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How can you ensure your reward system is fair?

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A reward system is a set of policies and practices that aim to motivate and retain employees by recognizing and rewarding their performance, contribution, and achievements. However, not all reward systems are fair, and unfairness can have negative consequences for employee engagement, satisfaction, and productivity. How can you ensure your reward system is fair? Here are some tips to help you design and implement a fair reward system in your business.

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Nico Wittig

Zeit gewinnen fürs Wesentliche | Durch effektive Vernetzung ALLER deiner HR-Systeme | Partner @ HR Autopilot | HR-Tech…
Mariana Lolato

IT Services Operations Manager | IT Business Analysis
Akansha M.

Human Resource | People & Culture Leader | CIPD Level 5

1 Align rewards with goals

One of the key aspects of a fair reward system is that it aligns rewards with the goals and values of the organization and the employees. This means that rewards should be based on clear and measurable criteria that reflect the desired outcomes and behaviors, and that rewards should be consistent with the expectations and preferences of the employees. For example, if your goal is to foster teamwork and collaboration, you should reward team performance and cooperation, not individual competition and achievement. Similarly, if your employees value autonomy and flexibility, you should reward them with options and choices, not with rigid and fixed rewards.

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Nico Wittig

Zeit gewinnen fürs Wesentliche | Durch effektive Vernetzung ALLER deiner HR-Systeme | Partner @ HR Autopilot | HR-Tech | Automatisierung | Schnittstellen | Datenimporte | Unified Data
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Die Herausforderungen ist, dass Belohnungen nicht für jede Person gleich wahrgenommen werden und das Knüpfen von Belohnungen an Ziele bereits das Setzen der Ziele beeinflusst. Wenn Person A die Wahrscheinlichkeit für 100% Zielerreichung erh?hen will, kann die versuchen ihr Ziel niedriger zu definieren. In diesem Fall w?re eine Verknüpfung dysfunktional. Das Setzen von herausfordernden Zielen sollte also inzentiviert werden. Hierbei ist zu beachten: nicht überall funktioniert dies. Vertriebsziele sind einfacher zu bestimmen als Ziele für verwaltende T?tigkeiten. Zudem gibt es Personen, deren intrinsische Motivation durch externe Anreize (künstliche Ziele) verdr?ngt wird. Es ist also wichtig die Motivstruktur der MA zu kennen.

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Akansha M.

Human Resource | People & Culture Leader | CIPD Level 5
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Indeed, aligning rewards with goals is essential for organisations to ensure behaviours and desired outcomes are connected to the overall value of the organisation. This not only encourages individuals to adapt and strive for rewards but also motivates others to follow them. Therefore, a rewarding culture aligned with reward principles-fairness, transparency, and consistency-ensures that the employees compete effectively, becomes more productive, engage everyone, foster retention, and positively impact organisational revenue and growth

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Romelia Marquez

Resource Specialist @ FPT Latin America | Training, Metrics, Motivation
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Matching goals and rewards has, in my experience, changed everything. In my previous work experiences, our compensation system changed, where teamwork was essential, to prioritize group accomplishments above individual ones. This greatly improved our performance as a whole in addition to encouraging a sense of teamwork. Building trust required open communication; doing so by clearly outlining the requirements and include us in the selection process. Regular system assessments made sure it remained effective, and the harmony between rewards and other aspects created a setting that was both very motivating and rewarding. A fair compensation system is a culture that empowers and values its people, not merely a set of rules.

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Felix A.

Gerente de Compensacion variable | Dise?o de planes de incentivos | Comisiones | Compensaciones
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-Poner metas alcanzables en cada rango del incentivo dependiendo del comportamiento histórico. -Definir el porcentaje de la población a participar. -Analizar la distribución poblacional en cada rango para ver que los que hacen más ganen mas, que la distribución tome una forma piramidal. -Definir las variables que tendrá el incentivo tanto las que se quieren impulsar como las que se quieren mitigar

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2 Communicate rewards transparently

Another important element of a fair reward system is that it communicates rewards transparently and openly. This means that rewards should be explained and justified to the employees, and that employees should have access to information and feedback about the reward system and their performance. For example, if you use a performance appraisal system to determine rewards, you should communicate the criteria, standards, and methods of evaluation to the employees, and provide them with regular and constructive feedback on their performance and reward outcomes. Transparency helps to build trust and credibility, and to avoid confusion and resentment.

