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Reward Management Assignment | HRM Assignment

This assignment requires the learner to describe the internal and external factors to consider when planning the human resource requirements of an organisation, identify the skills that employees require to carry out jobs in an organisation, outline how organisations motivate its employees, explain how organisations obtain the cooperation of their employees, explain how employee performance is measured and managed, explain why human resource planning is important to an organisation, compare the use of motivation theories in an organisation, explain how the results from measuring and managing performance inform employee development, and suggest ways of improving motivation in an organisational setting.

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Added on  2020-06-04

Reward Management Assignment | HRM Assignment

This assignment requires the learner to describe the internal and external factors to consider when planning the human resource requirements of an organisation, identify the skills that employees require to carry out jobs in an organisation, outline how organisations motivate its employees, explain how organisations obtain the cooperation of their employees, explain how employee performance is measured and managed, explain why human resource planning is important to an organisation, compare the use of motivation theories in an organisation, explain how the results from measuring and managing performance inform employee development, and suggest ways of improving motivation in an organisational setting.

   Added on 2020-06-04

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Employee Motivation:Motivation is an urge to perform better with in corporation. It is a process of encouraging, appreciating and inspiring individual for their effective performance at workplace. It assists in developing a well-defined impact on business growth and development.Employee Motivation:Motivation is an urge to perform better with in corporation. It is a process of encouraging, appreciating and inspiring individual for their effective performance at workplace. It assists in developing a well-defined impact on business growth and development.Maslow's theory- As per this theory, individual required five kinds of needs that are physiological, safety, love belongings, self-esteem and self-actualization. Maslow's stated that people are motivated only when these mentioned needs is satisfied. In order to satisfy these desires, enterprise provides special arrangements in corporation. Physiological needs can be satisfied by natural resources such as air, water, food, sleep and shelter (Peng and Zhao, 2012). For this cited venture provides effective working environments where proper arrangement of these aspects is there. If employee’s basic needs are not met, they will get demotivated and leads to decline in their productivityMaslow's theory- As per this theory, individual required five kinds of needs that are physiological, safety, love belongings, self-esteem and self-actualization. Maslow's stated that people are motivated only when these mentioned needs is satisfied. In order to satisfy these desires, enterprise provides special arrangements in corporation. Physiological needs can be satisfied by natural resources such as air, water, food, sleep and shelter (Peng and Zhao, 2012). For this cited venture provides effective working environments where proper arrangement of these aspects is there. If employee’s basic needs are not met, they will get demotivated and leads to decline in their productivityHerzberg theory- As per this concept, employees can be motivated by two components that is hygiene and motivator factor. According to hygiene factor, employees can be motivated by effective salary, fringe benefits, job security, perquisites etc (Liu and et.al 2016). Cited venture has successfully attempted to this factor of motivation because there has special arrangement of reward system for those personnel s who perform effectively in the company. On the other hand, As per motivator factor, human resource can be satisfied and motivated by appropriation, recognition, challenging task and growth opportunity Herzberg theory- As per this concept, employees can be motivated by two components that is hygiene and motivator factor. According to hygiene factor, employees can be motivated by effective salary, fringe benefits, job security, perquisites etc (Liu and et.al 2016). Cited venture has successfully attempted to this factor of motivation because there has special arrangement of reward system for those personnel s who perform effectively in the company. On the other hand, As per motivator factor, human resource can be satisfied and motivated by appropriation, recognition, challenging task and growth opportunity Significance of Reward system: In Particular, human resources management is one of the most important parts of management strategies because it plays a significant role in organizations in improving organization performance. In the business area, there are many ways in which employers and managers have sought methods to influence and motivate their employees and it is true to say that in terms of all the techniques and methods available, the remuneration and proper reward payment system, have been widely used in contemporary society.Significance of Reward system: In Particular, human resources management is one of the most important parts of management strategies because it plays a significant role in organizations in improving organization performance. In the business area, there are many ways in which employers and managers have sought methods to influence and motivate their employees and it is true to say that in terms of all the techniques and methods available, the remuneration and proper reward payment system, have been widely used in contemporary society.The aims of rewards are to motivate and retain people. While basic annual salaries play a role in attracting people to companies, rewards in the form of financial and non-financial payment keep them there. The aims of reward management can be divided into two distinctive parts; one is "participation of organization" and another is "performance in organization"The aims of rewards are to motivate and retain people. While basic annual salaries play a role in attracting people to companies, rewards in the form of financial and non-financial payment keep them there. The aims of reward management can be divided into two distinctive parts; one is "participation of organization" and another is "performance in organization"Rewards provide a special payment for a special activities or results. This is distinct from the general meaning of payment such as wage or salary which fixed payment based on a regular basis. On the other hand, the term of 'reward' is used to identify the additional payment related to performance or job skill. Rewards provide a special payment for a special activities or results. This is distinct from the general meaning of payment such as wage or salary which fixed payment based on a regular basis. On the other hand, the term of 'reward' is used to identify the additional payment related to performance or job skill. EMPLOYEES MOTIVATIONExternal Reward FactorsNational cultureMinimum wagesInflation ratesEducation and skillSocial and political trendsTaxesExternal Reward FactorsNational cultureMinimum wagesInflation ratesEducation and skillSocial and political trendsTaxesInternal Reward FactorsTeam factorsOrganisational valuesTask essentialsTime frameToolsWork standardsDecision making Internal Reward FactorsTeam factorsOrganisational valuesTask essentialsTime frameToolsWork standardsDecision making
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