Essays on Reward Management

Executive Summary

Nestlé is a large international company, leader in food and drinks retail sector. The organization is adopting aggressive growth strategy, which involves product line expansion in the Middle East and larger brand presence. The goals of the strategy will be achieved through organic growth as well as M&A. That said HRM strategy is central to the company. Nestlé employs Total Reward Management (TRM) system, Balance Scorecard and incentive-based approach to employee compensation. Importantly, Nestlé believes that retention and motivation of employees are grounded on the personal bonds between the company´s culture and employee. With that, Leadership and Management ...

REFLECTIVE REPORT: DEVELOPMENT OF A REWARD MANAGEMENT SYSTEM

Reflective Report: Development of a Reward Management System Overview of the situation The purpose of this report is to reflect on the organisational structure and management system at Sur University College in Oman. Sur University College offers a number of very important services to students and the community alike, but there are certainly struggles that the organisation experiences as well. The college is a diverse learning environment, and the organisation as a whole employs a number of staff, which often has a compounding influence on the overall fluidity and efficiency of internal organisational culture. Underperformance is sometimes a problem ...

REFLECTIVE REPORT: DEVELOPMENT OF A REWARD MANAGEMENT SYSTEM

Reflective Report: Development of a Reward Management System Overview of the situation I reflect my experience at TSB Bank, Benford branch in 2016. The bank was underperforming since the employees were unable to meet the monthly set targets. This situation impacted the bank’s revenue as well as the provision of services to customers. Even after several meetings between the head of operations and employees, the situation worsened each month. A team of specialist was set up to investigate the issue. I was given the mandate to lead this team, and our core task was to identify the problem ...

Development of Performance and Reward Management system in Nokia

Performance and Reward Management are very critical functions of Human Resource Management especially in Multinational firms which employ a diverse workforce. The performance Management and Reward management systems in these organizations have to address country specific issues to make them more effective. Well formulated policies for performance and Reward Management achieve important HRM objectives such as motivation, employee satisfaction and loyalty and low employee turnover. However changing workplace environment and external factors necessitate that these policies are reviewed and reformulated regularly to keep them aligned with organizational strategies as well as external environment. Due to the global implications of ...

Literature Review

Abstract Nowadays attracting and retaining professional and skilled staff has become a challenge for many companies. Many organizations experience significant turnover that adds complications to their business activity. Providing employees with the rewards of different kinds helps companies to deal with this problem, assists with retaining talent, and reduces expenses for hiring. The rewards offered by the organizations can be of different kinds and serve various goals. Rewards can be financial and non-financial, extrinsic and intrinsic. Management of these rewards differs from company to company and is usually designed to serve the certain goals of the organizations. One more ...

Introduction

Background In the contemporary business environment, the role of Human Resources has become a crucial and important component. Many traditional perceptions suggest that the HR is only perceived as a department to source and acquired new talents. However, most of the HR activities are far beyond the sourcing and employing the new employees. Human Resources Managers are involved in planning, coordinating, and directing the administrative responsibilities of the organization. According to Bach and Edwards (2013), human resources management allows organization and establishment of employment conditions that allows the employees to achieve the desired productive output while satisfying a wide ...

Introduction

In Human Resource Management (HRM), establishing an effective performance review program, which is reliable, accepted, and valid at all levels, is one the main challenges that HR professionals face (Nankervis et al., 2013, p.334). The report will analysis the best practices in Human Resource Management that involve functional activities and strategic plans. In the Department of Defense, the HRM is a vital element in the department that entrust a vital role to entice top talent employees, improves their service and ensures there are reference actions that are successful for desired results in the newly employees. Putting in mind, the ...

Introduction

Performance management is an important aspect of organizational function. It encompasses all the activities that concern the adherence to corporate goals. Performance management is an integral step towards the achievement of company objectives through sustainability (Roos, 1997, p.416). This is done in ways that promote organizational efficiency and consistency. Performance management can be streamlined to concern particular organizational units. Concerning this, it may regard to the activities of an organization’s departments or its employees. Through the creation of performance management strategies. Performance management has been cited in the field of corporate strategy (Youndt, 1996, p.840). Organizations use this ...

Introduction

Business operating in the global business environment recognizes that the human resource management plays a significant role in enhancing and company's strategy. In the contemporary world, the performance management has become one of the essential and necessary components of the human resources management in the workplace. According to Jiang et al. (2012), the performance management is the HR policies and practices that lead to a particular type or level of performance and the management of the individual employees. For the National Australia Bank Group (NAB) to remain competitive in the banking industry, it has to formulate and implement various ...

Introduction

The workforce of any organization is one of the key components in achieving success. An underperforming staff member presents a big problem to the organization because of the inefficiency of their work. In this paper, ways through which an underperforming store manager in Coles Stores should be handled will be addressed. Underperforming workers hinder the progress of an organization making it less efficient and unable to meet its goals and mission. These employees need to be dealt with in the realms of their rights. Most companies start off by counseling underperformers, if this does not work disciplinary action is ...

