Rewards Management Incentives For Employees

Rewards Management Incentives For Employees Reward management is whereby organisations distribute different types of incentive to employees both in the form of direct and indirect monetary and non-monetary rewards according to their contribution (Armstrong 1999). It is also an essential part of encouraging employees to work as you want, so that those goals are met. The goal of the reward management is to improve the overall organisations output and performance by developing a system aimed at rewarding employees of the organisation based on their contribution to the organisation (Armstrong Murlis 2007). In doing so, the employees will feel that they belong part of the organisation as their works are being recognised by their superiors. This will at the same time, create a sense of belonging and improve employees loyalty to the organisation. What are the exact roles played by the reward management in the organisations? Firstly, it allows the organisations to attract and retain suitable employees by paying the employees based on their excellent performance and ensuring direct and indirect rewards thus implying the organization recognises and values manpower. Therefore organisations are able to control labour costs so they can remain aggressive in the competitive market. Secondly, rewards improve employees work performance and keep them motivated. As all organisations want to improve productivity and enhance profit, effective reward management systems which lead to a more committed workforce will certainly play an important role. In addition, by having an effective rewards system, it will motivate employees to showcase their skills and abilities to obtain effective performance. Lastly, comply with employment legislation and regulations as employment laws changes occasionally in the UK and European Union hence the need make some modification (Bratton Gold 1999). What kinds of recognition and rewards do employees want most (Nelson 2003)? Nelson (2003) stated that employees value managerial support and involvement in organisation future projects. Being part of decision making, support them when they made mistakes and giving them trust and authority in doing their job. There are different types of praise employees wants, mainly personal praise, written praise, public praise and electronic praise. In this essay, I will mention about how rewards are seen as a powerful tools for driving cultural change in organisation in Singapore using Singapore Airlines, as an example, to show how rewards can drive cultural change. I will also mention whether rewards play a role in managing cultural and change in firm operating internationally with specific example from Pakistan. Also, some negative impacts of the reward system will also be discussed. Rewards system in Singapore During the 1960s-1980s, incentives such as rewards, benefits and recognition are not highly practice in the labour force. As the people then were poorly educated and the lack of family planning resulted in a large family, the heads of the family (mainly the fathers) most of the time do not have much bargaining power as they have only one think in mind, that is to support their family member at all cost. In order to feed their, they have to do whatever the company want them to and they would take on any jobs that were available to them. They did not expect any bonus and incentives from the company and they were easily satisfied as long as they can support their family. However as the government shift from labour intensive industry to knowledge base industry people are getting more highly educated than before, (people no longer stop at A or Diploma) more people will pursue higher education such degree. They no longer have the burden to support the family, like what their parents used to experience thus they no longer have the sense of loyalty and have more tendency to job hop whenever better opportunity comes about. They will tend to be fussy about the job they work in, choose jobs that they fancy or a better organisation who can give them higher benefits. Therefore organisations now have to come up with effective reward and recognition scheme to attract employees. It is proven that highly motivated employees will come up with high quality performance and by rewarding them it will also lead to employee job satisfaction. Singapore Airlines (SIA) is one organisation in Singapore who promotes motivating their staffs through rewards and recognition. Singapore Airlines adopt a series of rewards and recognition which include interesting and varied job content, symbolic forms of recognition and performance-based share options (Heracleous, Wirtz Pangarkar 2006). Recently SIA introduced a new benefit scheme rewarding their crews monetary whereby the company associated many types of variable components to the organisation financial performance such as salary according to the individual employee contribution to the organisation and profit sharing incentive (Wirtz, Heracleous Pangarkar 2008). A non-monetary form of motivation and recognition which the organisation came up with is by awarding the best crew with best cabin crew service award. By obtaining this award, it will boost the morale of the crew thus stimulate them to work harder. Another form of recognising service excellence is by communication. The a nnual Deputy Chairmans Award, Mr Sim stress the importance of recognition, We know that a pat on the back, a good ceremony, photographs and write-ups in the newsletters can be more motivating than mere financial rewards, hence we put in a lot of effort to ensure that heroes and heroines are recognised for their commitment and dedication (Heracleous, Wirtz Pangarkar 2006 p.165.) With such attractive reward scheme, the crew are highly motivated hence producing high quality service. All these factors helped SIA to build and sustain excellence service consistently for over few decades therefore Singapore Airlines was being crowned one of the best airlines in the world. Reward system in Parkistan Pakistan is developing into one of the more developed country in the world therefore in order to be kept up to date, the working environment is becoming more and more competitive. Organisation productivity is dependent on the employees hence employees request for extra training, skills and attractive package such as incentives, working conditions, recognitions and fringe benefits (Warsi, Fatima Sahibzada 2009). In every organisation, the performance of employees plays a crucial role in the organisation accomplishment. The success of an organisation is how an organisation keeps its employees motivated and shows how they value their employees. Nowadays people do not want to stay or work in an organisation for long, they will see there is any better opportunity outside and get better job prospect for that reason the relationship between organisation commitment and rewards and recognitions plays a crucial role in retaining good employees. In the recent year, many organisations hope that, through different types of incentive and performance recognition, to improve employee commitment and their performance in the organisation as rewards are being identified as the most important tool in recognising