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Rewards and Performance

Video Quiz

A Video Quizz by Group 5 of MGMT 6206.

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management
 Âge recommandé: 18 ans
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Créé par

Agustin Smith
Agustin Smith
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Rewards and PerformanceVersion en ligne

A Video Quizz by Group 5 of MGMT 6206.

par Agustin Smith
1

Who created the goal-setting theory?

Written answer

2

What does the expectancy theory state?

Written answer

3

Identify the extrinsic reward below:

Select one or more answers

4

Select the intrinsic reward

Select one or more answers

5

What are the three components of performance?

Written answer

6

1. Choose the most appropriate answer when rewards do not contribute to high performance

Select one or more answers

7

Does training or job placement play a role in lower performance/under achiever?

Select one or more answers

8

Name 3 factors for better performance and personal satisfaction

Written answer

9

According to Adam’s theory, what motivates employees?

Select one or more answers

10

Which element is necessary for a goal to be motivating?

Select one or more answers

11

When is a salary raise usually achieved?

Select one or more answers

12

Which function is not a part of the performance equation?

Select one or more answers

Explanation

Clarity: goals need to be clear and easy to understand Challenge: Goals should be challenging enough to motivate an employee to increase performance Commitment: The employee must be committed. The manager should agree on realistic and sensible targets, make sure the rewards associated with the goals are wanted, desirable and the reward process transparent. Feedback: As the employee work towards the goal regular feedback should be given. Task Complexity: For a goal to be motivating it should not be too complexed. High complicated goals can be overwhelming and demotivating

Rewards must be linked directly to performance and how the recipient is rewarded should be transparent. Rewards should also be deserved and wanted.

Extrinsic rewards • Bonuses: Usually annually, Bonuses motivates the employee to put in all activities and efforts during the year to achieve more than a satisfactory appraisal that increases the chance of earning several salaries as lump sum. • Salary raise: Is achieved after hard work and effort of employees, attaining and acquiring new skills or academic certificates and as appreciation for employee’s duty (yearly increments) in an organization. This type of reward offers long-term satisfaction to employees • Gifts: Are considered short-term. Mainly presented as a token of appreciation for an achievement or obtaining an organization's desired goal. Any employee would appreciate a tangible matter that boosts their self-esteem for the reason of recognition and appreciation from the management.

Examples of Intrinsic rewards • Information / feedback: This type of rewards offers guidance to employees whether positive (remain on track) or negative (guidance to the correct path). This also creates a bond and adds value to the relationship between managers and employees. • Recognition: This type of reward may take the presence of being formal for example meeting or informal such as a "pat on the back" to boost employee self-esteem and happiness which will result into additional contributing efforts. • Trust/empowerment: Trust is a vital aspect between living individuals in order to add value to any relationship. This form of reliance is essential in order to complete tasks successfully. Also, takes place in empowerment when managers delegate tasks to employees.

Employees must have a clear understanding of the goals/direction of the company in order for them to live and believe in it. Create the values of wanting to perform and exceed company’s expectation. Rewards such as compensating employees with high salary or monetary incentives will only work for mechanical skills (higher pay higher performance) and not rudimentary cognitive skills (larger reward poorer performance).

Allow employees adequate time/space to grow to attain certain skillset and tools necessary for the job. In order for an employee to perform high, rewards but be aligned with company goals to accommodate the learning process. Training required for low performer/achiever or transfer to a different position/ environment in which the employee could better utilize his/her skills. The individual contribution and the level of goal achievement should be recognized in a face-to-face conversation between employee and manager.

Inputs – are the employee’s contribution to the organization. For example, commitment shown, number of hours worked, experience brought to the role etc. Outputs are what the employee receives as a result of their inputs. These benefits can be tangible (salary, bonus) or intangible (recognition, sense of achievement etc.)

 
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