Effectiveness of Monetary Rewards in Enhancing Employee Motivation

This research project proposal focuses on studying the effectiveness of monetary rewards in enhancing employee motivation in an organization, with a case study on Strand Palace Hotel. It covers the research aim, objective, background, rationale, literature review, and methodology.

Research Project Propose
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TOPIC..............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Background of the study.........................................................................................................1
Research Aim.........................................................................................................................2
Research Objective.................................................................................................................2
Research Question..................................................................................................................2
Rationale of the research........................................................................................................2
LITERATURE REVIEW................................................................................................................2
METHODOLOGY..........................................................................................................................4
REFERENCES................................................................................................................................5
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TOPIC
“Effectiveness of monetary rewards in enhancing employee motivation in an organisation
– Case study on Strand Palace Hotel”
INTRODUCTION
The aspect of employee motivation is viewed as one of the critical aspect at workplace .
It is regraded as the process or procedure of identifying the employees demands and interest as
well as monitoring their performance in order to take appropriate action for rendering high level
of motivation and satisfaction to personnel. Moreover, there are various ways to motivate or
encourage an employee i.e. monetary and non monetary rewards system. However, as per the
recent studies it has been stated that cash benefit is one of the core aspect in empowering a
personnel interest and contribution towards the company. In regard of this report, Strand Palace
Hotel has been considered which a branded and reputed firm in UK hospitality industry. It is
headquartered in UK and serve wide range of products or services across the globe. In this
research report, it covers research aim, objective, background, rationale, review of literature and
methodology for producing reliable report in market.
Background of the study
In context of this research, Strand Palace Hotel has been regarded which is one of the
well established 3-star hotel in UK hospitality industry. It is incorporated in the year of 1909.
Moreover, it deliver various kinds of product or services all over the world in a better and
improved quality that help them to place their brand in a better position. Along with this, one of
the foremost unique feature of Strand Place hotel is that its location as it is connected to
international airport, bus stand, railway lines that make consumers feel more comfortable in
order to consume the brand in a better way. In addition to this, they are also familiarised for
adopting innovative and digital technology within its functional unit that drive them to gain
competitive advantage among competitors. Moreover, this research provides the overview of
impact of monetary rewards system in term of enriching employee motivation towards the brand.
Furthermore, it also demonstrates the idea of different research methodology which investigator
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implies for gathering the data with an intent of producing reliable report in a desired time
duration.
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 core reason behind preferring this title is that it enable researcher to identify the
connection or relationship between monetary system and employee motivation. Hence, in
majority of the organisation, manpower motivation plays a vital role in enhancing the hotel
overall productivity ratio. In addition to this, by organising this type of study help hospitality
sector to identify the need or interest of each personnel and also lead them to take corrective
course of action with an intent of retaining employees for longer time period in an organisation.
Additionally, by conducting this research, it help investigator to acquire knowledge or
information about various type of research methods which aid them to deliver accurate and
reliable report in a stipulated time duration.
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LITERATURE REVIEW
To understand the importance of monetary rewards in improving employee motivation within
organisation.
According to Prachi Juneja, 2019, Motivating force is a demonstration or guarantee for
more prominent activity. It is additionally called as a boost to more prominent activity.
Motivating forces are something which are given notwithstanding bets. It implies extra
compensation or advantage to a representative in acknowledgment of accomplishment or better
work. Motivating forces give a spike or energy in the workers for better execution. It is a
characteristic thing that no one demonstrations without a reason behind. In this manner, a desire
for a prize is an amazing motivator to spur representatives (Motivation Incentives - Incentives to
motivate employees, 2019). Other than money related motivating force, there are some other
boosts which can drive an individual to better. This will incorporate employment fulfillment,
employer stability, work advancement, and pride for achievement. Subsequently, motivating
forces truly can now and then work to achieve the objectives of a worry. Some of the benefits
which an organisation acquire due to employee motivation like increase productivity, stimulus
work, enrich manpower commitment and many more.
To analyse the ways in which company can implement monetary rewards to enrich the employee
motivation.
In the views of Shauna Geraghty, 2017, The motivation improves the productivity level
of workers which implies the representatives start playing out the activity as well as could be
expected with least wastage of time and assets in light of the fact that propelled representatives
consistently go for best usage of assets. The inspiration crosses over any barrier between the
capacity to work and readiness to work and ability consistently improves productivity (20 Ways
to Increase Employee Motivation Using Rewards, 2017). Some of the strategies which an
organisation implies into their functional unit are encouraging all manpower to take participate in
all business activities or rewards programs, setting transparent performance and son on. Hence,
with the application of such initiation drive hotel sector to retain their customer for longer time
period.
To determine the challenges that establishment face while handling monetary system of
employees.
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As per the views of Mario, 2019, Employee motivation is refereed as one of the essential
elements for attaining sustainable growth and development. On the contrary, it also bring huge
difficulties within organisation, if they fails to encourage its personnel. Some of the challenges
that hotel industry come across during practising monetary system are conflicts of interest,
confusions, ambiguities, Henceforth, proper identification of potentiality of each manpower and
delegating them in a right place (The 31 Biggest Business Challenges Growing Companies Face,
2019). With the help of this, it empower hotels to obtain increased level of manpower
satisfaction or motivation toward the brand. Moreover, it also drive them to enlarge the volume
of sales growth in an effective way.
