Effectiveness of Performance and Reward Management System in River Island Fashion Retailer: An Exploratory Study

This study aims to identify the effectiveness of performance and reward management system for improving the productivity of employees at River Island fashion retailer. The study will analyse the factors considered by River Island while measuring employee performance, benefits of implementing a reward and performance management system, and recommend strategies for better implementation. The study is important in developing suitable ideas and recognition concerning the aspect of rewards schemes and creates benefit for River Island or the other similar businesses to get the significance of rewards system in retention of employees at the workplace to generate more profitability and development.

Research
Dissertation

Table of Contents
Title of the Project...........................................................................................................................1
Chapter 1: Introduction....................................................................................................................1
Overview of the Research......................................................................................................1
Background of the Research...................................................................................................2
The rationale of the Research.................................................................................................3
Research Aim.........................................................................................................................4
Research Objectives...............................................................................................................4
Research Questions................................................................................................................4
Research Methodology...........................................................................................................5
Project Outline Structure........................................................................................................6
Conclusion..............................................................................................................................8
Chapter 2: Literature Review...........................................................................................................9
Chapter 3: Research Methodology.................................................................................................21
Chapter 4: Data Analysis and Findings.........................................................................................28
Chapter 5: Conclusion and Recommendation................................................................................35
Conclusion............................................................................................................................35
Recommendation..................................................................................................................37
Chapter 6: Reflection.....................................................................................................................39
References......................................................................................................................................41

Title of the Project
REWARD AND PERFORMANCE MANAGEMENT SYSTEM IN RIVER ISLAND
FASHION RETAILER.
An Exploratory Study of the effectiveness of performance and reward management system
adopted by River Island for improving the productivity of employees.
Chapter 1: Introduction
Overview of the Research
The study was initiated to analyse the effectiveness of performance and reward
management systems for improving the productivity of the employees at the workplace,
therefore, in the increasingly competitive market, businesses are widely concern about increasing
the performance of the employees as the entire growth and development of the business is relay
over the progression operation of employees. The success and development of a business are
often analysed through the degree of its productivity. The reward system is defined as the most
important aspect which has a direct or indirect impact on the mission and vision of the business
and provides sensation to the employees that a reward system will provide benefit for employees
and the business as well in the terms of increasing the operational ability of the business. Reward
system has a direct impact on the businesses to attract and retain employees which creating value
in developing the encouragement to providing suitable performance that may result in the
development of the business (Halawi, McCarthy and Aronson, 2017). However, the business
needs to develop programs like reward systems like compensation, rewards, perks, incentives,
bonuses, appreciation, medical benefits and so on, that are effective in fulfilling the employee’s
requirements and motivate them to put their efforts. In addition to this, an effective reward
system helps the business to reduce the extra turnover ad expense of recruitment, selection,
training and so on, thus, rewards systems help the business in retaining employees at the
workplace. In this present report, the analysis is relay over the study of River Island; therefore, it
is a high street fashion brand in London. The headquarter of the firm is in London, England,
United Kingdom. This is a well-recognised fashion, clothing, textile retail business that was
founded in the year of 1948 by the suitable efforts of Bernard Lewis and Brothers. The company
operates in several worldwide markets. It is a private fashion retains company, which deals in
Women's, Men's and Children's Clothing, Footwear, and Accessories. The company is concern
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about managing the higher reputation within the market and for that, the business is relay on
implementing suitable rewards systems for the employees to retain them for longer operations of
the business (Papadas and et. Al., 2019). The study mainly contains the suitability of the
performance and rewards management system for developing the operational ability of
employees at the workplace. The study is important in developing suitable ideas and recognition
concerning the aspect of rewards schemes and creates benefit for River Island or the other
similar businesses to get the significance of rewards system in retention of employees at the
workplace to generate more profitability and development. The study is creating benefits for the
researcher and the other interested people concerning the rewards schemes that are effectively
implementing by the business to developing the operational ability of the business. The major
reason for selecting the specific area for study is that employee retention, performance and
turnover are the major concern of the business in today’s modern era and the study is effective in
developing a range of knowledge concerning implementing an effective rewards system that will
create benefit for the business in encouraging the employees to put their significant efforts in the
growing operations of the business. The study is contributing majorly to the growing operations
of River Island and the businesses deals in a similar segment. The study contributes to resolving
the issue of higher employee turnover and the retention of employees at the workplace.
