Effectiveness of Monetary Rewards in Enhancing Employee Motivation - Case Study on Strand Palace Hotel

Research Project

ABSTRACT
Employee motivation is the critical aspect of an organisation. motivate employees highly
contributes in growth and success of a business. Monetary rewards are one of the crucial
component through which an organisation can effectively motivate its employees. Strand Palace
Hotel is one among the leading hotels of United Kingdom with rating 3 star. This research is
based on effectiveness of monetary rewards in improving employee motivation. Providing
employees with monetary rewards proves to be very effective for the hotel as it helps in
increasing motivation level of employees and keep them retain within the hotel for long term. It
get various benefits of providing rewards to its employees in terms of increasing productivity,
enhance engagement of employees etc.

Contents
Research Project ABSTRACT.........................................................................................................1
TOPIC..............................................................................................................................................4
CHAPTER 1: INTRODUCTION....................................................................................................4
Background of the study.........................................................................................................4
Research Aim.........................................................................................................................4
Research Objective.................................................................................................................4
Research Question..................................................................................................................4
Rationale of the research........................................................................................................5
CHAPTER 2: LITERETURE REVIEW.........................................................................................5
CHAPTER 3: RESEARCH METHODOLOGY.............................................................................9
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION....................................................12
Data Analysis........................................................................................................................12
Data Interpretation................................................................................................................14
CHAPTER 5: CRITICAL APPRAISAL, RECOMMENDATIONS AND SUGGESTIONS FOR
FURTHER WORK........................................................................................................................23
Reflection.............................................................................................................................24
CHAPTER 6: CONCLUSION......................................................................................................24
REFERENCES..............................................................................................................................26

TOPIC
“Effectiveness of monetary rewards in enhancing employee motivation in an organisation
– Case study on Strand Palace Hotel”
CHAPTER 1: INTRODUCTION
Background of the study
Employee motivation is a very crucial aspect for an organisation which needs to be taken
into consideration by manager. It is very necessary for an organisation to keep its employees
motivated so that they are enable to perform their roles and responsibilities effectively and
accomplish organisational goals (Anitha, 2014). This report is based on Strand Palace Hotel
which is one of the well-known hotel in United Kingdom that offers various products and
services to its customers and satisfy their needs. This report is based on the topic “Effectiveness
of monetary rewards in enhancing employee motivation in an organisation – Case study on
Strand Palace Hotel”. It aims to analyse the effectiveness of monetary rewards in improving
employee’s motivation.
Research Aim
The research aim is “To study the effectiveness of monetary rewards in enhancing
employee motivation in an organisation – Case study on Strand Palace Hotel”
Research Objective
 To understand the importance of monetary rewards in improving employee motivation
within organisation.
 To analyse the ways in which company can implement monetary rewards to enrich the
employee motivation.
 To determine the challenges that establishment face while handling monetary system of
employees.
Research Question
 What is the importance of monetary rewards in improving employee motivation within
organisation?
 What are the ways in which company can implement monetary rewards to enrich the
employee motivation?

 What are the challenges that establishment face while handling monetary system of
employees?
Rationale of the research
The main purpose of conducting research on topic “To study the effectiveness of monetary
rewards in enhancing employee motivation in an organisation – Case study on Strand Palace
Hotel” is to analyse the effectiveness of monetary rewards. This research will help in
determining the ways to implement monetary rewards system within firm as well as ascertaining
the challenges that managers face while implementing monetary rewards. This will further help
in developing effective ways and strategies to overcome the challenges and effectively motivate
employees (Ashraf, Bandiera and Jack, 2014). This research has wide scope as this act as a base
for the scholars who conduct further study on the same topic.
CHAPTER 2: LITERETURE REVIEW
A Literature review is conceptual process of summary and description about the research topic
on the basis of review of scholarly paper and articles, books and online websites which are
relevant resources through particular research (Rao, 2014). It helps to determine the research
requirement and determining the nature of current research approaches. The topic which has link
between literature review is to base on employee motivation impact in organizational.
a) To understand the importance of monetary rewards in improving employee motivation
within the organisation.
According to the Shauna Geraghty, 2017, the monetary rewards are linked with the financial
incentives which are used to directly to motivate employees towards making a power of being
formation of status and respect plays a bigger role in sense of satisfying the social and
psychological needs of person (Ashraf, Bandiera and Lee, 2014). As by doing this particular
employee get appraised that his /her performance is getting recognized through big peers as well
as it is important that o retain those employees who are contributing for the company which is
more reliable assets towards the further goals, as there is following importance of monetary
reward which helps to improvising the employee performances as well as motivation are:
 By involving all employees in the development and implementation with revision of
reward programs.

Involving all employees through different position from significant department are
involved to encourage them and discuss about the procedure of reward system where the
awareness is enhancing towards the workforce of organisation in which they can shows their
interest in rewards program as with it making the assurance about the employees and the top
level management are appearing the on board reward system (Raziq and Maulabakhsh,
2015).
 To making ensures that employees are creating view as worth the effort for it.
As in the employee rewards system is a process in which the to making ensuring about
the perspective of reward system in employees view should be creates a worthy efforts by
which it brings the enhancement of rewards and efforts which make it employee productivity
increases (Cecere, Mancinelli and Mazzant 2014). In organisation the mangers should have
to mapped the employees inputs as well as by valuing their contribution and deliver the
rewards to them accordingly. Those employees who genuinely get the worthy view of the
reward the efforts will be more motivated to work by obtaining the favourable outcomes
toward the organization structure.
 Providing the better understanding about to earn reward through employee
perspective:
In organisation the managers responsibilities is to making clear about the proper
understanding of rewards earning through work deliverables as when it depends upon the
employee understanding about that what their managers are expected from them on that note
they develop their competencies and provides the more efficiency in work productivity to
meeting up the standards (Cerasoli, Nicklin and Ford, 2014).
b) To analyse the ways in which company can implement monetary rewards.
According to the Michelle Reynolds, 2019. As to enhancement of rewards system in the
organisation to encourage the employees as well as to development the structure of the
company norms and policies where the employees try to shows the interest in the rewards
program, but the optimum procedure to implementing of monetary rewards system in the
organisation as it following are: