New and Improved Rewards at Work Assignment Example | Topics and Well Written Essays - 2000 words

New and Improved Rewards at Work - Assignment display caseTherefore, the relationship between the workers and the stakeholders go away determine the level of change in any association (Politano & Macnaughton, 2009, p.110). Hence, this will contribute in integration of varied skills, which if worked upon tactically will lead to growth of the arrangement to greater heights. In addition, all heads of departments should organize forums in which they have to meet with the aim of interacting, socializing, and exchange of ideas and experiences from their respective fields. Upon meeting, the heads will have robust environment to discuss for the way forward. Secondly, training of the workers by the organization will non only improve production by to a fault the ability to use the required technology. Moreover, workers get motivated with the rewards from the organization. In alliteration, Innovation is the key factor in improving the strategy of any organization on the globe. Here is some crucial factor that all workers should embrace to initiate change as below learning, quality of life with innovation at hand, and monitory incentives just to mention but few. Learning It is noteworthy that the available innovation gives employees the opportunity to learn and put into practice the learned technological skills. In addition, by statistics analysis, it is evident that the number of hours worked by American employees is on the rise. The above, is propelled by the high standards of living and so many workers argon scared on how effectively they will meet the demand of lives. Flexibility of employees is one key factor that facilitates production in an organization. Monetary incentives- money is the main motivational factor globally, here the organizations profit, if shared among the employees will motivate employees to a greater heights. Besides, to reduce absenteeism, and improve employees production, monetary rewards are the best igniters so far. On the contrary, if mo netary rewards are not incorporated with another(prenominal) rewards can be short lived. Again, if not well distributed among all employees, the monetary incentives can prove to be fatal (Deeprose, 2007, p.120). However, the present-day(prenominal) competitive conditions in an organization or business world make it almost impossible to not only retain, but also acquire superlative talents. Therefore, an organization should offer the right pay and effectively manage the pay increase in order to retain the top talents after identification. On the other hand, it is advisable to keep personal budget by stabilizing the recompense strategy. Compensation strategies are vital in identifying the job markets to an organization hence make the attractiveness of companys top talent. Compensation strategy and competitive advantages Nowadays, it is worth to note that employees are on the same level with the customers. Thus, they are not in a position to identify a good organization since bette r employers are identified no longer. Competitive advantage is a displace factor to a mix success. It is important for any organization to identify differently themselves for not only presentation but also for a different approach to the employees. In addition, it is real that the most successful differentiators are compensation strategies. An organization is not only differentiated from other organization by compensation strategy but also it brings differentiation in an organization. It is pertinent to note that, effective compensation gives the