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Strategic Business Operations Case of HSBC : Report

   

Added on  2020-01-21

19 Pages6009 Words28 Views
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TABLE OF CONTENTSTITLE:.............................................................................................................................................1Introduction............................................................................................................................1Significance of the study........................................................................................................3Research questions.................................................................................................................3Research aims and objectives.................................................................................................3Literature review....................................................................................................................4Research methodology and design.......................................................................................11Ethical consideration............................................................................................................12Research outcome.................................................................................................................13Timeline and Gantt chart......................................................................................................13REFERENCES..............................................................................................................................152

TITLE: To analyse the impact of non monetary benefits on the performance of employees: Caseanalysis of HSBC bankIntroductionGlobal business practices has developed a wide impact on the strategic businessoperations and organizational growth. Rising level of competition has created a definite impacton the planning and strategic analysis of the business (Christie and et.al., 2012). In the presentconceptual era significance of employees play a critical role in business growth. Companies areregularly developing different strategies for employee development and motivation in order toattaining high productivity and performance from them. Baumgartner and Ebner, (2010) stated in3

research that employees are the only resources which can be trained and developed to attain highand valuable business results. Employee motivation plays a significant role in employee growth and development.Companies create a wide and well developed measures to enhance the capability andperformance of employees by providing them with valuable services and motivational benefits.This has resulted business units in managing the efficiency of the organizations (Siddique andet.al., 2011). Strategic human resource management is one of the significant aspect for businessdevelopment in the modern era where companies are focusing on analysing employees needs andpreferences closely and linking the same with organizational objectives to attain highcompetitive growth within the market. Antikainen and Vaataja, (2010) reflected in the study therelevance of employee loyalty and retention has increased significantly in the present era as ithelps businesses in attaining high profitability while minimizing the cost of operations. Monetary and non-monetary benefits for the employees are the common and mosteffective means of motivational measures that the business units adopt in order to motivateemployees and enhance their performance. Financial incentive are the monetary rewards thatemployees attain in form of salary, wages, commission, cash incentives, bonuses, remuneration,rewards or recognition. This helps employees in attaining the basic needs and requirements(Lambrou, Kontodimopoulos and Niakas, 2010). Non monetary benefits on the other handconsists of the compensation that employees attain in services or intangible benefits (Delfgaauwand Dur, 2010). These can be categorised into promotion, recognition, effective workingcondition, appreciation, psychological benefits, fringe benefits, social security etc. Thesemeasures have developed an effective and well measures impact on organizational developmentand enhancement. Mason and Watts, (2010) analysed in the study that the significance of a trained anddeveloped employees for a business is very high for commercial growth in the economy.Companies analysed that retaining managerial employees results in enhancing organizationalvalue, culture and competitiveness for the economy. The role of monetary and non monetaryincentives plays a significant role in organizational success. However, close analysis of thesubject has helped in evaluating that monetary benefits have the ability to motivate employees tocertain level however after that employee demand for social recognition non monetary benefitsto develop their own value (Kosfeld and Neckermann, 2011). Demand for growth, development,4

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