By: Simon Ha
The organization that I chose to explain what recognition and reward plan they have for the employee’s is McDonald’s. McDonald’s is a fast food chain owned by different people because it’s a franchisee company. With it being a franchisee, it is one of the world’s biggest well known fast food restaurant. It has over 36,000 location worldwide, serving over 100 countries and with millions of employees (Mcdonald's, 2016), they offer a reward system to make their employees to stay and create more and more business each day.
McDonald’s offer a pay & rewards program to their employees. McDonald’s philosophy to this program is “The better your results, the greater ...view middle of the document...
If the employee is eligible, they can choose from a variety of vehicles depending on their position within the company. This car program, covers the cost of insurance, maintenance and repair on the vehicle (McDonald's, 2016).
The purpose of the base pay is to show the employee their work is recognized by how much they get hourly. The purpose of short-term incentives is to get the employees to perform better with customer service and generate more revenue for their McDonald’s location so they can earn bonus cash compensation each year. The purpose of long-term incentives is to show long term employees they matter by granting them a LTI stock in exchange for better future performance. The purpose of the recognition program is to recognize the hard working employees behind the restaurant, meaning the ones who create business deals around the world and making each restaurant successful. The purpose of the company car program is to help employees to commute to work better and helps them with their personal commute. The specific outcome the plan is designed to achieve is to keep the employees to stay longer and show even though McDonald’s is a fast food restaurant they can offer rewards to their employees just like other big companies.
The type of rewards offered that will achieve the intended outcome(s) is the short-term incentives, recognition program and the car program. The short-term reward will achieve the intended outcomes because the employees are basically getting bonus pay on their pay cheque and who doesn’t like extra money? With the bonus cash compensation, the employee’s will likely stay longer and try to perform better so they can get more cash compensation. The recognition program will achieve the intended outcome because everyone wants to be recognized for their hard work they put into the company. Being recognized for one’s hard work is what everyone wants when...