Premium Essay

Hrm Assignment

In:

Submitted By carnish
Words 3699
Pages 15
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 hence motivates him to perform to his level best. We will have a look at performance based rewards system which is the major factor in rewards systems designed by organizations across the globe.
This report will also look in details about various aspects of the performance based pay system, the major issues in its implementations and discuss various steps that can help managers develop a well

Similar Documents

Premium Essay

Hrm Assignment

...Table of Contents Page UDC assignment submission form 1 cover page 2 table of contents 3 1 Introduction 1.1 definition 4 1.2 introduction 4 2 Analyses 2.1 importance of hrm today 5 2.2 one major challenge of hrm facing companies today 6 3 Evaluation and Recommendations 3.1 provide work-life balance ...

Words: 1713 - Pages: 7

Premium Essay

Hrm Assignment

...implementation, etc). v. Your comment/suggestion on how to improve on the function *you MUST add other criteria in your report, not only those that have been listed above. e. Submission of report is on MAY 18, 2014 (during seminar 5). PHYSICAL PRESENTATION 1. Assignment should be computer typed using 1.5 spacing and using font type Times New Roman or Calibri size 12. 2. Typing should be on one side of each page only. 3. A margin of 1.25cm should be allowed on both the left and the right side of the page. 4. Pages are to be numbered consecutively. 5. The assignment should be submitted with a cover sheet stating your: i. Company's Title & HR Function ii. Subject iii. Lecturer’s Name iv. Students' Name and Matric No v. Class/Program vi. Submission Date 6. Cover page of your report must be in yellow colour. SUBMISSION 1. A copy of all assignments should be kept to safeguard against loss. No excuse of losing the assignment or losing computer will be accepted. 2. Assignment should be proofread before submission. 3. Failure to submit by the due date would result in your marks to be awarded 0. UNIVERSITI TEKNOLOGI MARA HRM 533: INTRODUCTION TO HRM shibahisham/fpp/hrm533 REFERENCES 1. Your report MUST include citations from the sources....

Words: 318 - Pages: 2

Premium Essay

Hrm Assignment

...dealing with employees are critical to ensure that the organisation gets and keeps the right staff. Personnel management refers to the managerial function of estimating and classifying of human resources requirements for meeting organisational goals. It involves strategies that ensure sufficient staff, a right combination of talent and performance in jobs. Human resource management (HRM) is the governance of an organization’s employees.  HRM is sometimes referred to simply as human resources (HR). A company’s human resources department is responsible for creating, implementing and/or overseeing policies governing employee behaviour and the behaviour of the company toward its employees. Human resources are the people who work for the organization; human resource management is really employee management with an emphasis on those employees as assets of the business.  In this context, employees are sometimes referred to as human capital. As with other business assets, the goal is to make effective use of employees, reducing risk and maximizing return on investment (ROI). Areas of HRM oversight include – among many others -- employee...

Words: 1325 - Pages: 6

Free Essay

Pay for Eprformance

...Pre course assignment 2: Performance Related Pay The assignment is to write a paper about Performance Related Pay (2000 words) Performance Related Pay is receiving a great deal of attention. On the one hand (collective) labour agreements are increasingly including arrangements that relate to pay-forperformance, at the same time there is also strong resistance. Trade unions have never been enthusiastic proponents subject to certain conditions, but opinions are also divided in employers' circles. Pay-for-performance is even named as a root cause for the crisis of the financial sector and for the collapse of some companies. A number of companies have recently announced that they will abolish or change their pay- for-performance systems. When organizations have performance related pay systems in place, (front line) managers usually play an important role. They make pay decisions, or provide information for these decisions. The paper is also a preparation for a class debate about pay for performance in the fourth lecture. The debate will be about the statement: “The introduction of individual pay for performance contributes to an improvement in a company's (financial) performance” The paper will be written from one of three starting points: 1. You are against the statement: all arguments you discuss should underpin that the statement is false 2. You are in favour of the statement: all arguments you bring forward should underpin that the statements is true 3. You are undecided: find...

