Reward

Reward

After looking at Marks and Spencer’s, it can be seen that they have many ways that they reward their employees. The main way their employees are rewarded is by bonuses in 2007 the majority of workers received a bonus of £1,000 up to £45,000 due to
Marks and Spencer’s high profits.

But when the company is not doing so well and bonuses are unavailable they offer their employees the chance to buy shares at a 20% reduced rate resulting in staff becoming more loyal and motivated to make the business succeed so they can receive a bigger return on their investment. As well as this Marks and Spenser’s organises trips to theatre shows, and hires out venues across England to hold dinners, dances and social activities. As well as this staff get a discount on products sold by Marks and Spenser’s.

Rewards for underperforming

Lately it has become apparent that chief executives have been receiving large bonuses even though their organisation has been underperforming. Throughout the organisation this is generally seen as being unfair as areas of the business are struggling to perform and could use a monetary boost to help.
By giving the chief executives a large bonus it will hopefully motivate them to try harder and manage their organisation in a better more efficient way as well as encouraging and keeping the chief executives motivated to do their job as the reason for the business failing may have been out of their control for example if a recession hit the chief executive would not be able to turn out profit like they may have done the previous year as people are reluctant to spend on things they don’t really need

But giving chief executives such high bonuses can lead to de-motivation and conflict lower down in the business as the business is under performing they will not have received a bonus and be angry that the chief executive has been rewarded. As well as this the money that has been paid out to the chief executive could have been put back into the business to improve underperforming areas and encourage growth. As well as this if the business is supported by the government some of the money will have come from UK tax payers who would not be happy seeing it go to someone who has not managed to do their job right and is being rewarded for underperforming.
Other ways to reward employees

Some ways that teacher can be financially rewarded are

1. If a percentage of the class gain a grade B or above the teacher will receive a 5% bonus
2. If the teacher uses their initiative and takes on extra training to further their skills and knowledge in their own time that will benefit the school there could be a cash incentive
3. Better technology in the class room can motivate the teacher

Employees can also be rewarded with non-financial benefits such as

1. Being rewarded with extra training
2. Tickets to teacher orientated performances
3. The knowledge that they have made a difference and improved children’s education