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Impact of work life balance on motivation
Impact of work life balance on motivation
Recruitment and retention case study
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Case Study 3: Total Rewards & Aflac The total rewards approach challenges the human resources (HR) professional to look at the entirety of the work experience, not just the traditional compensation and benefits packages, when developing strategies to recruit, retain, and motivate employees (Giancola, 2009; Pregnolato, Bussin, & Schlechter, 2017; Stoskopf, 2004). Total rewards approach has five components – base compensation, benefits, performance and recognition (Giancola, 2009; Gomez-Mejia, Balkin, & Cardy, 2016; Pregnolato, et al., 2017; Stoskopf, 2004), work-life balance, and development and career opportunities (Giancola, 2009; Pregnolato, et al., 2017; Stoskopf, 2004). These components, when integrated into a comprehensive total rewards …show more content…
Internally, organizational outcomes associated with human resources (HR) are reflected in Aflac’s recruiting, retention, diversity, and training efforts. Externally, Aflac is focused on finding and retaining qualified individuals. Graves, vice president of HR, explains that the needs of Aflac’s employees is the driving factor behind its total reward programs (Reed, 2009). From a benefits perspective, Aflac strives to provide programs that improve job satisfaction, provide opportunities for career development, and support organizational initiatives (Reed, 2009). In addition to competitive salaries, Aflac uses a combination of traditional and non-traditional rewards to meet the needs of its multi-generational workforce. From providing on-site child care, to fitness centers and discounts on services, Aflac strives to create a positive, productive environment. The cornerstone of Aflac’s success has been the value it places in people and its commitment to treating its employees with “care, dignity and fairness” (Reed, 2009). For example, is committed to supporting the community and dedicates resources in four areas (education, health, the arts, and youth). One example of a non-traditional reward that aligns with Aflac’s values and mission is the “Volunteer of the Month,” in which one employee is recognized for the time spent in charitable service (Reed, 2009).
The optimal scenario of the AHA would be to have a differentiated workforce that would consist of identifying "A" players and "A" positions throughout the organization where wealth or value is created to contribute to the bottom line of generating the billion-dollar goal by 2010 and placing those players in all positions throughout the organization. However, the reality is that the best action for the AHA due to budgetary and time constraints is to make strategic investments in the workforce that will have high impact and drive desired results by putting the right people in the right places and not the right people everywhere. The AHA did this by creating a new talent framework driven by eight operational goals to help build the foundation for how they will identify their "A" players and positions for strategic investment. The objecti...
Overall, the score of the article is a 95 out of a 100 because the author, Carol Patton was able to lure me into reading her entire piece. Additionally, after reading the article, I felt that I gained a bit of knowledge on the importance of reward programs and how it should be a “must have” in the work environment.
Reward and recognition has to be promoted for small and large achievements. An effective reward’s program keeps employees engaged, dedicated, and committed to the organization.
Whether an organization consists of five or 25,000 employees, human resources management is vital to the success of the organization. HR is important to all managers because it provides managers with the resources – the employees – necessary to produce the work for the managers and the organization. Beyond this role, HR is capable of becoming a strong strategic partner when it comes to “establishing the overall direction and objectives of key areas of human resource management in order to ensure that they not only are consistent with but also support the achievement of business goals.” (Massey, 1994, p. 27)
Performance related pay is a financial reward given to employees whose work is considered to have reached a required standard or is above average. “PRP criteria can relate to the individual employee, to work groups or to the organization as a whole” (Armstrong, 2002). It is fair to provide people with financial rewards as a means of paying them according to their contribution (Armstrong 1993:86). The primary purpose of performance related pay in any organization is to recruit, retain and motivate the workforce. It also helps in focusing employees’ minds on particular goals (Protsik, 1966); communicate to employees an organization’s core values, and change the culture of that organization (Kessler and Purcell, 1991).
The foundation for effective job performance and compensation system can be traced to effective job analysis process. Fundamentally, a job analysis should consist of a thorough examination of the job 's duties and knowledge, skills, abilities, and qualities that are required in order to be successful in a specific position, upon which appropriate rewards or compensation can be determined. For many perspectives, jobs are usually made up of requirements and rewards, where rewards may be regarded as a major recruitment strategy for motivating potential employees in order to influence them to stay the organization for a longer period as well as enhance their performance. The most common or basic form of rewards which attracts employees is extrinsic
Johnson, Sam T. "Plan your organization’s reward strategy through pay for performance dynamics: Compensation & Benefits Review 30, Number 3: (May/June 1998): 67-72
With the same spirited investment as the world's premier marketer and beverage industry leader for more than 118 years, Coca-Cola are focused on strategic workplace programs that help assure the success of our commitment to embracing the similarities and differences of people, cultures and ideas. Diversity Advisory Council - the Company’s corporate Diversity Advisory Council consists of a representative group of employees from all levels, functions and business units of the organization. The Council develops recommendations for senior management on advancing the company's efforts towards achieving our diversity objectives. Employee Forums – Coca-Cola believe that a sense of community enhances their ability to attract, retain, and develop diverse talent and ideas as a source of competitive business advantage In the United States, through employee forums, employees can connect with colleagues who share similar interests and backgrounds. In those forums and elsewhere, employees support each other's personal and professional growth and enhance their individual and collective ability to contribute to the company.
