Human Resource Management in GYC Financial Advisory Ltd : Assignment

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Added on 2020-07-22

Human Resource Management in GYC Financial Advisory Ltd : Assignment

Added on 2020-07-22

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Main body...................................................................................................................................1Question1. Remuneration packages which are related with various motivation theories......1Question 2. Strength and weakness of various remuneration packages.................................2Question 3. Retainer fee is effective for an organisation along with suitable strategy..........2Question 4. Advise to overcome the remuneration challenge................................................3REFERENCES................................................................................................................................4

Human Resource Management in GYC Financial Advisory Ltd : Assignment_2

INTRODUCTIONBusiness have to use appropriate theory properly for making an association remunerationpackage properly (Aswathappa, 2013). Each and every package have several strength andweakness which have to determine properly. Along with this, analyse the suitable strategy whichwill have to implement by an organisation for their portfolio executives. Moreover, variouschallenges are examine in an association when they are providing remuneration to employeesand prepare suitable strategies as well to get overcome from these problems. This assignment isbased on GYC financial advisory pte. Ltd. Get incorporated in year 1980 at Singapore.MAIN BODYQ1. Remuneration packages related with various motivational theoriesGYC is a financial advisory association whom have mainly four departments. All of themare providing support to make their clients satisfied. With every stage, different motivationtheories are related for every group of team members properly. For motivating them, majorreasons behind such concern are:Support staff: Managers using Maslow’s hierarchy of needs where they are providingbonus to staff members on the basis of personal execution, company performance andindustry carrying out (Boella and Goss-Turner, 2013). Business analyses all esteemrequirements properly and then take appropriate decisions. Business development: Clear targets set for these individuals which get paid by companyon the basis of revenue percentage. This supports them in working towards targetaccomplishment and for this, business can apply two factor theory of motivationproperly. Partners and practiser: Remuneration is provided to partners by creating a pool ofworking. Practiser create bonus on the basis of monetary factors and gain appropriatepercentage of money against GYC. This also facilitate in applying Maslow theory ofmotivation in an organisation properly. Portfolio executives: These people provide appropriate information to get overcome fromdiverse number of issues and problems. Non financial benefits: Company is also providing non-monetary benefits to theirindividuals. This also gets done by analysing all self-actualisation needs and1

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Human Resource Management in GYC Financial Advisory Ltd : Assignment