It isn’t a secret that rewards systems can be dysfunctional. Whether they are related to the global economic slump, such as the major bonuses given out in the states, or they are long term concepts outlined in On the Folly of Rewarding A, When Expecting B, these systems can create major controversy. This is not to say that A is a direct failure, but it is not what the company wants. Evidently, one of the biggest challenges in running a company is how to successfully reward employees in order to maximize profits and satisfaction.
I believe a reward system don’t only involve incentives such as money, vacation time or stock shares. I believe one of the most powerful motivators is recognition, whether it’s verbally or through an e-mail, employees need to know when they are doing the right thing. Ultimately, when building a business, management must be careful to motivate employees so that they are behaving in a way that is beneficial to the company as a whole.
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