Nobody downloaded yet

New and Improved Rewards at Work - Research Paper Example

Comments (0) Cite this document
Summary
Business leaders are involved in activities that offer them competitive advantages and increased market share in the present dynamic business environment. It is evident that businesses are usually keen about what their competitors are doing with an aim of doing better than them…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER99% of users find it useful
New and Improved Rewards at Work
Read TextPreview

Extract of sample "New and Improved Rewards at Work"

Download file to see previous pages The most important goal for an employment compensation strategy is to offer better rewards for right employee actions for success of the company. In order to make competitive compensation packages for employees, companies need to consider what their rivals are offering so that they do not end up running into losses by offering more than the equilibrium package in the industry or offering less than the minimum, because this will make it impossible for them to recruit and retain staff.
Best packages are sometimes those that are preferred by employees while at the same time appear to be competitive in the particular industry. One advantage with compensation schemes is that they are able to underpin organizational culture, something that is highly desired by companies. The government governs every aspect of employee compensation within the public sector. In many instances, this leaves no room for innovative ideas towards formulation of important compensations schemes. Companies that are highly innovative in engaging their employees record high returns that are sometimes double those of rival companies which do not engage their employees adequately (Pollitt, 2081)
The first way to creatively engage your skilful employees is by putting them in a position where they can have direct contact with consumers of their products. In many industries, employees design products and dispatch them for sale, yet they have no idea about the impact of the products on the lives of their end users (Grant, 2007; Grant, 2008). A good example is the automotive industry where automotive engineers design cars of all kinds worldwide but they never gets the chance to have direct feedback from drivers of the cars, authors as well compose many pieces of literature to millions of faceless readers but never meets them for feedback.
Meeting end users as a product developer has been known to enhance prosocial motivation as well ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“New and Improved Rewards at Work Research Paper - 2”, n.d.)
New and Improved Rewards at Work Research Paper - 2. Retrieved from https://studentshare.org/human-resources/1633663-new-and-improved-rewards-at-work
(New and Improved Rewards at Work Research Paper - 2)
New and Improved Rewards at Work Research Paper - 2. https://studentshare.org/human-resources/1633663-new-and-improved-rewards-at-work.
“New and Improved Rewards at Work Research Paper - 2”, n.d. https://studentshare.org/human-resources/1633663-new-and-improved-rewards-at-work.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF New and Improved Rewards at Work

Rewards Strategy

...and Development + Working Environment = Total Rewards Objectives • Improved organizational performance – helping organizations balance their investment with employee expectations and needs, to source and retain high quality staff, winning their commitment by optimizing motivation and morale, and thereby securing better value for money and greater productivity (Armstrong, 2010). • A better deal for employees – responding to employee inclination and principles to construct an environment that brings out the best in the workforce – a financial and non-financial reward package that will make existing employees want to stay with the organization, and attract prospective...
10 Pages(2500 words)Assignment

The New Improved Iphone by Apple Co

...outside the office. For lovers of the iPhone, the iPhone 4 will be a preferred brand accompanied with an improvement on the camera and the advancement on the processor. Product Positioning The new product is the choice of the executive individual and corporate world, favorable for those that are fixed next to the bulk of their offices. It is an opportunity to work as in the office while on a plane, monitor the stocks at the dinner table or have a business conference while enjoying the comfort of your cabin in the woods. The iPhone 4 is the fourth generation iPhone, having an extra video calling capability to its predecessor while having an extra sensitive touch-screen capability for...
3 Pages(750 words)Research Paper

A New Work Ethic

...? A New Work Ethic College A New Work Ethic Describe how typical the attitudes that Sheehy reports appear to be in work environments you have experienced. I happened to have been given the opportunity to work for an American-owned fast-food noodle restaurant that serves Chinese dishes. It was a summer job which took two months to complete and I could attest that being part of the regular crew entailed having to cover menial tasks ordered by co-workers who seemed to exercise seniority over the rest especially the new hires and trainees like me as we mostly thought about acquiring experience despite unpleasant attitudes of...
4 Pages(1000 words)Case Study

