...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 regular wage like seniority-based system but then...
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...What is goal congruence? It simply means making sure your goals are in harmony with and aligned to what you really want in life. An Important Illustration: Let's say you hate your job so you set a new goal find another job. You're so desperate and emotional to leave your current work situation you focus your goal on what you are feeling in the moment. Your goal: Find a better job, that pays money, with less stress. Maybe you follow the SMART goals formula and add specifics that you can measure, such as you want to find this job within four months and your minimum salary requirement is 10% more than your current job. Let's say four months later you achieve your goals - you have a better paying job and less stress. However, you're still dissatisfied, because the new job is not challenging. Your workday seems extremely long and you're unhappy. When you ensure your goals are aligned with what really want in life then you will be happier in the long run. If you would have taken the time to focus on what you really wanted your job search may have taken you in a new direction. In the end, you'd be doing work you love, with more energy, and interest. You'd feel a sense of accomplishment and be happier. Never underestimate the power of effectively aligning your goal. It's the foundation for really smart goals. Objective: Setting Personal Goals that Will Spark Your Enthusiasm and Lead to Lasting Success You Want to Be With the 3% That Succeed! 97% of people do not know how...
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...Total Rewards System Proposal Claudia Taylor-Berry Dr. Steven Davis HRM 533 – Spring 2015 May 18, 2015 Question # 1-Create a brief overview of the company requirements for a total rewards system. Many organizations in today’s business arena want a total rewards system that encompasses the company’s objectives and their interconnection to the total rewards system (“WorldatWork,” 2007). However, mega organizations that employ over 20,000 employees and provide services in several different countries may require a more diverse total rewards system. With that said, the organization must have a purpose, objectives, eligibility requirements, measuring techniques, funding, structure, global considerations, a timeline of detailed actions, and laws when creating their total rewards system. According to the experts, a company must consider the following core provisions as components of their total rewards system: * Cash Compensations: The employee’s base pay and incentives. * Benefits: The employee’s health care and retirement aids. * Work and Life Balance: Assisting the employee by offering tools to assist with balancing work and life. * Performance Management and Recognition: Aligning company goals with total rewards through individual and team efforts, and the acknowledgements of employee actions, behaviors, performance, and efforts in achieving company goals. * Career Advancement and Development: The employee’s career development and promotion (“WorldatWork...
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...Total Rewards System Proposal Shawn Tillman Strayer University HRM533 Total Rewards Dr. Carla Henryhand February 19, 2012 Total Rewards System Proposal 2 Total Rewards System Proposal More and more companies are realizing they get better performance from engaged and connected employees. Many are rethinking their employee strategies. They are developing new ways to identify, engage and retain the right workforce to deliver the corporate growth agenda. The total rewards strategies these organizations are adopting reflect changes to the nature of work and employee expectations. Employers have recognized that employee engagement affects the bottom line. Where rewards programs needs to be changed, and employers are taking advantage of new technology to access better information to support HR decision making. Total rewards strategy is a plan for allocating reward resources in a manner that directs the business to the successful execution of the company objectives. There are three main factors involved in developing and managing a total rewards plan: 1. A thorough understanding of the total value of all of an organizations rewards elements. 2. Its stated market competitive objectives. 3. The strategic allocation and distribution of money, and the delivery of specific and deliberate expressions to employees about what a company values and their...
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...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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... CONTENTS Terms of references 3 Methods of investigation 3 Findings 3 Conclusions 17 Recommendations 17 Reference 18 Bibliography 18 Words: 3517 1.0 Terms of reference In order to complete International HRM unit task, a formal report has been requested. The task is to carry out an investigation and undertake a role of Management Consultant to look into the issues influencing movement of new plant to other locations and consider HR strategy for Haelec. Following subjects: cultural differences, implementing practices within different cultures, explanation what are the difference between integration and differentiation, managing people in international context and clarification of comparative and international HRM concepts....
