Reward System

Third milestone submission should address the following requirements: 1.    Explain whether you will or will not implement a formal performance evaluation process and defend why or why not. 2.    Describe reward system you will use to motivate your employees, in detail, and why you have included each element (base pay, commission, bonus, stocks, benefits, holiday, vacation, etc. (the list is endless, so be creative!). 3.    Describe your approach to rolling out and managing the change process required to transition from the current reward system to your new system.  a.    What strategies will you use to manage the change? b.    Will you be transparent in your communication or does some compensation information remain confidential? c.     What are the most likely roadblock or resistance to change and how will you plan proactively for success? Your third milestone submission should follow APA format, be well supported with a minimum of five recent sources, and be a minimum of five pages long. Remember: The goal is to demonstrate critical thinking and application of concepts as well as how they interact. Key to this assignment is human behavior and how people respond to reward, motivation, and change. Be specific in your responses and defend why you chose the approach you did. It’s easy to create a list of rewards, but more challenging to really defend why they are most appropriate and how you will manage the change effectively.