The succeeding paragraphs will explain how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. In order to maintain their competitive edge, companies need to fully understand that as the needs of their employee’s change, so do their benefit plans. Companies need to find innovative ways of engaging employees that encourage and support their commitment and improve their performance. The first way is by helping the company attract and retain talent. A company is only as good as its workforce, so having an innovative benefit plan will help to attract high potential candidates and also retain them within the organization.
Remuneration management is defined as the sum received for an employment or service delivered, this includes the money received on a monthly basis as well as benefits given as rewards (investopedia,para.1 ). Individualism need to be taken into account when implementing these remuneration structures or reward schemes, equal pay plays a role in balancing earnings among the diverse workforce (Shen, Chanda, D’Neetto and Monga,2009,p.241). The Woolworth’s Holdings uphold remuneration policies which have the purpose of making sure to attract and hold on to the best talent, that they are congruent with the strategies of the company and are the determinants of performance during the short and long phases. The policy considers the board members and the employees. This policy manages employees of the company by giving...
An organizational human resources department utilizes the hiring and firing process to meet the organization’s personnel needs. Organizational human resource departments are charged with the oversight of an organizations administration department. The practice of hiring and firing people is a process employer’s conducts on a daily basis. This process has to be done in a proper manner and not in haste. The implication that can occur from the improper hiring and firing process could and can have a positive or negative impact on an organization. Therefore, employers must carefully evaluate their decision to hire/fire individuals and its impact on the organizations’ workplace environment and others employees. Human Resource Management is important for an effective organization. In today’s organization, HRM is valuable to the organization because of increase legal complexities and its known for improvement in productivity. However, management should realize that poor human resource management could result in an outburst of hiring process followed by firing or layoffs. According to (Satterlee 2013, p. 194), “Hiring the best candidate who is also a good fit for the organization is crucial for the success of an organization, because a poor hiring decision will have repercussions across the entire organization”. Satterlee made a valid point because poor hiring could have an impact on the bottom line performance of the firm. In other words, HRM is the contributing factor to the success of the organization including motivating and maintain the staffs. The purpose to the motivation is to ensure that all employees grow to a full potential. According to (Sims 2006, p. 5), “HRM efforts are planned, systematic approaches to increasing organizati...
The organization is able to manage a high coverage of risks at relative low costs owing to the availability of highly skilled personnel in the company’s team of employees. This benefit also brings about another advantage of easing the financial burden of the organization (Johnson, 2016). Besides, effective employee benefit system offered by the organization could improve the general productivity. This benefit is attributed to the fact that employees tent to be more effective when they are given assurance of job security. In addition, workers become more productive when they and their families are given the desired security by the employer. The other benefit to the organization if it employs an effective compensation and benefits system entail benefits from premiums (Wayne, Shore, M., Bommer, & Tetrick, 2002). These premiums are typically tax deductibles as corporate expense. As such, a company that has an effective compensation and benefits system is likely save extra money for other
There is considerable debate over merit pay and the effect it has on employees within an organization. Psychologists believe merit pay is related to the incentive theory of psychology; people respond to rewards and with the proper motivation, it increases performance (Cherry). Employers consider merit pay an effective tool and a form of competition strategy for motivating employees to achieve positive performance outcomes. Many employers ignore the fact that incentive plans may motivate some individuals while others have high work ethics and do not need motivation. The intent of this paper is to discuss merit pay used by companies, the motivational factors on employees to reach high achievement, and the challenges that employees face due
Job satisfaction includes challenging work, interesting job assignments, equitable rewards, competent supervision, and rewarding careers. The quality of work life and psychological rewards from employment are very important. It is doubtful, however, whether many of us would continue working were it not for the money we earn. This paper establishes the definition of compensation, overview of compensation philosophy, critical components of a compensation strategy, and an example of an effective compensation practice. (www.indiana.edu/~busx420/Book.../chap09.doc)
The total pay package has a direct impact on the successful recruitment, selection and the retention of staff within any organization. This pay package is critical for any business to remain competitive in today’s business world. Competitive compensation packages are vital to both large and small organizations as they encourage the retention of talented staff.