Background of the Research
The study aims to evaluate the significance of performance and reward management
systems for improving the productivity of employees. Therefore, the main problem that this
study is going to address is the staff turnover rate in the organization. By knowing effective ways
of implementing performance management, companies like river Island fashion retailers can
manage the performance of employees and can retain them (Manu, 2016). Meanwhile, this can
however be analysed to be more dependent on the attitude and morale of the employees in form
of their level of job commitment. The lower of less productivity is termed as the issue which
thrives in many developing and developed countries around of world though it is not limited to
the developing societies only. It is mainly said that employees are the heart of the organisation
and without employees, nothing can be put in place in any business, thus, employees are the key
aspect that utilized the available sources within the business for the production of the goods and
services in respect to fulfilling the desires of people within the market. Rewards systems termed
as the important aspect to the business as it has become essential in accessing the employee’s
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performance. Over the past few decades, the other elements in compensation have evolved to
render employers with a broad scope of rewards and thus, it motivates the employees at the
workplace to put their significant efforts into the growing operations of the business (Fiksel,
2015). The implementation of a rewards system is effective for the businesses to develop the
operational ability of the employees via motivating them to provide extra benefits like incentives,
bonuses, compensation, health care benefits, opportunity, and appraisal and so on, that are
creating value for the business and the employee to developing the performance of the
employees at the workplace. The study will contain suitable ideas about the concepts and models
related to performance management and reward systems in business to increase the performance
of the employees at the workplace to developing the operational ability of the business. A
suitable and in-depth analysis of the reward system will effectively be discussed in the section of
the literature review. However, the key focus of the study is to relay over performance and
rewards management system to developing the operational ability of the business, thus,
businesses and their management need to manage the performance of employees and also
providing them rewards and incentives to developing the operational ability of the business. The
section of introduction is effective in providing descriptive evaluation about the chosen study
area and the literature will further create value in developing the theoretical framework to
support the study. In addition to this, the suitable selection of methodology helps in providing an
appropriate structure to aid the work in the right manner (Ibrahim and et. Al., 2017). The analysis
section is supportive in descriptively evaluating the information and helps in generating effective
results. Furthermore, conclusion and recommendation are created to providing an idea about the
impact of rewards schemes over increasing the performance of employees and suitable
suggestions have been provided to making further improvement.
The rationale of the Research
The key rationale behind executing the analysis over the aspect of identifying the
effectiveness of performance and reward management system for improving the productivity of
employees, is that, it is the most concerning area of study, in today’s modern business
environment organisations are facing the issue of employee turnover, rewards system and so on,
that has a direct and indirect impact over the operations and progression of the business. Another
intention of executing the analysis is the personal interest of the researcher as the investigator
wants to explore ideas and knowledge concerning the aspect of rewards system in increasing the
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operational ability of the business (Prasetyo and et. Al., 2021). The study is significant in
developing individual skills and knowledge concerning the chosen subject as the study is
creating value for the businesses in determining the suitable reward systems that help the
business to grow via increasing the retention of the customers. The study is effective in
developing personal as well as professional knowledge as the personal skill will be creating
value in attaining suitable academic records to attaining higher growth and success. The
professional ability will help in aiding the study in the right manner to aid the study in the right
manner. the research into consideration has a wider scope as it can help students at the academic
level in knowing the importance of managing performance and the reward system to increase the
performance of employees at the workplace.
Research Aim
The main aim behind conducting this research is: “To identify the effectiveness of
performance and reward management system for improving the productivity of employees”. A
study on River Island fashion retailer.
