Reward Systems in Business

analytical Essay
1488 words
1488 words

Most business organisations worldwide are putting little emphasis on reward systems, particularly with regard to employee motivation. This issue has triggered significant debates in the labour sector and among human resource experts worldwide. On the other hand, organisational behaviour specialists like Herzberg and Maslow through their theories argue that reward systems have the potential of significantly impacting employee performance, and in turn organisational performance. This study aims to examine the significance of reward systems, especially in employee motivation, in an effort to highlight major components of a successful reward system. The three research questions, which have been selected to examine the importance of rewards on employee motivation and factors that motivate employees include: One, what is the importance of rewards in employee motivation? Second, what makes employees de-motivated, and what are the impacts of such employees to an organisation? Third, is there a connection between employee motivation and performance? In this study, the researcher has used a survey study, which involved the use of interviews and questionnaires targeting employees of Micro Commercial Components, to evaluate the research questions. Besides that, the researcher has used credible secondary materials to gain full insights to the research topic within the chosen company. The combination of primary and secondary research was used to form conclusions of this study, with an intention of highlighting what makes a successful reward systems, and key features of such systems in advocating for employee motivation in organisation. Finally, the conclusions of this research are based on not only the literature review, but also on the sur... ... middle of paper ... ...mployee Engagement. California, Super Star Press. Sussex Enterprise (1996) Strategic Plan Summary 1995-2001, Sussex Enterprise. Burgess Hill, West Sussex. Teddlie, C, Tashakkori, A, (2009). Foundations of Mixed Methods Research, Thousand Oaks, Sage Publications 4 (4). Torrington, D., Hall, L., & Taylor, S. (2005). Human resource management (6th ed.). Harlow, Essex, U.K: Prentice-Hall. Van Der Velde, M., Jansen, P. & Anderson, N. (2004). Guide to Management Research Methods, Blackwell Publishing, Oxford. Warren, B., (2009). On becoming a Leader. Warren Bennis Inc, USA Werner, S. and Ward S. (2004) ‘Recent Compensation Research: an Eclectic Review’, Human Resource Management Review, 14 (2), pp. 201 – 227. White, G and Druker, J., 2000. Reward management: a critical context. Routledge Publishers. Wright, A., 2004. Reward management in context. CIPD Publishing.

In this essay, the author

  • Expresses their heartfelt gratitude to all those who have facilitated this research study, including their supervisor dear maria, and their classmates who directly or indirectly played a significant role in this study.
  • Analyzes the significance of reward systems in business enterprises in line with motivation, so as to provide leaders with a guide on how to adequately deal with employee motivation.
  • Explains that business leaders and the public have an idea on the significance of reward systems in motivation of people in social systems like workplaces. the chosen organisation is a good representation of this study question.
  • Concludes that the chapter highlights the background and aims of the research study. the next chapter identifies critical aspects of rewards management in connection with motivation.
  • Cites kerr, s., 'organizational rewards: practical, cost-neutral alternatives that you may know, but don't practice', organizational dynamics.
  • Cites small business service's news release, stating the importance of smallfirms to employment.
  • Describes werner, s., ward, and ward. recent compensation research: an eclectic review.
  • Analyzes the importance of reward systems in employee motivation, and their impact on performance. they recommend that companies employ, pay and non-pay reward programs to increase employee performance and productivity.
  • Analyzes the importance of rewards in employee motivation, taking a case of mcc (micro commercial components). the second objective is to evaluate the significance of motivated employees in organisations.
  • Explains that the research study is intended to provide a guideline to enable businesses in administering effective rewards management to ensure their employees are well motivated to perform better in their jobs.
  • Explains that the research study is organized into sections, with the first section introducing research problem along with aims and objectives, justifying the importance of the study and the likely limitations in carrying out it.
  • Cites levie, j, schneider, b, young, s, barbera, k, macey, w, and matlay, h.
  • Cites parker, o, wright, l, and schminke, m.
  • Explains teddlie, tashakkori, a, torrington, d, hall, l, taylor, s, van der velde, m, jansen, p, and anderson, n.
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