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Saturday, December 21, 2013

Performance Management: Rewarding

In the last byte, we looked at the key characteristics of an effective appraisal system. In today's byte, we look at the aspect of rewarding performance.

Generally, performance appraisal systems also act as feeders to rewarding decisions that the organization takes. We also have indicated in the discussion on learning that through reinforcement we could change the behavior of an individual. Extending this to the context of rewarding employees - if an organization wants good performance, it must reward good performance, and if it doesn’t want bad performance then it must not reward bad performance. If the company believes in values, teamwork, customer focus then they need to reward behavior related to these ideas.

This looks simple, doesn’t it?

If one were to ask a seasoned professional the answer would be "No". Reward decisions are the most difficult to make! Surprised?

Well the solution lies in realizing that not everyone works for money! While pay and reward for performance have value, a lot of other dimensions like - values, trust, fun and meaningful work all begin playing a key role. These elements make reward decisions most difficult and complicated decisions in organizations.

We shall continue this discussion over the next few blogs.

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