Rewards Essay -- essays research papers

Rewards and motif U.S. companies face great pressures today than ever before to improve cost efficiency and in the same breathe taking their products to market faster, cheaper and with stronger innovation, regulatory compliance, responding to ever change magnitude regulations around the world that often conflict with each other. A ac caller-up must also be nimble enough to change anxiety quickly and cost-effectively when market conditions commove. At the same time, they still must endure an environment in which people extremity to be employed and want to excel. This is where old models for rewards management fall flat and new rewards approaches must be implemented to make a more efficient and productive organization. (Chang) The company that will be referred to throughout this paper is the authors latest employer, Walgreens Corporation. In todays business environment, attracting, retaining and motivating the kind of people who ass meet a fast-growing organization requires most companies to think differently somewhat how they pay their employees and this is true for Walgreens. The thought touch on to reflect this change is concerns the shift from compensation to rewards or the merger of both. When speaking to an HR representative at heart the department, it was made clear that the company objectives are results-focused and the weight of reward programs feel increased to compensate. Walgreens views base pay as the price pay for social rank to the company. Base pay ensures the company that the employee will show up at work, that they may call employees night or weekends with business questions, that they can send them employees out of town and disrupt their personal life. But motivator pay or rewards is the price you pay to get employees focused on what is important to the company. For example, several years ago on the store trading operations level a flat rate was provided for the positions of Executive managers and storeowners across the call ing card in the relation to annual bonuses allocated. For examples, two speed of light dollars and seven hundred dollars respectively were issued on a monthly basis for these positions. However, rather than serving productivity it had little effect and essentially did nothing to improve the cigaret line for the corporation because managers felt that this allocated amount was just another structured payment (like base pay) and put the... ...n the company across the board just especially in cities in which new districts are being make up, such as North Carolina, South California and Atlanta, Georgia. Human Resources created a rewards program to create the motivation to make the connection between the intention and the effort it takes to obtain that goal. For each referral that leads to a new hire an employee receives single thousand dollars and if they recruit for newly developed cities they obtain restate points, which would double the payout (i.e. $1,000 to $2,000). This a pproach has helped alleviate the recruiting strain that was place on the company. The general process theory is consistent with the Walgreens Corporation that has esteemed itself at leading the crease in regards to innovation and human capital. ReferencesMeyer, John P., Becker, Thomas E., Vandenberghe, Christian. Employee Commitment and Motivation A Conceptual Analysis and Integrative Model. Journal of Applied psychological science Dec2004, Vol. 89 jazz 6, p991, 17pChang, Julia. Where Everyones a Winner. Sales & Marketing Management Jan2005, Vol. 157 Issue 1, p43, 4p, 8cMilkovich-Newman. Compensation Pay Model. McGraw-Hill. Boston, 2004.