their contribution and performance (Danish Usman 2010). Rewards are deemed as a motivational tool for employees today as it able to motivate them thus increasing job performance and satisfaction. By motivating employees organisations can also increase their productivity by giving them recognition which will eventually lead to increasing organisation performance. There are many types of incentive, in the form of financial rewards (improved pay and performance bonuses), promotions and incentives (parental leave for sick children and family day) that satisfy employee to a certain extent. It has also been showed that rewards are required to ensure committed employees feel appreciated and to keep them motivated and committed (Dan ish Usman 2010). Rewards and recognitions is a form of communication with employees. It is a way to acknowledge their hard work, appreciate, motivate and to keep them committed. Thus employees feel that what they have done is being recognised and this will ultimately lead to increased employees loyalty and job satisfaction. Despite all the advantages of reward system, there is an also a disadvantage side of reward system. Although the reward system can motivate employees to do better in their work, it can also have a negative impact of the organisation. This is because rewards are usually very limited and precious, and as a result, this reward system has increased the competiveness of the employees in the organisation. As only a few employees out of the whole organization are entitled, this will lead to unhealthy competition between different departments of the organisation and even within the department itself. This will eventually lead to lower productivity because people no longer willing to share their knowledge with one another as they are afraid that others might have the upper hand to obtain the reward. In order not to lose out, they will no longer share their knowledge so in long term, this might not be beneficial as what they initially thought. In the commercial bank of Pakistan, they agree that rewards and recognitions play a significant role in helping the organisation achieving organisation efficiency. Employee motivation is identified as one of the main issues in the commercial banks. In todays competitive world, the organisation has to work closely together with the employees in order to remain competitive among peers. As the banking industry contributes to a large extent to the economy of the nation, it is important to ensure that employees are motivated since employees play an important role in todays highly competitive banking sector. The management of the bank have to come out with different ways to attract and motivate the employees since for most of the commercial banks, employee loyalty and motivation are important issues as it is not an uncommon scene to see a promising employees joined to a rival bank. As the employees play an important role in the banking industry to provide good service to the customers, their enthusiastic, commitment and determination towards job completion play essential role in the success of the bank (Khan, Farooq Ullah, cited in Cheng 2010). By providing excellent service, customers will have a good impression and developed a positive perception in their eyes. This is especially important for the banking sector. According to Khan, Farooq Ullah (cited in Petcharak 2010), maintaining employee satisfaction with their jobs has been included as one of the job scope for the human resource manager. This strongly suggests the importance of employee motivation. To improve the productivity of the organisation, it is important to have a pool of highly motivated employee. In order to achieve that, reward and recognition system plays an important role. This system not only provides financial rewards but also it encourages their morale and consciousness with regard to their job, resulting in improvement of individual performance which eventually benefited the entire team and even the organisation. It has also been reported that poor employee and organisation performance is usually caused by workplace displeasure. Conclusion From the example taken from both domestically and international firms, we can see a strong relationship between reward and organisations productivity. This strongly highlights the importance of reward system in todays labour market. Therefore rewards play an important role in ensuring that an organisation remains competitive and productive. Rewards lead to increasing employees motivation and job satisfaction which in turn lead to organisation profitability. Reward systems come from theories of motivation and experimental research evaluation strategies to motivate employees will affect job performance. Two most common of theories which discussed work motivation includes Maslow and Herzberg. Maslow states that higher-order needs become progressively more important as lower-order needs are satisfied (Bratton Gold 1999). Herzberg demonstrated that motivation of employees play a significant source of satisfaction when it comes to a form of reward (Bratton Gold 1999). Even though rewards might have some negative impacts on the organisation, with proper planning of the reward and recognition system I strong believe that the advantages of this system will surely outweigh the disadvantages. Therefore it can be seen that rewards do play an important role in managing cultural changes in firms operating domestically and internationally. Word Count: 1916 words References List Armstrong, M 1999, A Handbook of Human Resource Management Practice, 7th edn, Kogan Page Limited, The Bath Press, Bath. Armstrong, M Murlis, H 2007, Reward Management: A Handbook of Remuneration Strategy and Practice, 5th edn, MPG Books Ltd, Great Britain. Bratton, J Gold, J 1999, Human Resource Management Theory and practice, 2nd edn, Macmillan Press Ltd, Great Britain at The Bath Press, Avon. Danish, RQ Usman, A 2010, Impact of Reward and Recognition on Job Satisfaction and Motivation: An Empirical Study from Parkistan, International Journal of Business and Management, February, vol. 5, no.2, pp. 159-167, viewed 9 August 2010, Proquest Database. Heracleous, L, Wirtz, J Pangarkar, N 2006, Flying High in a Competitive Industry Cost-Effective Service Excellence at Singapore Airlines, Mc Graw-Hill Education (Asia), Singapore. Khan, KU, Farooq, SU Ullah, MI 2010, The Relationship between Rewards and Employee Motivation in Commercial Banks in Parkistan, Research Journal of International Studies, issue 14, pp.1-18, viewed 16 August 2010, Proquest Database. Nelson, B 2003, Five Questions About Employee Recognition and Reward, Harvard Management Update, September, vol. 8, issue 9, p. 3, viewed 9 August 2010, Proquest Database. Wirtz, J, Heracleous, L Pangarkar, N 2008, Managing human resources for service excellence and cost effectiveness at Singapore Airlines, Managing Service Quality, vol. 18, no. 1, pp. 4-19, viewed 9 August 2010, Proquest Database. Warsi, S, Fatima, N Sahibzada SA 2009, Study on Relationship Between Organizational Commitment and its Determinants among Private Sector Employees of Parkistan, International Review of Business Research Papers, April, vol. 5, no. 3, pp. 399-410, viewed 9 August 2010, Proquest Database.

