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Dissertation On Reward Management

时间:2015-07-02 15:14来源:www.ukthesis.org 作者:英国论文网 点击联系客服: 客服:Damien
Dissertation On Reward Management

雇员总是被认为是在每个组织中扮演重要角色的人。员工和雇主之间的关系经常发生变化。本文提出了一种框架工作以留住员工,并奖励这些员工的潜力,他们正在不同的组织中以不同的水平被采取。

本研究通过文献研究、员工理念、人力资源管理、员工报酬管理等方面进行研究,从对研究的数据进行了分析比较,并验证了二次研究的结果,提出了多民族公司的员工的有效管理建议。

How can Multi National Companies use Reward management to motivate the Employees of Different Countries? : A Case of Marriott Hotels in UK.

Abstract

Employees are always considered as people who play a vital role in each and every organisation. The relationship between employee and employer changes frequently through out the years. Several concepts of employees are also varying time by time.

Now a day's employees are having the bargaining power and they are more concerned about their individual needs and well being of their working environment. This dissertation analyses various factors which motivates an employee to work within an organisation. Employee will stay in an organisation only when their expectations are satisfied or otherwise there is a chance for him/her to leave the company. High employee turnover is a big issue in companies today.

Organisations will look forward to retain only the potential key employees who will make real difference to their customers and their stake holders. This dissertation proposes a frame work to retain the employees and to reward those employees for their potential by which they are taking the organisation to a different level.

This research has been progressed through literature study on employee concepts, Human Resource Management and Reward management of employees. The data from the primary research has been analysed compared and verified with the findings of secondary research and produced recommendations for the effective management of employee in multi national companies.

Introduction

Reward management is nowadays considered as an important topic in order to achieve the goals of a company. Employees are considered as the main factor which plays an important role in the organisation. The success of each and every organisation is its dedicated employee's .Current world is filled with changes and competition. In order to survive in the current situation companies should be having employees who are loyal and expert in their own field. New technologies are developed constantly and the companies are eagerly trying to catch up those talented employees with right expertise in their own areas. Human resources as an important factor should get increased attention in managing business (Lindergen & Paulson ,2008)`. Multinational companies are facing increased challenges from all around the world due to globalisation.

1.1 Reward management

Reward system usually means the financial reward on organization gives its employees in return for their labour.The term rewards system, not only includes material rewards, but also non-material rewards. The components of a reward system consist of financial rewards (basic and performance pay) and employee benefits, which together comprise total remuneration. They also include non-financial rewards (holiday trips, moving to large office, recognition, promotion, praise, achievement responsibility and personal growth) and in many case a system of performance management. Pay arrangements are central to the cultural initiative as they are the most tangible expression of the working relationship between employer and employee. Many papers examine the role of organizational culture that is, the demand for monitoring compensation. Such investigations conclude that organizational culture places a significant role in determining the level of economic demands. Recent researches on industrial unrest indicate that reward criteria of the organisations both financial and non-financial rewards have tremendous influence upon the employees and employers performance.

Reward is a broad construct that can include 'anything an employee may value and desire that an employer is able or willing to offer in exchange for employee contribution'. A conceptual distinction can be made between the three main constituents of reward--type, system, and criterion. (Henderson 1989, p.2) Chiang, Flora F.T. ; Birtch, Thomas A (2006) An empirical examination of reward preferences within and across national settings. Management International Review

Reward type refers to the nature of the reward itself (e.g., financial and non-financial; extrinsic and intrinsic). Financial rewards include direct (e.g., basic salary) and indirect (i.e., benefits and services) as well as incentive (e.g., variable pay) and non-incentive (e.g., fixed pay) categories. Non-financial rewards, on the other hand, do not benefit employees in a monetary sense and consist of both extrinsic and intrinsic rewards. Extrinsic non-financial rewards are tangible rewards attached to the job and are given and controlled by a firm. Examples include employment security, promotion, status, relationships, and work conditions. By contrast, intrinsic rewards accrue from performing the task itself and are self-reinforcing. Job challenge, variety, and sense of achievement are good examples of this category.

Reward system represents the method or mechanism (e.g., seniority-based, performance-based) by which organizations determine employee reward outcomes (e.g., pay increases). Systems can be either performance or non-performance oriented. Where performance-oriented reward systems compensate employees based on how well they perform on the job, non-performance systems compensate employees based on a different set of criteria, such as seniority/years of service, and skills/competencies. Reward criterion then, refers to the basis of allocation (i.e., individual or group) used to determine the reward.(责任编辑:BUG)


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