Portfolio Project - APA - More than half the work is completed Already!

Portfolio Milestone 5: Reward System Linked to Product Innovations

A reward system will be highly essential in an organization since it will make the organization to perform adequately and be innovative as well. One strategy which can be deployed that will focus on this particular system as linked to product launches and product innovation will focus on paid days, which will be offered to the employees. The strategy can be used by the organization to encourage promising results, which will help the organization to gain the upper hand over its competitors.

The strategy, the paid-days program, will offer the employees with time which can be spent at their homes. The program focuses on employees who will have the time to research their innovative ideas outside their workstations. The program will also encourage employees to create new concepts that can be applied to an original product that will be launched. This strategy will help with the launch of a new product which will be innovative. The plan will also focus on a bonus system that will be used to award the employees that have managed to exceed their tasks delegated to them. The bonus will set a benchmark for what will be expected by the organization. The milestone will apply to the employees who have been given paid days to concentrate, invent or create new concepts that can be used in a new product before the product’s launch has been held (Chen, 2015).

My role as the senior manager of the human resource division will focus on the efficient management of this particular department. My function will focus on the preparation of a reward system that will be appropriate to both the organization and employees. The reward system created will focus on transparency, which will be meant to motivate the employees to exceed their limits when it comes to the tasks assigned to them. One other role which will be applied in this particular strategy will focus on organizing the paid leave for the employees who have been entrusted with the task of creating innovative products or new concepts that can be applied on the product (Bradley, 2017).

References

Bradley, C. D. F. (2017). Human Resource Reforms in Public Administration: The Importance of the Reward System. HOLISTICA–Journal of Business and Public Administration, 8(2), 49-58.

Chen, Y. J. (2015). The role of reward systems in product innovations: An examination of new product development projects. Project Management Journal, 46(3), 36-48.