Employees need feedback on poor performance so they are able to improve from a productivity standpoint. Without critical evaluation, most people would not be afforded any opportunity to improve. Many times an employee is not aware they are performing poorly, and need assistance identifying potential areas for growth and learning.
Several different employees should be included when collecting 360 degree feedback. At minimum 1-2 co-workers should be asked to provide feedback. In addition, superiors or managers that work with the employee, but do not directly supervise the employee should be asked for feedback. Anyone that the employees work directly affects are also candidates for 360 feedback.
The most important rewards are a sense of accomplishment and contribution. For me understanding that I have made an impact on the organization is essential.
Continuous reinforcement may be impossible in a large corporate setting where there are hundreds of employees to oversea. The job of a good manager should be to reward employees for a job well done, but also to infuse them with enough self-confidence and motivation so that they do not require continual reinforcement.
5. Individuals will be satisfied with the rewards they receive if the rewards are somehow tied to their motivations. If an employee is motivated by achievement for example, than a promotion is an adequate reward for a job well done.
6. Perhaps the biggest obstacle a merit pay plan elicits is a subjective opinion. Good work in one persons mind may not be as good in another. The best way to overcome this obstacle is to ensure that the employee and manager set up measurable performance goals that can be used to calculate merit awards.
7. In any of the tree approaches, subjectivity and objectivity are issues to be considered and overcome. The best way to administer any type of reward program is by establishing well defined and measurable goals that eliminate the possibility of excessive subjectivity. Team awards can be very beneficial for encouraging a team to excel to the greatest level possible. The obstacle in this case would be encouraging each team member to perform at an equal level. What motivates one person does not necessarily motivate others, thus finding balance is important in this regard.
8. In today's global marketplace, team efforts are more important than ever. A team environment encourages knowledge sharing. Thus organizations are attempting to award team efforts.
9. Other innovative approaches may include allowing employees to set their own rewards for particular goals achieved. The only obstacle here would be limiting the dollar value or ensuring the company is able to provide an appropriate award.
10. Goal sharing is suitable in a team oriented work place where members must depend on each other to produce a final product. This is most evidenced in a classroom, assembly or manufacturing environment. Goal setting can be used to help a group achieve the objectives of a larger organization as a whole.
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