Reward

Reward is something given in return ro someone, for a favour, service or any other help received. (brainyquote [2010]). When it comes to organisations, the main rewards for an employees work would be their wages or salaries; most organisations offer bonusses or comissions on excellent work. Each organisations has their own way to reward, it doesn't have to be money, it could be a verbal reward. Different rewards are given to different working group.

BP and their reward strategies:
When i was working for BP for a year, normal employees did not have any reward what so ever apart from their wages, even duty managers wouldn't get any bonuses or nothing apart from their salaries. The only people who would gt the rewards would be the store manager and the assistant managers. They would get bonuses, days off if the store performed well. I have no idea of what the senior employees above them would get. In my point of view i see it as an unfair rewarding strategy as the store is ran by the employees and controlled by the manager, and therefore without the employees, the store wouldn't be able to do anything. The store is doing well through everybody's contribution, and i believe that it is really unfair that the store manager is the only one that gets all the credit. I don't think that fairness and equity is considered properly here, but then again not many employees retaliate due to the fear of losing their jobs.

Should chief executives receive large bonuses even if their organisations underperforms?
A chief executive officer is the higher chain of command in an organisation, they are tipically the president of a company, sometimes it is the owner of the company that are CEOs. they make decisions, and have all the power over a company. (answer [2010]).

Chief executives should get higher bonuses as they are the ones responsible for making correct decisions for the company to be profiteable, and any wrong decisions could be very devastating to the company and lead them to make big losses. However on the other hand if a chief executive keeps on underperforming then it is costly and wasteful for a company to give him or her large amount of bonuses for sinking the company down.

In an organisation everybody, from the chief executive to the low level employees have to contribute in order for a company to run effectively and make profit. without any low level employees, the company won't be able to run and therefore it is only fair that the large bonuses the CEOs get, gets shared equaly to every employees at all level. On the other hands Qualified and skilled CEOs are very hard to find and there are only a very low numbers of them on the market compared to the unqualified labour which makes most of the available labour market; and as a result if these CEOs are not paid like other CEOs are, they would leav the organisation and go to another one that offers them a bette deal of rewards.

3 financial and non financial way to reward a teacher at a primary school:

Financial rewards:

• They could get a bonuss if they are efficient teachers that are bringing good grades to the school.
• They could get a sum of money per students that gets good grade
• Their performance could be assessed and if they do really good, they could get an increase in salary.

Non Financial ways:

• A teacher that is doing well could for example get promoted to become the head of her subject department.
• They could be given a longer period of paid or unpaid holidays.
• They could be recognised as teacher of the month for the department for example.

Conclusion:

In onclusion, rewards is a very good way of motivating employees, however it could demotivate employees when they find out that one is maybe getting more then they are.

References:

• (brainyquote [2010] Reward [online] available at: http://www.brainyquote.com/words/re/reward213184.html [accessed:02/05/2010])
• (answer [2010] chief executive officer [online] available at: http://www.answers.com/topic/chief-executive-officer [accessed: 02/05/2010])