How Does Remington Hotels Create An Effective Reward System
Maslow’s theory suggests that individuals seek to meet specific needs in their lives and will take measure to achieve those needs. Working is one way for it fulfils the social, safety and esteems needs in the hierarchy. The Remington Hotels can seek to create a reward system that considers the various needs of its employees such as job security through membership and promotions to meet social need such as status.
A reward system will help attract and retain highly skilled workers. Appendix 2 shows that there is a high level of disparity within the hospitality industry. This makes it hard for organizations to attract and retain employees because they will be hopping from one job to the next in order depending on the pay and reward structure …show more content…
As already mentioned, a good reward system helps attract and maintain a highly skilled workforce, lower the rate of employee turnover, and inculcate a high performance culture.
The first recommendation is that the Remington Hotels should ensure it has an elaborate reward system that award its employees’ effort and that recognizes them among other employees. According to Gagne (2014), an employee reward system encourages other workers to increase their performance once they see that effort is rewarded (p. 61). He further notes that a reward system is crucial for reducing levels of burnout among employees, which is attributed to lack of motivation for workers who place much effort in their work.
The second recommendation is the Remington Hotels should execute a performance evaluation to assist in creating a good reward structure. According to Armstrong (2001), a performance appraisal helps an organization determine performance through set goals (p. 129). For instance, an employer can create a set of objectives or target that each employee from different department is supposed to attain and reward that based on a pre-agreement. Also a performance appraisal helps identify employees that are productive and those who are not. Hence, the management can make decision on whether to retain the non-performing employee or
A reward system will help attract and retain highly skilled workers. Appendix 2 shows that there is a high level of disparity within the hospitality industry. This makes it hard for organizations to attract and retain employees because they will be hopping from one job to the next in order depending on the pay and reward structure …show more content…
As already mentioned, a good reward system helps attract and maintain a highly skilled workforce, lower the rate of employee turnover, and inculcate a high performance culture.
The first recommendation is that the Remington Hotels should ensure it has an elaborate reward system that award its employees’ effort and that recognizes them among other employees. According to Gagne (2014), an employee reward system encourages other workers to increase their performance once they see that effort is rewarded (p. 61). He further notes that a reward system is crucial for reducing levels of burnout among employees, which is attributed to lack of motivation for workers who place much effort in their work.
The second recommendation is the Remington Hotels should execute a performance evaluation to assist in creating a good reward structure. According to Armstrong (2001), a performance appraisal helps an organization determine performance through set goals (p. 129). For instance, an employer can create a set of objectives or target that each employee from different department is supposed to attain and reward that based on a pre-agreement. Also a performance appraisal helps identify employees that are productive and those who are not. Hence, the management can make decision on whether to retain the non-performing employee or