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Literature & Language
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Rewards, Recognition And Performance Management In Coca-Cola (Essay Sample)

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rEWARD AND RECOGNITION IN WORKPLACE

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REWARDS, RECOGNITION AND PERFORMANCE MANAGEMENT IN COCA-COLA
NAME
INSTITUTION
REWARDS, RECOGNITION AND PERFORMANCE MANAGEMENT IN COCA-COLA
Coca-Cola is one of the world's leading beverage sellers. It has over 700,000 direct employees. To ensure that the employees are well motivated the company has set methods of rewards, recognition and performance management.
Methods used to reward and recognize employees in Coca-Cola Company
1 Mentoring and training
The company allows employees to nurture their skills and trains them to achieve more in different departments. Coca-Cola offers many development programs that motivate and hence encourage the workers. Employees gain continual opportunities for rewards at peak performance. They achieve these in-service workshops through Coca-Cola University, an online teaching medium. Moreover, these employees are exposed to short-term assignments that hands them a chance to work in different fields, either by changing their departments or the country of service.
2 Creating an Energizing Environment
The company endeavors to provide a surrounding that is stimulating for day to day motivation of to the workers. This environment includes provision of facilities such as a cafeteria, a credit union, free parking, dry cleaning and a store. These facilities are not limited since some headquarters offer even more to their workers for example the Coca-Cola headquarter in the united kingdom offers on-site gym to its employees, special hours during the summer as well as free fruits and drinks.
3 Financial Rewards
To ensure that the employees reach greater heights, Coca-Cola offers competitive compensation of financial rewards as a motivation. The company has yearly performance reviews on employees. This system enables the workers get a merit rise on their profiles. Workers are rewarded with merchandise and tourism offers through the Coca-Cola Red Tag program. The employees' children also get tuition reimbursement enabling their children get bursary funds. Employee discount programs as well as car discounts and free parking are other benefits the workers get from the company as motivation.
4 Reliable and result based Communication system
Coca-Cola is a company that builds its core values and mission statement around the workers input. Yearly surveys are done on the Coca-Cola Company workers, with an aim of seeking employee insight on how the company is ran and suggestions on which area or department to improve. This global employee insight survey happens in a set period of time and views are aired through blogs and private website. Employees are en

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