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...(MNC) are organizations that have facilitates and other assets in one or more than one countries aside than its own country. Thus, there are competitive and challenges of companies operating in different countries and the relevancy for multinational companies. Multinational companies could strengthen their business and also enhance customer service through involving their diverse workforce. It means that multinational companies could make use of cultural sensitivity, language skills, market knowledge and information of business networks at their own countries to drive business growth. (Nataatmadia & Dyson, 2005). However, multinational companies will also have some problems or challenges. Communication in multinational companies would be a lot more difficult because they employ employees from various countries. People from different countries have different cultures; this is the reason why this factor could cause them to fail to understand each another. Moreover, companies which operate in various languages areas will have difficulties at communicating with the local employees because they speak different language. (Kundu, 2001). SICLI have problem in coping with the new management style after the company was acquired by Williams Holdings PLC. This company is a multinational company because it operates in many countries. Moreover, the company also employs workers from various countries. This is why they need to find out what policies could help the company to minimize the...
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...Sukhjinder Baring Sahil Goyal Course Instructor MBA-2B IHRM Contents * About LG * Global Presence * HR policies of Different Countries * PCN Strategies * Studies About LG: LG Electronics was founded in 1958 at Seoul, South Korea. This multinational company is the 2nd largest electronic products maker of South Korea and third largest appliance maker in the world. Yong Nam is the CEO & Vice Chairman of the company who is making it possible to spread the network of LG throughout the world. Headquarter of LG Electronics is in LG Twin Towers at Seoul, South Korea. LG Electronics is the owner of Zenith Electronics and has a joint venture with Philips Electronics under the name of LG Display. Both the companies are putting their effort in manufacturing and developing the quality of their products. Some important subsidiaries of LG Group are LG Electronics, LG Telecom, LG Chem. and Zenith Electronics in more than 80 countries. LG Electronics was established in 1958 as GoldStar. LG Group is the merger of Lucky and GoldStar, two Korean companies. L is taken from Lucky and G from GoldStar which formed LG Group. "Life's Good" is the slogan of the LG Electronics. In 1995 GoldStar was renamed as LG Electronics and owned Zenith Electronics of USA. Global...
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...motivation for an organization is through employee reward schemes’’. Discuss. The main purpose for us to wake up every morning is because of certain responsibilities. This could be anything from cleaning your room to working in a bank or even dropping the kids off at school. We all have them regardless of age, ethnicity, gender, race, religion and other factors. However, the one obligation that is compulsory for each and every individual after a certain age is to earn a living, by the means of working. We all get to a certain stage in our lives when we have to be independent and start supporting ourselves financially and that can only be achieved if we go to work and complete the tasks assigned efficiently. Whether we are doing something that we are passionate about or if it is a nine to five job that people have just to make ends meet or even if it is something in the primary and secondary sector, they all need motivation. Employee motivation plays a key role in management both practically and theoretically. The basic concept of rewarding people is through reward schemes. Even if the work is something an individual is obsessive about, without rewards, pay and other factors the person would lose their commitment towards that particular job. Though there are various different types of ways to motivate employees besides these, they have got their own advantages and disadvantages. Rewarding systems and other motivational tactics have to be designed...
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...Market Cultural Report Rationale for your country of choice In this market cultural report, I will be writing about my personal choice of home country of United States of America making a business to host country of China. By discussing the cultural analysis and business culture in China. And also the difference of the business cultural between China and United States of America. The home country of United State of America is the world third biggest population and fourth biggest area country and consists of 50 states and a federal district. Americans are strongly emphasize personal interest in their work, pay close attention to personal ability usage, and also to increase the values of personal behavior responsibility. Americans are strong...
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... An industry leader in the field of plastic injection molding, Riordan Manufacturing, Inc., uses a state-of-the art design capabilities that has earned international acclaim and generated an annual earnings of $46 million. Attention to detail, extreme precision and enthusiastic quality control are the hallmarks of Riordan. With facilities in San Jose, Calif., Albany, Ga., Pontiac, Mich. and Hangzhou, China, Riordan is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion (UOP, 2006). Because of diminishing sales and uneven profits over the last two years, Riordan is faced with implementing new strategic plans to increase its profitability with an innovative customer relationship management system (UOP, 2006). The strain from the decline in sales has impacted employee morale adversely with little to motivate the workforce as its contribution has been overlooked and outright neglected. Riordon must reclaim its most valuable asset – its 550 people employees – by maintaining an innovative and team-oriented working environment and by assuring the employees are well-informed and properly supported. Situation Analysis Issue and Opportunity Identification Riordan was founded by Dr. Michael Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastics...
