Explain reward management system in the present context.

Explain reward management system in the present context. Evaluate the existing reward management system in your organisation or an organisation you are familiar with. Briefly describe the organisation you are referring to.


Ans:- Suppose a supervisor ask to solve a serious task which could not be solved with an individual or by a competent employee the supervisor may set up a special team to workout detailed actions plan. Such task makes people united and contribute to the collaboration culture in the organisation.
Improvement of quality of products and services is usually done through a team.
Rewarding Teams: Importance of a phenomenon is usually reflected in and advanced by its recognition by the top management (including rewards). In Indian organizations, team work is seldom rewarded. In performance appraisal no recognition is given to teams or team work. Rewards are generally individual. Even most Indian firms reinforce the image of an individual hero facing and successfully overcoming extremely difficult situation. No wonder that team work is poor in Indian organization.
It is high time that we, developed appraisal system not only for individual employees, but also for teams. However, in the performance appraisal of individual employees, two items should also be included; how much team spirit the employee showed (worked as a member of teams), and what efforts he made to develop teams of his own employees.
Some of the rewards may be both symbols of prestige, and of use to the group. For example, the best performing branch of a Bank can be given a covetable facility (water cooler, photo copier, telex, fax etc.
The reward management system in our organization is done under the following
1. Recognition should be given to team work in performance appraisal.
2. Productive teams should also be rewarded. Competition can be instituted for selecting the most productive team, or the best Task Force contributing to big savings, or autonomous work groups producing high quality products etc.
3. Areas of competition and criteria for selecting the teams should be carefully planned.