Effectiveness of Performance and Reward Management System in River Island Fashion Retailer
Provide a brief introduction of the work. This should seek to identify from the outset what you are doing, why you are doing it (in terms of importance) and potential benefits (in terms of contribution). Background: provide a brief outline of the main concepts you will be focusing. Identify prominent academic scholars or debates that will be the focus of later chapters. Aim and Objectives: Provide one main aim, the usual practice is to revisit your project topic and then turn this into the aim using action phrases such as to explore, examine etc. Identify 3-4 research objectives, which flow from the main aim. Ensure there is a thread that flows from the topic to the aim and research questions and objectives. Also ensure that the literature review carried out supports the main aim of the project. It is better at this juncture to spend time mulling over this as it saves time and effort later on. Example Topic: A comparative analysis of the impact of gender differences on pay and career progression among male and female employees in the UK IT industry Research aim: To explore the impact of gender differences on pay and career
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Added on 2023-06-18
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This dissertation explores the effectiveness of performance and reward management system in River Island fashion retailer. It discusses the benefits of implementing a reward and performance management system and assesses its impact on employee performance. The study is based on secondary sources of data and provides recommendations for better implementation of performance and reward management systems.
Effectiveness of Performance and Reward Management System in River Island Fashion Retailer
Provide a brief introduction of the work. This should seek to identify from the outset what you are doing, why you are doing it (in terms of importance) and potential benefits (in terms of contribution). Background: provide a brief outline of the main concepts you will be focusing. Identify prominent academic scholars or debates that will be the focus of later chapters. Aim and Objectives: Provide one main aim, the usual practice is to revisit your project topic and then turn this into the aim using action phrases such as to explore, examine etc. Identify 3-4 research objectives, which flow from the main aim. Ensure there is a thread that flows from the topic to the aim and research questions and objectives. Also ensure that the literature review carried out supports the main aim of the project. It is better at this juncture to spend time mulling over this as it saves time and effort later on. Example Topic: A comparative analysis of the impact of gender differences on pay and career progression among male and female employees in the UK IT industry Research aim: To explore the impact of gender differences on pay and career
Added on 2023-06-18
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Research
Dissertation
Dissertation
Abstract
The current study is based on the topic of the analysing and identifying the effectiveness of
performance and reward management system for improving the productivity of employees for
which a study is lead out on the River Island fashion retailer. Further the main purpose of
current study is to discuss the benefits of implementing a reward and performance management
system along with access the effectiveness of reward and performance management systems on
employee performance. Beside this, the research methodology that has been used within current
study is based on secondary sources of data as it is easier and more efficient to collect and
analysis information based on secondary data. Along with this, due the covid-19 collection of the
primary data is not feasible and suitable as it neds more travelling and also consume more time
and resources. Further, the current study is also providing effective analysis of facts based on
thematic review along with the recommendation about the strategies or ways for better
implementation of performance and reward management systems. The findings of the study
include that effective reward practices also assist company in retaining as well as motivating
their workers that contributes in developing organizational performance. An effective reward
system needs to be linked with the performance development system in which manager of
company pay their employees as per their performance at working area.
The current study is based on the topic of the analysing and identifying the effectiveness of
performance and reward management system for improving the productivity of employees for
which a study is lead out on the River Island fashion retailer. Further the main purpose of
current study is to discuss the benefits of implementing a reward and performance management
system along with access the effectiveness of reward and performance management systems on
employee performance. Beside this, the research methodology that has been used within current
study is based on secondary sources of data as it is easier and more efficient to collect and
analysis information based on secondary data. Along with this, due the covid-19 collection of the
primary data is not feasible and suitable as it neds more travelling and also consume more time
and resources. Further, the current study is also providing effective analysis of facts based on
thematic review along with the recommendation about the strategies or ways for better
implementation of performance and reward management systems. The findings of the study
include that effective reward practices also assist company in retaining as well as motivating
their workers that contributes in developing organizational performance. An effective reward
system needs to be linked with the performance development system in which manager of
company pay their employees as per their performance at working area.