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...theory about the Fouled Ups Systems. In another word, we rewarding the individuals while hoping for collaboration. The essential point of high-efficient employee execution is about doing the right thing in the appropriate time. To get the most from the employee, we do need to develop the right reward system. Furthermore, Kerr states the causes of the folly rewarding system that has been widely and commonly applied in the business and public field. Based on his experiences, the author reveals the examples of the explanation of why the fouled-up system seems to be so prevalent, basically is the overemphasis of visible performance but not the efficiency. In author’s opinion, it is easy to point the finger of blame at employees. But in most companies and organizations, the reward system causes poor attitudes and performance that discourage desired behaviors while rewarding the very action that will make the executive crazy. At the end of the article, the author gives method of improving the reward system. The most significant point is to expand the scope of the behaviors should be rewarded. To create an efficient reward system, executive must first clarify the behaviors, or performance, to help the employee better understand how they can support what to accomplish. Secondly, to devise an effective performance appraisal system that distinguishes between metrics used for control and those used for employees’ development. Eventually, to design a reward system that motivates employees...
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...1 Performance Management and Reward Systems in Context Definitions 1. Performance Management-continuous process of identifying, measuring and developing the performance of individuals and teams and aligning performance with strategic goals of the organisation 2. Performance Appraisal-involves employee evaluations once a year without an ongoing effort to provide feedback and coaching in order for performance to be improved. Systematic description of an employee’s strengths and weaknesses 3. Environmental Trends that make PM critical today Trend 1: Globalization and push for productivity Globalization is a process of interaction and integration among the people, companies, and governments of different nations, driven by international trade and investment and aided by information technology. Globalisation brings about higher competitiveness and the search greater performance level. The performance management system of the organisation will be differentiated based on the different country due to different country have different culture, law and regulations. Besides that, political and economic factor, trade policies, the employment laws, pressure groups in different countries will affect the types of performance management the company chooses. It will remain the biggest challenge for global organizations human resource departments to manage a workforce diverse in culture and language skills, and distributed in various countries. It is critical that the businesses...
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...390 consultants across more than 60 offices in nearly 40 countries. Regarding its revenues ($218 million), even if Egon Zehnder is only the fourth world's largest senior-level executive recruitment firms in the world, after Korn/Ferry ($339 millions), Heidrick Struggles ($325 million), Spencer Stuart ($239 million) and Russel Reynolds ($ 190 million), the company generated the highest revenues per professional. Egon Zehnder International, Inc. offers business consulting and executive search services. The company provides professional recruitment, candidate screening, employee consulting, board consulting, management appraisal, leadership development, and team effective review services. Additionally, it offers succession planning and management restructuring services. Egon Zehnder International caters to corporations, government, regulatory bodies, educational and cultural organizations, financial services, technology and telecoms, life sciences, consumer, industrial, services, and private capital companies. Unlike its biggest competitors, the company his privately held – that means they have no franchise of their operations – and be committed to “the one-firm concept”. 2. What is the reward policy of Egon Zehnder ? In 2001, the pay of EZI was different between partner and non-partner/consultant and two things determined the reward policy: seniority and companywide result. So the system was transparent and took little time to manage. There were...
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...employees. This can include decisions such as moving managers from their offices to open plan areas, reducing or removing tiers of titular status, or status symbols attached to seniority or role. Pfeffer argues symbolic egalitarianism signals equality and improves communications, it “diminishes ‘us’ versus ‘them’ thinking” [ (Pfeffer, 2005, p. 101) ] which he believes creates a more collaborative environment with better information flow and cooperation due to the hierarchical barriers between employees and managers being removed. Organisations make a strategic choice in their remuneration and reward programs to enforce either hierarchical or egalitarian culture. Egalitarian systems allow earnings to increase without employees having to move up to more senior roles. This allows for a more flexible workforce that can be moved across jobs without moving up tiers, allowing for greater responsiveness to “new areas, projects or positions” [ (Gomez-Mejia & Balkin, 1992, p. 46) ]. This system can, however, lessen the longevity of the employment relationship. Organisations with a more mature and stable place in their market...
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