Strategic Managment

Think about how hard you’ve worked in your group over the past few weeks. As a manager, describe how you would set up a reward and evaluation system for a group project at work. How would you tie this into the organizations high ethical standards? How would you measure this? Can it be measured?

Most companies use some sort of reward systems, whether it is monetary or psychological rewards. There are many ways that rewards are used in effectively measured standards. The first thing a company or manager needs to do is to identify your company or organization's values and find common points between them and your employees. These are areas where win-win scenarios can be created that fit within the values of both groups and allows an employee the opportunity to feel good about themselves by making a difference with their company's support (Bamble, 2014).

A company has to make a profit, and often times employees and groups that work together of a project often get compensated in a several different ways, this could be a bonus, extra vacations days, a trip, or even a dinner. A company and the manager must state what the goals and objectives are to reach, and set up an efficient reward for the groups. For example, where I work at, if they make the numbers of products that are set, they will receive two bonuses twice a year. This entails all the employees working together to get the finished product out the door, and with little bad quality.

Company culture is shaped by the type of reward systems used in the organization, and the kinds of behaviors and outcomes it chooses to reward and punish. One relevant element of the reward system is whether the organization rewards behaviors or results. Some companies have reward systems that emphasize intangible elements of performance as well as more easily observable metrics. In these companies, supervisors and peers may evaluate an employee’s performance by assessing the person’s behaviors as well as the results. In such companies, we may expect a culture that is relatively people or team oriented. Another categorization of reward systems might be whether the organization uses rankings or ratings. In a company where the reward system pits members against one another, where employees are ranked against each other and the lower performers receive long-term or short-term punishments, it would be hard to develop a culture of people orientation and may lead to a competitive culture (Organization Culture, 2008).

One of the biggest misconceptions about Employee Recognition programs is that