Explain what type of reward system is utilized..
In today’s turbulent economic times, reward systems, in many organizations, have been revised/modified, thereby resulting in frustration, uncertainty, loss of security, etc. In fact, many organizations have cut base pay, reduced short-term incentives, eliminated long-term incentives, and more. Due to COVID-19, organizations are struggling to maintain financial stability. Unfortunately, employees often feel the brunt of the reward cutbacks.
For this week’s discussion forum, please select an organization of your choice. The organization can be based in the KSA or anywhere else in the world. No student should select the same organization as his/her classmates. In your post, address the following:
Explain what type of reward system is utilized.
Then, consider that a 20% cut needs to be made, in regard to rewards, to ensure organizational success. What types of rewards would you recommend cutting? How might you use intangible returns to make up for monetary cuts? What types of intangible returns could you use? Why?
Embed course material concepts, principles, and theories (require supporting citations) in your initial response along with at least one scholarly, peer-reviewed journal article. Keep in mind that these scholarly references can be found in the Saudi Digital Library by conducting an advanced search specific to scholarly references. Use Saudi Electronic University academic writing standards and APA style guidelines.
Be sure to support your statements with logic and argument, citing all sources referenced. Post your initial response early and check back often to continue the discussion.
You are required to reply to at least two peer discussion question post answers to this weekly discussion question. These peer replies need to be substantial and constructive in nature. They should add to the content of the post and evaluate/analyze that post answer. Normal course dialogue doesn’t fulfill these two peer replies but is expected throughout the course. Answering all course questions is also required.