Business Model of Toyota :: essays research papers

Business Model of Toyota As one of the leading automobile manufacturers in the world, Toyota ranks within the top three worldwide. Due to their unique business model, they are now have a market share of 14% in the first four months of this year. That is an astonishing 2.3% jump from the previous year. According to Autodata.com, the Toyota City based automaker ranks fourth in United States sales. We have determined that their business model is an Integrated Low Cost – Differentiated Strategy. It involves finding the lowest operational cost along with a unique niche or strategy that separates them from the competition. Toyota’s new statement â€Å"Moving Forward†, reflects their plans and expectations for the future. This includes the known and the unknown factors that a business must face. In 2000, Toyota launched a new cost effective strategy called CCC21 (Construction of Cost Competitiveness for the 21st century), for Low Cost operational expenses. With this aspect Toyota plans to advance such initiatives globally, based on its policy of purchasing the world’s best parts at the lowest cost with the shortest lead times. According to Toyota, they have undertaken a manufacturing revolution that has fundamentally changed established practices; all the way back to the product development and design. They have done this by integrating four areas: design, production engineering, procurement, and component supply. They have achieved higher quality at lower costs by creating standardized, multipurpose components. Also the reduction in cost has heightened the value and fortifies the competitiveness of product. To do this, Toyota has required intensive coordination with its suppliers. Another factor of their Integrated Low Cost is that Toyota steadily feeds cost improvements back into the product to raise their value along with the fact that four Toyota’s seven corporate auditors are outside corporate auditors. Toyota’s Integrated Differentiated Strategy is very unique to the automotive industry. Its main focus, according to the president of Toyota, is that Toyota is not trying to rival other automakers; Toyota is trying to conquer customers with great products and service to obtain high customer satisfaction.