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Mariana Lolato

IT Services Operations Manager | IT Business Analysis
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A leader should be able to communicate how the reward process works to all teammates in the company - it should be clear so everyone knows what they can receive and how. And communicating the process is not enough: a leader should come up with a plan for every teammate on how they can achieve the top rewards in that year and be sure to be the one fostering this achievement frequently.

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3 Involve employees in reward decisions

A third essential factor of a fair reward system is that it involves employees in reward decisions and processes. This means that employees should have a voice and a say in how rewards are designed, allocated, and delivered, and that employees should have opportunities to express their opinions and preferences about rewards. For example, if you use a bonus system to reward employees, you should consult them on the goals, targets, and indicators of the bonus scheme, and allow them to choose among different types of bonuses. Involvement helps to increase ownership and commitment, and to enhance satisfaction and motivation.

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4 Review and adjust rewards regularly

A fourth critical component of a fair reward system is that it reviews and adjusts rewards regularly and systematically. This means that rewards should be monitored and evaluated for their effectiveness, efficiency, and equity, and that rewards should be updated and modified according to the changing needs and circumstances of the organization and the employees. For example, if you use a recognition program to reward employees, you should track and measure the impact of the recognition on employee performance and engagement, and adjust the frequency, form, and content of the recognition accordingly. Review and adjustment helps to maintain relevance and responsiveness, and to prevent stagnation and dissatisfaction.

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Danilo Padrón

People Experience Senior Regional Manager | Human Resources Management
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Este punto es muy importante, quizás lo que te ha venido funcionando no tendrá el mismo efecto en unos meses o a?os, lo clave es mantenerse al día y en tendencia no solo con las buenas prácticas de mercado sino regularmente y a través de tus encuestas internas, focus group y analítica de gente, debes saber si esos sistemas de recompensas están teniendo o no el mismo impacto en tu gente. Muchas organizaciones fallan al quedarse con estos comentarios “siempre se ha hecho así” o “si ha funcionado porqué cambiarlo?”

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5 Balance rewards with other factors

A fifth vital aspect of a fair reward system is that it balances rewards with other factors that influence employee motivation and retention. This means that rewards should be complemented and supported by other aspects of the work environment, such as leadership, culture, communication, development, and well-being. For example, if you use a salary system to reward employees, you should also provide them with opportunities for learning and growth, a supportive and respectful culture, and a healthy and safe workplace. Balance helps to create a holistic and integrated approach to employee motivation and retention, and to avoid over-reliance and under-appreciation of rewards.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Nico Wittig

Zeit gewinnen fürs Wesentliche | Durch effektive Vernetzung ALLER deiner HR-Systeme | Partner @ HR Autopilot | HR-Tech | Automatisierung | Schnittstellen | Datenimporte | Unified Data
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Ein Belohnungssystem fair, transparent und offen einzuführen ist ein Prozess der wesentlich mehr Zeit & intensivere Einarbeitung erfordert als den meisten bewusst ist. Definieren Sie also die M?glichkeiten vorab und stellen sie kommunikativ sicher, dass alle Mitarbeiter an ihren Wunsch glauben das System fair zu gestalten. Wenn Mitarbeiter:innen den eigenen Mehrwert nicht sehen oder eine Hidden-Agenda der Gesch?ftsleitung vermuten, kann dies den Gesamtprozess beeinflussen. Eine gute Definition von Zielen & Belohnungen, abgestimmt auf Werte, Artefakte und Kultur des Unternehmens, der Bereiche und Individuen kann die Zufriedenheit und den ?Esprit de Corp“ steigern und damit mit gro?er Wirkung positiv auf die Arbeitgebermarke einzahlen.

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Giles S.

Inexplicably enthusiastic about diamond nitrile | Fascinated by people who make boring jobs run smoothly | BDM @ ACL
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Try putting yourself in the position of each employee one by one. Consider how the reward system affects them, particularly when compared to how it affects others in the team, like management for example. Comparisons are odious, but inevitable. Staff will compare how they are treated to the rest of the team.

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How can you ensure your reward system is fair?

1

2

3

4

5

6

1 Align rewards with goals

2 Communicate rewards transparently

3 Involve employees in reward decisions

4 Review and adjust rewards regularly

5 Balance rewards with other factors

6 Here’s what else to consider

Business Management

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How can you ensure your reward system is fair?

1

2

3

4

5

6

1 Align rewards with goals

2 Communicate rewards transparently

3 Involve employees in reward decisions

4 Review and adjust rewards regularly

5 Balance rewards with other factors

6 Here’s what else to consider

Business Management

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