ppt slides of coca-cola's reward system in relation to performance

7/24/2019 PPT Slides of Coca-Cola's Reward System In Relation To Performance

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Reward System In Relation

With Performance

Presented By: Presented To:

Wajid Ali 3335 Ms. Sana Chatha

Nabita Ishtiaq 3353

Rana Tassadaq 3316

Company:

COCA COLA


2/21

REWARD MANAGEMENT ???

Concerned with the or!"lation and i!#le!entation ostrate$ies and #olicies.

The #"r#oses are to reward #eo#le airl%& eq"itabl% andconsistentl% in accordance with their 'al"e to theor$ani(ation.

To hel# the or$ani(ation to achie'e its strate$ic $oals.

)eals with the desi$n& i!#le!entation and !aintenanceo reward s%ste!s i.e.& reward #rocesses& #ractices and#roced"res.


3/21

OBJC!I"S O# RWAR$

%A&A'%&!

*nco"ra$in$ and attractin$ q"aliied and co!#etente!#lo%ees to retain in the or$ani(ation.

It is desi$ned and !ana$ed or i!#ro'in$ #rod"cti'it%.

Controllin$ labor costs thro"$h !oti'ation.

Reward s%ste! sho"ld co!#l% with #a% le$islation.

+,ratton - old 1/// & #.1/0


4/21

!(PS O# RWAR$S

1) Intrinsic Rewards:

)Internal to indi'id"al and nor!all% deri'e ro!in'ol'e!ent in certain acti'ities or tas2s.

)Incl"des achie'e!ents& eelin$s o acco!#lish!ent&inor!al reco$nition& job satisaction& #ersonal $rowthand stat"s.


5/21

CO&!)$

2) Extrinsic Rewards:

)irectl% controlled and distrib"ted b% the or$ani(ation.

More tan$ible than intrinsic.

Rewards it incl"des or!al reco$nition& incenti'esbeneits& #a% #ro!otion social relationshi# and wor2

en'iron!ent.


6/21

AL!R&A!I"S !O RWAR$

%A&A'%&!

a% or 2nowled$e s%ste!

ro"# incenti'e $ain sharin$ #lan

roit sharin$

Cost sa'in$

Caeteria st%le beneits


7/21

CRI!RIA O# RWAR$

%A&A'%&! C"sto!er satisaction

Wor2 q"alit%

roble! sol'in$

Wor2 q"antit%

Settin$ and achie'in$ objecti'es

I!#ro'in$ wor2 #rocesses

Attendances

Acq"irin$ new s2ills


8/21

RLA!I&' RWAR$S !O

PR#OR%A&C

4nort"natel% !an% or!al rewards #ro'ided b%or$ani(ations can not be connected to #eror!ance.

Rewards incl"din$ #aid 'acations& ins"rance #lans& and#aid holida%s& are al!ost alwa%s deter!ined b%or$ani(ational !e!bershi# and seniorit% rather than b%#eror!ance.

ther rewards& s"ch as #ro!otion can and sho"ld be

related to #eror!ance.

The #ri!ar% or$ani(ational 'ariable "sed to rewarde!#lo%ees and reinorce #eror!ance is #a%.


9/21

CO&!)$

Relatin$ rewards to #eror!ance de!ands that#eror!ance be acc"ratel% !eas"red and this is otennot easil% acco!#lished.

It also req"ires disci#line to act"all% relate rewards to#eror!ance.

Another reason is that !an% "nion contracts req"ire thatcertain rewards be based on totall% objecti'e 'ariables

s"ch as seniorit%.

No s"ccess"l or!"la or i!#le!entin$ a #a% or#eror!ance #ro$ra! has %et been de'elo#ed.


10/21

CO&!)$

But a number of desirable preconditions hae beenidentified and !enerally accepted" Tr"st in !ana$e!ent

Absence o #eror!ance constraints

Trained s"#er'isors and !ana$ers

ood !eas"re!ent s%ste!s

Abilit% to #a%

Clear distinction a!on$ cost o li'in$& seniorit%& and !erit

Well co!!"nicated total #a% #olic%

le7ible reward sched"le


11/21

COCA COLA

I#TR$%&'TI$# $( '$P*#+"

The Coca8Cola Co!#an% is the world9s lar$est be'era$eco!#an%.

Alon$ with Coca8Cola& reco$ni(ed as the world9s !ost 'al"ablebrand& it !ar2ets o"r o the world9s to# i'e sot drin2 brands.

The% are acin$ a lot o #roble!s re$ardin$ sales o #rod"ct inthe !ar2et o a2istan.

An i!#ro'in$ b"t still awa% ro! inal destination& theco!#an% aced a lot o hindrances.

S"##l% chain is to distrib"te their #rod"cts at the ri$ht #lace&ri$ht ti!e and with ri$ht q"antities to satis% de!ands in orderto re!ain hi$hl% co!#etiti'e.


12/21

RWAR$ %A&A'%&! S(S!%I&

COCA COLA Coca Cola:s rewardin$ s%ste! to e!#lo%ee is e7cellent as the%

are carin$ with e7cellent rewardin$ #ara!eters.

;"st to retain& !oti'ate and inl"ence e!#lo%ees towardsor$ani(ational $oals with their best #otential "tili(ation.

The% are rewardin$ relatin$ with e!#lo%ees #eror!ance in awa% to increase #rod"cti'it% and eecti'eness.

