Organization’s reward system

Author a script (1200-1500 words) that covers the following information and the recommended slide allocation. Submit your script plus the link to your presentation. Refer to the supporting resources section below for information on how to record your script and share your link/upload your presentation.

  1. In most organisations, group and individual reward systems are required. The choice between individual and group rewards depends (to an extent) on the interdependencies that exist within the organisation. (2 slides – maximum of 4 minutes)
    1. Select one of the reward system propositions below.
    2. Justify recommendations for your chosen proposition and how that would satisfy these interdependencies and be implemented in your organisation.
Proposition 1 The organisation’s reward system directly aims to motivate individual employee performance to be consistent with current organisational strategy. This means that employees and managers are individually rewarded through a rewards scheme that recognises individual performance and accountability. Examples: meeting individual sales targets (growth strategy), reducing machine idle time (cost control strategy), reducing customer complaints (quality control strategy).
Proposition 2 The organisation’s reward system aims to motivate employees to share and strive towards the organisation’s vision and mission (sometimes referred to as values and beliefs).  In this proposition, all employees and managers benefit collectively by introducing a bonus or dividends scheme that is based on the overall share price (if a listed company), revenue or net profit of the organisation. Examples: A lump sum of $2,000 for the year to each employee, a one-time bonus payment or dividend of 2% of their salary to all employees.
  1. Deliberate on the strategy of providing incentives only to the senior leadership team. (2 slides – maximum of 2 minutes)Click Here to Place your order and Get 100% original paper on any topic done for Your
  2. Identify and justify the potential human behavioural issues that the organisation might face for providing incentives only to senior leadership. (2 slides – maximum of 2 minutes)
  3. Argue why a total rewards strategy may assist your chosen organisation in improving performance.  (2 slides – maximum of 2 minutes).

 

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