Here is the synopsis of our sample research paper on NON-MONETARY REWARDS AND RECOGNITION. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 4-page paper offers some suggestions as to what types of non-monetary recognition rewards programs can be initiated in the workplace, and factors needing to be considered for initiation. Also discussed briefly are team recognition program. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTnonmon.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
completed. Having said that, there are also times during which a company, department or unit might not have a whole lot of control, from a financial standpoint, over developing such
a system to reward the good behavior of good employees. This is when non-monetary, performance-based reward systems are implemented. There are
many advantages to such a system, not the least is that it doesnt cost much in the way of resources. Additionally, some employees tend to regard performance-related pay with increasing
skepticism, especially when it comes to individual reward, as opposed to team rewards (Armstrong, 1996). Experts point out that individual rewards tend to harm an overall effort in two ways
-- first, it tends to encourage individuals to focus on their own accomplishments, rather than those of the team (Armstrong, 1996). Second, it forces managers to relate to their employees
as individuals, rather than what the team can do as a unit (Armstrong, 1996). Its also believed that while cash awards do
offer "a quick jolt of satisfaction," the "feel-good staying power" tends to dwindle pretty quickly once the money is spent (Parker et al, 2000, 96).
Merck & Co., for example, has realized the motivation that non-cash team rewards has brought to the company (Parker et al, 2000). It has implemented, for example,
something called "Reasons to Celebrate," involving a peer-nominated recognition plan, that allows teammates to recognize other teammates for putting extra effort into a project, as well as to show everyone
else how wonderful the overall team is (thanks to this particular person being honored) (Parker et al, 2000). All Merck employees are eligible for the program, and nominees are selected
...