...HUMAN RESOURCE MANAGEMENT MPM722 REWARD MANAGEMENT VIKAS CHOUDHARY Deakin ID: 213441882 Unit Chair: Dr. Elsa Underhill Number of Words: 3087 (exclusive of title page, figures/tables, appendices and references) INTRODUCTION The compensation provided by a company for the loyal services of its employees that helps it achieves its goals is known as rewards. At the very heart of the organization lie the human resources or the labor capital of a company which holds the secret to the success or failure of the organization. It is thus very important to have a well engaged workforce that is constantly enhancing their performance levels by using both their inner and outer potential limits. This will ensure that the organization becomes highly competitive in the market. However, an engaged and committed workforce is only possible when the company has a well designed reward management system that is able to provide individual employees with benefits that adds value for them. It is hard to find motivation for work among people unless there is significant rewards associated with the work that they perceive is proper compensation for their time and effort. Once the reward offered looks justified, the employees in their pursuit of the reward becomes committed to work in a manner that helps the company achieve their business strategies and goals (Edward & Christopher 2006). It is crucial that the rewards ensemble the factors that are perceived important by the employees and...
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...The Effect of Employee Engagement In Reward Systems and Performance Management Introduction The success of any organization rests on the strategic management of its employees. It’s vital for an organization to attract, motivate and retain the best talent available to achieve and sustain a long-term competitive advantage. To achieve this the Human Resources Department must design a performance management system that not only links employee performance outcomes and expectations to its strategic goals, but also uses the system as a tool to improve employee productivity as well as recognizing employee accomplishments, all while emphasizing the employee’s role in the process. The challenging part is motivating the employee to increase and sustain productive behavior. An organization’s reward system can be used as a motivational tool if the rewards being offered are considered valuable by the employee. A valued reward system can positively affect an employee’s performance. Organizations use pay, benefits, compensation and other rewards as effective performance management instruments to enhance employee productivity so goals can be achieved. So, how does an organization choose the reward system it offers? This paper will focus on the hypothesis that employee engagement in choosing a valued reward system will positively effect performance management and subsequent employee success. Assessment An effective employee reward system is an integral part of the employer/employee relationship...
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...4.2 Transformational Leadership 5 5.0 Transformational Leadership, Work Engagement and Emotional Intelligence 6 5.1 Work Engagement………………………………………………………………………...….6 5.1.1 Application to Case 6 5.2 Emotional Intelligence……………………………………………………………………….7 5.2.1 Application to Case 7 6.0 Ineffective Design of Reward System 8 6.1 Reward System in Today’s Context 8 6.2 Ineffective Reward system 8 6.2.1 Application to Case 9 7.0 Recommendations 9 8.0 Conclusions 10 9.0 References 12 10.0 Appendices 17 10.1 Appendix 1: SWOT Analysis 17 10.2 Appendix 2: Add-on Effect of Transformational Leadership 18 10.3 Appendix 3: Organisation’s Life Cycle and its Leadership Requirements………………….19 1.0 Executive Summary InsureCo has met with several consequences that have adversely affected the company’s overall productivity, turnover rate, compensations costs and workplace engagement. It is imperative for the executives to understand the underlying causes behind these detriments to better the prospects of this company. If these problems persist, with impending global competition, InsureCo may not be able to adapt to the evolving demands of the workplace; this can result in its practices becoming obsolete and the perpetual costs to the company may bring about a financial deficit. Therefore, it is in the company’s best interest to identify the core problems behind these consequences; subsequently, devising long-term...
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...Job design (also referred to as work design or task design) is the specification of contents, methods and relationship of jobs in order to satisfy technological and organizational requirements as well as the social and personal requirements of the job holder.[1] Its principles are geared towards how the nature of a person's job affects their attitudes and behavior at work, particularly relating to characteristics such as skill variety and autonomy.[2] The aim of a job design is to improve job satisfaction, to improve through-put, to improve quality and to reduce employee problems (e.g., grievances, absenteeism). Job design follows job analysis i.e. it is the next step after job analysis. It aims at outlining and organising tasks, duties and responsibilities into a single unit of work for the achievement of certain objectives. It also outlines the methods and relationships that are essential for the success of a certain job. In simpler terms it refers to the what, how much, how many and the order of the tasks for a job/s. Job design essentially involves integrating job responsibilities or content and certain qualifications that are required to perform the same. It outlines the job responsibilities very clearly and also helps in attracting the right candidates to the right job. Further it also makes the job look interesting and specialised. Benefits of Job Design The following are the benefits of a good job design: 1. Employee Input: A good job design enables a good job...
