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Above parameters are used by Coca Cola to make their reward system practices well in the market, object is to make their employees feel comfort, satisfied, motivated towards achievement of organizational tasks, competent to perform to the extent to attain organizational mission and vision terminologies and compete with outside rivals successfully. Because the management believes that if employees are loyal to the organization then they perform better to the way to overcome any competitive goal with accordance to desired results with remarkable customer satisfaction. 27 Criteria of rewarding employees They are using different techniques to define their reward criteria to work according to define standards of organization.
System is developed by doing great market search so as to compete rivals to the way to satisfy their internal employees more than that to get more profitability and customer loyalty. ;Grade jump ;Designation change ;Special assignments (inter departmental transfer) ;Financial aspects ;Grade jump and designation change ;Career grooming They make close collaborative or communication system with employees so s to fetch information on the part of their problems to satisfy them all to increases their efficiency and effectiveness. Because need and wants of employees are changing day by day to satisfy meaningful needs and wants are very important in the behalf of organization so as to use best potential of both physical and mental competencies is very important.
That’s why defining criteria of rewarding them have a significant importance for the mutual benefits of both employees and organization. 28 Types of Rewards of Coca Cola Yearly Basis ;Employee salary increment Grade Jump ;Annual incentive Plan (APP) (for business performance, but fixed) ;Personal Progress report (PR) (Ann all Appraisal) Monthly Basis ; Making the move (MAT, sales target achieve) ;Monthly turn hall (extraordinary performance) Quarterly Basis ;Employee of the Quarter (EX., non sales) ;