...Executive Summary This assignment is study about the Organisation Studies issue which is Organisation Rewards and Employees’ Motivation. In order to further study the issue, an interview section was held in Bayview Hotel Georgetown Penang. The Front Office Manager was selected as the respondent. The interviewee has given a lot of useful and credible information when commenting the employees’ motivation during the interview section. Throughout the interview section, the Bayview employees’ motivation level has shown positive effect towards the organisation. Meanwhile, the organisation is developing the current rewards system which helps increase the employees’ job performance in near future. The study case has brought out an important issue which is the motivation level among the employees has occupied a very important position in an organisation. It will lead to a positive working environment and increase the revenue of the company as the company rewards them according to their needs. 1.0 Introduction Bayview Hotel Georgetown Penang which formerly known as City Bayview Hotel Penang Malaysia is one of the member of Bayview International Hotels & Resorts in worldwide. The Founder and Chairman of Oriental Holdings Berhad (OHB) and Boon Siew groups of companies in both Malaysia and Singapore, the late Tan Sri Loh Boon siew, purchased a land parcel in the year 1978. A 40-rooms property was built along Batu Ferringhi Beach in Penang and named as Bayview Motel...
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... | |How to best reward employees? | | | | | |Yuling Zhang(19041245) | |2010/4/17 | |Understanding and Managing Organisations | Contents Contents 2 Introduction: 3 Total Reward and theories: 4 Intrinsic rewards more important: 5 The impacts of extrinsic rewards on intrinsic motivation: 6 Cognitive evaluation theory (CET) in motivational approach: 6 Self-perception theory in attributional approach 7 Behavioural approach: 7 Performance management, high performance working and reward strategy: 8 Other noteworthy points when rewarding: 9 Case study: 10 Conclusion: 11 Reference: 12 How to best reward the employees? Introduction: Given that people is highly...
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...compensation, and benefit packages, and keeping employees motivated. While monetary rewards have been linked to motivation so have non-monetary rewards. Some non-monetary rewards include; recognition, communication, flexible working hours, wellness programs, and education and development programs. Introduction A Forbes article investigating the significance of positive work environments mentions, a fundamental benefit creating a favorable environment is the effect it has on motivating employees. The article continues by stating, ‘Employees that are happy tend to be more productive, which is better for a business’ (Forbes, 2013). Showing that there is a correlation employee satisfaction/perception and a company’s success. Rahimli in an article refers to the changing environment, and how critical it is to keep abreast with changes in innovation, to be effective and efficient. Rahimli further remarks, if organizations aid in enhancing the skills of their employees with training, the author alleges the employee’s performance will improve. Training is indeed one way non-monetary way to motivate employees, the skills they learn can be used where ever they may go. Key words Human Resources, Human resources in Health Care, 'the function or role', (non-financial) and (non-monetary), 'motivation or incentive', motivation or drive. ‘Work Motivation’, (role or function), (supervisor or manager). Knowledge Merriam Webster simply defines motivation as “the act or process of motivating”...
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...acknowledge the legitimate power that comes from being in a leadership position in an organization. The employees believe that the manager has the authority to direct their actions, and they are willingly to comply with those requests. Like most power, legitimate power is based upon perception and reality. It is based upon the reality that a person holds a particular position in an organization. It's also based on the perception of an employee that someone holding that position has authority to exert control over her. Legitimate power as a source of authority has one distinct advantage over many other sources of authority, which is that it is usually based upon some objective rule or law of the organization. For example, when an employee asks his/her manager to approve his/her personal time off, the employee knows that the manager has legitimate power to either approve or deny that request. Regardless of what is the manager decision, the employee must comply. B. Reward Power It is simply define as the power of a manager to give some type of reward to an employee as a means to reflect or influence the employee to act. Managers have the power to reward subordinates for their actions when those behaviors meet or exceed the performance expectations. Rewards can be tangible or intangible. The key distinction between a tangible reward and an intangible reward is that tangible rewards are...