New and Improved Rewards at Work

...? New and Improved Rewards at Work First second Introduction Generally, all organizations must embrace change in the technological arena to reach its peak. Consequently, the above will make the organization’s activities be updated according to changes required. In addition, technological innovation, will enable specialization thus, employees in one way or another give out their best in terms of work delivery to uplift the organization’s status. Creativity and Innovation To start with, creativity is a major weapon that can be used by workers to bring about change in any organization. Therefore, the relationship between the workers and the stakeholders will...
8 Pages(2000 words)Assignment

Assignment 5: New and Improved Rewards at Work

...Suggestion Program to Continually Refresh the Total Rewards of the Organization One of the most effective and impressive model that can be used to optimise an employee-based total rewards systems is the exchange relationship. In this model, both the employee and the employer provide. On one hand, the employer provides total rewards which are valuable to the employees. On the other hand, an employee provides his time, effort, talent and desired results to the organisation. This model is both symbiotic and employee-centred. Works Cited Corrigan, Karen & Ryan, Robert. “New Reimbursement Models Reward Clinical Excellence.” Healthcare...
8 Pages(2000 words)Research Proposal

IMPLEMENTATION OF NEW OR IMPROVED PRODUCT IN SERVICES INDUSTRY

...cover such things as size, scope of activities, economics strengths, the relationships with customers, and the internal culture, including the values of the organization.” Envisioning the employees about implementation has two aspects. First envisioning means that how this implementation of new or improved product can make positive contribution to their respective jobs. How they are going to take the leverage from this implementation i.e. what they can learn from this implementation? How this implementation can enhance their skills at work place? How this implementation can give them monetary increments in their earnings by creating financial value for the organization they are...
10 Pages(2500 words)Essay

Implementation of new or improved products in Financial Services Industry

...for the organization. The vision may cover such things as size, scope of activities, economics strengths, the relationships with customers, and the internal culture, including the values of the organization.” Envisioning the employees about implementation has two aspects. First envisioning means that how this implementation of new or improved product can make positive contribution to their respective jobs. How they are going to take the leverage from this implementation i.e. what they can learn from this implementation? How this implementation can enhance their skills at work place? How this implementation can give them monetary increments in their earnings by creating financial value...
30 Pages(7500 words)Essay

The Leader's New Work

...Leader’s New Work Module Module ID: The present paper aims to analyze the challenges faced by the leadership and management during contemporary era and future years to come in the light of the theories presented by Peter Senge and Chris Argyris by paying concentration upon the business environment and learning scenario observed by the managers and employees in a state of perfect competition at a global scale. The main objective behind examining the theories articulated by the experienced business analysts includes seeking of support and guidelines in respect of comprehending with the current market position in order to devise policies and revise them in according with the developments being made all...
3 Pages(750 words)Assignment

Assignment 5: New and Improved Rewards at Work

...of the workplace. Since these elements of the environment are observable, they can be manipulated, so that there is a balance between internal and external environment. For instance, while one of the innovative incentives is being allowed to carry pets to the workplace, there may be a serious need to control this provision so as to ensure that the external environment (hygiene and general orderliness) is not interfered with (Rutzick, 36). Works Cited Corrigan, Karen & Ryan, Robert. “New Reimbursement Models Reward Clinical Excellence.” Healthcare Financial Management, 58.11 (2004), 98. Print   Greenblatt, Alan. “Merit Pay Moves Forward.” Human Resource Planning, 20.4 (2007),...
8 Pages(2000 words)Research Proposal

New Venture Proposition - Individual work

...Proposal of New Venture: Renaissance Dinner Theatre of Renaissance Dinner Theatre Introduction A new venture in the restaurant industry is the opening of new theatre restaurant for fine dining with the combination of the dance hall and lively music. The idea of new theatre restaurant will attract the concentration of the customers because it is a unique and innovative idea. It will be a completely new and different approach in the restaurant industry. The restaurant will follow the theme, 90’s era of European and American history will be used to add the innovation in the restaurant industry. It will bring the new revolution in the...
9 Pages(2250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic New and Improved Rewards at Work for FREE!

Contact Us