the toyota way- a dive into toyota's reward system
TRANSCRIPT
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The Toyota WayAn insight into Toyota’s Reward System
Presentation by,V E R I F I E D D O M I N A N T U N I T ( V . D O . U . )
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A brief about the company
• Toyota Motor Corporation is a Japanese automotive manufacturer headquartered in Toyota, Aichi, Japan.
• It was founded on August 28, 1937 by Kichiro Toyoda
• The current president and representative director is Akio Toyoda
• It ranks 9th in the Fortune Global 500 list of year 2015
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Company’s VisionMost respected and admired company
We deliver outstanding automotive productsand services to our customers, and enrich our
community, partners and environment.
Company’s Mission
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What is “The Toyota Way” ??
Apart from being the title of the #1 best selling book by author Jeffrey K. Liker,
Toyota Way is actually a set of 14 management principles that underlie the
Toyota Motor Corporation’s Managerial approach and production system
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Ever wondered why some employees are
more motivated than other to achieve a
higher level of productivity?
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The answer lies in the reward systems
What are rewards?
Reward are positive outcomes that are earned as a result of anemployees performance
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Example
Personal
achievement,
proffesional growth,
sense of pleasure and
accomplishment
IntrinsicExample
Benefits like
reimbursement of
telephone bills and
monetary rewards to reach
target.
Extrinsic
Types of Reward System
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Frederick Herzberg, who is one of the leading theorists of
workplace motivation, found intrinsic rewards to be much stronger than
financial rewards in increasing employee motivation
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What caused Toyota’s biggest failure during 2009- 2010
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• At the end of 2009 and beginning of 2010, Toyota had recalled 112,500 cars inthe US (in 3 different but related recalls)
• Numerous class action lawsuits filed by the consumers in US and Canadaalleging Toyota’s negligence
• Major complaints were about uncontrolledacceleration
• Noted industry analysts commented thatrecalled parts were not due to factory issue, butdue to the fault in design
• Ignorance of the customer complaints
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Where does rewards system come into play??
• The flaws in the design were known to the managers
• The organization’s disproportionate reward to managers for cost containment versus sustaining product quality
• It created incentives for everyone involved to ignore facts and deny problem’s existence
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Extrinsic Rewards
• Discounted vehicles and spare parts
• Overseas career development
• Parental leave
• Employee assistance program
• Superannuation
The present Reward System
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W H A T M O T I V A T E S Y O U ? ? ?
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• Mr. Li: "Accomplishment. My Supervisor trusts me to do my best. I have many ideas. Some ideas do not lead to profit for the
company but I want to try. If my supervisor doesn`t give me the flexibility to experiment, I have no chance to improve myself or
perform proper kaizen. Many problems occur on a day-to-day basis. When there is a problem, I want to solve it. My boss gives me
the opportunity to implement my kaizen suggestions."
• Mr. Hayakawa: "My job has a purpose."
• Mr. Uemae: "I enjoy my work. I have the chance to increase my abilities and learn new things. It`s exciting. I don`t mind putting in
extra hours when I have to."
• Mr Yoshioka: "Recognition. Rewards and salary are not the key point but they do reflect achievement. I want the opportunity to
challenge myself and gain experience. I want to be appreciated for my contribution. It`s the small things like compliments and
expressions of thanks that lift my spirits."
• Mr Minami: "When I make suggestions and they are accepted, I get really excited. Plus, I want to do my job efficiently so I can go
home to my family."
When asked from employees of Toyota,
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Intrinsic Reward systems- Part of the “Toyota Way”
• Keeping employees aware all the time.
• Valuing diversity and constructive differences.
• Constant feedback and scheduled evaluation and assessment.
• Being able to ‘push back’ against executives.
• Using teamwork and collaboration as a guiding principle instead of
just a buzzword.
• Taking on a supportive, capability-building role for their employees.
• The office is structured without partitions.
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Recommendations
Innovation Tuesdays
Think
Innovate
Recognize
Reward
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Conclusion
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AR I G A T O UG O Z A I M A S U
T H A N K Y O U
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A N YQ U E S T I O N S
? ? ?