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Employee Rewards Assignment - Qbic Hotel Assignment

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Added on  2020-01-28

Employee Rewards Assignment - Qbic Hotel Assignment

   Added on 2020-01-28

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Employee Rewards
Employee Rewards Assignment - Qbic Hotel Assignment_1
Table of ContentsCHAPTER 1: INTRODUCTION ..................................................................................................1CHAPTER 2 LITERATURE REVIEW ........................................................................................2CHAPTER 3 : RESEARCH METHODOLOGY ...........................................................................6CHAPTER 4: ANALYSIS AND FINDINGS ................................................................................8CHAPTER 5: A CRITICAL APPRAISAL, RECOMMENDATIONS & SUGGESTIONS .......16CHAPTER 6: CONCLUSION.....................................................................................................17REFERENCES .............................................................................................................................18
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CHAPTER 1: INTRODUCTION Background of studyEmployees rewards is the process in which organization recognition of their workerstowards their efforts which they make of the company. It is one of the most effective wayswhich used by organization to motivated their workers. In many organization's customer'sinteraction is done by the employees so it is important to provide reward (Kravtsov, Кравцов,and Кравцов, 2017). There are several types of benefits which can be received by organizationfor proving reward to their workers. It is directly linked with the employee's performance.Through this method job satisfaction increased in employees and they become able to producedbetter work to the company. If employees are rewarded then their interaction skills are alsoimproved and they feel motivate. There are two types of reward methods which mainly includesmonetary and non monetary method (Kichuk, 2017). All these methods are used by companiesso they can motivate to their employees. Reward is also gives more benefits to customer of theentities as they become able to receive better work from the service provider. Along with thistechnique also helps to bring positive environment. Reward is that techniques which aid value inservice and helps to organization for adding more customers. It helps to business firm tomotivated their workers for performing their tasks in team. In the services industries, employeesare mots valuable assets for company as they help to make effective interaction with them withother people and helps to them for gaining more customer's in their business. They help toconsumers to making receiving their services in most effective manner (Choi,. and Joung, 2017).They are also considered as the medium in between employees and customers. It system canimprove skills and performance of employees. Qbic Hotel is small scale organization, whichoffering different types of services to their customers. The present study is based on theemployees reward in the organization and how it makes impact on company. Rational of study Reward is very important tool for the company as it helps to the business firm for retaintheir workers for the long term (Bustamam, Teng and Abdullah, 2014). At present there aremany organizations which are suffering from the high level of employees turnover rate becausethey do not receive any types of recognition from their working place. So it is important for theorganization to give provide reward to their workers so they can build long term relations withthem. By giving reward to employee, firm increases satisfaction level of their workers and if the1
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employees are satisfied then customers also get satisfaction (De Gieter and Hofmans, 2015).Business organization for making their operations more successful use such type of practices sothey can understand the requirement of employees. Along with this it also considered as the wayfor saying thank you to employees of valuable efforts which they make for the organization. Itcreates a sense of importance for the employees as his efforts are recognition by the company.In many organization HR, make a separate department for reward management so employeesefforts can be recognized within group (Snelgar, Renard and Venter 2013). It is always notimportant to provide monetary incentives to employees firm can also provide non monetaryincentives to their workers. Through this technique workers feel motivated so they can also givebetter work. For each and every types of organization reward matter. In the small scale industryit matters a lot as it helps to them for retain their workers to established long term businessrelationship with them. Aims and objectivesAimsTo understand factors which drives and motivates employees in work environment- Acase study of Qbic hotelObjectives To understand connection in between employees performance and rewards.To analysis the requirements of providing employee rewards in Qbic hotelTo review rewards and incentive programs in Qbic hotelTo provide recommendation for improving rewards system in Qbic hotelResearch question What would be the main aspects influencing employee and employers?What do the employees and employers benefit?What motivation should be done to increase performance?What would make an employee happy? CHAPTER 2 LITERATURE REVIEW As according to (Bustamam, Teng and Abdullah, 2014) there are many factors whichdrives employees for improving their performances such as employees appraisals, monetaryincentives etc. all these factors helps to employees for improving their performances. Byproviding employees rewards they motivated to their workers and helps to them for giving better2
