The global environment has numerous challenges mostly to organizations that face intense pressure due to stiff competition in the market. It is, therefore, imperative for such organizations to develop long-lasting strategies that can counteract such threats. These strategies can be developed internally in order to boost morale in various departmental units in an organization. The initiatives that can be carried within an organization need to have a direct impact on employees, in terms of recognition, in which their efforts and inputs in various activities are rewarded. It is a strategy that human resource professionals can use to retain and motivate a workforce in order to achieve great organizational performances. Employee reward programs are such incentives that play a key role in enhancing employee performance, while incentives are programs designed to help employers compensate the efforts made by the employees (Hartman et al 5). These can be done through bonus schemes, career development options, and outreach programs. In bonus schemes, employees would earn bonuses for the extra number of hours spent on strategic stores operating at given hours. This would enhance morale among employees in order and, as a result, great performance would be achieved by the company.
Career development options also play a key role since it motivates employees to achieve career goals in their lives. This is because it opens opportunities for more company benefits and overall self-satisfaction in one’s career. On the other hand, the outreach program would ensure that the company develops strategies of collecting issues. This would help in solving grievances, and as such employees would feel appreciated. Employee reward programs are suitable for Wal-mart. This is due to the impact interns of
increasing work performance, and fostering commitment to organizational policies, hence the best HR strategy to use, in order to stimulate employees in achieving organizational goals.
Hartman, Ronald J, Elaine M. Kurtz, and Elizabeth K. Moser. Incentive Programs to Improve Transit Employee Performance. Washington, D.C: National Academy Press, 1994. Print.