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...In today’s business environment, research reveals that meaningfully and sportively engaging employees drives business success. It is important for successful organizations to implement and promote a variety of policies and programs increasing employee satisfaction via motivation and engagement. To ensure success, it is critical to reinforce these policies throughout every level of management structure. Human capital is a vital corporate asset and satisfied employees are crucial to organizational success. Gardner (2008) suggests that the basis of job satisfaction is tangible and intangible rewards. The foundations for satisfied employees are salary and benefits. However, intangible factors drive greater workplace happiness. Gardner’s (2008) summary article reviewing empirical job satisfaction research reveals seven drivers: appreciation, respect, trust, individual growth, a good boss, compatible co-workers, and a sense of purpose. Companies can increase employee satisfaction through motivation and engagement strategies. Motivation models provide valuable insight into various ways managers can increase employee satisfaction and drive performance. A motivation model proposed by Nohria, Groysberg, and Lee (2008) reveals four underlying motivation drivers. They define the drive to achieve by fair compensation. They describe the bond and comprehend drivers as employees feeling meaningfully connected to their company and capable of career advancement, respectively. They characterize...
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...Motivating Employees Motivating Employees BEH/225 07/26/2013 Gigi Sofia Motivating Employees Page1 Can a managers motivate employees? Yes, but first what is motivation? Motivation is “Internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role, pr subject, or to make an effort to attain a goal.” (Business Dictionary) We all know that we have to have motivation or desire in order to get work or extra work done. Motivation is important in the workplace. Motivation with values and rewards that are depicted by intrinsic elements and by extrinsic factors . Intrinsic Motivation What is intrinsic motivation? It is motivation by rewards that are largely intangible. We all enjoy when our supervisors and bosses treat us with care and consideration or feeling that we are appreciated for the work that we do, and having a general enjoyment in our work, and this is linked to our feelings. Extrinsic Motivation What is extrinsic motivation? It is motivation that is external or tangible rewards. Employees are motivated to perform and extrinsic motivations are fringe benefits. Employees are motivated by salaries and that they can provide for their family and what they can give their families...
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...and intrinsic rewards and these have kept its employees highly motivated and continue to exert their best efforts for the company. Extrinsic rewards at Google Australia include unlimited sick leave, generous health insurance, flexible working hours, and reimbursement of up to $6000 per year for educational expenses. In addition, staff can also receive small bonus rewards on a day-to-day basis. Intrinsic rewards mostly depend on the individual, but such things as getting to work with creators of Google products such as Google Earth, Gmail, and Google News can bring a sense of satisfaction to the job. Google’s intention to create a sense of fun at work and to create a culture of information sharing and collaboration can be identified by its office environment such as an informal dress code, abundant leisure activities and free food at the staff cafeterias. With these small rewards, Google employees feel a sense of belonging to the company and feel that they are creating and contributing to something bigger than themselves. Gone are the days where companies rely solely on the loyalty and lifelong devotion of the employee. This paper will argue that modern day companies need to redesign on how a balanced strategy of extrinsic and intrinsic rewards for each individual employee will better enhance employee motivation, as individuals have their own specific needs, and not be applied as a whole as their focuses may be different. A balance of extrinsic and intrinsic rewards must be applied...
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...Background of the Study Coaching entails training the employees to equip them with them new skills and perhaps prepare them for an upcoming task (David & Clutterbuck, 2013). Coaching creates awareness among employees of what is expected of them and when this is to be achieved. Organizations have consistently incorporated a coaching culture in their operations (Keddy & Johnson, 2011). Coaching especially that is conducted by experts and professionals have significantly increased value and investment of the organization. This fact has been enabled by effective performance and reward mechanisms that organizations have adopted to boost morale and ultimately increase effectiveness and productivity of the organizations (Passmore, 2010). Coaching culture has led to enormous benefits towards the groups. These benefits are that; coaching bolsters innovativeness and creativity within the organization, it assists an organization formulate its goals, increase effectiveness and operational excellence (Passmore, 2010). Coaching also helps organizations to manage resistance that might occur from the employee.This act is manifest in the fact that with coaching, employees are equipped with skills and necessary information, and them are empowered to overcome uncertainty and resistance to change (Rostron & Rensburg, 2009). Coaching within organizations also enables the organization and the employees to thrive in their businesses. This fact is so because employee’s...
