Innovative Employee Reward Methods Use and its Linkage with Employee Motivation and Performance

Stefanovska Ceravolo, Ljubica and Ristova, Emilija (2011) Innovative Employee Reward Methods Use and its Linkage with Employee Motivation and Performance. In: International Conference for Entrepreneurship, Innovation and Regional Development, 5-7.05.2011, Ohrid, Macedonia.

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The presence of motivational methods and systems in companies defines its success. The perception of what motivates and should motivate employees towards achieving organizational and their own needs, has been changed over the years and the era of technological change, economic crisis and new achievements. Recognition of employee’s work and indentifying an innovative idea, followed by an innovative reward method can make a huge difference in the workspace and improve employee performance within the company. Does management encourage every single employee to contribute their ideas and implement the best ones? Many companies continue to offer employees the basic package that has been around for years like base salary, traditional benefits like health, welfare and retirement or maybe a profit-sharing plan. There are absolutely alternatives to consider. This is where manager’s creativity takes place. Many of the traditional reward methods are tied to performance, but employers should also consider non-performance based methods. Another category of ideas is to consider motivating employees and maximise performance through implementing relationship-building programs. The lack of existence of innovative employee reward methods is identified in our research, which took place in 39 Macedonian organizations (218 employees). During the research we identified very few reward methods and many of them tie directly to employee performance. Considering the lack of the existence of innovative reward methods in our companies the basic step every employer should concentrate on, should be defining the right factors of motivation that are connected with other indicators and not just performance, as well as making this factors a part of an innovative employee reward method that will be accepted by employees and supported by the top management of companies.

Item Type: Conference or Workshop Item (Paper)
Subjects: Engineering and Technology > Other engineering and technologies
Divisions: Faculty of Mechanical Engineering
Depositing User: Ljubica Stefanovska Ceravolo
Date Deposited: 16 Nov 2012 10:14
Last Modified: 16 Nov 2012 10:14

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