Preview

Answer to the Question - Do You Think It Is a Good Idea on the Part of Any Management to Award Employees with Merit Issues Why or Why Not Discuss and Debate. What Factors Should Management Consider in Your Opinion

Powerful Essays
Open Document
Open Document
5728 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Answer to the Question - Do You Think It Is a Good Idea on the Part of Any Management to Award Employees with Merit Issues Why or Why Not Discuss and Debate. What Factors Should Management Consider in Your Opinion
Managing Human Capital Assignment
Teacher: Rejendra Kumar
Student: Anderson Olascoaga Zavaleta
ID student: 0704IBIB0409
Date: 17/09/2010
-------------------------------------------------

Question a. Do you think it is a good idea on the part of any management to award employees with merit issues? Why or why not? Discuss and debate. What factors should management consider in your opinion? Substantiate with many relevant organizational examples (Discussion on how to motivate employees at the workplace should be seen as it has become a challenge for employers today. Some Employers do give ESOP, Profit sharing, Scanlon plan, Annual Bonus, Gain sharing and Merit plans. Give relevant examples).
-------------------------------------------------

Introduction.

Awarding good performance of the employees is a method that almost all the companies around the word do in the sense of improve the performance of the company’s.
An important issue for the companies is developing and implementing strategies, policies and systems to increase the opportunity to achieve its objectives by increasing the commitment and motivation of the employees.

The most important aim to recognize and reward employees is that it carries out good understanding and judgment.
It helps organizations to do the following: * Increase their revenues and profits * Keep their best employees and enlist top new talent * Stimulate peak performance from all their employees
(Deeprose, 2007)

Recognition Awards
Recognition give employees something that they appreciate at modes cost. Currently nine out of ten organizations give recognition awards, and half are planning adding new awards before long. The most frequently reasons to give these are producing a good work environment.

Percentage (%) of Organizations Offering Recognition Awards

VARIABLE PAY (INCENTIVE PLANS): INCENTIVES FOR PERFORMANCE

Also know as incentives, it is compensation connected to



Bibliography: 2. Robert L. Mathis John H. Jackson (1999), Human Resource Management, 9th Edition, Thomson South-Western, p 458- p227 3 4. Michael Armstrong, (2002), Employee reward, 3rd Edition, CIPD House, London, p326-p340 5 6. Michael Armstrong, (2010), A handbook of human resource management practice, Library of Congress Cataloging-in-Publicantion Data, United Kingdom, p366-p368 7 8. Stefanie Hoffmann, (2006), Classical Motivation Theories - Similarities and Differences Between Them, GRIN Verlag, Germany, p11 Web pages 1. TIME magazine (1955) MANAGEMENT: The Scanlon Plan.[Online] Available from: http://www.time.com/time/magazine/article/0,9171,807657-1,00.html [Accessed 18 October 2010] 2. SAGE journals online (1998)Case Study Gainsharing Plan Spurs Record Productivity and Payouts at Ameri Steel. [Online] Available from: http://cbr.sagepub.com/content/30/6/46.abstract [Accessed 18 October 2010]

You May Also Find These Documents Helpful

  • Powerful Essays

    References: Armstrong, M. (2009). A handbook of human resource management practice. London, UK. Kogan Page.…

    • 14821 Words
    • 60 Pages
    Powerful Essays
  • Powerful Essays

    Michael Armstrong (2009). Armstrong 's Handbook of Human Resource Management Practice. London: Kogan Page. Pages 957-984.…

    • 4281 Words
    • 18 Pages
    Powerful Essays
  • Satisfactory Essays

    Cash Good, Credit Bad

    • 271 Words
    • 2 Pages

    References: Mathis, R. L., & Jackson, J. H. (2010). Human resource management. (13 ed.). Mason: South-Western Pub.…

    • 271 Words
    • 2 Pages
    Satisfactory Essays
  • Best Essays

    Corporate Strategy of Tesco

    • 4104 Words
    • 17 Pages

    References: Armstrong, M (2005) (9th Edition) A Handbook of Human Resource Management Practice Kogan Page, London…

