Some employers reward members of staff for their exceptional contribution to the company by giving them extra money. This practice can act as an incentive for some but may also have a negative impact on others. To what extent is this style of management effective? Are there better ways of encouraging employees to work hard?
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Some companies try to encourage their team ,who contribute best to the company by giving bonus money .
Although
this
may encourage some part of the staff
, another part can get discouraged with this
. However
, by using this
manner the effects and the efficacy of most workers
can be uplifted and apart from this
approach , we can use promotions
of the staff
to encourage them as well . In the following ,essay this
writer wishes to elaborate further
on this
topic.
To begin
with , when we consider the effectiveness of giving bonuses to the staff
, most of the time it will lead to positive developments . Apart from the fact that this
may increase the enthusiasm of the workers
, it will also
increase the effectiveness of the workers
as well . For example
, according to a study conducted by the Central Bank of Sri Lanka , there has been a 15% increase in the effectiveness of their team after giving them a bonus in the previous year.
On the other hand
, apart from giving money for gain best of their workers
, most companies try to give promotions
to their employees depending on their experience and the quality of work. Although
, this
may give them a small salary hike , most workers
like this
method
since they could get other benefits like transport with promotions
.To illustrate this
, according to a study conducted in a leading garment factory in Sri Lanka , most of the section managers have voted on promotions
rather than year-end bonuses, since they may get a car when they promote to the next
step .
In conclusion , even though some team members may not like it, giving bonus money to employees is a good method
to uplift their productivity . Apart from this
, implementing a good promotion method
is also
a proven method
to encourage the staff
to work hard.Submitted by mngldissanayaka on
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