REWARD SYSTEM
This is an incentive program that encourages employee’s engagement and productivity by
offering bonuses, increased pay, additional time out or other awards for a job well done. Reward
systems recognize employees who excel in their areas within the organization. Organizations
mostly implement work place reward systems to retain employees, increase morale and improve
overall service and productivity within the company or organization. This will give our
employees more incentives to perform better and be more productive.
Your reward system can apply to individuals or groups of people. For example, when we
meet our annual profit goal, we can offer profit sharing to the employees that contributed to
achieving that success or to the entire team. Employee rewards can be intrinsic or extrinsic.
