Mohammed: UAE will reward innovative employees
The UAE will reward whoever is devoted to his work, preserves country’s reputation and contributes to the development and safeguarding of the national economy, His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said on Monday.
At a ceremony to honour the first batch of top executives of former National Bank of Dubai, which is now known as Emirates NBD, Shaikh Mohammed said the nation would also reward people for innovation and virtues of transparency.
Compensation in many organizations is driven by three factors: the salary bands or grades that an employee is assigned to, the outcomes of the business as a whole, and the evaluation of the employee’s work in the previous year. People want to do work that engages their interests and passions, but they must work to optimize their compensation. While their hearts may be aligned to innovation activities, they minds and wallets are focused on how they’ll eventually be evaluated and compensated. This means that the operating model must introduce new evaluation metrics, incorporating more weight on innovation activities and leading to a balanced outcome for compensation, advancement, and promotion.
At a ceremony to honour the first batch of top executives of former National Bank of Dubai, which is now known as Emirates NBD, Shaikh Mohammed said the nation would also reward people for innovation and virtues of transparency.
Compensation in many organizations is driven by three factors: the salary bands or grades that an employee is assigned to, the outcomes of the business as a whole, and the evaluation of the employee’s work in the previous year. People want to do work that engages their interests and passions, but they must work to optimize their compensation. While their hearts may be aligned to innovation activities, they minds and wallets are focused on how they’ll eventually be evaluated and compensated. This means that the operating model must introduce new evaluation metrics, incorporating more weight on innovation activities and leading to a balanced outcome for compensation, advancement, and promotion.
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