It is important to continually review the requirements of the reward system and make changes to ensure that it remains relevant and contributes to employee motivation and productivity.
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In modern Russia, company managers are faced with the problem of not paying enough attention to talented employees. After borrowing the experience of Western companies, where employees can work for decades, in Russia a change in motivational approaches turned out to be necessary after the departure of the Soviet motivation system. The goals of the reward system should correspond to the individual achievements of employees, especially if their efforts bring significant profit to the company.
The episode of the employee who deserved a higher payment in the innovation reward system highlights the importance of adequately rewarding key talent. Insufficient recognition can have a negative impact on staff morale and their motivation to continue contributing to the company's success.
Among the current methods of motivation that can be adapted and implemented within the framework of developing a reward system at Russian enterprises, experts highlight the following:
extended health insurance, which creates individual packages with full or partial coverage of medical services, which encourages employees to take care of their health;
dental insurance, which is very valuable due to the high cost of similar services;
building up savings in case of exceptional medical circumstances, which is a long-term incentive and gives employees confidence in the future;
the possibility of paying for several sick days a year without issuing a sick leave certificate, increasing the periods of short-term and long-term disability, as well as life insurance.
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Factors Contributing to Successful Implementation of a Reward System
All factors together determine how successfully potential difficulties in implementing changes to the company's reward system will be analyzed and predicted and how obstacles to the status quo will be minimized.
Understanding the purpose of change
To minimize resistance to change in the company, management must clearly understand and justify the goals of the reward system. It is important to clearly explain to employees not only the fact of the change, but also the reasons behind it, to ensure understanding and support for the innovations.
Managing Change
Designing a reward system should include a phase of analyzing potential resistance and developing strategies to overcome it. Effective change management often requires the involvement of senior managers to ensure the credibility and significance of the project among employees.
Involvement in the process
Involvement of all levels of management and employees in the process is important to ensure the successful implementation of changes. Providing employees with the opportunity to participate in the process and offer their own ideas increases their personal interest in the success of the enterprise.
Focusing on priority goals
For compensation changes to be success