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The Impact of Rewards on Management of Employees Performance

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Added on  2020-02-17

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Alternative rewards practices 1 CONCLUSION 2 RECOMMENDATIONS 3 References 4 Introduction 1 Background of the study Employees are assets of the organization, it is necessary that they retain in the firm for longer duration. 2 Aim “ To analyses reward practices used in the organization andtheir implication for the management of employee; Study of Lincoln Electric company”. Individual Rewards practices used at Lincoln Electric Company In current working situation reward and recognition is plays a essential role in an organisation.

The Impact of Rewards on Management of Employees Performance

   Added on 2020-02-17

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Case Study analysis
The Impact of Rewards on Management of Employees Performance_1
Executive SummaryReward system is the best way of enhancing performance of the employees and making themloyal towards the brand. Reward system are interlinked with the management of employeesperformance. Lincoln Electric is working well and concentrating on the employee's satisfaction.Report discusses about the implication of reward practices for management of employeeperformance. 2
The Impact of Rewards on Management of Employees Performance_2
TABLE OF CONTENTSIntroduction......................................................................................................................................4Background of the study..............................................................................................................4Aim..............................................................................................................................................4Objectives....................................................................................................................................4Scope:...........................................................................................................................................4Task..................................................................................................................................................51. Rewards practices used at Lincoln Electric Company............................................................52. Alternative rewards practices...................................................................................................1CONCLUSION................................................................................................................................2RECOMMENDATIONS.................................................................................................................3References........................................................................................................................................43
The Impact of Rewards on Management of Employees Performance_3
INTRODUCTIONBackground of the studyEmployees are assets of the organization, it is necessary that they retain in the firm forlonger duration. In the globalized era people are getting high employment opportunities and theycan move to other brands easily. To enhance retention rate of workers it is essential for theentities to motivate its workers so that they stay in the corporation for longer period. Rewardssystem is the best way that can help in encouraging people and enhancing their level ofperformance. Human resource managers of the companies provides incentives, performanceappraisal, promotional opportunities etc, so that skilled person work in the organization forlonger period. Present report is based on the case study of Lincoln Electric. It will discuss thereward practices used in cited firm and alternative practices that can help in managingemployee's performance in the entity.Aim“To analyses reward practices used in the organization and their implication for the managementof employee; Study of Lincoln Electric company”.ObjectivesTo understand the conceptual framework of reward system.To identify the implications of reward practices for management of employees of LincolnElectric.To analyses the rewards practices used by the Lincoln Electric and alternative practicesthat can be used to manage employee performance.To suggest ways for improving current rewards and performance of Lincoln Electriccompany.Scope:Rewards practices are the best way of enhancing employees performance. With the helpof this study Lincoln Electric will be able to gain information about alternative strategies orpractices that can support in improving performance of its workers. That would help in makingeffective strategies so that people perform their duties well and company becomes able toaccomplish their goal significantly.4
The Impact of Rewards on Management of Employees Performance_4

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