Reward Strategy: Reasons and Perspectives Essay

Custom Student Mr. Teacher ENG 1001-04 14 February 2017

Reward Strategy: Reasons and Perspectives

Modern business environment is famous for various new trends. An environment where the businesses used to hire employees for the sake of monetary benefits only is now changed in multi dimensional and multi pronged environment. Now business are not run for the sake of money and short term financial benefits only but for a long time sustainable growth and development. Now the only focus of all business is customer and Customer Satisfaction. This Customer Satisfaction (CS) cannot be achieved without proper involvement of internal customers i. e. , employees.

Companies start their business philosophy from their main goals or objectives and make clear statements showing their mission and values. All lateral developments are performed on the basis of these predetermined values. Modern businesses focus only on customer satisfaction and this is the core concept of business as well. Who is Responsible for Customer Satisfaction? Now question is the responsibility of achieving customer satisfaction without any failure. Many plans are made for wining customer satisfaction, but all would be failure if company is not sure about the persons, method and tactics of achieving customer satisfaction.

Whole management and its team is responsible for achieving business results so is the customer satisfaction. Modern management has no doubt in it that customer satisfaction can only be achieved if all employees regardless their departments work hard to satisfy customer. Conclusion is all employees are responsible for achieving and maintaining customer satisfaction on long term basis. How would Employees work for Achieving Customer Satisfaction? Employees are important for achieving customer satisfaction then the responsibility comes how these employees should work for achieving high standards of customer satisfaction?

It’s an open secret that employees mainly intend to work for the physical work giving to them according to their job description. Though companies make different efforts to ensure quantitative and qualitative efforts to ensure performance of employees but there is not specific way to know how do employees behave and work for achieving customer satisfaction. As per Hertz Berg’s two factor motivation theory, people treat salary and working environment as routine requirement of their jobs and don’t fee motivated on the basis of nominal salaries.

For doing something extra, they need motivation and for motivation they need to be given something extra by the employer. To overcome problems and obstacles on their way to customer satisfaction, companies design a special approach to involve employees into their challenging task of customer satisfaction. Reward Strategy Why do people work is the question often answered differently by all respondents. Few people surely confirm the cause of their work, mostly are trapped in wordy reasons like, just to make my life comfortable, to earn my livelihood, to support my family, to spend my spare time or to establish myself.

Business psychologists still fail to understand the only common reason among people who work at different places. Similar to the concepts of employees, business researchers and scholars are also divided on certain human needs and employees’ concern bout growth. But all researchers and business psychologists are of the opinion that rewards really award. If you give rewards to your employees reward, they will award business with better results. Various rewards to employees make different behavioural and motivational changes in their personalities.

Almost modern business and non-business organizations believe in good reward system that would base on financial compensation or Remuneration, certain benefits regardless their job hierarchy and business status, and perquisites of different types based on hierarchy. These three factors make the most successful blend of modern reward package. As such package is a motivating blend of financial and non-financial benefits, this suites majority of people.

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  • Date: 14 February 2017

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