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CHAPTER 3 Reward systems
RESEARCH METHODOLOGY
3.1. INTRODUCTION
The aim of this chapter is to explain, justify and account for the research methodology that has been selected in this study. In conducting the investigation, the researcher intends to proceed from a quantitative-descriptive design. A number of issues related to the research methodology will be extensively discussed below.
3.2. METHODICAL ACCOUNT (RESEARCH: QUANTITATIVE-DESCRIPTIVE)
Thyer as cited by De Vos and Fouché (1998: 77), defines a research design as a “blueprint or detailed plan for how a research study is to be conducted – operationalizing variables so they can be measured, selecting a sample of interest to study; collecting data to be used as a basis for testing hypotheses, and analyzing the results.” Hussey and Hussey (1997: 54), also point out that research methodology refers to the overall approach evident in the research process from the theoretical foundation to the strategies that are used in the collection and analysis of the data. So research methodology can be said to indicate the answers to questions as to how research should be designed, structured, approached and executed.
In this study, the researcher has opted to conduct his investigation through the quantitative-descriptive paradigm. A randomised cross-sectional survey design will be used to investigate attitudes of employees with regard to reward systems. According to De Vos and Fouché (1998: 127), the randomized cross-sectional design is written as follows:
R O1
Where, R = randomized selected subjects
O1 = administration of the questionnaire
It is through the relevant and appropriate quantitative research paradigm that the researcher hopes to conduct a controlled, purposive, accurate, systematic, and scientific research on the impact of reward systems on employee attitudes. The researcher also hopes that the quantitative research approach would enable him to arrive at findings that would have greater validity and less artificiality as a process of measuring the impact of rewards on employee attitudes.
3.3. RESEA...
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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.
Intrinsic rewards are not patterned financial rewards are associated with the requirement for employees to achieve greater success , recognition, a sense of responsibility , influence and development of other individuals. The requirements of the above is a strong motivator and contrast to the one . Each employee has different needs and desires . Rate a tremendous appreciation and gratitude is enough to inspire us all because of the appreciation of the value of giving someone touches his soul and give vigor to keep trying. Appreciate or appreciated regardless of age or where only a thousand meanings. Skinner ( 1969 ) reveals that the reward is a reinforcer . Reinforcing Here the meaning is interrelated aspects to the values that influence an individual's needs . However , Wether states that reward is what an individual received in return for a given job . It is the responsibility of an organization or institution to provide compensation and benefits to employees or students commensurate with a workforce that has been poured . The importance of rewards and benefits are indeed undeniable. If the employee or student is not satisfied with the compensation and benefits provided , then this will result in the existence of such problems as absenteeism , job rotation rate employing high , declining productivity and not serious in doing work .
As indicated, research requires a process in order to collect data and analyze the data to come to a correct conclusion. Quantitative research is different from the qualitative research as researched above. Quantitative research focuses on amounts or quantities of one or multiple variables (Leedy, & Ormrod, 2010). To further explain, Fischler (2010) states, “a type of educational research in which the researcher decides what to study; asks specific, narrow questions; collects quantifiable data from participants; analyzes these numbers using statistics; and conducts the inquiry in an unbiased, objective manner” (p. 12). In order to utilize this philosophy, the problem needs to be clearly identified, data needs to be collected and analyzed in order to come to a solid evaluation or conclusion.
Lack of systematic approach to staff reward, i.e. constructing reward system in accordance with the strategy and objectives of the company, results in loss of employee engagement and discouragers staff loyalty to the co...
Bratton and Gold (2003) describe a reward system as “The combination of extrinsic and intrinsic rewards delivered by the employer. It also consists of the incorporated policies, processes, performs and administrative processes for executing the system within the framework of the human resources (HR) strategy and the total organizational system”.
Monetary incentives is a great way to motivate employees to produce outstanding work performance. What better way to influence employees to do their best than by offering them extra cash. Not only does the employee get rewarded but the company is able to increase productivity. Monetary incentives not only increase employees productivity, it can also improve attitudes therefore
...r investigate what sort of rewards or fringes would their employee’s desire compared to the old method of monetary incentives for the beneficial for the company”.
While businesses are looking to get more from their employees, employees are also looking to get more from them. Through employee reward and recognition programs, employers can motivate employees to change work habits and key behaviors to increase the business’ profit. Employee reward system refers to programs set up by companies to reward performance and motivate employees on group or individual levels. They tend to be separate from employee salary but are some form of monetary rewards. Previously reward systems were considered the domain of large companies and businesses, but now even small businesses are offering them to lure top employees in a competitive job market or to simply increase employee job performance.
A number of motivational theories explain how rewards affect the behavior of individuals and teams. Performance related pay can have a motivational effect. Employees are motivated to increase prod...
An incentive or reward system refers to a program designed by an organisation to reward high performance and motivate workers on an individual and group basis (Corby et al. 2009, p. 2). Rewards are useful to a company operating in a competitive market. Although used interchangeably, rewards and recognition where the former can be monetary or non-monetary but has a cost to the company, while the latter is meant to offer psychological reward, for instance, oral public recognition or end of the year award. While the company does not provide financial incentive, it provides non-financial in the form of cars for its Sales Division consultants. This improves the working condition of the employees, but it does not improve their financial stance. Wright (2004) notes that some employees are more concerned with status, for instance, an executive desk, attractive office or business card (p. 76). Such incentive make the jobs and company attractive.
Creswell, J. W. (2009). Research design: Qualitative, quantitative, and mixed methods approaches (3rd ed.). Thousand Oaks, CA: Sage Publications.
Leaders can determine the allocation of valued incentives such as promotions, bonuses, raises, attractive work assignments, time off and compliments. The challenge presented by the use of reward power is that some of the rewards may have limited perceived value to the employee. A compliment of a financial payoff may not be a sufficient for an employee. Moreover the ethical conduct may not be observed by top leadership. Finally some of the rewards, such as salary increases or promotions, may be controlled by or more heavily influenced by, direct supervisors within the organization. If these supervisors do not share the same values as top leadership, employees are likely to be rewarded for behaviors using performance metrics more salient to the
Incentive reward engagement offers a win-win situation for the employees and the company. Kelleher believes that incentive is a form of recognition and builds engagement through company’s and employee’s obligations towards a common goal (2014). The company has a “Growth Incentive Scheme” for the production workers. Special monetary incentives are provided should the workers achieve the monthly output target. Through the rewards, employees feel motivated towards their work and thus, contribute towards the company’s
The research was designed using qualitative model based on exploratory design. This was done to facilitate multi-faceted study with a broader prospective. Basic percentage analysis was done to supplement qualitative analysis. The study was conducted with the help of a Questionnaire. To deepen the understanding data was collected from a variety of books, Internet web pages, and articles of different kinds conducted was descriptive in nature. Descriptive research includes survey and facilitating enquiries of different
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.