Reward and Recognition Systems

Paper Summary:

This paper presents a rewards and recognition system for First Bank. It explains that this system will allow First Bank to, not only survive in the new electronic age, but also thrive in that environment. Specifically the paper looks at the present situation confronting the financial organization as well as the present state of the organization itself.

From the Paper:

"There can be little question that adequate organizational change can only occur in situations wherein adequate reward and recognition systems are in place; without these systems, changing attitudes and behavior becomes extremely difficult - if not impossible. With this in mind, the following paper will include six key components: it will discuss the organizational background of the business entity being examined; it will provide analysis of the organization and its environment and what rewards system will best allow it to facilitate healthy organizational change; it will unveil a reward system proposal which is simultaneously feasible and necessary; it will present a metrics system which will permit comprehensive evaluation and assessment of employee performance; it will disclose an implementation strategy which should be both straight-forward and expeditious; finally, the paper will briefly review the lessons learned from the project. As should become apparent, the key to any organization is to ..."

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