1. Monetary rewards can put added pressure on employees to perform to perfection for the rewards. No person wants unnecessary pressure and this can lead to a decline in an employees production from a point that they are afraid to fail expectations. Monetary rewards can have unproductive results and lead to employees having a false sense of a reward and those rewards never being met, leading to disappointment among the employees.

2. One limitation of a monetary reward is that it doesn’t develop the skills of an employee. Sure every employee would enjoy some sort of a monetary reward but how does that help the employer have a more skilled employee? If you want your business or company to develop and be more successful, you must develop the skills of your employees, monetary rewards don’t necessarily do that. A second limitation is that monetary rewards don’t always improve the job quality. Just because you receive a monetary reward it will not change your boss if you don’t like them or the city you work in that you may not enjoy. The last main limitation of monetary rewards is that they do not discourage unethical behavior. If employees don’t have high morals then they will find the easiest way to receive extra money and if you can constantly receive a monetary reward then unethical behavior is never discouraged.

3. 1. Define and measure performance accurately – You must emphasize on what goals the employees should be trying to achieve. Once the goals of the organization are clearly communicated, employers must determine a way to measure an employees’ performance and communicate on how well the goals are being met. 2. Make rewards contingent on performance – Don’t give out rewards that may not be relevant to job performance, one example of what not to do is how teachers, in Texas public schools, are given a raise for how many years they have been teaching. Also not all monetary rewards should be the same, for a task that is harder to accomplish there should be a larger reward than a much simpler task. If all tasks are rewarded the same then there will be less motivation to complete the harder tasks. 3. Reward employees in a timely matter – If you don’t reward an employee in a timely matter then that employee may think that a reward really isn’t coming and would lose all motivation to try and be rewarded again. You must constantly be in communication with employees on their performance and specifically tell an employee why they are being rewarded. 4. Maintain justice within the reward system – You must be fair but strict with the reward system. Don’t make any false promises of an unachievable reward and all rewards should be able to be obtained by any employee. You cannot bend rules regarding rewards for certain employees, everything must be fair. 5. Use monetary and nonmonetary rewards – Not all rewards have to be monetary and still satisfy an employee. Sometimes extra time off or public recognition can be just as rewarding and beneficial to some employees. To get employees to volunteer for a task that may be difficult a monetary reward could provide more incentive than something such as public recognition.

4. It’s my opinion that doing a job that I enjoy is more important to me than making a lot of money. If you truly enjoy what you do for a job then you cannot consider it work. I definitely want to be compensated for my one degree so far and what I believe I should deserve but you also have to think about the quality of life. The best way I believe to balance these are to never settle, never settle for a job that will not compensate you for what you deserve monetarily speaking and never settle for a job that you truly will not enjoy. To find a job that compensates you well and that you enjoy, you must know what you want as far as quality of life and know what you deserve on how much you should be compensated.