Table of Contents
Abstract............................................................................................................................................2
Title of the Project...........................................................................................................................1
Chapter 1: Introduction....................................................................................................................1
1.1. Overview of the Research...............................................................................................1
1.2. Background of the Research............................................................................................2
1.3. The rationale of the Research..........................................................................................3
1.4. Research Aim..................................................................................................................4
1.5. Research Objectives........................................................................................................4
1.6. Research Questions.........................................................................................................5
1.7. Research Methodology....................................................................................................5
1.8. Project Outline Structure.................................................................................................6
1.9. Conclusion.......................................................................................................................8
Chapter 2: Literature Review...........................................................................................................9
2.1. The Effectiveness of a reward and performance management system on employee
performance within River Island............................................................................................9
2.2. The factors River Island focuses on while measuring the performance of its employees.
..............................................................................................................................................12
2.3. The benefits of implementing a reward and performance management system for River
Island and its employees.......................................................................................................14
2.4. The strategies or ways for better implementation of performance and reward management
system...................................................................................................................................18
Chapter 3: Research Methodology.................................................................................................22
Chapter 4: Data Analysis and Findings.........................................................................................30
Chapter 5: Conclusion and Recommendation................................................................................39
5.1. Conclusion.....................................................................................................................39
5.2. Recommendation...........................................................................................................41
Chapter 6: Reflection.....................................................................................................................43
References......................................................................................................................................46
Abstract............................................................................................................................................2
Title of the Project...........................................................................................................................1
Chapter 1: Introduction....................................................................................................................1
1.1. Overview of the Research...............................................................................................1
1.2. Background of the Research............................................................................................2
1.3. The rationale of the Research..........................................................................................3
1.4. Research Aim..................................................................................................................4
1.5. Research Objectives........................................................................................................4
1.6. Research Questions.........................................................................................................5
1.7. Research Methodology....................................................................................................5
1.8. Project Outline Structure.................................................................................................6
1.9. Conclusion.......................................................................................................................8
Chapter 2: Literature Review...........................................................................................................9
2.1. The Effectiveness of a reward and performance management system on employee
performance within River Island............................................................................................9
2.2. The factors River Island focuses on while measuring the performance of its employees.
..............................................................................................................................................12
2.3. The benefits of implementing a reward and performance management system for River
Island and its employees.......................................................................................................14
2.4. The strategies or ways for better implementation of performance and reward management
system...................................................................................................................................18
Chapter 3: Research Methodology.................................................................................................22
Chapter 4: Data Analysis and Findings.........................................................................................30
Chapter 5: Conclusion and Recommendation................................................................................39
5.1. Conclusion.....................................................................................................................39
5.2. Recommendation...........................................................................................................41
Chapter 6: Reflection.....................................................................................................................43
References......................................................................................................................................46
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
1.1. 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 (Why Is Performance Management
Important? (+ Tactical Tips), 2021). 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 (PERFORMANCE AND REWARD SYSTEMS IN ORGANIZATIONS, 2017). 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
1
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
1.1. 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 (Why Is Performance Management
Important? (+ Tactical Tips), 2021). 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 (PERFORMANCE AND REWARD SYSTEMS IN ORGANIZATIONS, 2017). 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
1
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 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.
1.2. 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
2
Children's Clothing, Footwear, and Accessories. The company is concern 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.
1.2. 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
2
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
performance (Effectiveness of Performance Management System for Employee Performance
Through Engagement. 2020). 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.
1.3. 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,
3
as the important aspect to the business as it has become essential in accessing the employee’s
performance (Effectiveness of Performance Management System for Employee Performance
Through Engagement. 2020). 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.
1.3. 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,
3
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
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.
1.4. 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.
1.5. 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.
4
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
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.
1.4. 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.
1.5. 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.
4
1.6. 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
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?
1.7. 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
5
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
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?
1.7. 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
5
Research
Dissertation
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...........................................................................................................................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
1
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
1
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
2
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
2
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