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...Promoting and Maintaining Innovation NAME University of Phoenix OI/361 Innovation, Design, and Creativity for a Competitive Advantage Promoting and Maintaining Innovation Innovation is a combination of creativity, to come up with ideas, and implementation, putting those ideas into practice. Implementation is a three step process: idea selection, development, and commercialization (Von Stamm, 2003). Innovation is required in order for an organization to grow and remain ahead of the competition. Organizations use motivational tools to promote innovation in the workplace. This paper will evaluate the roles these motivational tools play in promoting innovation and the leadership required to maintain innovation in an organization. Roles of Motivational Tools To promote innovation, organizations use incentives, training, and education to motivate employees. Incentives come in the form of monetary rewards such as a bonus and non-monetary rewards such as a reserved parking space. Incentives attract employee’s attention and motivate them to work harder. Employees in the sales department tend to work harder knowing that at the end of the quarter there will a bonus based on the amount of revenue they generated. Training and education have the same overall result. They both provide knowledge to employees in their area of work thus helping them be better at their job. Training however is more specialized than education. Some organizations...
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...MOTIVATION AT PLAY Motivation at Play in Work Kwik-Fit has gone from being perceived as a company that doesn’t care about its workers to one where employees feel a sense of ownership, belonging, and engagement. … Martin Oliver and Keren Edwards improved motivation at Kwik-Fit by creating an environment where people feel that they matter. Rewards such as bonuses and performance-based pay, and amenities such as the corporate gym and massage service, contribute to employee satisfaction, but they are only part of the story. Equally important to motivation … is that employees feel that managers genuinely care about them and are willing to listen to their needs and concerns (Daft, 2005, p. 225). If most companies are like Kwik-Fit, their leaders care about and seek to make their followers feel valued; and as such, motivation is a done deal. Right? After all, how hard is it for a person to care about another? And want to see him or her do their best? After all, it is only the right thing to do. But as we say in law, “you can sue anyone but whether you will win … depends!” The ability to motivate depends upon many factors, commencing with the leader’s abilities and desire. For starters, the leader must want to show its workforce that it cares; and then, it will rely upon any number of means to do so, such as -- for the purposes of this paper -- having an appreciation and understanding of its followers’ needs. However, one can be the guru of all motivational gurus, and...
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...action that leaders and followers engage in and collectively pursue. Research suggests that successful ethics management depends less on formal ethics programs and more on employees' fairness perceptions, ethical leadership at all levels, and the alignment of multiple formal and informal cultural systems to support ethical conduct. To the extent that Human Resource systems invoke fairness evaluations, Human Resource managers design leadership training, and Human Resource systems help to create and maintain organizational culture, Human Resource professionals must play a key role in ethics management. Research has found that employees' perceptions of fairness are equally or more important than other factors in terms of their influence on ethics-related outcomes. Fair treatment is so important because employees who perceive unfair treatment will rebalance the scales of justice by harming the organization. Employees who perceive fair treatment, on the other hand, will reciprocate by going above and beyond the call of duty to help management (by reporting ethical problems, for example). To ensure that employees feel they are treated fairly, it is important to design Human Resource systems and interventions with perceived fairness as a key goal, with an emphasis on procedural (fair decision making procedures) and interactional (fair interpersonal treatment) fairness. Employees' perceptions of fair treatment should be monitored regularly via employee surveys, and changes should...
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...detrimental to the organization; sparking concern from the management team and identifying a substantial need for reevaluation and reorganization of the company. In this case, issues of job design, workplace inequity, organizational culture and employee evaluation and motivation within RR Feeds Inc. are analyzed and recommendations are provided to the management team for implementation. Job Design In the past two years RR Feeds has reduced staff employment and restricted their spending by cutting bonuses. Their employees are expected to work harder for less compensation; in essence, the job description has been altered. In result, employee morale has decreased and negative changes in employees’ attitudes and behavior have reduced the company’s productivity and efficiency. Management should consider a job redesign that identifies the needs and wants of the employees and the organization as well as remove workplace frustrations that hinder production. Job Redesign. In order to align employees with the new job expectations it is important that management is clear about the objectives of the redesign. RR Feeds redesign efforts should focus on improving productivity, job satisfaction, staff retention and quality of work life. In respond to the recent reduction in staff, the new job design should implement employees working with others in a team effort rather than...
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...performance appraisal, and reward systems that align member work behavior with business strategy, employee involvement , and workplace technology” (Cummings &Worley, 2009). Research has shown that organizations with a fully functional performance management system outlive those...
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...loner offered employees a steady job. Instead they offered a contract which included that both parties agree that they will work on a career path for the employee. Different kinds of reward systems include: Specific Specific Focuses on the desired behaviours and provides the performer with clear 'line of sight' between action and the (business)result. Personalized Meaningful The value of the reward is 'worth the effort' to both performer and organization Immediate Timely The rewards are provided 'as timely as necessary to reinforce the desired behaviours that achieve desired results. Contingent Achievable The results are viewed as achievable, though not easy. Sincere Reliable The rewards are provided 'contingent' on taking an action or achieving a result. From a performance management point of view, the ultimate objective is to create a workplace environment that is filled with both natural work reinforcers (intrinsic) and external rewards and recognition, all directed to those behaviours necessary to achieve results that make a difference. It goes beyond making sure that people are getting paid and includes understanding the messages that are being sent and the behaviours that are being reinforced Wilson mentions three critical requirements of the new reward systems: ·...
