First you have to see that which department the employee belongs to and secondly you have to see that how much financial powers do you have before rewarding an employee. Its easier to reward a Sales/ Marketing department employee by commissions or increments but its a little bit difficult to reward an operations employee . You can reward him by giving him a higher rank or by telling him to go on vacations for3-5 days to any city and refund him the expenses or giving him a bonus salary giving him salary raise.
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Amal Mandhora , 'Temporary Assignment' , Hamad Medical Corporation
Rewards must be based on performance or tenure of the employee. Rewards that are presented to the Employee in the presence of peers/team members/seniors always matter a lot and can motivate the employee to perform better.
Rewards can be of various types - monetary, in kind (like shopping vouchers, free stays in a holiday destination, vouchers for family excursions, etc) or in terms of a promotion or new work responsibility.
Normally incentives are offered to best performers. Since you are asking this question I presume that the employee has performed outstandingly and you to reward this employee significantly. My experience is that materialist rewards have a short life I generally give a trophy or a memento along with incentive as per company policy and applaud his performance amongst whole department / company. This reward an employee will cherish for all his / her life, secondly we have placed a board at the reception where we put name of employees who have performed outstandingly. The Heading on the board is STALWARTS. Everyday when he / she enters office his / her self esteem is so much boosted and he / she strives to maintain their performance to high levels.
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Barakat Naser , محاسب و الموارد البشرية , شركة مصنع ومطاحن النصر
المكافئة الموظفين تتم عبر عدة طرق: مكافئة ماليه , صرف اجازة براتب , مكافئة معنوية بالاشادة بالموظف اما الموظفين الاخرين , ترقية الموظف الى وظيفة اعلى منها تتلائم مع كفائته ولا ننسى ان سبب مكافئة الموظفين هو تحفيز الموظفين على تحسين الاداء الجيد والابداع في العمل مما يحسن من انتاجية الموظفين وبتالي يؤثر على اداء المنظمة ككل
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mohammad qarout , Head Of Accounting , شركة الشرق الحقيقي للمقاولات
المكافئة تتم اما عن طريق ترقيته الى رتبة اعلى من الرتبة التي هو عليها , او اقوم بمكافئته ماديا وذلك حسب العمل الذي قام فيه وحسب الانتاجية الذي جلبها للشركة وذلك اما انه وفر مصاريف معينه للشركة او انه عن طريقه اكتسبت الشركة ارباح معينة وبالتالي فانه عن طريق المكافئه بانواعها فانها تشجع الموظفين جميعا ومنها يصبح هناك تشجيع اعلى على العمل ومنها تنمو المؤسسة وتتطور ز
Most of the managers are usually giving money in some form.
But my opinion is that money is not everything.
As a people manager I have to know my people. Every person is different and every of them have different motivation. If I want to reward them I have to know what they really want and what motivates them.
For example there would be a good performer who can be more motivated if I give a personal parking slot in the company garage and this motivates the person more than a one time money reward.
Or the other person will be motivated if I give him a raise in his health assurance instead of salary raise.
Or some team member would be absolutely happy without money if he is getting higher level responsibility in his work.
I know that almost every reward solution generate extra cost in my budget but the reward should not be always direct money payment to the person who earned a reward.
The most important part of a good award system that it should be personalized.