REWARDS & INCENTIVES

Employees wants incentives & rewards for the good performance especially good work done by them in the best interest of organization. These things are being used widely for improving the employees performance, keeping them motivated, job satisfaction and retention. There could be thousands of ways for rewards & incentives but two widely used techniques are:

TELLING ADVANCE
In this technique, the employees are being informed in advance that what kind of rewards they will get if they reach a certain goal either individually or on a team basis.

TELLING LATER
In this technique employees are not being informed about any benefit or recognition for any extra work or extra ordinary work performed. In this technique employees are being rewarded after the work done and this is the most commonly used technique being used by the employers these days. As explained above that employees are being rewarded after work done so thats why it is called surprise. Few examples are Say something! Gift certificate for a movie rental A box of Dairy Queen treats for the team Let the employee leave early on a Friday afternoon Let the employee arrive late on the day of his or her choice A plug-in parking spot near the door for a day or a week

IMPROVING PERFORMANCE (PROMOTE PERFORMANCE)

Foe speedy growth, increased profits and better market share in the market among your competitors, managing humans effectively is now an important aspect of all organizations. It is an important factor in employees career in order to improve in both aspects, the rank and pay band.

There could be many ways for it and few commonly used are: Employee Self Appraisal Goal based performance Rating of Skills & Competencies Employee Development Needs

Employee Self Appraisal

This is an easy way for employee to perform performance appraisal. An employee could list out his/her achievements out of the Job Role. Factors which helped my performance and his aspirations

Goal based performance

Keeping in view the companys strategies, goals & objectives an employee may have eight to ten SMART goals to be accomplished during the years & each goal carries a weight assigned to it by the manager for which he/she could be responsible to performance and produce the best outcomes.

Rating of Skills & Competencies

Job description may include the relevant skill sets and competencies relevant to each job position.

Employee Development Needs

Each employee could point out the needs to improve the performance his/her self in order to promote the performance and enhance the career or it could be pointed out by his/her manager i.e. workshops, seminars and conferences.

Employee Motivation
Motivated employees are needed in our rapidly changing workplaces. Motivated employees help organizations survive. Motivated employees are more productive. To be effective, managers need to understand what motivates employees within the context of the roles they perform. Of all the functions a manager performs, motivating employees is arguably the most complex (Smith, 1994). To get the things right and get the most out of employees work and to maximize the benefits out of salary being paid there is one thing which is known as EMPLOYEE MOTIVATION. Human nature can be very simple, yet very complex too. An understanding and appreciation of this is a prerequisite to effective employee motivation in the workplace and therefore effective management and leadership.

The motivational systems must be able to follow the organizations value and principles strictly and to produce the best within the virtual boundaries. When the employees are being involved in achieving the organizations goal, then the one thing comes out as an outcome is, MOTIVATION. There could be different theories, practices and researches but the most commonly used and widely accept is a theory and model presented by Maslow known as Maslows Hierarchy of needs. According to Maslow, employees have five levels of needs: (Maslow, 1943) Physiological, safety, social, ego, and self- actualizing. Maslow argued that lower level needs had to be satisfied before the next higher level need would motivate employees.

SOMETHING FROM PEERS

A study of employees, conducted by Kovach (1987), yielded the following ranked order of motivational factors: (a) interesting work, (b) full appreciation of work done, and (c) feeling of being in on things. Another study of employees, conducted by Harpaz (1990), yielded the following ranked order of motivational factors: (a) interesting work, (b) good wages, and (c) job security. And the interesting work was being rated at the top for motivation.

JOB SATISFACTION
Through the proper channel, recruiting the RIGHT person with RIGHT qualification at a RIGHT place is something that really matters. Job satisfaction can only be gained by proper performance and analysis which also includes employee motivation with the right sets of recognition, incentives & rewards. Job satisfaction plays an important role in employee retention. Employee retention refers to the term which illustrates that If employees are happy and they are being motivated then there are very less chances that employees will leave the organizations and to keep your loyal employees happy and motivated you need to offer them with different kinds of rewards and other offers A very simple but a comprehensive diagram is being attached

REWARD AND RECOGINATION STRATEGIES

Rewards and recognition are one of the most important and successful way for the development, motivation and retention of employee. Rewards and recognition strategies are very important and useful in order to get the maximum output from employees performance but that must be set in a way that in order to get them employees have to put their best efforts which becomes even more fruitful for the organization. These strategies must be for the employees of all levels. These benefits are usually known as fringe benefits, & the employer offers these to the employee. The term fringe benefits are as follows paid vacation, pension, health insurance plan etc. There are five categories of services and benefits under the term fringe benefits.

There are five categories of services and benefits under the term fringe benefits. Legally Required Payments: - Old age pension, survivor benefits, disability pension and payments made under the Workmens Compensation Act. PENSION AND GROUP INSURANCE: PAID REST PERIODS, WASTE-UP TIME PAYMENT FOR TIME NOT WORKED FESTIVAL BONUS BASIC SALARY AND INCREASE IN THE PAY (The importance of job description and qualifications in defining them) An employees pay could make up of several elements which include allowances, transportation, accommodation, medical facility and leave facility etc. But the most important and the major thing is BASIC SALARY. An employee could be hired at lower pay when he/she starts and that pay could be increased after his/her prohibition period which may be defined in JD. But there are very less chances to increase the basic salary. An increase in salary could be a result in increase of other allowances and benefits.

Importance of Job Description and qualification in defining them; A job Description is an integral and primary function of recruiting the employees. The job description includes The desired qualification The required experience The desired skill sets The last date for applying And, any other useful information

The job description must be written after the need arise to