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The Empuls Glosari

Terma Glosari Pengurusan Sumber Manusia dan Manfaat Pekerja

Lawati Glosari Sumber Manusia

Ganjaran Tunai

Cash rewards represent tangible monetary incentives bestowed upon employees for their exemplary performance, contributions, or achievements within an organization. Unlike other forms of rewards like merchandise or vouchers, cash rewards offer flexibility and autonomy, allowing recipients to utilize the monetary value in accordance with their preferences and needs.

What are cash rewards?

Cash rewards are incentives or bonuses provided to individuals or entities in the form of money. These rewards are often given as recognition for achieving certain goals, completing tasks, making purchases, or participating in programs such as loyalty programs or credit card rewards. Cash rewards can take various forms, including direct cash payments, gift cards, or vouchers that can be redeemed for cash or goods.

Are cash rewards taxable?

Yes, cash rewards are generally considered taxable income by the government. When individuals or entities receive cash rewards, they are required to report them as income on their tax returns. 

The tax implications may vary depending on the source and nature of the cash reward. For example, rewards earned through employment, such as bonuses or commissions, are typically subject to income tax and may also be subject to payroll taxes. 

Similarly, cash rewards received through investment activities or as part of a business venture may be subject to taxation based on applicable tax laws and regulations.

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What is the reward of money?

The reward of money refers to the benefits or advantages that come from receiving cash as a form of compensation, incentive, or recognition. These rewards can include financial security, purchasing power, and the ability to meet basic needs and desires. 

Additionally, money rewards can provide opportunities for investment, savings, and wealth accumulation, leading to long-term financial stability and independence. 

However, it's essential to note that while money rewards can offer tangible benefits, they may not always lead to lasting satisfaction or fulfillment, as non-monetary factors such as personal fulfillment, relationships, and experiences also play significant roles in overall well-being.

What is the significance in the reward industry?

Cash rewards hold paramount importance within the reward industry due to their versatility and universal appeal. They serve as powerful tools for reinforcing desired behaviors, driving productivity, and fostering a culture of excellence within organizations. Furthermore, cash rewards resonate with employees across diverse demographics and cultural backgrounds, ensuring inclusivity and effectiveness in reward programs.

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What is the impact of cash rewards on employee engagement and motivation?

Research indicates that cash rewards have a profound impact on employee engagement and motivation levels. The prospect of monetary recognition serves as a potent catalyst, inspiring employees to surpass performance expectations and strive for excellence in their roles. Moreover, cash rewards provide tangible acknowledgment of employees' contributions, instilling a sense of value and appreciation within the workforce.

What are the best practices for implementing cash rewards?

While cash rewards offer numerous benefits, their implementation requires careful planning and strategic execution. To maximize their efficacy, organizations should consider the following best practices:

  • Clear criteria and transparency: Establish transparent criteria for awarding cash rewards, ensuring fairness and consistency in the process.
  • Timely recognition: Deliver cash rewards promptly following the achievement or exemplary performance to reinforce desired behaviors effectively.
  • Personalization: Tailor cash rewards to align with individual preferences and aspirations, enhancing their perceived value and impact.
  • Communication and celebration: Communicate the significance of cash rewards effectively and celebrate recipients' achievements to amplify their motivational impact.
  • Integration with performance management: Integrate cash rewards seamlessly into the organization's performance management framework, linking them to specific goals and objectives.
  • Challenges and considerations: Despite their efficacy, cash rewards may pose certain challenges and considerations for organizations. These include potential budget constraints, the risk of fostering a culture solely driven by monetary incentives, and the need for continuous evaluation and adaptation to ensure relevance and effectiveness.

How do you calculate reward points to cash?

The method for calculating reward points to cash varies depending on the specific rewards program or system in place. However, in many cases, reward points are assigned a certain cash value based on a predetermined conversion rate. 

For example, a credit card rewards program may offer 1 point for every dollar spent, and each point may be worth $0.01 when redeemed for cash. In this scenario, if a cardholder has accumulated 10,000 reward points, they would be able to redeem them for $100 cash.

Tinjauan nadi pekerja:

Ini ialah tinjauan ringkas yang boleh dihantar dengan kerap untuk menyemak pendapat pekerja anda tentang sesuatu isu dengan cepat. Tinjauan ini terdiri daripada kurang soalan (tidak lebih daripada 10) untuk mendapatkan maklumat dengan cepat. Ini boleh ditadbir secara berkala (bulanan / mingguan / suku tahunan).

Mesyuarat satu lawan satu:

Mengadakan mesyuarat berkala selama sejam untuk sembang tidak formal dengan setiap ahli pasukan adalah cara terbaik untuk memahami apa yang berlaku dengan mereka. Oleh kerana ia adalah perbualan yang selamat dan peribadi, ia membantu anda mendapatkan butiran yang lebih baik mengenai sesuatu isu.

eNPS:

eNPS (pekerja skor Net Promoter) adalah salah satu cara yang paling mudah tetapi berkesan untuk menilai pendapat pekerja anda terhadap syarikat anda. Ia termasuk satu soalan menarik yang mengukur kesetiaan. Contoh soalan eNPS termasuk: Bagaimana kemungkinan anda mengesyorkan syarikat kami kepada orang lain? Pekerja bertindak balas terhadap kaji selidik eNPS pada skala 1-10, di mana 10 menandakan mereka 'berkemungkinan besar' untuk mengesyorkan syarikat dan 1 menandakan mereka 'sangat tidak mungkin' untuk mengesyorkannya.

Berdasarkan respons, pekerja boleh diletakkan dalam tiga kategori berbeza:

  • Promoter
    Pekerja yang telah memberi respons positif atau bersetuju.
  • Pengkritik
    Pekerja yang telah bertindak balas secara negatif atau tidak bersetuju.
  • Pasif
    Pekerja yang kekal neutral dengan jawapan mereka.

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