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

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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