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...* Financial Rewards at MetLife Alico * Presented by : * * Outline I. Introduction Overview of the Insurance Industry Company Profile I. Motivation General Overview Financial Rewards II. Financial Rewards at MetLife Alico III. Analysis of findings IV. Conclusions and Recommendations V. Appendix I- Introduction * Introduction The Insurance Industry in Lebanon * Open & liberal market * 60 insurance companies * Top 10 companies account for 60% of total premiums * Gross premiums per operating company have improved between 1997 and 2002 * Introduction * Life insurance sector is very developed relative to other Arab countries * Top 5 insurance companies: 1. - Arope Insurance 2. - Mednet Liban 3. - Libano- Suisse 4. - MedGulf 5. - MetLife Alico * Introduction Alico’s Profile: * American Life Insurance Company (Alico) is one of the largest leading insurance companies in the world * 1921: Established in Shanghai – China * 1960’s: Moved to Wilmmengtion- Delaware * 1980`s: Operating in Latin America , Middle East and Europe * Aim: “for market leadership and profitable growth, employing local talent and empowering individuals to perform at very high levels.” * Introduction Alico in Lebanon : * Leading life insurance company since 1953 * Main office...
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...MOTIVATION The Student’s Name The Name of the Class Professor The Name of the University The city and State where it is Located The Date MOTIVATION Motivation is the force that directs people to behave in a certain way. Motivation explains people’s desires, actions, and needs. A motive develops an inclination for a particular behavior. In an organization context motivation is defined as the use of rewards and compensation to boost employee’s morale and satisfaction (Long, 2005). This action in the end increases performance and productivity of workers. Motivation can either be intrinsic or extrinsic. Extrinsic motivation or external motivation involves the use of tangible rewards to boost employee’s performance. Tangible rewards include pay and other salary benefits. Intrinsic motivation or internal motivation involves the use of intangible rewards to increase employee’s performance. Intangible rewards include safe working conditions, promotion, job titles, incentives and good working policies (Hiam, 2003). In this paper, therefore, my objective is to discuss how culture affects Herzberg’s theory of motivation the two-factor theory. In his 1959 motivation book, Fredrick Herzberg discusses the factors that lead to satisfaction and dissatisfaction in the workplaces. Herzberg was interested in knowing what pleases employees and what displeases them in their work environment. To conclude his study, Herzberg found that opposite of satisfaction is not dissatisfaction...
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...Introduction 2 1.1 Research question 2 1.2 Background 2 2.0 Motivation 2 2.1 Definition of Motivation 2 2.2 Theories of Motivation 3 3.0 Reward System in Organizations 3 4.0 Types of pay Scheme’s 4 4.1 Payment by Result 4 4.2 Skills-based pay 4 4.3 Profit sharing 4 4.4 Performance-related pay 5 5.0 Discussion 5 6.0 Empirical Study 6 6.1 Volvo Current Reward System 6 6.2 Employee and Mangers View of Reward system in Volvo 7 7.0 Empirical Study 2 7 8.0 Conclusion 7 9.0 References 8 10.0 Appendix Page 9 1.0 Introduction 1.1 Research question Today an organizations result is highly dependent on the employees work motivation. It therefore becomes important for a company to find out what motivates its employees so that it can plan a suitable reward system and gain better results. The right and adequate combination of immaterial and material rewards can boost up an employees work motivation and enhance their commitment to the company. The aim of this documentation is to investigate and analyze how well a reward system helps generate employee motivation. More specifically it aims, to conclude that a financial reward is not an effective implementation to increasing employee motivation 1.2 Background A well designed and functional reward system is an efficient way to increase employee work motivation. The appropriate type of reward is developed in accordance to the company’s reward philosophy, strategies and policy, however, it might be challenging...
