Reward Management - Cavendish Hall Hotel

Added on - 29 Apr 2020

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Running head: REWARD MANAGEMENTREWARD MANAGEMENTName of the Student:Name of the University:Author Note:
1REWARD MANAGEMENTExecutive SummaryThe main purpose of this management report is to provide a critical evaluation about thecontribution of reward principles, policies, practices and decision making to performancemanagement in organizations. A particular case study has been given where Daphne Jones isbeing appointed as personnel manager of the Cavendish Hall hotel. She will be going toprepare this management report where she will investigate on Individual Performance relatedPay (IPRP) and the reason for its failure in the hotel. The report will also analyze theadvantages and disadvantages of IPRP system and the barriers of implementing the IPRPsystem. The report will conclude with summarizing all the relevant points. The report willrecommend about an alternative forms of reward.
2REWARD MANAGEMENTTable of ContentsIntroduction................................................................................................................................3Performance Management System.............................................................................................3Individual Performance Related Pay (IPRP)..........................................................................3IPRP in Organizational Performance.....................................................................................4Theory and Research..................................................................................................................5Expectancy Theory.....................................................................................................................5Performance Management......................................................................................................5Suitability of IPRP to Hotel Business....................................................................................6Advantages of IPRP System......................................................................................................6Disadvantages of IPRP System..................................................................................................7Barriers to the Effect of IPRP System........................................................................................7Barriers to the Implementation of the IPRP System..................................................................8Recommendations......................................................................................................................9Conclusion..................................................................................................................................9References................................................................................................................................10
3REWARD MANAGEMENTIntroductionRewards are given to the employees of any organization based upon theperformances. These rewards should be aligned with the organizational goals. When anorganization achieves its goal with contribution of an employee, the reward is given forachieving the goal of an organization (Shieldset al., 2015). In the report a particular casestudy is given, in which the Cavendish Hall Hotel introduced an individual performancerelated pay scheme. The newly appointed personnel manager Daphne Jones will investigateand review the effectiveness of the scheme.The main purpose of the report is to evaluate critically the general understanding of thereward management principles, practices, policies and decision making in an organization inthe context of the Cavendish Hall Hotel case study. The manager Daphne Jones will preparethis management report. The report will investigate on Individual Performance Related Pay(IPRP) scheme and the reason for its failure in the organization. The report will also analyzethe advantages and disadvantages and the barriers of implementing the IPRP system. It willbe concluded with summarizing all the relevant points. The report will recommend about analternative forms of reward policy that can be implemented in the hotel.Performance Management SystemIndividual Performance Related Pay (IPRP)The individual performance related pay is a standard-based system by which anemployee is evaluated in an organization by his or her performance in that organization. It isrelated with increased payment to the employees or teams in organizations who areperformed better in the organizational system. An employee is evaluated based on his workand that is applicable for setting the salaries of the employees. This is the part of reward
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