1. Generalised Theories and Principles relating to Organisational Change On the other hand, discontinuous change refers to the transformation of an organisation from past traditions to a new way of doing things. It does not refer to regular improvements or enhancements; rather, it is the name of introducing new patterns of carrying out certain activities or bringing an unorthodox type of change such as relocating a business or targeting a new demographic segment of customers (Ramanthan, 2008). (Rossetto, Rossetto, and Carvalho, 2009) 3. Testing and Application 3.1. Identifying Changes at Nike Nike has undergone several types of change during ...

Abstract

Background: This research is based on the background that human resource management and activities in the health sector of the Kingdom of Saudi Arabia is generally not evaluated as a unique component of independent studies. However, there is evidence that human resource management in the healthcare sector is very different from that of other sectors around the world. Therefore, the study sought to study the demographics, education, experience, career development and levels of job satisfaction amongst HR professionals in hospitals in Riyadh.

Methods: The study evaluated various components of the HRM practices and processes of hospitals in Riyadh. All ...

Executive summary

The international human resource practices in the worldwide business require effective management to ensure unceasing existence of the global business organizations. Avon being a multinational beauty company operates globally in the manufacturing and sale of the beauty products for women, apparel and fashion ornaments. It conducts its operations in over 100 countries and does direct marketing to its consumers through 5.8 million sales representatives and it has over 42,500 associates allied to it. This report incorporates discussions and evaluation of the strategic international human resource practices of Avon in terms of staff training and development, the reward management ...

Employee benefits include several types of non-wage compensation provided to workers on top of their regular salaries or wages. In cases where a worker transfers wages for some of another form of benefit is referred to as salary packaging or salary exchange arrangement (Shariatmadari, 2012). In most countries, most classes of employee benefits are taxable for at least some degree. Examples of such benefit comprise of housing (employer-paid or employer-provided), group insurance (health and dental, life), disability income assurance, daycare, tuition reimbursement, retirement benefits sick leave, vacation, social security, funding of education, profit sharing, and other specific benefits (Armstrong, 2007). ...

Executive Summary

Jinnikins Jeans functions in a highly competitive industry, and owing to cost pressure, it has taken some cost-cutting measures, such as outsourcing the manufacturing units to low cost countries like China and Sri Lanka, and laying off employees. Recently, the company has encountered a lot of people management issues. The lay-off measure has created a sense of insecurity among the existing employees, and attrition rate has become high. Since, most of the problems that the company is experiencing are people-centric, the company should take necessary steps to restructure the reward management system for motivating employees. This paper has touched upon the current ...

Introduction

Xerox Corporation is one of the leading multinational organizations having its reach over 180 nations and employing more than 140,000 employees. The company has diversified into providing services to four main areas including human resource, document management, healthcare and transportation other than the core area of providing photocopier services. Leading business and information technology systems have partnered with Xerox to get ultimate solutions to facilitate their systems and processes. Xerox provides optimal services in the area of technology so that firms can operate in an effective manner (Xerox Corporation, 2014).

Human resource practices in Xerox Corporation

Xerox Corporation believes that employees are its core ...

Introduction

People are complex and lots of different factors contribute to their overall level of job satisfaction. Happiness, career aspirations, challenges, money, stress are all factors that contribute to the employee motivation. Reward management is the method of recognition of employees’ performance by the financial and non-financial means. The components of financial rewards are basic performance pay (salary) and worker benefits, which are mutually involved in overall compensation. The non-financial rewards are connected with the promotion, admiration, success, accountability and personal growth (Armstrong, 2006). The crucial objective of the employee reward practices is to help attract, maintain and motivate high-quality ...

Executive Compensation and Total Reward Management

Introduction Contemporary businesses are increasingly concerned with the human resource management (HRM) practices as they realize the value, which is hidden in accurate and appropriate approach to managing human assets of the organization. It is evident that HRM function went a long way in the evolution process from supporting the element of the company to one of the critical constructs of strategic organizational development. Many modern corporations invest heavily in human capital in order to develop and grow talent inside the company (Armstrong, 2000). This trend is explained by the realization that motivation, retention and development of individuals within ...

The Equity theory was first developed by John Stacey Adams. Equity theory attempts to draw a relation between the pay of an employee to his input and eventual output at workplace. On the surface, equity theory advances the notion that the higher one is paid, the more input he should put and hence the more of the organizational output ought to be credited to him. However, the complexity of reward management system in various organizations makes the assumption flawed in some instances. This paper discusses equity theory, examines its modern day applications and critically reviews its place in management of ...

Introduction

I worked as a claim specialist at a City Law department, where I was entitled to massive duties, which required proper skills and understanding to execute duties appropriately. This job goes with several duties that need be carried out accordingly. I was required to arrange for a court appearance, through subpoena among other ways of witnesses required for proper presentation of a case. I was also supposed to confer with the attorney assigned to a case concerning the facts developed during an investigation as well as assist the attorney before and during trial. I could also prepare the court calendars and attend calendar calls. ...