more overall to increase everyone’s pay, so bonuses may likely work better.
How do I respond to this in 100 words?
Rewards are considered a vital key in creating employee devotion to increase performance and consistency (Bose & Maheshwary, 2019). When it comes to rewarding employees for their hard work, Plant Manager Henry Simms has various options available. When trying to motivate employees, they are often offered rewards such as additions to base pay, retirement contributions, commissions, profit sharing, cash bonuses, and meals (Employee, 2021). Employers generally focus on maintaining operating costs for better economic gains, so providing additional monetary rewards can conflict with the firm's goals (Holley et al., 2017). Employees report that they prefer to receive rewards based on individual performance, such as an increase in base pay compared to single lump sums or incentive pay (Holley et al., 2017). Looking at the company budget for employee rewards would ultimately determine how they can be handled. I would recommend offering a lunch to both the temporary and full-time employees to reward its success. Since employees prefer individualized rewards, I would take the rest of the reward budget left over to go toward cash bonuses for the full-time employees who contributed to the project. While employees would rather have base pay increases, it could cost the company more overall to increase everyone’s pay, so bonuses may likely work better.
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