Reward Systems

I have to answer this question below in 250 words. I have been reading the chapter and don’t fully understand this question:

How can you assess employee needs to tailor effective rewards?
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This is an interesting question. Let’s take a closer look. I also attached an article that expands on this response.

RESPONSE:

1. How can you assess employee needs to tailor effective rewards?

Tailoring effective rewards and reward dollars across a workforce is a way to balance organizational and employee interests. Employee reward systems refer “to programs set up by a company to reward performance and motivate employees on individual and/or group levels…and normally considered separate from salary but may be monetary in nature or otherwise have a cost to the company” (http://www.enotes.com/small-business-encyclopedia/employee-reward-recognition-systems).

There are several ways employers can collect information about employee needs to use in tailoring rewards, such as through observation methods, thorough employee surveys and/or feedback or suggestion boxes. Some organizations also have meetings with open discussion about reward systems