Choose An Organization You Are Interested In

Hra 360choose An Organization That You Are Interested In And Familiar

Hra 360choose An Organization That You Are Interested In And Familiar

HRA 360 Choose an organization that you are interested in and familiar with (this may include your current job). Discuss how this particular organization currently uses short term and long term incentives to motivate employees. Be sure to address the following: · What type of organization is it? (if you prefer, you may withhold the name of the organization) · List and briefly describe the short term incentives the organization offers. · List and briefly describe the long term incentives the organization offers. · How are these incentives used to motivate employees? (Are they effective? Why or why not?) · Suggest several specific ways that new or different incentives would further motivate employees and benefit the organization as a whole. · Use references from both the textbook and outside sources to support why you think your suggestions would be benefit this organization. Specifically: · How realistic were your peers’ suggestions for added incentives? Why? · What were the best suggestions that your peers made? · What suggestions would you add to your peers’ incentive plan? · What information did your peers overlook in their responses to this issue?

Paper For Above instruction

Choosing a familiar organization provides an insightful opportunity to analyze and understand the strategic use of incentives in motivating employees. For this analysis, I have selected my current workplace, a mid-sized manufacturing company specializing in consumer electronics. Understanding how this organization uses short-term and long-term incentives reveals the underlying motivation strategies that support its productivity and growth objectives.

The organization primarily functions as a private, profit-driven enterprise with a clear focus on innovation, quality, and customer satisfaction. Its incentive programs are designed to align employee performance with organizational goals, fostering engagement and productivity.

Short-term Incentives

The company employs several short-term incentives, including performance bonuses, spot awards, and commission-based incentives for sales teams. Performance bonuses are awarded quarterly based on meeting specific targets related to productivity, quality standards, or customer satisfaction metrics. Spot awards are spontaneous recognitions provided immediately after exceptional performance or contributions, often in the form of monetary rewards or gift cards. Sales commissions are directly tied to individual sales performance, motivating sales staff to increase their efforts and achieve monthly or quarterly sales targets.

Long-term Incentives

Long-term incentives at this organization include stock options, profit-sharing plans, and career development programs. Stock options are offered to senior employees and management as part of their compensation package, aligning their interests with long-term company success. Profit-sharing plans distribute a percentage of the company's annual profits to employees, fostering a sense of ownership and collective responsibility. Additionally, the organization emphasizes career development through training programs and educational reimbursements, encouraging employees to enhance their skills and remain committed to the company's future.

Utilization and Effectiveness of Incentives

These incentives are strategically used to boost motivation by rewarding both immediate achievements and long-term commitment. For example, performance bonuses and spot awards encourage employees to excel in their daily tasks, while stock options and profit-sharing foster loyalty and a broader sense of purpose. Feedback from employees indicates that these incentives are generally effective; however, some report that short-term incentives can sometimes lead to a focus on immediate results at the expense of long-term quality. Conversely, the long-term incentives contribute to retention and alignment with organizational strategy.

Suggestions for Improving Motivation

To further enhance motivation, several new incentive strategies could be implemented. Introducing team-based incentives could foster collaboration and collective accountability, especially among departments working on integrated projects. Implementing flexible work schedules or remote work options can also serve as non-monetary incentives that improve work-life balance, leading to increased job satisfaction.

Additionally, incorporating personalized recognition programs, such as tailored awards or career advancement opportunities, would address individual motivators more effectively. Establishing innovation incentives, where employees are rewarded for suggesting process improvements or new product ideas, could stimulate creativity and ownership.

Supporting Evidence and Peer Suggestions

Research indicates that incentive programs need to be realistic and aligned with employee values to succeed. Peer suggestions for adding wellness bonuses or peer-recognition programs are quite feasible; they tend to be cost-effective and resonate with employee preferences for holistic well-being. The most effective peer suggestions involve integrating social recognition and intrinsic motivators such as autonomy and mastery—concepts supported by Deci and Ryan’s Self-Determination Theory (2000).

I would add a mentorship incentive program, encouraging experienced employees to mentor others, fostering knowledge transfer and leadership development. Some peer responses overlooked the importance of ensuring fairness and transparency in incentive distribution, critical for maintaining trust and motivation.

References

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