Significance of monetary and non-monetary reward system with regards to talent management within hospitality sector: A study on Hilton

Research Project

Table of Contents
Introduction............................................................................................................................1
Background.............................................................................................................................1
Rationale.................................................................................................................................1
Literature review....................................................................................................................1
Research questions.................................................................................................................2
Research design......................................................................................................................3
Data Collection method..........................................................................................................3
Sampling strategy...................................................................................................................3
Sample size and type of participants......................................................................................4
Ethical consideration..............................................................................................................4
Project timeline.......................................................................................................................4
REFERENCES................................................................................................................................6

Title: Significance of monetary and non- monetary reward system with regards to talent
management within hospitality sector: A study on Hilton
Introduction
Talent management is the strategic human resource planning for improving the business
value and also make it possible for a firm to reach the define goal. In the same way, the current
study is based upon the different benefits option available for the company in order to meet the
define aim and objectives. Through this, study shed a light on the importance of monetary and
non- monetary reward system available for the company and with the help of secondary and
primary data collection methods, researcher meet the aim.
Background
In the competitive era, every company wants to stay ahead in the competition and that is
why, it is necessary for the company to make sure that it have strong employees which in turn
assist to meet the define aim and objective. Similarly, company also focused upon different ways
through which employees are motivated so that they help the firm to attain goals. The current
study is also help to create awareness related monetary and non-monetary reward system which
is mostly used by the companies in order to inspire employee for meet goals.
Rationale
The rationale for choosing the relevant topic is such that it will help the researcher to
gain knowledge related to different reward system available for the firm which help to take a
business at further level of success. Also, another reason for choosing this study is such that
researcher have their own interest to study on this particular issue because it is beneficial to have
enough knowledge with regards to the topic.
Literature review
In accordance with Idemobi, Ngige and Ofili (2017) monetary method are refers to the
financial reward to employees for attaining their target goals. This is basically involves cash
award, bonus, commission, gifts and many more. This type of reward system is majorly used by
the company in order to motivate the employees. On the other side, Kanwal and Syed (2017)
stated that non- monetary reward are designed to recognized a special achievement or else
completing the work as per the time. These are mostly used by the company but less important
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