Effectiveness of Monetary Rewards in Enhancing Employee Motivation

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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