The% are "sin$ in directl% dierent !oti'ational as#ects li2e

aslow,s hierarch% o needs& ER- theor% and two actortheor% o .urt/ Ber!.

,"t !ore i!#ortantl% the% are not s#eciicall% "sin$ one othe!< the% j"st relate their !ain conce#ts with their rewards%ste! to deine it #ro#erl%.


13/21

%AI& PARA%!RS *S$ AS A

BAS O# RWAR$ S(S!% + + +

Inlation rate actor

Mar2et #otential +what o indi'id"als worth accordin$ to

his=her e7#ertise& job e7#erience etc

Matchin$ with his=her #resence career #ath

ersonal de'elo#!ent o an indi'id"al

Sales rewards


14/21

S*PPOR!I&' PRAC!ICS

Saet% Re8creational acti'ities Trainin$ and de'elo#!ent Indi'id"al $oal settin$

All disc"ssed #ara!eters are "sed b% Coca Cola to !a2etheir reward s%ste! #ractices well in the !ar2et.

bject is to !a2e their e!#lo%ees eel co!ort& satisied&!oti'ated towards achie'e!ent o or$ani(ational tas2s.

Co!#etent to #eror! to the e7tent to attainor$ani(ational !ission and 'ision ter!inolo$ies andco!#ete with o"tside ri'als s"ccess"ll%.


15/21

CRI!RIA O# RWAR$I&'

%PLO(S'o0e is usin! different techniues to define theirreward criteria to wor0 accordin! to define standardsof or!ani/ation

S#ecial assi$n!ents +inter de#art!ental transer

inancial as#ects

rade j"!# and desi$nation chan$e

Trainin$ and de'elo#!ent

ersonal de'elo#!ent o an indi'id"al

Career $roo!in$


16/21

PR#OR%A&C S!A&$AR$S

irst $oals are de'elo#ed at hi$her le'el& then head ode#art!ents !a2e their ones& then "nit oice.

Ne7t co!es locations M& then "nctional heads thendirect re#orts are bein$ or!"lated.

S"#er'isors ta2e #art and at the end e!#lo%ees alsoor!"late their $oals.

All these e7ce#tional #olicies !a2e Coca ColaInternational best o"t o its co!#etitors.

*ll done at four basic steps3 li0e wise" oal settin$ Monthl% re'iew Mid %ear re'iew inal re'iew


17/21

PA( S(S!% O# COCA COLA

-rade Ran!e:re#resents !ana$e!ent $rade>

M1 - M0 Assistant icers M3 - M? icers

M5 Senior icers M6 *7ec"ti'es M@ Senior *7ec"ti'es M Assistant Mana$ers M/ Mana$ers M1B Senior Mana$ers

M11 - M10 ocation Deads - 4nit e'els

The #"r#ose o $i'in$ this whole #a% s%ste! is that CocaCola is "sin$ #a% s%ste! as a base or their reward s%ste!.


18/21

PR#OR%A&C RA!I&'S + + +

Exceptional performance 4EPContrib"tions si$niicantl% e7ceed the stated objecti'es inter!s o q"alit%& q"antit% and ti!eliness.

5uccessful performance 4 5P

Contrib"tions !eet and so!eti!es e7ceed the objecti'eswhich are based on challen$in$ $oals.

%eelopin! performance 4 %PContrib"tions !eet so!e = !ost b"t not all o theobjecti'es and #eror!ance i!#ro'e!ent is necessar%.

#o Performance 4 #PContrib"tions req"entl% do not !eet the stated objecti'es.eror!ance req"ires !onitorin$ and s"bstantial directionro! the !ana$er.


19/21

!y,es of Rewards of CocaCola + + +

+early Basis: *!#lo%ee salar% incre!ent rade ;"!# )esi$nation chan$e Ann"al incenti'e lan +AI +or b"siness #eror!ance&

b"t i7ed ersonal ro$ress re#ort +R +Ann"al A##raisalonthly Basis: Ma2in$ the !o'e +MTM& sales tar$et achie'e Monthl% t"rn hall +e7traordinar% #eror!ance

6uarterly Basis: *!#lo%ee o the E"arter +*E& non sales Sales )an$le conte7t old Conte7t


20/21

RCO%%&$A!IO&S + + +

We wo"ld li2e to add that no!ination o *E criteria !orebeneits to sales e!#lo%ees& so it sho"ld be hi$hl%reco!!ended to ha'e it or all so as to !a2e s%ste! air.

Reward !ana$e!ent o Coca Cola sho"ld be hi$hl% "nctional

to !a2e e!#lo%ees co!!itted to or$ani(ational $oals& 'al"esand standards& also it sho"ld #"sh e!#lo%ees in a wa% toboost their co!#etencies and wor2 "nderstandin$.

or "s $oals sho"ld be s#eciic& !eas"rable& achie'able& andrealistic and ti!e bo"nd +SMART& it wo"ld deinitel% increase

o'erall eecti'eness.

We ha'e to reco!!end Co2e to desi$n their s%ste! ins#eciic wa% to deine e!#lo%ees: career #ath& reco$nitionand "t"re $oals< it wo"ld deinitel% #ositi'el% boostor$ani(ation:s #eror!ance.


21/21

!han-(o. + + +

ppt slides of coca-cola's reward system in relation to performance

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