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Reward and recognition program

The title page of a business report is counted in the numbering although a header and page number do not appear.

Rewardand Recognition Program

Nameof author

Title, writer’s name, and date, centered on page. Company name centered at bottom.

I

While in APA format, the heading “Introduction” would not be in bold, an exception is being made for this business proposal.

ntroduction

Inthe recent past, our institution entered into a merger with the aimof expanding its productivity and possibly gaining a bettercompetitive advantage. Though the management thought the ultimateresult of this action would yield a solution to most of its problemsand provide a better way to rise above the odds, they failed toforesee the possibility of changes in the work environment. Enteringinto a merger led to many ill effects in the motivation of theworkers. For instance, it led to change of employee`s perceptionstowards their job as they thought they would do more tasks with no ormeager changes in their compensations, therefore, lowering the moraleamong workers. The staff felt that they would no longer be enjoyingunique identity with their products. As a result, the performance ofthe institution has considerably reduced.

Dueto these ill motivations, the organization`s productivity hasdecreased in all the sectors. Even the best performers in the companywere affected by these changes. It is, therefore, important to findan immediate solution as the continuation of this problem wouldresult in the dissolution of this institution. According to Geslien(2012),the productivity of a company is directly related to the performanceas well as the motivation of its workforce. A well-motivated andactive workforce results in an exemplary performance in theenterprise while the opposite is true(O`Brien &amp Raymond, 2010).The current situation in the institution is not sufficient as it isleading the company away from its goals and into a path ofcollapsing.

Thesituation needs an immediate intervention because, the business needsto be optimally performing and producing if it wishes to realize itsobjectives. The formation of a merger was meant to help the businessgrow and increase its revenues, and it would be ironical for thecompany to collapse only after formation of the alliance. It ispossible to control the motivation as well as the work productivityof the labor force in the business by implementing the rightmotivational methods such as reward and recognition(Geslien, 2012).If the workers feel appreciated for their work, they will feelmotivated, and hence put more effort in their work, and this wouldresult in competition among the workers so that the best performer isrewarded. Ultimately, the business will be operating optimally.

ProjectPlan

Thelabor productivity of any institution determines the performance ofthe firm (Salie&amp Schlechter, 2012).It is, therefore, imperative to consider the various methods and wayswhich can be applied to improve the productivity of the staff. Thebest approach towards this problem is the use of a reward andrecognition program. The purpose of reward and recognition program isto identify and honor work or efforts of the staff that are insupport of the realization of the organizational goals, mission, andvalues of the institution (O`Brien&amp Raymond, 2010).

Toinitiate the program, I would need to coordinate with the seniorleadership to gain the necessary guidance and inputs towardsachieving the organization’s goals and values. It is also importantto engage the employees in determining the types of effort andbehaviors they think are worth acknowledging and rewarding. I wouldthen propose ways to blend the goals, mission, and values of theorganization with the staff’s daily work, roles, andresponsibilities. It is important to develop recognition criteria foridentifying those workers who excel in their duties, and decide thebest prizes to honor their job.

Areward and recognition program should be designed carefully andadequately to ensure that it is effective(Fuoco, 2011).Therefore, it is crucial to engage the employees or the staff at allstages of program formulation. All different groups and departmentsin the institution should be adequately involved in the developmentof the design. It is ethical to introduce the design staff to theorganization. The introduction can be done by emailing their names orphysical presenting them in the staff meetings. The employees areencouraged to work with the design team to provide them with ideasand feedback.

Iintend to communicate the timeframe of the program to the institutionand inform them about the expected date and period of roll out. Iwould also keep the organization updated on the progress of thedesign development. To enhance transparency, I would clarify thecriteria for arriving at various decisions in the design process. Fora program to be efficient in any organization, it should be easy touse among all the institution members (Edmonds,2014).All members should be able to understand the program with little orno effort. The program should be comprehensive such that, it would bepossible for the staff to recognize other workers from otherdepartments.

Accordingto Salie&amp Schlechter (2012), itwould be faulty for any program designer to assume that their work iseasy and understandable by the users. Incorporation of an orientationplan among the staff would enhance proper understanding of the designand clarification on the difficult areas. Therefore, after developingthe program, I would initiate a training program for the variousheads of departments and then do the same to their junior staff.

Throughthis program, the staff should be able to receive incentives to work.More than half of the companies in America adopted theincentive-related program to ensure motivation among its workers.According toFuoco (2011),&nbspmanyorganizations in the United States spend a total of 77 billiondollars every year on reward and recognition programs. Theseincentives have more than doubled in the past decade. The rewards maybe in the form of money, travel sponsorships, and publiccommendations.

Geslien(2012), states,“today, there exists a 46-billion-dollar market for staffrecognition expenditure, for instance, gold watches, thank-youawards, plaques, among other products.” Eighty-seven percent ofthese rewards and recognition programs focus on the employee tenure(rewards for continually working in the institution), though theyhave no impact on the performance of the organization (O`Brien&amp Raymond, 2010).Many of these tenure-based compensation programs are legacy programsproposed at the beginning of the twenty-first century. During thistime, the labor unions pressurized the managers to advance serviceawards and honorary raises in salaries for their staff`s tenure. Manymainstream companies still have these programs but only half of theemployees are aware of the existence of such programs.

