Share
Explore BrainMass

Innovation Strategies: Rewards at Work

Employers have been coming up with innovative employee rewards to boost morale and acknowledge employee needs for creativity and personal goal accomplishment. Some of the latest potential employee rewards include using the Internet at work for personal reasons such as shopping, communicating with friends, or personal finances; bringing a pet to work; instituting a controlled napping policy, and the sports and office betting pools.

1. Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

2. Explain how innovative benefits could be tied to specific jobs.

3. Critique the effectiveness of equity-based rewards systems versus those with more creative approaches.

4. Discuss the key elements of integrating innovation into a traditional total rewards program.

5. Recommend a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.

Solution Preview

1. Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

We can use innovations in employee benefits to attract and retain competent people. For example, increasing monetary rewards other than salary such as specific bonuses, commissions, medical and health benefits, holidays, and retirement benefits can be very effective in the short run. Keep in mind that creating a peaceful and healthy working environment by focusing on non-monetary rewards such as recognition and career advancement, safe and healthy working environment, and fair treatment are also very important.

Of course such innovations also require a good communication between employees and the management. Otherwise employees may feel insincerity on the part of the management. Our company policies should match with the right and appropriate actions that demonstrate to our employees that we are a fair and just employer.

2. Explain how innovative benefits could be tied to specific jobs.

For example, if we want better customer service, we can reward employee behaviors that produce superior service. The job market demand for qualified technical and IT personnel is very high. If ...

Solution Summary

This solution provides a detailed discussion of the given business questions.

$2.19