Words: 453 - Pages: 2

Premium Essay

Week 2 Assigment

...Week 2 Assignment: Understanding Effective Money Management Assessment A, Part 1: Creating a Personal Financial Statement - Assets | 1 point | Car: Bluebook value $1250.00Cash: $378.00Savings Accounts: $826.00 | Assessment A, Part 2: Creating a Personal Financial Statement - Debts | 1 point | Rent: $750.00Electric/ Gas bill: $131.75Cable/ internet/ Phone bill: $80.42Credit Card: $31.00Cell phone bill: $72.37 | Assessment A, Part 3: Identify Money Management Tool | 1 point | Explain to Monica how the money management tools were identified. | Students should explain how they evaluated various cash management products and services. | Assessment A, Part 4: Creating a Personal Financial Statement – Steps | 1 point | Drag the steps listed on the right into their correct sequences on the left. When done click the Send button | Step 1: I got all my financial stuff together – bills, loans, bank statements, etc. | Step 2: I balance my checkbook. | Step 3: I decided what were my assets and what were my debts. | Step 4: I enter my assets in the program. | Step 5: I enter my debts in the program. | Step 6: The program gave me a Net worth figure at the end. | Assessment B: Creating a Monthly Cash Flow Statement ...

Words: 255 - Pages: 2

Free Essay

Misconceptions of Algebra

...Diagnostic Algebra Assessment Definitions Categories Equality Symbol Misconception Graphing Misconception Definition Concept of a Variable Misconception Equality Symbol Misconception As algebra teachers, we all know how frustrating it can be to teach a particular concept and to have a percentage of our students not get it. We try different approaches and activities but to no avail. These students just do not seem to grasp the concept. Often, we blame the students for not trying hard enough. Worse yet, others blame us for not teaching students well enough. Students often learn the equality symbol misconception when they begin learning mathematics. Rather than understanding that the equal sign indicates equivalence between the expressions on the left side and the right side of an equation, students interpret the equal sign as meaning “do something” or the sign before the answer. This problem is exacerbated by many adults solving problems in the following way: 5 × 4 + 3 = ? 5 × 4 = 20 + 3 = 23 Students may also have difficulty understanding statements like 7 = 3 + 4 or 5 = 5, since these do not involve a problem on the left and an answer on the right. Falkner presented the following problem to 6th grade classes: 8 + 4 = [] + 5 All 145 students gave the answer of 12 or 17. It can be assumed that students got 12 since 8 + 4 = 12. The 17 may be from those who continued the problem: 12 + 5 = 17. Students with this misconception may also have difficulty with the idea that adding...

Words: 797 - Pages: 4

Free Essay

Prg/211 Calorie Count Tool

...Team B Calorie Count Tool PRG/211 May 5, 2014 Team B Calorie Count Tool PROBLEM STATEMENT Team B was asked to develop a program which would calculate the user’s daily intake of calories and measure those calories against the overall calories expended. The core purpose of this program will do two primary functions. First, it will record the user intake of calories as acquired through meals throughout the day. Second, the user will record caloric output associated with physical activity. This information will be calculated together to determine the caloric surplus or deficit for the user. In order for the program to execute accurately, and provide customized results, the user will be required to input personal data to include gender, age, weight, and height. This additional information is essential to determine the user’s default caloric burn rate, otherwise known as the basal metabolic rate (BMR). The BMR and the calories burned as a result of physical activity will be calculated against the intake of calories to determine the overall success for the user. As the program is executed it must: * Record user name, age, height, weight to enable more accurate calculations * Record the users specific caloric values entered for each meal * Record the user activity and caloric burn values for that activity * Calculate the basal metabolic rate (BMR) for the individual * Subtotal the total caloric values for the day * Combine the physical activity and...

Words: 1524 - Pages: 7

Premium Essay

Student

...Problem Solving with Computing Homework - WEEK 2 [30 points] This is a review of some of the material from Chapter 2 and lectures from class. No credit for answers that are copies or near verbatim transcripts – please use your own words1 and document sources where appropriate. 1 This will apply to all assignments in this class. Answer the following questions: Chapter 2 1. Short Answers [1 point each, 2 points total] 1. What does a professional programmer usually do first to gain an understanding of a problem? The first thing that a professional programmer usually do first to gain an understanding of a program is to closely relate customer (Interview ) to inquire or gather information about the problem. 2. What two things must you normally specify in a variable declaration? The two things normally specified in a variable declaration are the variable type and identifier. 2. Algorithms / Pseudocode [1 point each, 5 points total] 1. Design an algorithm that prompts the user to enter his or her height and stores the user’s input in a variable named height. Declare height Display “Enter Your Height” Input Height Display “Height” 2. Write assignment statements that perform the following operations with the variables a and b. - Adds 2 to a and stores the result in b. - Subtracts 8 from b and stores the result in a Set b=2+a Set a=b-8 3. Write a pseudocode statement that declares the variable cost so it can hold real numbers. Floating Point-Variable...

