An effective reward system can motivate employees and increase their work performance. It can have a very powerful influence on people's behaviour and, therefore, many organisations implement it as an integral component of their compensation strategy. However, not all reward programmes are beneficial. Moreover, inefficient systems are counterproductive, destroy creativity, hurt morale and disrupt...
Traditional performance appraisals Most organisations have a formal process for evaluating the performance of its employees. Usually, it has a form of an annual performance review where employee’s work performance and behaviours are assessed, rated and documented by direct managers. The ultimate goal of a performance review system is to reward and retain capable employees by keeping them...
I’ve recently come across a great video by Rick Klau about setting goals at Google. OKRs stands for Objectives and Key Results and are used at Google for setting goals at company’s, teams’ and individuals’ level. A great advantage of this system is that individual goals are aligned with company’s goal, therefore, everyone is rowing in the same direction. Key points...