1. REWARDS

2. A WELL-PLANNED REWARD SYSTEM IS A KEY STRATEGY IN… ATTRACTING, MOTIVATING & RETAINING EMPLOYEES

3. REWARDS SYSTEMS SHOULD…

4. -MOTIVATE STAFF -BE EQUITABLE -CLEARLY COMMUNICATED -DEFENSIBLE -RELEVANT -COST EFFECTIVE -INTEGRATE WITH CORPORATE STRATEGY

5. WHAT REWARDS WOULD YOU APPRECIATE OR EXPECT WHEN WORKING?

6. SYLLABUS 1)MONETARY & NON- MONETARY 2)INDIVIDUAL & GROUP 3)PERFORMANCE PAY

7. 1

8. REWARDS FOR WORK MAY BE MONETARY OR NON-MONETARY

9. MONETARY -WAGES/SALARY -BONUSES -FRINGE BENEFITS

10. NON-MONETARY -FLEXIBLE WORKING HOURS -JOB SATISFACTION -RECOGNITION

11. 2

12. REWARDS MAY BE GIVEN TO THE INDIVIDUAL OR GROUP

13. INDIVIDUAL REWARDS -PAYMENT BY RESULTS -BONUSES -COMMISSIONS -WAGE/SALARY INCREASES

14. GROUP REWARDS -PAYMENT BY RESULT -TEAM BONUSES -PROFIT-SHARING

15. GROUP REWARDS HELP BUSINESSES ACHIEVE DESIRED LEVELS OF EFFECTIVENESS

16. 3

17. PERFORMANCE PAY CAN REWARD EMPLOYEES EITHER INDIVIDUALLY OR COLLECTIVELY FOR WORK TOWARDS ACHIEVING CERTAIN GOALS

18. DO YOU THINK THERE ARE ANY ISSUES WITH THIS?

19. PERFORMANCE PAY CAN CAUSE FEELINGS OF SUPERIORITY, WHICH MAY LEAD TO CONFLICT IN A WORKPLACE