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...Examine that rewards only motivator for employees with an explanation of what are other most motivators for employees. Introduction In today's competitive business environment organizations are confronting numerous challenges and among those challenges obtaining right workforce and holding it, is of most extreme significance. These days, human asset is thought to be the most imperative asset of any organization. To get the efficient and effective result from human asset, representative motivation is vital. Employees will give their greatest when they have a feeling or trust that their endeavors will be rewarded by the administration. There are numerous factors that impact worker motivation like working conditions, specialist and employer relationship,...
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...explain the concept of performance management. Performance management is a continuous process of identifying, measuring, and developing the performance of individuals and teams and aligning performance with the strategic goals of the organization. Let’s consider each of the definition’s two main components: 1. Continuous process. Performance management is ongoing. It involves a never-ending process of setting goals and objectives, observing performance, and giving and receiving ongoing coaching and feedback. 2. Alignment with strategic goals. Performance management requires that managers ensure that employees’ activities and outputs are congruent with the organization’s goals and, consequently, help the organization gain a competitive advantage. Performance management therefore creates a direct link between employee performance and organizational goals and makes the employees’ contribution to the organization explicit. B. Identify at least five components of what might be included as part of a performance management program. Prerequisites, performance planning, performance execution, performance assessment, performance review, performance renewal, re-contracting. 2. Distinguish performance management from performance appraisal. A system that involves employee evaluations once a year without an ongoing effort to provide feedback and coaching so that performance can be improved is not a true performance management system. Instead, this is only a performance appraisal...
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...Question #1 Extrinsic motivators are tangible rewards such as bonuses and adequate time off. Intrinsic motivators, on the other hand, are intangible and develop from a person’s internal desire, including satisfaction and interests. As a result, the main difference is the ability to quantify, or measure, intrinsic rewards. At KPMG, employees acquire leadership and project management skills, in addition to the technical skills they develop. Additionally, employees are able to go on rotations, where they acquire additional skills. Both of these practices help keep employees interested and, as a result, derive some intrinsic value. Additionally, the Employee Career Architect (ECA) allows employees to develop a close relationship with their mentor/manager. This will help employees gain personal satisfaction because managers will acknowledge good behavior. It will also provide some challenges for them to overcome when they receive negative feedback. In both cases, employees will gain some intrinsic motivation. Question #2 The main arguments against monetary rewards are: 1) employees may cease to perform activities if they are not compensated for doing them and 2) monetary rewards decrease the intrinsic motivation. The main argument for monetary rewards is that monetary rewards provide a goal for employees to work toward. If they know that they will receive a bonus for excellent performance, then they may work harder. I don’t think that KPMG should continue to give bonuses...
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...EQUITY THEORY Adams' Equity Theory calls for a fair balance to be struck between an employee's inputs (hard work, skill level, tolerance, enthusiasm, and so on) and an employee's outputs (salary, benefits, intangibles such as recognition (and so on). According to the theory, finding this fair balance serves to ensure a strong and productive relationship is achieved with the employee, with the overall result being contented, motivated employees. HISTORY Equity theory proposes that individuals who perceive themselves as either under-rewarded or over-rewarded will experience distress, and that this distress leads to efforts to restore equity within the relationship. It focuses on determining whether the distribution of resources is fair to both relational partners. Equity is measured by comparing the ratios of contributions and benefits of each person within the relationship. Partners do not have to receive equal benefits (such as receiving the same amount of love, care, and financial security) or make equal contributions (such as investing the same amount of effort, time, and financial resources), as long as the ratio between these benefits and contributions is similar. Much like other prevalent theories of motivation, such as Maslow’s hierarchy of needs, equity theory acknowledges that subtle and variable individual factors affect each person’s assessment and perception of their relationship with their relational partners (Guerrero et al., 2007). According to Adams (1965), anger...
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