Report on Remuneration Strategies for Lamesley Childcare

This report focuses on the remuneration strategies for Lamesley Childcare. It begins with an introduction, followed by an analysis of financial and non-financial incentives. Financial incentives include wages based on working hours and performance-based pay. Non-financial incentives involve workload management and creating a positive working environment. The report emphasizes the importance of effective remuneration for maximizing profit and retaining employees. The conclusion summarizes the key points, and references are provided, including books and journals related to business research and management. This analysis aims to provide recommendations for improving employee motivation and overall business performance at Lamesley Childcare.

Business Project

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Remuneration based recommendations.......................................................................................3
CONCLUSION ...............................................................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
The organisation that was select in this assignment are Lamesley childcare (Bell, 2018).
TASK
Remuneration based recommendations
Financial Incentive: It is a money based benefits that are offering by company to
motivate workforce so that they work with great efforts to achieve the targets in profitable
manner (Saunders, 2012).
 Wages & conditions : Providing wages on the basis of working hours, on piece
rate basis, for overtime, the employees of Lamesley child care get motivated if
appropriate methods to pay wages is selected.
 Payment based on performance: If on the basis of performance payment of
salary or wage is done than every employee/ worker of Lamesley childcare try to
work more and more to earn maximum.
Non financial Incentive: Motivational tools that are not directly related to money or
cash ( Collins, 2008).
 Workload management By controlling the workload the management of
Lamesley child care help the employees to work without taking any stress as it
reduces chances of mistakes and deficiencies in the service that leads to business
expansion and deduction in wastage.
 Positive working environment If the place of working is good, every one is
given opportunity to express their ideas and views. By giving chance to every
employee to express their innovative ideas Lamesley childcare motivate their
workforce that helps to retain workforce for long duration.

CONCLUSION
In every organisation effective way of remuneration should be fixed so that to earn
maximum profit by retaining workers for long term.

REFERENCES
Books and Journals
Bell, E., Bryman, A. and Harley, B., 2018. Business research methods. Oxford university press.
Collins, K. M. and Shemko, J., 2008. Exploring business. Pearson/Prentice Hall.
Saunders, M. N. and Lewis, P., 2012. Doing research in business & management: An essential
guide to planning your project. Pearson.