Motivation and Reward System Essay

1212 Words 5 Pages

Some people think, to measure a company success, is base on the profit that this company earns. But nowadays, this attitude should be changed due to the market changing. To compare with before, profit is a important factor for a company, but it is not the most important. For a company staff has become the stanchion to decide company life. Under this background, motivation and reward system has been used for the company, but no two companies using the same motivation. Motivation and reward system help staff work more efficiency, also, the system can attractive more key staff, who have got high degrees or prefect skills. Motivation and reward system has become two important systems for company operation management. This
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Comparative Rate to solve the problem operation cost with high salaries

We can find, higher salaries results in higher operation rate. In order to solve this problem, Nokia using a important parameter in reward system, that is comparative rate. The formula of this rate is : the average salary for Nokia staff/ average salary for industry level. If the result is bigger than 1, which means Nokia salary exceed industry same level staff salaries. If it is smaller than 1, which means salary are not exceed. This rate can help Nokia to balance the cost.

Higher salaries for high level staff

In Nokia reward system, these has a new theory called key staff management, basic on the level of staff, the salary will be higher or lower. The level of staff can get is come from general work record and motivation system award.

Local culture and humanization reward

"Spring festival 600RMB, new year200 RMB, Moon cake 300RMB, staff birthday 400RM etc."

All the activities shows the company respect and understand to staff, and "staff birthday" reward let staff happier and confidence to work harder. On the other hand, staff will be more satisfied, this is another flare spot for Nokia reward system.

Diversification motivation system

Telecommunication industry is high talent moves industry, how to motivate good staff is an important operation management for Nokia. Nokia not only

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