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services. As according to (De Gieter and Hofmans, 2015) in the service industries most of thecustomer's interaction is done by the employees, as per their behavior they give review to theorganization. In every company it is important that , to give reward to their employees whichhelps to them for improving their performance. As according to the (Snelgar, Renard and Venter2013) there are various types of reward system, basically there are two types of reward methodsi.e. monetary and non monetary method. In the Monterrey system include to provide moneybenefits to workers such as increased salary, provide performance incentives etc. In non-monetary incentive includes giving performance sheets etc. All these methods are used bycompanies so they can motivate to their employees. As according (Agwu, 2013) by motivatingtheir employees they try to improve their performance. Reward system is core principle of thehuman management. There are several types of benefits which can be received by organizationfor proving reward to their workers. In order to enhance employees performance it is essentialelements which need to be taken into account. In the hotel industries it is very effective toolwhich helps to attract more customers in business. As according (Lillis, Malin and Mundy 2015)In the services industrializes most of the interaction are done by the employees. If employees arereward then their interaction skills are also improved and helps to them for increased theirperformance. By giving reward to employees , firm increases satisfaction level of their workers.If employees of the company are satisfied then it helps to them for giving better performance.As according (Aksakal and Dağdeviren, 2014), individuals are not making any type of effectiveinteraction if they are not satisfied with their workplace. Satisfied workers give better work andhelps to business firm for gaining more customers. Along with this technique also helps to bringpositive environment. Workers feel motivated so they can also give better work whichmaintained positive work environment in the company.As According to ( Kim, and Kim, 2016) reward system is type of invests which done bythe company so they can improve skills and performance of employees. Rewarding employees,encourage workers for improving their skills and performance in the long term. It creates healthyand positive work environment in the company. For receiving reward they try to improve theirperformance and skills. So it can be says that there is direct relation in between employeesperformance and their reward system . As according to the (Presbitero, 2017) requirements of the rewarding the employeesworks is important aspects. In the modern era with increases , globalization it is important to3
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retain good employees in the company. Competition among the organizations are very high andevery one want to take advantages of the competitive business environment as according to ().For business firm it is essential to keep their workers with them so they can make effectiveinteraction with their customers. Business organization are become more competitive in today'sworld so and they want to take each and every types of opportunities which help to them formaking their operations more successful. Along with this the another requirement of the rewardsystem is to enhancing productivity. As according to (Aravtsov, Кравцо and Кравцов, 2017)For maintaining long term relations with workers it is essential that to provide them some type ofmonetary incentives. With the help this technique they can associate with organization inbetter manner. Productivity is also enhanced by rewarding employees in the firm they getmotivated along with special. There many types of methods to motivated to workers but rewardis considered as the most effective tool. There are many business organization which areproviding high amount in their reward system. Through this they can attract more talents in thecompany. As according (Kichuk, A., 2017) most of the individuals are attracted to thosecompanies from which they receive good money. It is very effective technique that used byentities for pooling their business with talented people. As according to (Choi, E.K. and Joung,H.W., 2017) another requirement of providing reward to employees is way to thank their work.When organization give recognition to individual for their work it creates a sense of importancein their work. With the helps of this technique they encourage to their workers for achieving theirbusiness goals and taking their performance to the next level. In the small scale it is also createdsimilar importance as it helps to them for growth. As according to (Aravtsov, Кравцо andКравцов, 2017) SMEs have to maintained long term business relation with them. As according to the (Bustamam, Teng and Abdullah, 2014) in many entities reward areprovided to the many people who perform their work in team. By giving equal importance toteam and its members it helps to them for achieve their goals. Reward also helps to business firmto motivated their workers to give their work in team. There are many types of teams are allottedin the firm. Providing reward is also considered as the moral practices which need to be taken inthe company. Business concern need to provide some benefits towards the work which theygave to the firms. As according (De Gieter and Hofmans, 2015) it helps to company forimproving their business image and create more ethical environment within workplace. 4
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