Reference no: EM133340131
Every program has risks associated with it. Review your idea and provide a risk analysis. What are the potential risks involved with this program, and what processes can be put in place to manage these risks? One specific risk that I want you to discuss is related to cultural differences. Please assume that your company is a multinational corporation...will this program work in all areas of the business? If not, how can it be adapted for the other country/countries involved?
My proposal for Destinee Co. is to implement a reward program for 50 employees who meet specific performance goals. Employees want to feel heard, that their families are cared for, that they have enough time off, and that they are appreciated. Overall, the goal of this program will be to motivate employees while instilling a healthy level of competition. Some employees may prefer time off over monetary compensation. I will tailor my rewards program to each employee's specific wants or needs. An employee who believes that their needs are being met will overperform. Employees who arrive on time for work and go above and beyond in their current job position meet performance goals. Employees will be rewarded through salary increases, gift cards, awards, or time off for reaching certain milestones or meeting specific goals under this program. The cost of implementing this program will be the cost of the rewards, such as bonuses or other incentives. The benefit of this program is that it will provide an incentive for employees to strive to achieve their goals, resulting in increased productivity and profits for the company. The final component of my proposal will be a monthly check-in. I will sit down with each employee individually and go over any issues they may be having, ensure that their families are well, that their needs are met, and that I take the time to let them know how their performance was for the month.
Employee dissatisfaction if the goals are unattainable or the rewards are perceived as inadequate, or employee burnout if the goals are too demanding, are potential risks associated with this proposal. Furthermore, the program may attract employees who are more motivated by the rewards than by the work itself, or employees may become overly preoccupied with achieving their own goals rather than the company's overall objectives.