Reward Systems

Paper Summary:

Reward systems play a pivotal role in the world that we live in. The writer explains how reward systems are used in many different fields, including the business world, the educational system, and in the disciplining of children. This paper explains what makes rewards systems effective. It examines effective reward systems in business and the educational system. The paper focuses on defining reward systems and the expectancy theory. Includes an annotated bibliography.
I. Introduction
A. Purpose of the Discussion
B. Topics that will be Discussed
II. Definition of Reward Systems and Expectancy Theory
III. Reward Systems that are Effective in Business
A. Internal and External Rewards
B. Short Term/Long Term Rewards
C. Reward Systems for Teams
D. Reward Systems and Organizational Performance
IV. Reward Systems that are Effective in Education.
A. Reward Systems for Teachers and Administrators
B. Reward systems for Students
V. Conclusion

From the Paper:

"Another book entitled "Contemporary Career development" asserts that there are other factors behind the use of reward systems in the workplace. The author explains that organizations not only use reward systems to increase productivity and performance, but also to urge potential employees to join the organization and to reinforce organizational structure. (Morrison 1991) The author points out that most companies use short term reward systems for employees.
Morrison (1991) explains that while short term reward systems are effective, long term reward system are usually more beneficial to the overall business strategy and employees. The author explains that effective reward systems "consider the interrelationships among the pattern of organizational career paths; requisite human resource inputs in terms of skills, attitudes, training, and career stages; and organizational life cycles in order to develop the appropriate fit between the reward system and career development system for meeting both short- and long-term organizational objectives."(Morison 1991)"

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