Mostmodern recognition programs have a significant impact on the businessperformance. According to research, conducted by Edmonds (2014), 20%of the companies with an honor culture exhibited 31% less voluntaryturnover rate. In an organization, the reward and recognition systemsmust generate both the tangible and the virtue awards that everyworker can earn, enjoy, and derive. These systems should create thefollowing effects:

• Thestaff should be happy with what they are awarded

• Theinstitution should benefit from the motivated workforce.

Theprocess should have the following key features:

• Manyrecipients

• Useof both formal and informal recognition

• Theprocess should be timely.

• Abundance

Throughthe recognition and reward program, the organization should be ableto receive some returns on the rewards,whichhelp in sustaining the program(Salie &amp Schlechter, 2012).The staff should be informed about their performance in relation tothe institutional standards, via feedback. An effective reward andrecognition program applies a “pulling” strategy, making thestaff enjoy being part of the process and receiving the designatedprizes. It requires patience and consistency to assimilate theworkers fully into this culture. According to Edmonds (2014), ittakes several tries before people adopt behavior as a regularactivity in their daily routine.

Qualificationsand Experience

Anorganization must choose a professional who would ensure that theprogram receives the best support at all levels of the organization(Edmonds,2014).This role requires a person with well-developed skills to coordinateactivities among the various departments. I am well equipped withthese skills and the necessary experience in project managementactivities. Therefore, I would ensure that the project is welldeveloped and that it yields the appropriate results. I have areputation of observing the required timeframe of a project, andhence I am confident that I will provide exemplary work and in therequested time. In the past, the organization has successfullyundertaken many projects such as those concerning the worker’swelfare. Therefore, the earlier success can only be an indicator ofthe success of the current reward and recognition program.

EstimatedBudget

Theplanning process involves accounting for methods of allocatingresources and funds towards acknowledgment and reward process. Aproper administration process should be established. In this section,I include a general overview of the expenditures. The details of thebudget are presented after approval of the project(Hoicka, 2012).The Company should plan about two percent of their revenue onrecognition and reward programs. The total budgetary allocationshould be at least sixty million dollars.

Budget item or expenditure

Percentage

Cumulative percentage&nbsp

Amount(millions)

&nbspWages

&nbsp5

&nbsp5

&nbsp3

&nbspProgram communication

&nbsp2

&nbsp7

&nbsp1.2

&nbspProgram administration

&nbsp6

&nbsp13

&nbsp3.6

&nbspSoftware

&nbsp4

&nbsp17

&nbsp2.4

&nbspHardware and other devices

&nbsp8

&nbsp25

&nbsp4.8

&nbspProgram training

&nbsp2

&nbsp27

&nbsp1.2

&nbspProgram presentation

&nbsp2

&nbsp29

&nbsp1.2

&nbspGift certificates for personal services

&nbsp3

&nbsp32

&nbsp1.8

&nbspOffice accessories

&nbsp5

&nbsp37

&nbsp3

&nbspJewelry and time pieces

&nbsp6

&nbsp43

&nbsp3.6

&nbspHousehold items

&nbsp5

&nbsp48

&nbsp3

&nbspElectronics

&nbsp8

&nbsp56

&nbsp4.8

&nbspTravel

&nbsp6

&nbsp62

&nbsp3.6

&nbspHuman resources

&nbsp5

&nbsp67

&nbsp3

&nbspCorporate communications

&nbsp4

&nbsp71

&nbsp2.4

&nbspSurveys

&nbsp5

&nbsp76

&nbsp3

&nbspConsultancy

&nbsp5

&nbsp81

&nbsp3

&nbspEvaluation

&nbsp4

&nbsp85

&nbsp2.4

&nbspTax

&nbsp7

&nbsp92

&nbsp4.2

&nbspMiscellaneous

&nbsp8

&nbsp100

&nbsp4.8

Conclusion

Thereward and recognition program is an effective method for enhancingthe motivation and performance of the employees. Through thisprogram, the company can boost its performance and hence propagateits growth. Reward and recognition offer a proper basis forcompetitive culture among the staff in all departments. It alsoincreases the loyalty of the staff and hence reducing the rate ofvoluntary turnover.

References

Edmonds,S. C. (2014).&nbspTheculture engine: a framework for driving results, inspiring your employees, and transforming your workplace.John Wiley &amp Sons.

Fuoco-Karasinski,C. (2008).&nbspInnovativeexcellence.Scottsdale: WorldatWork Press.

Geslien,J. (2012).&nbspIncorporatinghuman factors engineering into a reward and recognition program.

Hoicka,C. (2012).&nbspUnderstandingpro-environmental behaviour as process.Waterloo, Ont.: University of Waterloo.

O`Brien,J. &amp Raymond, J. (2010). Associating reward and loss with faces:Effects on rapid face recognition.&nbspJournalOf Vision,&nbsp7(9),16-16. http://dx.doi.org/10.1167/7.9.16

Salie,S. &amp Schlechter, A. (2012). A formative evaluation of a staffreward and recognition programme.SAJ. Hum. Resour. Manag.,&nbsp10(3).http://dx.doi.org/10.4102/sajhrm.v10i3.422

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