Intrinsic and Extrinsic Awards

Click here to load reader

  • date post

    10-Apr-2015
  • Category

    Documents

  • view

    381
  • download

    0

Embed Size (px)

description

Talks about Intrinsic & Extrinsic Awards used in an organisation

Transcript of Intrinsic and Extrinsic Awards

Intrinsic & Extrinsic Motivation Techniques

Team Members: Swapnil (096) Thillai (097) Amol (106) Shalini (080) Richa (064) Rohit (074) Rahul (060)

`

` ` ` `

Coromandel Fertilizers limited is a leading company in India manufacturing a wide range of fertilizers and plant protection products (technical & formulations). Started in1964, Owned by Murugappa Group Total number of employees 357 Total number of factory workers 225

`

Organisational success is driven by satisfied & motivated employees.

`

Satisfaction & motivation can be enhanced through rewards & recognition.

Any organizational reward system has three behavioral objectives: 1. membership behavior to recruit and retain a sufficient number of qualified workers 2. task behavior to motivate employees to perform to the fullest extent of their capabilities 3. compliance behaviour to encourage employees to follow workplace rules and undertake special behaviours beneficial to the organizations without direct supervision or instructions

`

Intrinsic motivation :refers to motivation that comes from inside an individual rather than from any external or outside rewards, such as money or grades.

`

Extrinsic motivation :comes from outside of the performer. Money is the most obvious example, but coercion and threat of punishment are also common extrinsic motivations.

Awards at Coromandel Fertilizerds limited

`

Team Awards:Gallop T-12 Questionnaire Team with highest score team will get the award

`

Zone wise awards:Company divided in 14 zones 5S award after audit

`

Individual Awards:Fast Track employees- Blue eyed employees Succession planning ELP- Executive Leadership Programx 24 from whole group

BLP-Business Leadership Programx 7 employees

Best Employee of Department known as Maximizer Birthday mail & Poster

Intrinsic Awards`

`

Unsung Hero Appreciated in In-house magazine Recognition given to Family of EmployeesChildrens performance flashes on companys portal system& printed in magazine

`

Long Service AwardsPeople above 25 years of experience

`

Suggestion AwardsBest Suggestion Highest number of implemented suggestions

`

Recognition of 5S auditorsBoth management & Workers

` `

Regular yearly Appraisal Best performer of the yearAward money Rs. 60,000 Given to 2 management staff & 2 workers

`

MaximizerGiven to 3 top performers of the company Based on 17 factors & weight age is different for all factors which is not known to even department head Award money Rs.15000

`

Fast track employeesget promotion every 6 months with variable pay

`

Performance bonus at the end of year

` ` ` ` ` ` ` `

Tailor rewards to individual interests, needs, desire Senior management support and involvement Include employees/managers in design and implementation Keep programs simple and easy to administer Match the reward to the achievement Communicate, Communicate, Communicate! Be timely and specific Make sure each employee understands what they did to earn the reward