Hello there,

It’s about that time of the year again when activities begin to wind down in the workplace and conversation such as we are going to be discussing take the center stage. It isn’t as if reward system within organizations is only activated at the end of the year but that seems to be the time when a vast majority refer rewards.

Reward is an incentive plan to reinforce the desirable behaviour of workers and in turn for their service to the organization. The main purpose of these incentives is to boost morale, attract, retain, and maintain high performance and encourage teamwork in the workplace. Rewards could be items or experiences for meeting goals, exceptional performance on tasks and any other recognition parameters that an organization’s management has put in place. Rewards can be financial or non-financial such as fitness class, paid time off, catered lunch, gifts cards and so on.

Rewards can be either intrinsic or extrinsic. Intrinsic rewards are incentives that tend to give personal satisfaction to individuals and make them feel better and safer in the organization. These could also serve as motivation to the employees on gloomy days. Intrinsic rewards come as; information/feedback, empowerment, trust, and recognition – see why some organizations celebrate the employee of the month with framed photos. Extrinsic rewards are concrete and tangible rewards such as gifts, money, volunteer day, paid time off, etc. that an individual receives for being exceptional, good team player or other recognition parameters.

Rewards can vary from person to person, so such should be considered in giving rewards. For example, a person who loves to play basketball or volunteer in an orphanage would love to have hours off within the week to engage in such activities over cash rewards over time.  Rewards can come at different intervals during the year but a lot of organizations especially in Nigeria give more attention to rewarding employees more at the end of the year because of the festivities and more persons spend the holidays with their families and loved ones; so, every resource especially cash comes in handy. Just as the year is winding down, intrinsic, and extrinsic rewards are great incentives, and a balance should be created when engaging reward system.

21Search is a registered manpower development company offering services such as trainings, recruitments, outsourcing and standardization services. Kindly send an email to e.mbahon@21search.ng to get a quote.

Until I come your way again, stay safe, work smart and not just hard.



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