PRESENTATION TO THE BOARD

PROFESSIONAL DEVELOPMENT PROGRAM PROPOSAL

Name

University

Emotional Intelligence and motivation

An individual’s emotional intelligence capacity is built up by the emotional building blocks which serve as his/her basic emotional skills. To enhance performance of employees and also improve job satisfaction, any management greatly relies on the concept of emotional building blocks.

Self-perception, leadership, self-actualization, self-regard, and self-awareness that is emotionally related are considered as the most important building blocks that improve performance and job satisfaction (Steven, 2017).

Positive reinforcement is a motivational tool acting as a reward for a job well done (Seethi, 2014). This tool can be utilized in the case where work has been performed beyond expectations; or even in cases where the management is seeking to promote competition in a work group, for example, bonuses.

Negative reinforcement on the other hand is a penalty for not performing as expected which is also considered as a motivational tool (Seethi, 2014). If employees are under-performing or executing tasks poorly then the management can consider using such a tool to motivate them. In cases where company policies and procedures have been broken then this tool can be applied to correct these actions.

Emotional Intelligence and social skills and decision making

Social skills refer to those skills that one uses to handle or influence other individuals’ emotions effectively. Emotion intelligence in this case could be utilized by the management to enhance these social skills and enhance the ability to arrive on desired decisions by the management.

Social skills have a significant role in an organization’s management and entirely every organization as they improve on the performance of employees and the management. A leader who possesses persuasion, communication, conflict management, and team work and rapport skills has his performance improved at all times. A management that applies these skills are better placed to bring investments and make decisions that have positive impacts on the organization.

These skills help the management to effectively communicate to the employees which improves their performance in tasks. A good rapport skill by the management is vital in the building of bonds and relations between employees and the management; good relations translate to good performance.

Acquiring conflict management skills by the management assist them in resolving issues in the organization which may result to conflicts if not well managed; therefore leading to poor performance.

Team work assists the management to effectively perform duties with others in the organization. This vital skill tends to generally improve the performance of all employees and the organization in general.

Effective teams

To build and manage an effective team, it requires a number of team dynamics in order to have it be of benefit to the organization. These teams require building blocks and the said dynamics to come into existence. Clear objectives, appropriate leadership, balanced responsibilities, communication, cooperation that is mutual and individual development are these blocks and dynamics that are required for the building of an effective team.

Clear objectives set should be arrived at through agreement by all members of the team. The team must understand these objectives clearly and also must possess ideas that will help the team in achieving their goals.

An appropriate leadership should be a key recipe in the building of an effective team. These skills assist the team’s leadership to instil confidence in the team and display attributes of competency and trust.

Every team member has a special set of skills which they lend to the team; this carries with it the aspect of specialization in the team. To have a team that performs its duties effectively responsibilities need to be balanced.

Communication is vital for any relationship and in the case of an effective team building it is the recipe that strengthens the relationship of the team members. Communication therefore should carry with it the aspects of productivity and effectiveness in both directions of the flow, in order to achieve productivity.

Teams have to accommodate mutual cooperation and individual growth for them to be effective. Members of the group should develop individually and also as a group so as to improve on the strength and the effectiveness of the team.

To enhance all these attributes the head of the team has to lead the team in coming up with strategies. The head of the team should know the strengths and weaknesses of the team members and device ways of making improvements.

Rewards Systems

Organizations that apply an effective reward system have their performance increase and greatly improve. This system motivates the members of the organization which consequently leads to effectiveness of employees, management and the organization in general (Study.com, 2017).

An organization’s significant asset is its’ motivated labor force. This system should therefore incorporate both the positive and negative reinforcement (Sethi, 2014). A company’s focus should be on positive reinforcements as they make employees feel like they are being pushed to perform; instead these reinforcements makes them feel appreciated and of importance to the company. There are intrinsic and extrinsic rewards that an organization incorporates into the reward system.

Intrinsic rewards are those that an individual offers themselves and is driven by personal interests in the work that an employee does. Extrinsic rewards are those that are tangible and are administered based on another person feeling that an individual has done an exceptional job.

Most Organizations prefer extrinsic rewards as they are easy to administer and they cut across a number of duties and skills possessed by employees. End of year bonus rewards and gold star systems are the most basic and efficient systems of reward. In the case of a company like Wells Fargo, they can use any of these systems and also combine them if they see it fit depending on their financial capabilities.

The gold star system awards employees with stars each time the display a commendable accomplishment. The stars have a certain monetary value and at the end of the financial year the employees can cash out their stars into real money. These stars are not just rewarded in any case; there are rules that govern the awarding of employees.

In the case of bonuses, when the financial year ends the employees get bonuses which are a share of the company’s net income. The company dedicates a certain portion of the net income and it follows that it is divided among members based on their achievements. The company may also decide to reward employees with company stock and is also based on performance.

Executive summary

There are certain factors that improve the performance of the Wells Fargo company which include; emotional intelligence, motivation, social skills, decision making, creating effective teams, and designing an effective reward system.

The building blocks for emotional intelligence ought to be incorporated in both the management and the employees. These are important for improvement on the quality of work of employees, management and the general output of the organization. Motivating the work force is important for any company and therefore it should focus its efforts in instilling these qualities in their workers.

Workers should consider improving their social skills as they are important in influencing better decision making. Influencing their workers positively in an organization is another advantage of management having social skills. Therefore the organization should have a management that has these skills; persuasion, influencing skills, communication skills, rapport skills, team work and conflict management skills.

Effective teams improve on the performance of companies. The Wells Fargo company should invest in effective teams which have trustworthy leaders and specialized team members. The members should also possess different specific skills to form a strong team.

The well Fargo Company should also consider coming up with a strong and effective reward system to motivate employees. Motivation improves on the performance of the employees which in turn improves the general performance of the company.

References

Study.com. (2017). Reward Systems & Employee Behavior: Intrinsic & Extrinsic Rewards. Retrieved from; http://study.com/academy/lesson/reward-systems-employee-behavior-intrinsic-extrinsic-rewards.html

M, Seethi. (October 19, 2014) Positive vs. negative reinforcement: Which is more effective? Retrieved from; https://pavlok.com/blog/positive-vs-negative-reinforcement-which-is-more-effective/

Steven, J (2017). The building blocks of emotional intelligence. Safari. Retrieved from; https://www.safaribooksonline.com/library/view/the-eq-leader/9781119349006/part01.xhtml