Narrator of Moby Dick Essay

1.In this video, we immediately learn of an obsessed captain who wants revenge. Why does he want revenge and against whom or what? The captain wants revenge because he lost his leg to Moby Dick. 2.Who is the narrator of Moby Dick and what is the first line of the novel? The first line of the novel is â€Å"Call me Ishmael† and the narrator is Ishmael. 3.There are two significant Biblical allusions mentioned in the film. To whom do these allusions reference? How are the names significant? The two significant Biblical allusions are Captain Ahab which is the King Ahab in the Bible and the whale, which is a symbol of God or the Devil. 4.The narrator states that Moby Dick symbolizes three different meanings for three different characters. List the characters and the meaning which Moby Dick symbolizes for each of them. Captain Ahab sees Moby Dick as the devil. Starbuck sees Moby Dick as just a fish and Ishmael accepts both of them. 5.Why did Melville choose to write about whaling? Why was the industry significant? At that time whale oil was very popular and it made the whale industry a hit, therefore; Melville wrote about whales. 6.What did Melville do when he was 21? He set sail towards the South Pacific, but after four years he returned and wrote about his visit with everyone on the island 7.What established writer did Melville befriend while he was writing Moby Dick? While he wrote Moby Dick he befriended Nathaniel Hawthorne. 8.Comment on the four harpooners of the Pequod; politically, why were they significant? The four harpooners were of different races and represented different cultures. 9.What happens to the Pequod towards the end of the book? Ahab? Ishmael? They were out at sea, and noticed that deep in the ocean a whale was giving birth, but that all of it was terrorized because of other whalers that set in. Ahab is killed and Ishmael is the only survivor of Pequod. 10.What were the final years of Melville like? Melville’s final years were filled with personal tragedies and failure. 1.Ahab, do you think if you killed Moby Dick, your life would be better? 2.Ahab, do you want revenge because of the loss of your leg or because he took something more than your leg, like your pride? 3.Ahab, what would you have done if the whale didn’t bite your leg? 4.Ahab, why don’t you every mention your wife or son? Is a whale more important than them? 5.Ahab, how do feel about yourself knowing that you let people die for your obsession with Moby Dick?

The Klu-Klux-Klan During Recon essays

The Klu-Klux-Klan During Recon essays The Ku Klux Klan During Reconstruction The Ku Klux Klan and other intimidators like the Louisiana Knights of the White Camellia, spread rapidly throughout the south as an answer to radical reconstruction. Nathan Bedford Forest formed the Ku-Klux-Klan in Tennessee during 1866. Forest, a former Confederate general and slave trader, was the Ku-Klux-Klans first Imperial Wizard. This essay will weigh the evidence supported by the traditional view, that is, the Ku Klux Klan was an organization of white Southerners who resisted the horrors of reconstruction and halted the northern encroachment. This traditional view can also be dubbed the, white is right or racist view. The other popular view is called the revisionist view and it deems the Ku Klux Klan a violent and disrespectful organization set on overthrowing rule by negros, scalawags, and carpetbaggers. This essay will look at the horrific acts committed by the Klan during the period of radical reconstruction, question the morality of such acts, and conclude that it is indubitable that the Ku Klux Klan was in fact a terrorist organization which hindered social and political integration: that if these evil men had let congress win the new south would have been a better place. In 1866 congress was battling with President Johnson over reconstruction policy and congress was winning. The 10 per cent policy and admittance of state governments comprised of former confederates made some think the war was fought in vain. The Black Codes, laws enacted to repress the black man, had been struck down by the Radical Republicans. The radicals believed they should not accept the enemy back as prodigal sons. The passing of the fourteenth amendment as a stipulation of re-admission to the Union and the erecting of barbarous black governments; many southern whites hung up their gray uniforms and put on white hooded cloaks. The Ku Klux Klan was forme...

Henard, Learning Activity 5 Essays - Montessori Education

Henard, Learning Activity 5 Essays - Montessori Education Henard, Learning Activity 5 Montessori Program The Environment It is an open concept area that is warm and inviting to children. All of the centers are age appropriate and child size and in order according to area of the center, and that the children do not feel over-whelmed. Each area is structure to engage the child to master certain skills, while enjoying a bright happy place to play. (Intro to Early Childhood Education, 7e. pg.122). The Children Children range in different ages. They Montessori Programs encourage individual activities (p. 123) in which encourages self-motivation and independence in each child. Montessori Programs gear towards children ages 3-6 years of age. The Teachers The teachers more or less observe children as they go about different activities at the center. They never praise the children as the activities are geared to self-rewarding (pg. 123). The teachers also learn the curriculum and the methods of the program through a very intensive course study on the graduate level (pg. 123). The Materials The Montessori Program offers different didactics to challenge the children to problem solve and receive the immediate feedback on how it works and satisfaction on a job well done when the job is complete (pg. 123). The Curriculum It helps the children to refine their fine motor skills, self-help and learning, while playing, the everyday activities they see or do at home. While they are doing all of this, the sensory part comes into play. The children will use their five senses to do the activities at hand and include the gross motor skills (pg.123). Maria Montessoris plan was to incorporate learning skills in order to help the children to build self confidence in their self-esteem. The reason why I choose the Montessori Program is that the centers are open, warm and friendly to all who enter. It encourages children to explore and learn on their own with self-rewarding satisfaction, of knowing that they can accomplish anything they set their mind to. But, I also think that teacher involvement and creativity should be included in this, along with, language comprehension, reading, play acting, and encouraging the imagination. Resources: Intro to Early Childhood Education, WSCC ECED 1010, 7e. Essa. Pages 122-124.

