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Companies’ incentive programs extend beyond monetary bonuses and commissions. After analyzing companies such as Procter & Gamble, I was able to relate topics learned in my organization behavior class and apply this knowledge towards measuring the positive effects of reward systems, whether it is intrinsic or extrinsic. Similarly, ‘Benefit Programs’ tend to attract potential employees and to encourage workers to have a strong performance in order to gain certain benefits.
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To start, P&G provides retirement plans, FlexComp, and multiple insurance programs to employees. FlexComp and retirement plans are prime examples of how companies use incentives to keep their valued employees at their companies. P&G contributes a certain percentage of the workers’ salaries to these programs; this percentage increases as the number of years one has worked at the company increases. FlexComp at P&G allows employees to buy additional vacation time, different insurances, and other perks. Other than additional time off and healthcare benefits, workers who are continuing education would also be incentivized by tuition benefits. ‘Tuition Reimbursement’ at P&G is a plan for employees who pursue education related to their work projects.
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Moreover, P&G has a ‘Work-Life Balance’ program in which the company encourages. This program is an understanding between employers’ expectations and the employees’ personal schedules. All employees have different personal schedules and productivity levels during the day and the traditional schedule from 9-5 is outdated. Nowadays, companies offer some deviation from the traditional schedules. P&G promotes flexible scheduling because they believe that it would improve workers’ productivity and deliver results. Furthermore, employees with contributive work and strong performances may get to work certain hours from home. From an organization behavior standpoint, P&G has the right idea when it comes to supporting and motivating their employees, which ultimately contributes to their success and sets them apart from other companies.
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