METHODOLOGY
Data Collection: This introduces as an effective process which is used by researcher to
collect primary and secondary information about the selected topic. Questionnaire will be used
for gathering primary information or data whereas books, magazines, articles etc. sources used
for collecting secondary information. Therefore, both sources of data collection are useful for
conducting primary as well as secondary research. As these sources will also help investigator by
providing detailed and reliable data regarding the current investigation.
Sampling techniques: Sampling refers to the systematic process which support
researcher in selection of sample size. There are basically two methods of sampling such as
probability and non-probability. Both techniques of sampling are important but according to this
research, probability sampling will be applied. 30 employees will be selected on random basis.
Simple random sampling is a type of probability sampling which is cost and time effective
technique. On the other hand, non-probability sampling is not followed for selecting sample size
for this project. This method of sampling require additional cost and resources of investigator or
organisation.
Research Choice: This section of research methodology is divided into two different
parts which are qualitative and quantitative. Among this type of research choice, quantitative
method of research will be applied by investigator. Main reason behind selecting this choice as it
support in gathering of information in numerical manner. Questionnaire will be used for
collecting quantitative information. On the other hand, qualitative research is not appropriate for
doing this investigation in appropriate manner. As this type of research choice require maximum
resources and time of an investigator.
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REFERENCES
Books and Journals
Online
Motivation Incentives - Incentives to motivate employees, 2019.[Online]; Available Through. <
https://www.managementstudyguide.com/motivation_incentives.htm >
20 Ways to Increase Employee Motivation Using Rewards, 2017.[Online]; Available Through. <
https://www.managementstudyguide.com/motivation_incentives.htm >
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Research Ethics approval form
All students conducting research activity that involves human participants
or the use of data collected form human participants are required to gain
ethical approval before commencing their research. Please answer all
relevant questions and note that your form may be returned if incomplete.
For further support and guidance please see your respective Unit Tutor:
Before completing this form, we advise that you discuss your proposed
research fully with your unit tutor. Please complete this form in good time
before your research project is due to commence.
Section 1: Basic details:
Project title:
“Effectiveness of monetary rewards in enhancing employee motivation
in an organisation – Case study on Strand Palace Hotel”
Student name:
Student ID number:
Programme:
College Name:
Intended research start date:
Intended research end date:
Section 2 Project summary
Please select all research methods that you plan to use as a part of your
project:
 Interviews Yes No
 Questionnaires Yes No
 Observations Yes No
 Use of personal records Yes No
 Data Analysis Yes No
 Action Research Yes No
 Focus Groups Yes No
 Others (Please specify) :
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Section 3: Participants
Please answer the following questions, giving full details where
necessary.
Will your research involve human participants?
Who are the participants? Tick all that apply:
Ages 12-16: Young people aged: 17-18 Adults
How will participants be recruited (identified an approached)?
Candidates are selected on random sampling basis. Employees of CADBRY are selected for
this purpose.
Describe the processes you will use to inform participants about what
you are doing:
E- mail is the method to inform participants about process rate and
schedule of investigation.
How will you obtain consent from participants? Will this be written?
How will it be made clear to participants that they may withdraw
consent to participate at any time?
Consent of participants are collected in the written form which is authentic for research
purpose.
Studies involving questionnaires: will participants be given the option of
omitting questions that do not wish to answer?
Yes No
If no please explain why below and ensure that you cover any ethical
issues arising from this
Studies involving observation: Confirm whether participants will be
asked for their informed consent to be observed.
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Yes No
Will you debrief participants at the end of their participation (i.e give
them a brief explanation of the study)?
Yes No
Will participants be given information about the findings of your study?
(This could be a brief summary of your findings in general)
Yes No
Section 4: Data Storage and Security
Confirm that all personal data will be stored and processed in
compliance with the Data Protection Act (1998)
Yes No
Who will have access to the data and personal information?
Researcher access and analyse personal data from respondents because they are responsible
to collect data.
During the research:
investigator
Where will the data be stored?
Data will be stored in computerised form.
Will mobile devices such as USB storage and laptops be used
Yes No
If Yes, please provide further details:
After the research:
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Where will the data be stored?
How long will the data and records be kept for and in what format?
Will data be kept for use by other researchers? Yes No
Section 5 : Ethical Issues
Are there any particular features of your proposed work, which may
raise ethical concerns? If so, please outline how you will deal with
these:
It is important that you demonstrate your awareness of potential risks
that may arise because of your research. Please consider/address all
issues that may apply. Ethical concerns may include, but are not limited
to the following :
 Informed consent.
 Potentially vulnerable participants.
 Sensitive topics
 Risk to participants and /or researchers
 Confidentiality/anonymity
 Disclosures/ limits to confidentiality
 Data storage and security, both during and after the research
(including transfer, sharing, encryption, protection).
 Reporting
 Dissemination and use of your findings.
Section 6: Declaration
I have read, understood and will abide by the institution’s
Research and Ethics Policy: Yes No
I have discussed the ethical issues relating to my research with
my Unit Tutor:
Yes No
I confirm that to the best of my knowledge:
The above information is correct, and this is a full description of
the ethical issues that may arise in the course of my research
Name: Date:
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Please submit your completed form to your supervisor and also
attach to the Research Proposal when submitting to Turnitin.
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