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What do you do if your Payment Systems evaluation is not boosting employee engagement and job satisfaction?

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Payment systems are the methods and processes that organizations use to compensate their employees for their work. They can include salary, bonus, commission, benefits, recognition, and other rewards. Payment systems should be aligned with the organization's goals, values, and culture, and should motivate and engage employees to perform well and feel satisfied with their jobs.

However, sometimes payment systems may not have the desired effects on employee engagement and job satisfaction. For example, employees may feel that the payment system is unfair, unclear, inconsistent, or irrelevant to their performance or contribution. Or they may feel that the payment system does not reflect their needs, preferences, or expectations. Or they may feel that the payment system does not provide enough feedback, recognition, or growth opportunities.

If you are facing these challenges, you may need to evaluate your payment system and make some adjustments to improve its impact on employee engagement and job satisfaction. Here are some steps you can take to do that.

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Iain White

Tech Consultant | IT Leader | Mentor | Virtual CTO | Leadership Coach | Project Manager | Scrum Master | IT Strategy |…
M. Faisal Khan Khakwani

HR Team Lead @ TAFGA-Saudi Arabia ???? || Certified HR Professional (CHRP) || IOSH Certified || Certified Recruiter ||…
Dr. Hosam AbouElDahab

Chief Technology Officer | Fintech | Digital Financial Services and Financial Inclusion

1 Assess the current situation

Assessing the current situation and identifying the strengths and weaknesses of your payment system is the first step. To do this, you can use surveys, interviews, focus groups, performance reviews, benchmarks, and analytics to gather data and feedback from different sources. You should aim to answer questions such as: how do employees perceive the payment system? Does it motivate them? Does it reward them? Does it align with their goals? How does it fit with the organization's strategy, culture, and values? Does it support them? Does it reinforce them? Does it differentiate them?

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M. Faisal Khan Khakwani

HR Team Lead @ TAFGA-Saudi Arabia ???? || Certified HR Professional (CHRP) || IOSH Certified || Certified Recruiter || Soft Skills Trainer || HR Consultant || Ex-HR Manager @ Ramada by Wyndham ???? ||
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The most important thing in this situation is the analysis of the current situation. The most effective result through surveys or interviews etc will be beneficial in monitoring the current situation. Then the solution for the problem to be found exactly that where is the barrier and most importantly the solution to be implemented properly.

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Dr. Hosam AbouElDahab

Chief Technology Officer | Fintech | Digital Financial Services and Financial Inclusion
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you should identify specific pain points and gathering feedback from employees, businesses can gain valuable insights into underlying issues and determine appropriate strategies for improvement. This proactive approach lays the groundwork for targeted interventions that can positively impact employee morale and overall satisfaction.

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Shree Ram Raut

I help Founders & Businesses empowering Investment, Tax, & Process Improvement | Chartered Accountant & SEBI (RA-INH000012537) | Virtual CFO | Ex-Deloitte | Follow for FinTax Solutions
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The following step up system can be followed to makeover the current systems: 1. Check the AS-IS Process of the Company 2. Check for the gaps 3. implement new changes

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Mohamed Abdallah

Senior Marketing Lead | B2B Marketing Expert | B2B Growth & Demand Generation | Product Marketing | Fintech Enthusiast | Payments Expert | Digital Strategy & Brand Positioning
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Offer training and support to employees to help them better understand the Payment Systems being evaluated and improve their performance in relevant areas.

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Mohamed Abdallah

Senior Marketing Lead | B2B Marketing Expert | B2B Growth & Demand Generation | Product Marketing | Fintech Enthusiast | Payments Expert | Digital Strategy & Brand Positioning
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Shift the focus of the evaluation process from solely assessing performance to also promoting employee development and growth.

