logo

Effectiveness of Wilson Bros' Reward Plan in Achieving Intended Outcomes

   

Added on  2023-06-10

6 Pages1523 Words494 Views
Running head: HUMAN RESOURCE MANAGEMENT
Human Resource Management
Name of the University:
Name of the Student:
Author Note:

1HUMAN RESOURCE MANAGEMENT
Answer 1
Wilson Bros is a Canadian company, which was started by the two brothers Bob and
John. The company has managed to gain worldwide popularity and a unique selling
proposition due to its significant strategic planning (De Waal et al., 2016). The company has
set effective strategic goals to give them a competitive advantage. A well- planned reward
system is one such strategy of Wilson Bros, which has helped them to achieve their particular
goals and objectives. The company has managed to retain their employees by allowing them
to grow as an individual person both in their career and in the society.
The employees get a total pay package, which provides them with the benefit of
tailoring as per the needs of the stakeholders. Moreover, the brothers value hard work and
satisfy the employees who work more than 20 hours per week by offering additional benefits,
advantages and assistance. As per the reward plan, the employees get the scope of receiving
additional bonus along with relevant stock purchase options with discount (Hwang & Mattila,
2017, p. 145-147). The employees of Wilson Bros were communicated to have efficient
control on various elements of the business. They were able to ensure timely deliveries to the
customers through this special strategy.
Answer 2
The employees of Wilson Bros get benefits in the form of bonus, individual
incentives, profit sharing and group incentives. There are categories of providing rewards
such as bonus is paid to the executives and management as it works like investments to
increase the productivity and encourage them for better work in future. On the other hand,
they also get individual incentives as a form of motivation and enhancing motivation. Profit
sharing and group incentives are meant for employees in the lower level to bring the

2HUMAN RESOURCE MANAGEMENT
employees together for achieving common goals. With this reward, the employees get highly
motivated and feel them as a part of the company (Long & Fang, 2015, p. 980-990).
Wilson Bros has adopted this reward plan with the objective of keeping ahead in the
competitive market and keep up to their exponential growth. They wanted to get over the
threats that were faced by the company on a daily basis, due to the deterioration in the
Canadian economy. Moreover, the company has intended to avoid the trap of consumers
being conscious of price and product in the competitive market. Wilson Bros was cautious
about the effect of profitability and brand identity that was created by the rival companies.
Answer 3
According to the Herzberg’s Two Factor Theory, there are certain factors in an
organization which causes job satisfaction. The extrinsic motivators focus on several benefits
like salary packages and compensation, which helps in motivating the employees to give their
best performances. In addition to this, the intrinsic motivators are the additional motivators,
which provide the employees with a good working environment. As per Maslow’s Hierarchy
of Needs, there are several factors like physiological needs (basic needs of food and
clothing), safety needs (that is job security), social needs (co-workers), self actualization and
self esteem (Wagner III & Hollenbeck, 2014, p. 510-515). These factors act as a motivator
for the employees to perform their best at the organizations.
The effectiveness of the Wilson Brothers’ reward plans in achieving the intended
outcomes is being discussed by taking two motivational theories into consideration namely,
Herzberg’s Two-Factor Theory and Maslow’s Hierarchy of Needs. The Herzberg’s theory
states certain factors that results into employee job satisfaction. In addition to this, it also
discusses about the factors which causes employee dissatisfaction. According to this theory,
the extrinsic and intrinsic motivators have an inverse relationship. Moreover, Maslow’s

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Human Resource Management
|10
|2691
|418

Organization’s Rewards Plan and Effectiveness using OB Theory
|5
|651
|450

Toyota's Organization Behavior Article 2022
|5
|1659
|28

Improving Organizational Performance and Employee Well-being: A Case Study of Crystal Travel
|9
|2676
|99

Employee Reward In An Organisation
|8
|2397
|327

Article | Compensation, as well as employee benefits, have become an essential area in human resources.
|3
|352
|18