Research Objectives
This is termed as the clear and concise statement which states the idea about the intention of
executing the research in the right manner. Therefore, this directly connects with the aim of the
study, as the suitable objectives that are connected with the specific study area are associated as
under:
 To access the Effectiveness are reward and performance management systems on
employee performance within River Island?
 To identify factors River Island focuses on while measuring the performance of its
employees.
 To discuss the benefits of implementing a reward and performance management system
for River Island and its employees.
 To recommend strategies or ways for better implementation of performance and reward
management systems.
Research Questions
This is the most area of study, which mainly provides suitable assistance to the investigation
via presenting the research issue in question form. However, this section of research is widely
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connected with the aim and objectives of the research and the suitable assessment of the
questions which are relay over the specified subject are defined as under:
 What is some effectiveness of reward and performance management system for
improving employees’ performance?
 Which factors need to be considered by River Island retailers while measuring
employees’ performance?
 What benefits does River Island can take by implementing reward and performance
management?
 Which strategies should be used by River Island for performance and reward
management?
Research Methodology
This is defined as the most effective and important tool to gather valuable and reliable
information to assist the investigation and the right manner. Therefore, research methodology is
a specific process or tool which is implemented to identify, choose, process and evaluate data
concerning a specified subject area. In an investigation work, the section of methodology allows
the reader and researcher to critically analyse the study’s overall validity and reliability
(Shorrock and Williams, 2016). Therefore, in the case of this present investigation work, based
on the aspect of identifying the effectiveness of performance and reward management system for
improving the productivity of employees, a suitable selection of methodologies is important to
draw valid and reliable outcomes.
Research Philosophy: An investigation philosophy is termed as the belief concerning a
way in which information related to a specified phenomenon is needed to be accumulated,
evaluated and implemented into action. The selection of philosophy is relaying over two aspects
i.e. Interpretivism and positivism research philosophy. In the case of this present investigation
work, interpretivism philosophy will be the most suitable tool to execute detailed analysis with
the support of integrating human interest within the study. In addition to this, Interpretivism
philosophy is theories about how the individual can gain knowledge of the world that freely
incorporates over-interpreting or understanding the meanings which humans attach to their
actions. This aspect is effective in providing detailed evaluation over analysing the views of
people over the aspect of performance management and the reward system to increasing the
performance of the employees at the workplace (Hallegatte, Rentschler and Rozenberg, 2019).
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Research Type: Research choice is mainly related over three aspects i.e. mono, multi and
mixed research methodology. The Mono method is the tool where investigation can only be relay
over qualitative or quantitative aspects. The mixed tool is encompassing over the use of two or
more methods of investigation and commonly refers to the use of the qualitative and quantitative
methodology. Finally, the multi-method uses a wider selection of methods (Kerr and et. Al.,
2016). In the case of this present investigation work, the mono method has been implementing
by the researcher as here, qualitative study is considered by the researcher because it is well
suitable to executing detailed investigation with the accumulation of theoretical and non-
numerical information. However, the assessment is mainly relaid over theoretical aspects that are
based on the aspect of managing performance and reward systems in increasing the operations of
the business.
Data Collection tools: This is the most important aspect to be considered at the time of
executing the study in the right manner, as the entire execution of the investigation is relay over
the sources of data collection, Therefore, the accumulation of information is based on two
aspects i.e. primary and secondary source of data collection. In the case of this present
investigation work, based on the aspect of identifying the effectiveness of performance and
reward management system for improving the productivity of employees, an investigation is
mainly based on secondary sources as it is the most suitable way to develop descriptive
evaluation via analysing the concepts, theories, models and theoretical frameworks that are relay
over the specified subject. However, the accumulation of suitable information is relay over
secondary sources like books, journals, articles, online sources and so on, that are connected to
the specified subject. Primary research needs approval from the business and there is no approval
taken from the business, so the second study is the most appropriate tool which helps in
providing a detailed evaluation to analysing the issue and providing suitable results (Ali, Shohib
and Ibrahim, 2021).
