Transcript
Page 1: REWARD TO MOTIVATE EMPLOYEES

WELCOME

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GROUP MEMBERS

• Rezwan Ahmed

• Tasnia Towhid

• Maidah Karim Disha

• Neel Kanto Das Shuvra

• Hijbullah Patwary

• Md. Monirujjaman

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REWARD TO MOTIVATE

EMPLOYEES

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INTRODUCTION

Why do we need to motivate?

Why do we need to reward?

Relation with major job attitude

Job satisfaction

Job involvement

Organizational commitment

Relation with biographical

characteristics

Turn over rate

Absenteeism

Productivity

Job satisfaction

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PAY PROGRAMMES

• Piece Rate Pay

• Merit Based Pay

• Skill Based Pay

• Profit sharing Plans

• Gainsharing

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PIECE RATE PAY

• Employees are paid only for what they

produce.

• No base salary.

• A fixed pay element and time period for

each unit.

• The more a employee can produce, the

more he can earn.

Example :-

An employee works at samsung company.

He produces 500 phones in 40 hours per

week. For each phone he is paid $2.00. so

for total 500 phones he will be paid

(500x2)=$1000.

If another employee works 10 hours extra

overtime and produces 100 extra phones

then he will get extra payment for his

overtime along with $1000.

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RELATED THEOREM

• We can relate pay rate plan with Reinforcement Theory.

Nature of reinforcement:- reward given at fixed amounts of output.

Effect on behavior:- high and stable performance attained quickly.

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MERIT BASED PAY

• Based on performance appraisal ratings

• Employees put maximum effort for best

performance

Expectancy Theory:

• Employees motivated to high level of effort

• Lead to good performance

• Organizational rewards and satisfy

personal goals

Limitations:

• Based on annual performance

• Pay raise pool fluctuates based on

economic condition

Examples:

• IBM

• Milken Family Foundation

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Skill based pay

Advantages

• Increases flexibility of

workforce.

• Facilitates communication.

• Increases productivity.

Disadvantages

• Don’t address level of

performance.

• Can frustrate employees.

Related theorem

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PROFIT BASED PLANS

ADVANTAGE

• Motivates employees to increase

performance

• Employees can earn more if

organizations profit increases

DISADVANTAGE

• Demotivates those employees that

do not get the share

• Can lessen employees performance

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GAINSHARING

ADVANTAGES

• Payouts are self-funded from savings generated by

the plan

• Promotes morale, pride, and more positive attitudes

toward the organization

• Helps companies achieve sustained improvement

in key performance measures

• Rewards only performance improvement

• Enhances employee focus and awareness

DISADVANTAGES

• Requires a participative management style

• Requires that management openly shares information

related to performance measures

• Measures are narrower than organization-wide profit

and therefore gains may be paid even though profits

may be down.

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THANK YOU


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