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For many years firms have given financial rewards in an attempt to motivate employees and improve productivity
Member rating: No Rating | Words: | Submitted: Tue Oct 17 2006
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1. Financial rewarding is a system employed by organisations to distribute money and other benefits in exchange for the employee's availability, proficiency and performance. Financial rewarding is a system that has proved to be successful in organisations as it motivates workers to work harder and have greater value for their workplace. (McShane and Travaglione, 2003), Organisational rewards encompass rewards such as employee share ownership plans, share options and profit sharing plans, devising an innovative work/life program, on site fitness services and support for child- care, low health care costs, absenteeism rates and life insurance plans. (Greenberg and Baron, 1997) As identified by McShane and Travaglione (2003), there are several organisational rewards, one in which is employee share ownership plans. This is a reward system that is based on encouraging employees to buy shares in the company. Employers are then rewarded through dividends and market appreciation. Job empowerment is...
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