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2 Define the desired outcomes

The next step is to define the desired outcomes and objectives of your payment system. You should consider what you want to achieve, both for the organization and for the employees, and how you will measure and evaluate the success of your payment system. You should aim to answer questions such as what key performance indicators (KPIs) you want to influence with your payment system and how you will track and report them. Additionally, what key behaviors and competencies you want to encourage and reward with your payment system, how you will assess and recognize them, as well as what key needs and expectations you want to meet and exceed with your payment system and how you will communicate and deliver them?

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Dr. Hosam AbouElDahab

Chief Technology Officer | Fintech | Digital Financial Services and Financial Inclusion
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Outlining the goals and expectations of the evaluation process clearly , organizations can align efforts towards improving employee morale, motivation, and overall satisfaction. This clarity helps focus initiatives on meaningful changes that positively impact both employees and the organization's success.

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3 Design the optimal solution

The third step is to design the optimal solution for your payment system. You should consider the best practices and trends in payment systems, as well as the characteristics and preferences of your organization and employees. Additionally, you should assess the costs and benefits of different options and scenarios. To do this, you should ask questions such as: what are the main components and features of your payment system? How will they work together? What criteria and rules will be determined? How will they be applied? What tools and resources are necessary for your payment system? How will they be used? How will they be supported? Answering these questions can help you design an effective payment system.

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Iain White

Tech Consultant | IT Leader | Mentor | Virtual CTO | Leadership Coach | Project Manager | Scrum Master | IT Strategy | Digital Transformation | IT Governance | Agile | Lean | Theory Of Constraints | SaaS | Brisbane.
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If a payment system evaluation doesn't enhance employee engagement, redesigning the system is crucial. Consider best practices, organizational needs, and employee preferences. Assess various scenarios' costs and benefits, focusing on essential system components and their integration. Ensure the criteria and rules are clear and the necessary tools are effectively utilized. In my experience, involving employees in the design process not only tailors the system to real needs but also boosts engagement by making team members feel valued and heard. This approach leads to a more effective and satisfying payment system.

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4 Implement the change

The fourth step is to implement the change and launch your new or improved payment system. This involves planning and executing a change management process, with all relevant stakeholders bought in and committed. You should also monitor and manage any risks or challenges that arise during the transition. To ensure success, you must answer questions such as: how will you communicate and explain the change to employees, train and educate them on the new or improved payment system, equip them with necessary skills and knowledge, support them during the learning curve, evaluate and adjust the new or improved payment system, collect and analyze data and feedback, as well as make necessary modifications and improvements?

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5 Celebrate the success

The final step is to celebrate the success and recognize the achievements of your new or improved payment system. Acknowledge and appreciate the efforts and contributions of everyone involved in the change process, and share the results and outcomes with them. It's also important to reinforce and sustain the positive effects of your payment system on employee engagement and job satisfaction. Consider questions such as how you will celebrate and reward employees for their performance, how you will share success stories, how you will maintain alignment with your organization's goals, values, and culture, and how you will keep it relevant to changing needs and expectations.

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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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Ahmed Fakeeh

IT Infrastructure Management | IT service management (ITIL) | Digital?Transformation | Project Management | Collaboration professional ( Cisco and Avaya call?managers) | Vendor Management | Scrum Master
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Continual improvement You should have phases where there will be improvements and a break to evaluate the success after which further improvement are made. It is a powerful tool/process to enhance performance of payment system and achieve better feedback and engagement.

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What do you do if your Payment Systems evaluation is not boosting employee engagement and job satisfaction?

1

2

3

4

5

6

1 Assess the current situation

2 Define the desired outcomes

3 Design the optimal solution

4 Implement the change

5 Celebrate the success

6 Here’s what else to consider

Payment Systems

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What do you do if your Payment Systems evaluation is not boosting employee engagement and job satisfaction?

1

2

3

4

5

6

1 Assess the current situation

2 Define the desired outcomes

3 Design the optimal solution

4 Implement the change

5 Celebrate the success

6 Here’s what else to consider

Payment Systems

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