HRM 500 Assignment 4
Recognizing Employee Contributions
Erica Warren
HRM500, Strayer University
Dr. Jeffrey Weaver
12/7/2014
Recognizing Employee Contributions
Employees deserve recognition for their hard work, creative ideas and commitment to the company. “Employee recognition is the timely, informal or formal acknowledgement of a person’s or teams behavior, effort or business result that supports the organization’s goals and values, and which has clearly been beyond normal expectations” (Wiley & Kowske, 2012). It is important to show employees your appreciation for their work so they can understand how they are valued by the company. The effect of this action helps to increase employee satisfaction and productivity. Rewarding employees for their dedication and work, shows that you care about them and not just what they can do for you.
Propose two methods an HR professional could use to determine incentive pay. Specify the principal manner in which the proposed methods take into consideration individual, group, and company performance. Justify your response.
The main goal of employee incentives is to motivate employees to achieve their highest performance possible. Human Resources must first determine the needs of the employees. Once those needs have been assess, then they must decide on an incentive plan that focuses on those particular needs. “Incentive plans must showcase what the potential may be if the purpose is fulfilled” (Kishore & Rao, 2013). For this particular company one method that could be used to determine incentive pay is by basing it on individual’s performance. First you would identify who your top performers may be. Human Resources should communicate with them and inform them of the incentive plan for performance bonuses based on sales for the quarter. Even though this is an individual based performance plan it can also be applied to groups within the organization. For example, the internet sales team of the company would participate in a
Erica Warren
HRM500, Strayer University
Dr. Jeffrey Weaver
12/7/2014
Recognizing Employee Contributions
Employees deserve recognition for their hard work, creative ideas and commitment to the company. “Employee recognition is the timely, informal or formal acknowledgement of a person’s or teams behavior, effort or business result that supports the organization’s goals and values, and which has clearly been beyond normal expectations” (Wiley & Kowske, 2012). It is important to show employees your appreciation for their work so they can understand how they are valued by the company. The effect of this action helps to increase employee satisfaction and productivity. Rewarding employees for their dedication and work, shows that you care about them and not just what they can do for you.
Propose two methods an HR professional could use to determine incentive pay. Specify the principal manner in which the proposed methods take into consideration individual, group, and company performance. Justify your response.
The main goal of employee incentives is to motivate employees to achieve their highest performance possible. Human Resources must first determine the needs of the employees. Once those needs have been assess, then they must decide on an incentive plan that focuses on those particular needs. “Incentive plans must showcase what the potential may be if the purpose is fulfilled” (Kishore & Rao, 2013). For this particular company one method that could be used to determine incentive pay is by basing it on individual’s performance. First you would identify who your top performers may be. Human Resources should communicate with them and inform them of the incentive plan for performance bonuses based on sales for the quarter. Even though this is an individual based performance plan it can also be applied to groups within the organization. For example, the internet sales team of the company would participate in a
References: Kelly, K. (2010). The Effects of Incentives on Information Exchange and Decision Quality in Groups. Behavioral Research In Accounting, 22(1), 43-65. doi:10.2308/bria.2010.22.1.43 Kishore, S., Rao, R. S., Narasimhan, O., & John, G. (2013). Bonuses Versus Commissions: A Field Study. Journal Of Marketing Research (JMR), 50(3), 317-333. doi:10.1509/jmr.11.0485 Kupritz, V. W., & Cowell, E. (2011). Productive Management Communication. Journal Of Business Communication, 48(1), 54-82. doi:10.1177/0021943610385656 Matkin, D. T. (2010). Designing Accountable and Effective Economic Development Tax Incentives. Public Performance & Management Review, 34(2), 166-188. doi:10.2753/PMR1530-9576340202 Wiley, J., & Kowske, B. (2012). Book highlight-The power of recognition. Global Business & Organizational Excellence, 32(1), 75-84. doi:10.1002/joe.21465 Yanadori, Y., & Cui, V. (2013). Creating incentives for innovation? The relationship between pay dispersion in R&D groups and firm innovation performance. Strategic Management Journal, 34(12), 1502-1511. doi:10.1002/smj.2071