A Look at Performance Related Compensation and How It Motivate Employ
The performance related compensation (PRC) of employees can have a significant impact on an organisation's performance profile, and focusing on this can boost the overall profile of the company. According to Charlie Trevor, a professor at Wisconsin School of Business, money motivates people. So, why do you need to give employees bonuses and other types of rewards? In this article, you will learn about the various types of PRC and how they affect employee motivation.
Other Symbolic Methods of Recognition
Symbolic rewards have widely used in the workplace to motivate employees and foster a competitive environment. For example, an employee may receive a monthly gift basket, but does not get additional pay or perks. Instead, he or she earns pride in owning the prize. These types of rewards a...