Bonus to the employees

Introduction

The scenario is thus expounded as how to distribute the bonus to the employees who are present in the ample amount. The process of parceling out the bonus to the several employees had thus become a major issue. It has thus become a question because the employees receiving pronominal bonuses from the company thus feel rather crest fallen and the others receiving higher amount feel motivated to proceed out with the good work again to have more bonuses next time. The motive is thus none of employees should feel the superiority or the inferiority within the bank and decorum should thus be maintained. The nationality also pertain the outcome in the process of giving the bonuses to the employees and the result is that it affects the employees to such an extent that their working styles change as per the need.

Responsibility

If the officers meet the individual targets as given to them they are rather bail able for the bonus. Since every officer has the responsibility to serve the bank customers, the targets thus excogitate the concept, for every worker targets are set according to their performance that is how they performed in their last target and quality of their work and the total number of customer reckoned. Quality is thus quantified by the number of mistakes made previously and the correct action taken. All the officers are thus enjoined to document such cases as to have registered in the banks computer system. There is near to little problem in determining of the fulfillment of the target. The company thus pays the bonuses for the staff and the simple logic behind it is if the staff is successful in achieving their targets, you will also meet the performance target.

Concept of bonus pool

The concept of bonus pool has rather set a different mind set in every employee or the officer. It has thus given the opportunity to every officer to thus elevate the standard of their own work, contribute in the banks growth and thus have the financial profit. The concept on the other hand demoralizes the officer to work in the genuine manner as they do and thus face the down fall. The concept is thus simple as more proficient the work is more bonuses you will enjoy but the concept grows more challenging on the larger scale as you will have to evolve several groups and provide bonuses as per the quality of the work, the concept makes the employees feel as a part of the growth of the bank. Thus certain methods could thus help increasing the growth of the bank like increasing the salary as per the defined norms per annum, deciding the level of quality of the work of the employee and giving the bonus as per the quality and for that we have to develop different groups we rank. The groups can thus be classified as-

  1. group that performed extremely well or their performance was excellent
  2. group that performed better than what was expected
  3. group who could thus effectuate only some of the expectations
  4. group whose work was normal and could not accomplish most of the targets
  5. group whose performance was just below average

Thus in determining the share of every officer and employee we thus have to rank their performance accordingly keeping the view the previous performances of the employee, the position of the officer, job dedication from the employee and the promotions or the level of the employee. We can thus say that the process might be difficult but is very successful and thus may help in the growth of the bank and raise the standard to certain extent.

Result of the concept of the bonus pool

As we can say that every coin has two sides head and tail, every strategy has two sides which is thus beneficial for some employees and may be demoralizing for some employees. The benefits of the concept are thus that when the employees are ranked and rendered their bonuses they are rather happy and more satisfied with the bank. The benefits also include that there is an increased motivation in the employees, their working efficiency rather increase to such an extent to have more bonuses and contribute more in the banks growth. The employees can thus understand the banks idea more deeply and will rather pay more attention towards the goals of the bank as the whole group which will certainly not happened if they would have been given individual bonuses. Paying more attention towards the goals might help in achieving the goals in a very short span of time. The efficiency of the work thus increases and other benefit is that you can use the bonus without any interference. The pros have been discussed and now we come to the cons of the concept that thus include demoralization for the group who did not perform well and thus could be seen in their working efficiency. Comparison is thus made among several groups which could thus be the cause of many conflicts around. Another big disadvantage is that if an individual performs very well and the other group members are not so supporting or not so brilliant in the work the demoralization could rather be very great in this case as all his or her efforts are gone in vain and the dream to have the bonus is rather not fulfilled. The most trenchant outcome of the concept is to determine how the dealing takes place with the service producer. They thus use five factors which include the commissions, the support from the internals, the carriers, technology and thus the management style of the bank and thus if the producers realizes the benefits of the concept, the shift will take place.

Influence of wasta

The concept of bonus is prone to the connections of Wasta that are some relationships to direct, modify and challenge the share in the concept of bonus. The frequency is thus low or very small when compared to the number or the amount of allotments. It thus refers to the completion of the process getting done on the basis of favoritism or nationalism and not on the merit basis. The other include that the nations unity is thus destroyed and then no more unity takes place in the youth, some people forget that approach should be made only at the time of difficulties and not at the time of growth. You must have inbuilt so much that you can proceed further on yourself rather than taking help of someone else for your own growth. The banks unity is no further maintained and there is no more the integral relationship between the system and the employee. The concept was thus developed to make every employee have the vision of the goals and then a vision is developed of how to defeat the other person in any possible ways. The talent which was to be used to do more proficient work was then just got wasted for some other useless reasons. It is known that the process is little biased one and several times employees may feel disappointed but if the employees as the group are eligible for the bonuses they will receive the bonuses. When we take the case that if a non Arab national is given the responsibility for allocating a bonus pool that would give low bonus payments to the employees, it would rather be on the beneficial side as the case of nationality does not arise in this case as every employee or the officer is same for him or her from the perspective of the nation while if the job has been given to the Arab national, slight changes would have been done at the crucial times. The frequency of this event is very low or very small but sometimes it happens which may make an employee feel dejected and rather the caliber may go in vain then and the efforts would not be put in the right direction then. (2008)

Conclusion

The concept is thus different for every person point of view. The concept is thus of very much importance from the managers view as the annual increased rate in the income of every employee has been shifted to the bonus pool. It goes on without saying that the concept of bonus pool is far much better as there is improvement in the working efficiency of every employee and when it is seen from the employee's point of view it is rather more beneficial as they are paid more for the good work and thus they are praised as the group. The disadvantage is that sometimes biasing takes place which can thus be removed by the management committee.

References

  1. "Mafi Wasta" takes on the UAE government. (2010). Retrieved May 8, 2010 from http://www.ordoesitexplode.com/me/2006/02/mafi_wasta_take.html
  2. Wasta in middle east. (2008). Retrieved May 8, 2010 from http://experiencingtheemirates.blogspot.com/2008/11/wasta-in-middle-east.html
  3. Wasta in Dubai and the UAE . (n.d.). Retrieved May 8, 2010 from http://www.dubaifaqs.com/wasta.php

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