Project Outline Structure
This, section of investigation is effective in providing an evaluation of the chapters that are
covered on the project, thus, a compelling construction is required while directing an exploration
project; a proper structure helps the researcher in executing all examination exercises powerfully
and productively. The structure includes different angles which all are depicted as under:
Chapter 1: Introduction
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This can be considered as the primary phase of exploration as it begins with an outline of
the task which depends on a specific issue. This is an underlying stage that gives an
unmistakable aim about the significant motivation behind research as in this the significant issue
of examination is carried out as articulation which gives a reasonable heading to the scientist to
execute all exercises in the right way (Kerzner and Saladis, 2017). Therefore, the section covers
the overview of the research, background information, rationale, aim, objectives, questions, brief
idea about the methodology.
Chapter 2: Literature Review
This is likewise another fundamental piece of exploration project which gives the analyst
to direct an inside and out research on some predefined space of study. This information must be
assembled through secondary sources like books, journals and online sources. This piece of
examination gives a solid base to the exploration project by giving a hypothetical system and
theoretical framework. In this present investigation context, a literature review will be supportive
in developing a theoretical perspective via accumulating information from the secondary sources
over the aspect of identifying the effectiveness of performance and reward management systems
for improving the productivity of employees.
Chapter 3: Research Methodology
This can be assessed as the best piece of examination project which helps the scientist in
do an entire investigation into the suitable course through choosing a pertinent system for the
specific venture. This stage comes after the part of the literature review and it is fundamentally
founded on different instruments and methodological tools. This section supports the
investigation via analyzing its type and aiding the work in the right manner (Tan and Bhaskaran,
2015). This section involves the selection of research philosophy, type, strategy, choice, data
collection tools and so on, that are effective for the execution of the present study. In this present
study, the selection is mainly relaying over qualitative analysis.
Chapter 4: Data Analysis
This comprises to be the most fundamental piece of examination project which helps in
dissecting the information and data which are accumulated by a researcher as to accomplish the
important and proper result. This segment assumes a successful part in giving a brief portrayal of
the statistical data points which are broke down by the investigator. In the case of this present
study, the chapter is mainly relaying effectively over-analyzing the information to generate
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specific results, therefore, the thematic analysis approach is mainly being considered to develop
detailed analysis as it is widely suitable for qualitative study (Otieno, 2019).
Chapter 5: Conclusion and Recommendation
It very well may be depicted as the last phase of the examination project which gives a
reasonable assessment of the specific space of study. This gives a short conversation about the
exploration and its different components. In this proposal are likewise given for setting up
progress in the current space of study and gives a reasonable bearing to direct powerful research
project in future planning.
Chapter 6: Reflection
This is another important area to be considered in the investigation, where personal
experience about the execution of the study has been discussed by the researcher. In addition to
this, the chapter is also significant in analyzing the personal experience of the investigator and
the challenges they have faced during the execution of the study and the suitable skillset that are
increased with the assistance of the study are being discussed (Chen and et. Al., 2017). This
chapter is also supportive in providing future benefits of the study and the enhanced skills and
abilities of the researcher.
Conclusion
This particular chapter contains a brief evaluation about the aspect of identifying the
significance of performance and reward management system for improving the productivity of
employees and background to provide a detailed evaluation about the subject area. in addition to
this, the reason for executing the study has also provided where the potential reason for
executing the study is the increasing issue of employee turnover and how the assessment of
rewards system and performance management is effective in resolving the issue of employee
retention and employee turnover. Suitable aim, objectives and questions are providing suitable
understating and the intention of the study (Singh and Ramdeo, 2020). After the suitable
implementation of the aim and objectives, the next chapter is to be considered in the literature
review, where suitable evaluation has been executing over the area of program management and
reward system to increasing the operations of the employees at the workplace.
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