The effect of different rewards on satisfaction at herbalife vietnam company
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1. Summary The aim of this report is to investigate HERBALIFE staff attitudes to different methods of reward used by the company. A staff survey on attitudes towards four different methods of reward (bonus money, free vacations, gifts, commendation) was conducted. The result indicates that all the staff find rewards after finishing a project important to increase motivation and their working efficiency. The report concludes that bonus money or free vacations are two best ways to be applied. It is recommended that HERBALIFE has developed a company reward programme focusing on bonus money and free vacations to encourage the staff’s effort. 2. Introduction Staff rewards programmes have become increasingly crucial in the growth and development of any business. Indeed, employees are an integral part of a successful business. For this reason, many companies are devoting more resources to reward their staff and, consequently, foster customer satisfaction. In addition, reward programmes can be inexpensive yet clever ways to enhance staff loyalty and their performance. Whether it is in the form of prepaid cards or gift vouchers, well-managed staff rewards programmes have several positive effects to the success of any business. A good staff reward programme often results in enhanced motivation among personnel. Additionally, it helps employees make connections between personal goals and professional goals. Motivation also increases the engagement of employees in the workplace and as a result, improves performance. Overall, employees who feel the support of their organisation derive value from their job and, consequently, enjoy a positive mental state. This translates to increased productivity from the employees and leads to increased profitability. HERBALIFE is a multi-level marketing company that sells nutrition, weight management and skin care products. The company distributes its products in 88 countries through a network of approximately 3.2 million independent distributors. HERBALIFE Vietnam, established in 2008, is a one of the biggest multi-level marketing companies in Vietnam. One of the most important factors that leads to the company worldwide success is its reward programme, including: 1. Bonus money (cash reward) 2. Free vacations 3. Gifts (valuable pens, vouchers, coupons.) 4. Commendation
