Importance of Reward System in HRM - Assignment

Added on - 21 Feb 2021

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Identify importance of rewardsystem
Table of ContentsProject Topic...............................................................................................................................3Introduction.................................................................................................................................3Aims and Objectives...................................................................................................................3Problem Statement......................................................................................................................4Research Methodology...............................................................................................................4REFERENCES.....................................................................................................................................6
Project TopicInvestigating contribution of reward system in context of talent attraction and retention ofemployees by company.IntroductionReward system is considered as one of the most important concept which helps company in gainingcompetitive advantages by attracting and retaining of best talented employees in the business firms.The present report is on Wilmar International Limited which is Asia's one of the leadingagribusiness group and ranked among largest listed companies as per the market capitalisation. It isdealing in products such asPalm oil, consumer pack edible oils, sugar, biodiesel etc. with 90000number of employees. Its revenue is US $43.09 as per data of 2014 (Wilmar InternationalWikipedia,2019).Aims and ObjectivesAimsTo assess the impact as well as importance of reward system on attracting and retention of talentedemployeesA study on Wilmar International Limited CompanyObjectivesTo evaluate how reward system has contributed in attracting and retaining of best talentedemployee in the company.To examine importance of reward system for business in gaining competitive edge.To recommend measures for Wilmar for overcoming challenges in context of employeesturnover.QuestionsQuestion 1.Which factors of company affected most by adoption of reward system for retainingand attracting talented employees ?Job satisfactionEmployee motivationDecrease in employee turnoverLow absenteeismQuestion 2.How reward system impacts employee retention as well as Wilmar company ?High quality performanceFosters employee’s creativityOpportunity to growPositive working culture
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