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...Saigon Bicycle Corporation (SBC). The company currently is experiencing a business downfall, 2 public controversies cases, high staff turnover rate and extreme conflicts between management and non-management staff. As the new CEO of Saigon Bicycle Corporation, my task is to give managerial decisions to improve the current employees’ performance, brainstorming solution methods to resolve conflicts between departments, motivate the employees by a specific reward systems, improve the organizational culture by being a role model in frontier, and using my leadership style to make effective changes on the overall of this organization. After the previous CEO’s tenure came to an end, Saigon Bicycle was in chaos as the effect of his autocratic leadership style, I will try to change the company’s performance by applying democratic style and encourage employees to contribute their best by providing a free environment of communication in the work place. A provided specification about employee motivation will be established as well as reward system in order to help employee to leverage their productivity and personal goals in typical and the company’s performance in general. Currently facing a public controversy about product defects that lead to our consumers’ fatalities, responsibilities of CEO...
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...everything they need to perform their work. This includes all supplies required, from what some might seem unimportant items such as office supplies to have access to information necessary to complete specific tasks. Workers are often frustrated when they have to waste time looking for the items they need to get their work done. You must also take steps to ensure workers have easy access to the things they need. For example, if the individual who maintains control of the one and only key to the supply closet acts as though her coworkers are stealing her personal supplies, this will create tensions which can demotivate employees. Even small frustrations such as searching for office supplies can impact motivation in the workplace. By providing training for ongoing career development is a vital element of the...
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...Workplace Job Design Workplace job design plays an important role on the employee performance in the organization. Impact of job design on the employee performance, can mediate the role of job satisfaction. A job well designed will encompass five characteristic models: task identity, task significance, skill variety, task autonomy, and feedback, (Hackman & Oldham, 1975) by Ali & Rehman (2014). According to Invacevich, Konopaske, & Matterson (2011), “Job design is the process by which managers decide individual tasks and authority”. One of the significance of the roles job design plays is that it provides operational excellence. According to Ali & Rehman (2014), Huselid and Becker (1997) maintained that operational excellence emanates from human resource management systems that also generate financial gains in the organization with the help of job design and its imminent flexibility goals ahead. It depends on the nature of the job, some required role performance, which is found highly recurring on the other and some other jobs display dominant flexibility in the task to be executed (Mueller, Boyer, Price, & Iverson, 1994). “As many human resources professionals have discovered that there is strong impact on the productivity and the motivation and the job satisfaction of employees in the organization” (Ali & Rehman,2014). Additionally, job design helps managers perform better and feel more pleased in response to transitional levels of job demands wherever they recognize effort-reward...
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...Edith Kee My Reward System 1. Come to work everyday on time for month = puts you in raffle for a gift card 2. Helping other when you can=puts you in a raffle for gift card and free cup of coffee 3. Chance for promotion= coming to work on time and helping others in the company and being polite to your boss. 4. Good pay= asking the boss for overtime to earn extra money one a paycheck 5. Being told by my boss when I do a good job= I would ask my boss to come and check to see how good I am doing on the assignment he has me working on. 6. Show respect when coworkers are on the phone talking to clients= The best way would be wait till your coworker is done on the phone then you could ask your question 7. Come to work wearing company's uniform for seven days= And receive two tickets to Oliver Garden and two movie ticket. 8. Showing respect to your boss at work= can get your boss to notice that you the employee understand how hard it is to run the business= Doing can get you time off because the boss can be very understanding because he or she is human. 9. If everyone shows the client respect and goes out there way to help the clients that come into the company for two months = You have a chance two enter a raffle to win a all pay trip to New York city for four days and three nights 10. Every employee that comes to work with a positive attitude and greets everyone with a smile for four months= has a chance to win a trip to Baltimore four six...
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...Motivation in the workplace: using the right financial reward system in Indonesian public sector INTRODUCTION Indonesia is one the most populous nation in the world, which happen to sit in one the most dynamic region between Australia and Asian industrial countries like Japan, China and South Korea. With Asia and Australia nearby, Indonesia is trying to leverage its strategic position by building its economic capacity. As commonly seen in developing country, Indonesia’s public sector is seen as inadequately equipped to bolster development in Indonesia. As a way to increase its economic development, Indonesian government decided to initiate bureaucratic reform for its public employee. This bureaucratic reform is intended to improve public service, which is plagued by corruption (Wihantoro et al. 2015). It is expected that the improvement of public sector could lead to better service and good governance which in turn would improve people’s satisfaction. Despite the effort by the government of Indonesia, public service in Indonesian remains mediocre at best and there are still a lot of room for improvement in Indonesian public sector. Traditionally the pay structure for civil servant in Indonesia is using membership-based and seniority based rewards, which does not lend itself well into motivating high performing employee. The bureaucratic reform then introduced the concept of job status-based rewards combined with seniority-based rewards in which civil servant still received...
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