Nobody downloaded yet

Compare reward approach between Asia and Western economy - Essay Example

Comments (0) Cite this document
Summary
The retention of workers in an organization is paramount in this era of economic uncertainty. There are many reward approaches utilized that are based on a number of theories. Most of the reward approaches…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.9% of users find it useful
Compare reward approach between Asia and Western economy
Read TextPreview

Extract of sample "Compare reward approach between Asia and Western economy"

Download file to see previous pages The western economy has shown progress mainly because of the motivated workforce. They have adopted the total reward management strategy. This compares to Asia that also has seen economic rise though not successful as the western economy. The Asian countries have also shifted from the traditional reward system to the total reward system. Western countries adopt the change quickly because they have less cultural cohesion unlike the Asian with the cultural cohesion. The success of the western economy can be linked in the utilization of total reward system to make decisions, improve staff performance and help solve potential reward problems.
With the uncertainty of the world economy, having the right talent at the right cost in companies across the world has been a great challenge in human resource. Total reward programs aim at attracting and retaining a talented workforce in any company. As technological advances are, and the swaying global economy poses a significant threat to companies`, it has been shown that total reward strategy is used to achieve excellence. This paper compares the reward approach between Asia and the western world (Chiang and Birtch 2007, p.61). Through use of literatures, rewards systems in the international context have been explored. The main objectives of the paper include:
3. To assess the significance of total reward system under the culturally, globalization influence and through theoretical views of total reward management know the use, models and design in the global economy.
According to Milkovich and Newman, (2006, p.8) reward is all the tangible and non-tangible benefits and provisions presented to an employee as part of improving employment relationship. Work rewards refer to benefits employees receive from their workplace that are considered as the determinants of job satisfaction and commitment (Malhotra et ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Compare reward approach between Asia and Western economy Essay”, n.d.)
Compare reward approach between Asia and Western economy Essay. Retrieved from https://studentshare.org/human-resources/1669013-compare-reward-approach-between-asia-and-western-economy
(Compare Reward Approach Between Asia and Western Economy Essay)
Compare Reward Approach Between Asia and Western Economy Essay. https://studentshare.org/human-resources/1669013-compare-reward-approach-between-asia-and-western-economy.
“Compare Reward Approach Between Asia and Western Economy Essay”, n.d. https://studentshare.org/human-resources/1669013-compare-reward-approach-between-asia-and-western-economy.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Compare reward approach between Asia and Western economy

Western expansion In Africa and Asia

...whereas its rival Britain seized nearby lands to stop further expansion. Social Darwinism was another factor that led to new imperialism that was then growing among the westerners who practiced and supported the idea of social imperialism. Mainly, this entailed quest to destroy the weaker race because they deemed it was the nature’s way of improving human species. Trade In Indian Ocean Afro-Eurasian trade’s centralization in the Indian Ocean paved way for commercial and cultural exchange in Africa, Asia and Europe. It did increase trade between 7Th and 14Th centuries though it faced a sharp decline during the Black Death. Traders came together in multicultural forms around cities and...
6 Pages(1500 words)Essay

Green supply chain: Compare between China and Western

...?Contents Chapter Introduction 2 0.Introduction 2 1. Background of the Study 3 2. Aims of the Research 6 As the research aims to provide a comparative analysis between Chinese companies adoption of GSCM with foreign companies GSCM, the research questions of this study are: 6 1.4. Significance of the Study 7 1.5. Assumptions of the Research 7 1.5. Dissertation Structure 8 Summary 9 Chapter 2 Literature Review 10 2.1. Introduction 10 2.2. Green Supply Chain Management 11 2.2.1. Green Supply Chain Management (GSCM): Definition and Development 11 2.3. GSCM: From the Western Perspective 14 2.3.1. Underlying Theories of GSCM 18 2.4. GSCM in China 27 2.4.1. The Issues and Pressures 28 2.4.2. The...
54 Pages(13500 words)Dissertation

