Some employers
reward members of staff for their exceptional contribution to the company by
giving them extra money. This practice can act as an incentive for some but may
also have a negative impact on others. To what extent is this style of
management effective? Are there better ways of encouraging employees to work
hard? - Ielts Essay
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| Ielts Essay Rewarding Employees |
The priority of corporate has shifted to extracting maximum
output and efficiency out of the employed workforce. To execute this task more efficiently, companies
have started introducing several innovative initiatives, like rewarding
outstanding performers with performance linked financial incentives. This
aspect has been regarded as a positive step by some management experts, while
some consider this as an inappropriate way of encouraging employees.
The modern management concepts profess offering financial rewards to outstanding
performers in various ways, including disbursing extra money in form of
performance linked incentives to excellent performers. Monetary
incentives act as major stimulants for many efficient workers, as the
beneficiaries are able to participate in their families with more financial
resources. . This factor, in turn helps in enhancing mental preparedness
of the beneficiaries, and encourages them to perform even better next
time.
Besides having a direct impact on the performers, the
monetary bonus successfully stimulates other employees too, as they also feel
inclined to making substantial improvements in their productivity. This helps
in enhancing the workforce competence of the companies, and they are able to
derive optimized performance from employees.
On the contrary, several drawbacks are cited by the critics
of theory of compensating exceptional performers with financial bonuses.
Although financial benefits do encourage certain people, but it has often been
observed that this kind of policy can generate jealousy among co-workers, which
in turn, can adversely affect the work culture of an organization. Some of the
employees who also give their best at work, but rarely make it to top because
of being involved in departments where gauging output is rather difficult, end
up feeling ignored and alienated.
In conclusion, I personally feel that although, policy of
financial rewards can generate some problems among colleagues, the system of
offering extra money to brilliant employees has many advantages.