Words: 1823 - Pages: 8

Free Essay

Mobile Service Provider

...11108944 Name: ASHWINI KUMAR Roll No. : RE3R02B32 PART- A 1. Ans :- (a) unary and ternary operator Unary operator:- It pecedes an operand . The operand (the value on which the operator operates ) of the unary operator must have arithmetic or pointer type and the result is the value of the argument. Example:- If a=5 then +a means 5 If a=0 then +a means 0. If a=-4 then +a means -4. Ternary operator:- It precedes an operand. The operand of the unary operator must have arithmetic type and the result is the negation of the operand’s value. Example:- If a=5 then –a means -5 If a=0 then –a means 0 If a=-4 then –a means 4. (b) Assignment and equalto operator Assignment operator:- Equal to operator: An assignment operator assigns value In this we put the To a variable. value as it is. Example – Example- a*=5 means a=5*5. Int a; a=5 means a is initialized with 5 if(a==5) { return true; } return false; (c) Expression and statement Expression:- An expression is any valid combination of operators , constants , and variables. Example:- ...

Words: 399 - Pages: 2

Free Essay

Book Report

...Selection statements Selection is used to select which statements are to be performed next based on a condition being true or false. Relational expressions In the solution of many problems, different actions must be taken depending on the value of the data. The if statement in C I used to implement such s decision structure in its simplest form – that of selecting a statement to be executed only if a condition is satisfied. Syntax: if(condtion) statement executed if condition is true When an executing program encounters the if statement, the condition is evaluated to determine its numerical value, which is then interpreted as either true or false. If the condition evaluates to any non-0 value (positive or negative), the condition is considered as a “true” condition and the statement following the if is executed; otherwise this statement is not executed. Relational Operators In C Relational operator | Meaning | Example | < | Less than | age < 30 | > | Greater than | height > 6.2 | <= | Less than or equal to | taxable <= 200000 | >= | Greater than or equal to | temp >= 98.6 | == | Equal to | grade == 100 | != | Not equal to | number !=250 | In creating relational expressions, the relational operators must be typed exactly as given in the above table. Thus, although the following relational expressions are all valid: age > 40 length <= 50 temp >= 98.6 3 < 4 flag == done day != 5 The following are invalid: length =< 50 ...

Words: 1617 - Pages: 7

Free Essay

Study Habits

...STUDY HABITS OF SECOND YEAR BS-AVTECH STUDENTS OF PATTS COLLEGE OF AERONAUTICS S.Y 2013-2014 An Undergraduate Research Presented to The Languages Department of PATTS College of Aeronautics In Partial Fulfillment of the Requirements for the course ENGL 211 – Technical Report Writing By Guevarra, Giorgio Martin C Guevarra, Lorenzo Miguel Jang, Jose, Yosalina, Leo Xander March 2014 ACKNOWLEDGEMENT The researcher would like to express our thanks to the lord. Our God for his guidance towards everything we do In life, including this study that we had made, and for being an inspiration for us all to do our best in life. We give our thanks to Ms. Karen M. Millano, our adviser for ENGL 211, for carefully and patiently guiding us so that we may finish the thesis research, and for supporting us and believing in us, that we can accomplish our task finishing the thesis. To the respondents of this study, we express our gratitude because without them, this thesis research would not have been completed, we thank them for allowing us to conduct a survey during their spare time, and their patience and integrity in answering the survey. To our parents, for their support and everlasting patience and understanding for us. And lastly to our classmates, since they have been with us since the beginning of the semester and they had been our companions in everything we do for the subject ENGL 211. ABSTRACT STUDY HABITS OF...

Words: 413 - Pages: 2

Free Essay

Engeenering

...SCHOOL OF ENGINEERING YEAR 3 MECHATRONICS ASSIGNMENT LAB REPORT Reading an Analogue Voltage from a Potentiometer to turn a Motor on and off with reading of 40 Assignment 2 Owais Jahanzeb BENG Mechanical Engineering with buissness Lecturer: Dr. Tom Shenton Aim & Objectives The aim of this lab is to develop a functioning program for the PICDEM board to read an analogue signal from a potentiometer and turning a motor on or off if the signal exceeds a certain limit. The program should depict the function that it should turn the motor ON and OFF if the potentiometer reading is less than or equal to 40. The practical uses of such program can be seen in automotive , injection moulding machines, wood processing machines, modern temperature controlled plants, speed control torque operations. Developing Program 1 Figure 1. The schematic circuit & PICDEM board configuration for Program Figure 1. The schematic circuit & PICDEM board configuration for Program The objective of program is to read the correspondent voltage analogous to the potentiometer position and switch the motor on if the reading is over 40 and switch it off if the reading is less than or equal to 40, the value can be adjusted by twisting the screw clockwise and anticlockwise. The program works by implementing the following code. PIC program for Test of potentiometer with value less equal to 40 with comments: include <p16f917.inc> extern DisplayDigit1, DisplayDigit2...