Ethical Argument Paper Essay Example | Topics and Well Written Essays - 1250 words

Ethical Argument Paper - Essay Example These nations may and may not have set strict reasoning rule for abortion but al of these nations have accepted that a women is the only one who can decide in favor or against abortion of her child. Body Those against abortion have taken a stance that a fetus or an unborn is a human life and he should have all the privileges and rights that a human being has (Farrell 12). Undoubtedly, fetus is human according to the definition of a human in scientific terms and is expected to grow up as a human being after a certain period. Although, fetus is expected to transform into an individual, there fore there is a probability that he/she will transform into a human being and cannot enjoy the rights bestowed on humans. Since a fetus does not have the ability to exercise and enjoy the rights of a human, his rights should not conflict with the rights of a woman as she is already a fully grown human being. The debate whether abortion is ethically and morally right or wrong is dependant on the deb ate of personhood and rights of fetus and others involved (Garfield 81). It is essential for the debate as it helps in deciding the correct time when a fetus obtains the status of personhood. The issue of abortion has no end as there are conflicting views about the definition of person. According to United States, a fetus is only recognized as a person in accordance to the definition of a person provided by the constitution. The common law exercised in the areas of UK and US realizes that a fetus transforms into a human being or person as soon as he enters the world but not before that (Cave 2). This view point was exercised in the case of R v Tait during the period of 1989, within United Kingdom’s jurisdiction (Chadwick 115). Those who support the concept of pro-choice, state that no rights are bestowed on a fetus until and unless it seems feasible. In the case of United Kingdom it is 24 weeks, the concept of feasibility is very important to this argument because an individu al is not recognized as a person until and unless the society accepts him as a person (Simons 142). During the Roman era, a child used to gain the rights as soon as he was born and laid at his father’s feed, he used to gain rights only if his/her father picked him/her in his arms (Youssef 123). As soon as the father holds the child, the child gains acceptance into the community and gained all the privileges and rights of a person. If the father did not pick of the child, the child was considered as illegal and unwanted and was killed or if he was allowed to live, he used to have little or no rights at all and he was not acceptable to the society. It is very hard to decide when a fetus or a person is actually recognized as a person and allotted the rights that come with this acceptance. Those who are not in the favor of abortion use pro-life debate to support their arguments against abortion. According to them, the probability that an individual will end up being a person is e qual to an individual who has already been recognized as a person and should have similar rights. David Boonin states that the actual possession of personhood rights and the expected possession of the rights is one and the same thing (Oehlschlaeger 145). He further states that a fetus is going to transform into a person in future, thus he should and already has similar rights. An act is only considered as unethical of an

How the media portrayed Trayvon Martin Essay Example | Topics and Well Written Essays - 500 words

How the media portrayed Trayvon Martin - Essay Example Zimmerman reported that he shot him after Trayvon attacked him, and had done it in self defense. He was not charged for shooting Trayvon after the police concluded that there was no evidence demonstrating that the reports he had given were false. This paper will explore the portrayal of Trayvon by the media, explaining his case, and whether he deserved such portrayal. Mandel reports that immediately after the shooting of Trayvon, members of public and the media developed a narrative explaining why Zimmerman had killed the unarmed teenager, during the night of 26th February (1). The account reported that he had pursued the teenager and killed him in a brutal manner, due to Trayvon’s race. After the incidence, the media’s portrayal of Trayvon was that he was a young, innocent teenager who was victimized and killed in cold blood, for no good reason or cause. The media reported that the security guard had reported the questionable behavior of the teenager, which was supported by the audio of Zimmerman’s report to the police over 9-1-1. The audio report indicated that he suspected Trayvon, simply because he was an African American boy, which indicated that the case was largely one of racial violence. The audio recording of Zimmerman’s call, as given by NBC, reported, â€Å"Trayvon looked as if he was out to do something wr ong, and added that he looked black (Mandel).† The reports demonstrating Trayvon’s innocence were compounded by ABC’s release of video footage during the arrest of Zimmerman, claiming that, as he reported to the police – he did not have any injuries on his body. That report discredited the report that Trayvon had slammed Zimmerman’s head against the sidewalks. Later, ABC reported that they had edited the videos, eliminating the images showing Zimmerman walking to the police station, with fresh blood and wounds on his head. This time, different from earlier reports – like NBC and CNN – they reported that Trayvon attacked