Ways to make jobs rewarding

THE way people are rewarded for the work they do needs to change if business is to efficiently navigate the economic downturn.

While it may be tempting for business to simply reduce financial reward in response to the economic downturn, a longterm strategic view that blends financial and non-financial reward is recommended.

People are the biggest asset to any business,” says Peet Kruger, an executive committee member at the South African Reward Association.

Business therefore needs to keep in mind that the way they reward their people has a direct effect on how their goals are achieved, Kruger says.

Reward management must link directly to the changing needs of employees as it affects their ... commitment.”

Reward management takes into account more than just current basic pay; it also looks at what people need to be productive and positive in their work environment.

Kruger highlights three key areas where organisations should focus on building a reward regime that rewards people in recognition of them being the business’s greatest asset: 1. Non-financial rewards The economic downturn has seen many people remain in jobs purely for the salary, not because they are committed to or passionate about their work.

One example of a non-financial reward could include working from home some days of the week if the position doesn’t require daily face-to-face interaction or hands-on operational duties. 2. Understand reasons for widening wage gap One of the most dominant issues impacting on employee satisfaction is the wage gap,” says Kruger.

While management believes that people need to be rewarded for performance, unions want their members to make a living.”

This gap is widening as a result of lack of understanding of the emotional driving forces behind opposing views. Only once the focus shifts towards gaining a true understanding of the opposing view could strides be made towards a balanced resolution. 3. Business must be flexible and adaptable An excellent reward strategy is an art, not a science. Business has to be flexible and capable of adapting to changes in legislation, transparency or employee behaviour as there remains a growing disconnect between labour and management.