Importance Of Reward Mechanism For Employee Motivation | Assignment

Added on -2020-02-12

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Project TitleTo assess the importance of Reward Mechanism to the Managers for increasingemployee motivation & retention: A Study of Hilton, UKAbstract Introduction It has been determined that implementing suitable system of reward within theorganisation act as an aid in helping towards making sure team of highly motivatedpersonnel within the firm. The role of reward system is effective in retention of efficient
personnel and offer motivation to the employees to attain the goals in an appropriateway. Motivation considers the stimulating factors that offers encouragement to theindividual at workplace Armstrong and Brown (2006). The proposed research is basedon making assessment of importance of reward mechanism to the managers forenhancing motivation as well as retention at Hilton UK. The concept of reward reflects the system or procedure that demonstrates rewardallocation, compensation, as well as several other intrinsic as well as extrinsic rewards.The mechanism is based on work performance of the personnel. Reward mechanismpresents the execution of the policies within the firm based upon which the firm cangain fair, equal as well as valuable rewards Cummins (2011). Motivation is regarded asthe factor that stimulates or affects the personnel in relation to work or provides themmotivation for meeting the requirements and desires needs (Malhotra and et. al. 2007).It is comprised of internal and external factors which is considered as the major aspectthat motivates the personnel to make suitable efforts in attaining targets.Reward system has greater impact not on the personnel but on the performance of thefirm. For example, company has employed reward system which has allowed employeesto gain better advantages in terms of monetary values. It means it assist in meeting longterm goals and objectives. Along with this, such values enhances the morale ofworkforce so that they can have impressive efforts to meet objectives. Such aspectenhances the work productivity and improve overall performance of business entity.The initial one is for the employees and secondly it is effective for the organisationalperformance as well. The major aim of the reward system is towards motivating thepersonnel and retain them for long time span through satisfaction of their financialneeds Malhotra and et. al. (2007). This is dependent on kind of reward that states thatwhether it would affect the employees to greater extent or not. The proposedinvestigation is based upon assessment of the significance of reward mechanism tomanager of Hilton UK and way it enhances the motivation among the personnel and
their retention. The objectives of the proposed research have been devised so thatinvestigation can be carried out in specific direction RationaleEmployees are considered as one of essential asset of the firm as they are key inattaining the goal of the business (Armstrong and Murlis 2010).The rationale beside carryingout the present investigation is towards making assessment of the significance of rewardmechanism for the managers within hospitality sector business such as Hilton hotel. The firm isleading hotel within market of UK. It is being seemed that there is greater significance for thehotel's management to offer primary attention towards the areas that offers motivation to thepersonnel and ensure their retention within the organisation Kasmi (2011). Incorporatingsuitable system of reward for hotel assist in keeping the staff satisfied and stimulate the inpaying greater efforts towards roles and responsibilities.Proposed investigation on assessment of the importance of reward system would assist thehotel in gaining knowledge regarding the significance of giving reward among the personnel.Today there is increase in number of personnel who are leaving the organisation, this is due toabsence of motivation among them. This can be ensured by incorporation of effective rewardmechanism that help in motivating and retaining the employees (Hsu, 2006). By the means ofpresent investigation, the firms would be able to know about manner of retaining highly skilledpersonnel. This is considered as the major solution. Along with this performance of theemployees needs to be the major criteria in order to offer reward so that issues related withbiasness can be minimized. The technique of monitoring can be used along with feedback forsuperiors so that reward can be provided and issues of employee turnover can be reduced to agreater extent. Research questions 1.What is the significance of reward mechanism for managers within hotelindustry? 2.How staff motivation is significant in affecting the retention of the personnel?

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