Words: 427 - Pages: 2

Premium Essay

Andy Owes Bill a Debt.

...Law Written Assignment 3 Case Study 1 Parks, a 7-foot, 265-pound center for the San Diego Slick, objected when his contract was assigned from the ABC Corporation to the XYZ Corporation, the team’s new owner. The change of owners did not cause a change in the composition of the team although a new coach was hired. Parks’s compensation and his responsibilities remained the same. Was this contract assignable? Facts of the Case: 1) Parks contract was assigned from the ABC Corporation to XYZ Corporation. 2) Parks compensation and his responsibilities remained the same. Issues: 1) The reason why we are in court today is to identify if Park’s contract was assignable. Rules of the Law: 1) Personal Service Contract – The parties agree that a personal service contract may be assigned. This allows the trade of an athlete from one team to another team. 2) Notice of Assignment – Assignee is under a duty to notify the obligor that the assignment has been made and performance must be rendered to the assignee. 3) Anti-Assignment Clause – Prohibits the assignment of rights under the contract. 4) Approval Clause – requires that the obligor approves any assignment of contract. Analysis & Conclusion: Since we do not have all the facts we can assume the following: 1) Parks contract did include the Personal service contract. 2) Notice of assignment was made by XYZ Corporation. 3) Parks contract did NOT include Anti-Assignment Clause. ...

Words: 495 - Pages: 2

Free Essay

Management Accounting

...Management Accounting Individual Assignment 1. Variable manufacturing cost per unit = (323,000,000-160,000,000-24,000,000-100,000,000) 850,000 = $45.88 per unit Fixed manufacturing cost per unit = $100,000,000 850,000units = $117.65 per unit Total manufacturing cost per unit= 45.88+117.65 = $163.53per unit 2. Fixed overhead rate= $100,000,000 800,000units =$125 per unit Production volume variance= (850,000 X 125)-(800,000 X 125) =$106,250,000-$100,000,000 = $6,250,000 Favourable 3. Absorption costing. | $ | $ | SalesLess: Cost of goods soldOpening inventoryProduction(850,000 X (255+125))(-)Ending inventory(30,000 X 405)Gross MarginAdjustments for production variance(850,000-800,000)x125Operating Income | 0323,000,000(11,400,000) | 450,000,000(311,600,000) | | | | | | 138,400,0006,250,000F | | | 144,650,000 | Income Statement for the year ended 31December 2012 4. Variable Costing Income Statement for the year ended 31 December 2012 | $ | $ | SalesOpening inventoryProduction(850,000 X 255)(-)Ending inventoryContribution MarginFixed factory overheadOperating income | 0216,750,000(7650,000) | 450,000,000(209,100,000) | | | 240,900,000(100,000,000) | | | 140,900, 000 | 5. Based on the calculations of absorption costing and variable costing for the year 2012,it would be better to calculate and measure using the absorption costing...

Words: 288 - Pages: 2

Free Essay

Eopp

...Reflection assignment In this assignment I will be using the Gibbs Reflective Model, reference, to reflect on an incident that occurred in placement that demonstrates an understanding of the Outcome : 3.1: Demonstrate that they respect diversity and individual preferences and value differences, regardless of their own personal views. To do this I will first, briefly describe the event, supporting my outline with relevant information. I will then explore the event, and discuss why it is important and how it relates to the learning outcome. I will also be discussing why materials such as law and guidelines say this is important. I will then proceed to analyse the incident by breaking it down and picking out the main features of the experience, discussing why they are important, whilst linking the main points together. I will attempt to think about opposing arguments to what I have explored, and discuss the advantages and disadvantages of the arguments. Finally I will be using SMART goals, to create an action plan for future development. Explain incident with evidence Whilst on a shift, we had an elderly patient arrive on the ward. The patient suffered from a Frank Haematuria, Colovesciular fistula as well as incontinence. It was suggested that the patient received surgery to have this corrected, but the patient refused surgery, stating that at his age he did not want to go through with it, and wanted to put a DNAR in place. I along with the other nurses respected his choice...

Words: 370 - Pages: 2