Significance of Monetary and Non-Monetary Reward System in Hospitality Sector

Research Project (Unit
18)

Table of Contents
Research Title: Significance of monetary and non- monetary reward system with regards to
talent management within hospitality sector: A study on Hilton.....................................................1
Abstract............................................................................................................................................1
CHAPTER ONE- INTRODUCTION..............................................................................................1
1.0 INTRODUCTION............................................................................................................1
1.1 RESEARCH BACKGROUND........................................................................................1
1.2 STATEMENT OF RESEARCH PROBLEM..................................................................2
1.3 RESEARCH AIM............................................................................................................2
1.4 RESEARCH OBJECTIVES.............................................................................................2
1.5 RESEARCH QUESTIONS..............................................................................................2
1.6 RESEARCH RATIONALE.............................................................................................2
CHAPTER TWO – LITERATURE REVIEW................................................................................3
2.0 INTRODUCTION............................................................................................................3
2.1 To determine different practices involve within reward system......................................3
2.2 To examine the importance of using monetary and non- monetary reward system for talent
management............................................................................................................................4
2.3 To ascertain the challenges face by hospitality sector while developing different reward
system.....................................................................................................................................4
2,4 To recommend the ways through which the problem face by industry may overcome...5
CHAPTER THREE – RESEARCH METHODOLOGY................................................................5
3.0 INTRODUCTION............................................................................................................5
3.1 RESEARCH PARADIGM...............................................................................................5
3.2 RESEARCH PHILOSOPHY...........................................................................................6
3.3 RESEARCH APPROACH...............................................................................................6
3.4 RESEARCH DESIGN......................................................................................................6
3.5 DATA COLLECTION.....................................................................................................6
SAMPLING METHOD.....................................................................................................7
PRIMARY DATA COLLECTION...................................................................................7

SECONDARY DATA COLLECTION.............................................................................8
3.6 ANALYSIS OF DATA....................................................................................................8
3.7 ETHICAL CONSIDERATIONS.....................................................................................8
CHAPTER FOUR - DATA PRESENTATION, ANALYSIS, FINDINGS AND DISCUSSIONS
..........................................................................................................................................................8
4.0 INTRODUCTION............................................................................................................8
4.1 QUALITATIVE DATA PRESENTATION AND DISCUSSION OF FINDINGS........8
CHAPTER FIVE...........................................................................................................................11
5.0 INTRODUCTION..........................................................................................................11
5.1 CONCLUSION..............................................................................................................11
5.2 RECOMMENDATIONS...............................................................................................12
5.3 REFLECTION ON RESEARCH METHOD.................................................................12
REFERENCES..............................................................................................................................13
Appendix........................................................................................................................................14
Questionnaire........................................................................................................................14

Research Title: Significance of monetary and non- monetary reward system
with regards to talent management within hospitality sector: A study on
Hilton
Abstract
The main purpose of current investigation is to assess the significance of monetary and non-
monetary reward system with regards to talent management within the hospitality sector for
which the study is conducted on the Hilton Hotel. The main research problem that has been
evaluated under current project is based on challenges which are faced and encountered by
hospitality sector while developing different reward system. The resrch method that is applied in
current investigation is based on qualitative method of research which consists of use of
interview as research tool to collect theoretical and in-depth study. The preliminary results and
significance of current investigation comprises of better understanding about the monetary and
non- monetary reward system with regards to talent management within hospitality sector to
effectively motivate and guide employees for improved performance.
CHAPTER ONE- INTRODUCTION
1.0 INTRODUCTION
Talent management has become a vital for all hospitality organisation as it is directly
associated with the management of skills and overall capabilities of employees that plays a vital
role in leading enhanced performance and effective competitive strength (De Gieter and
Hofmans, 2015). Use of many strategies and ways are made by an orgnisation to lead and ensure
effective talent management. The current investigation is based on significance and importance
of monetary and non- monetary reward system with regards to talent management within
hospitality sector to value its impact on motivation and performance level of employees.
1.1 RESEARCH BACKGROUND
Reward strategy and system is vital for an organisation as it lead to enhanced motivation
and develop inspiration in employees to achieve desired set of goals and objective in a more
efficient and effective way (Flammer and Luo, 2017). Hilton Hotel is a well known multinational
American Hospitality company the main headquarter of which is situated at McLean, Virginia,
U.S. Many strategies and steps are taken by Hilton Hotel to lead effective talent management and
1