    • 4104 Words
    • 17 Pages
    Best Essays
  • Satisfactory Essays

    In any type of business reward systems offer employees the incentive to more effectively and efficiently perform. Whether the rewards are financial, material, recognition based, or just beneficial they are important in helping to motivate employees in performing better and going above and beyond the minimum requirements. There are nine major factors that motivate employees to perform better. These nine factors are: “Respect for employee as a person; good pay; opportunity to turn out quality work; the chance of being promotion; opportunity for self-development and improvement; feeling my job is important; being told by my boss when I do a good job; opportunity to do interesting work; and large amount of freedom on the job. When creating a reward system these factors should be considered. We will focus on implementing these factors in creating a rewards system for human service organizations.…

    • 253 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Business

    • 2037 Words
    • 9 Pages

    Staffs want to be acknowledged for a job well done. Rewards and recognition react to this need by authenticating performance and motivating staff toward continuous development. Rewarding and recognizing individuals for performance not only affects the individual being recognized, but others in the business as well.…

    • 2037 Words
    • 9 Pages
    Powerful Essays
  • Better Essays

    Employee Recognition

    • 2202 Words
    • 9 Pages

    Employee recognition is an incidence or program by which an employer appreciates and acknowledges the efforts and contributions of an employee publicly. This program is widely used by huge corporations, small businesses or managers as it is related to a number of individual and organizational outcomes. This concept of rewarding an employee’s behavior is one of the fastest growing in the world, especially in North America. Employee recognition also provides an opportunity to demonstrate the culture in a way that has an impact on employees. Some of the benefits of implementing this idea are job satisfaction for employees, higher performance and productivity, lower turnover, higher motivation and improves morale.…

    • 2202 Words
    • 9 Pages
    Better Essays
  • Best Essays

    Rbs Reward Strategy

    • 2770 Words
    • 12 Pages

    References: 2. Armstrong, M., 2010, A Handbook of Human Resource Management practice, 10h ed., Reading, London, Philadelphia, UK.…

    • 2770 Words
    • 12 Pages
    Best Essays
  • Powerful Essays

    International Hrm

    • 5865 Words
    • 24 Pages

    References: Armstrong, M. (2001 ) A Handbook of Human Resource Management, Eighth edition, London: Kogan Paul.…

    • 5865 Words
    • 24 Pages
    Powerful Essays
  • Good Essays

    Reward Management System

    • 5470 Words
    • 22 Pages

    Employers and mangers should pay attention to their employees and special attention to the best employees. This is done to encourage good performers, to push them to greater heights. Positive recognition for people can ensure a positive and a productive organization. The recognition of outstanding performance aims to create an understanding of what behavior might add significant value to the organization and to promote such behavior. Awards- monetary and non-monetary – should be given based on the achievements and accomplishments of workers. (The Business Research Lab, 2006)…

    • 5470 Words
    • 22 Pages
    Good Essays
  • Satisfactory Essays

    In today’s competitive world, rewards and recognition plays an important role in motivating and retaining employees. Rewards and recognition is an important part in every HR plan these days. Rewarding the high performing and motivating others to become such is becoming mandatory in IT & BPO industry.…

    • 572 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Masafi

    • 1382 Words
    • 5 Pages

    Armstrong, Michael (2001). A handbook of Human Resource Management practice. Chapter 33, P 513-599). Kagan Page pub.…

    • 1382 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Every human being wants his/her efforts to get acknowledgment. Employees gain more and more confidence in them and in their abilities if they receive just rewards. As a result, their performance level shoots up.…

    • 1236 Words
    • 5 Pages
    Good Essays
  • Good Essays

    narrative report

    • 2289 Words
    • 10 Pages

    One of the best incentives for employees to give their maximum effort and loyalty to the firm is the recognition of and reward for good performance. There are of course a number of ways by which good performance may be rewarded. Among these are salary increases, special commendations, and promotions to higher positions. The promotion of deserving employees to higher positions as a reward for proven skill and ability is obviously an effective way to keep good men in the firm.…

    • 2289 Words
    • 10 Pages
    Good Essays
  • Powerful Essays

    For any organization to be successful, each and every employee of that organization needs to be successful with his or her individual goals. When employees know their work and effort is being appreciated they channelize their personal aspirations towards organization’s goal. A person who is satisfied with his job and has a good self-esteem will surely work more efficiently. Also, not all employees respond in the same manner to the same type off recognition. For some employees find satisfaction and respect in monetary aspects of the job and for the others non-monetary parameters work. So these need to be analyzed in the organization so that reward and recognition system is established…

    • 1641 Words
    • 7 Pages
    Powerful Essays