Asia In The World Economy

.... This resulted in doubling of the yen’s value vis-a-vis the dollar in two years from 240 to 120 a dollar. (Source: Business Insider) The higher yen encouraged the Japanese industries to shift their production overseas particularly in Southeast Asia to benefit from the availability of cheap labor there. This is particularly true in case of Japanese automakers, which increased the production in US despite trade protectionism in the country to take advantage of the strong yen. During the early 1990s, the number of assembled vehicles in US by Japanese automakers exceeded their US-bound exports. To cushion the impact of the stronger yen on Japanese economy, the policy makers kept the Japanese monetary policy...
5 Pages(1250 words)Research Paper

Asia In The World Economy

...industrialization led to urbanization, which was intensified due to subsequent migration from rural to urban centers. In this way, the poor got the opportunity to get settled in industrial cities / trade hubs, thereby benefiting from economic growth of nation (Ians, 2003). As far as the case of India is concerned, it should be emphasized that it is also a mixed economy; however, the government regulatory control (except on core matters) on economic forces is relatively low unlike China (Kanpur, 2007). Therefore, the issue of inequality and poverty is much serious in India as the difference between the rich and poor has been increasing at a drastically high rate. For instance, Indian industrialists such...
3 Pages(750 words)Research Paper

Western Australia economy

...is to evaluate the probable effect of the commodity market boom in the Western Australian economy’s sector of the iron ore. The iron ore production in the Western Australian economy explicates 97% of total production in Australia. Most of the iron ore produced in Australia is predominantly exported to Asian market. Following the speedy growth during the last ten years in mainland China, Australian iron ore’s export market has significantly developed in China. This information is evident from the export amount in the year 2010 that amounted to 70 percent of the total iron ore in Australia. The following diagram represents the export figures of iron ore from Australia to...
8 Pages(2000 words)Essay

Differences Between Buddhist and Western Approach of One's Problem Sources

...Differences between Buddhist and western approach of one’s problem sources According to Dalai Lama, the modern western society approach has cultural conditioning, based on sciences. However, parameters and premises set by science limits one’s ability to deal with reality. For example, western approach assumes that all phenomenons have an explanation behind them. In cases where one encounters a phenomenon hard to explain, tension gets created which causes a feeling of agony. Western psychology over emphasises the role of unconsciousness when looking for the source of one’s problems. This is...
6 Pages(1500 words)Essay

Western Images of Asia

...fundamentalism in the west and raising sense of threat from the extreme version of the faith. The attacks also displayed the differences between cultures and religions, as states, "Americans have tended to believe that their institutions and values-democracy, individual rights, the rule of law and prosperity based on economic freedom-represent universal aspirations that will ultimately be shared by people all over the world, if given the opportunity”.( Fukuyama, 2001) Muslims see their religion as a way of differentiating themselves from the rest of the world "Today, the so-called Western civilisation is at the pinnacle of its power; Western military strength is awesome,...
4 Pages(1000 words)Essay

The Western Expansion into South East Asia

...Introduction The process of the Western Expansion into South East Asia occurred in various phases. These phases were characterized by certain unique features that differentiated them from one another. Historical records have shown that the expansion was facilitated by the major Western Imperialists such as: The United States of America, Netherlands, Britain, France et cetera. In addition, records have shown that there were certain economic and social factors that facilitated the occurrence of the differences between the first and the second phase of the expansion into the South East Asia (Schoppa, pg.23, 2008). This discussion will focus on the...
3 Pages(750 words)Essay

Total reward approach to compensation and timeline

...Total Reward Approach to Compensation al Affiliation Rewards program Introduction International human resources management has developed into a controversial issue around the world. The complex management of various personnel within any organization is becoming a great challenge. This has been fuelled by the increasing need for personnel as competing companies and organizations try to beat each other in the business. To acquire and retain the best person in an organization requires more than management. It calls for active engagement of the employees in changes that take place in the organization especially if these changes affect them and their working conditions. Further, compensating the employees’ efforts remains a basic... at this...
15 Pages(3750 words)Research Paper

Reward

...not have base on collective responsibility, as if there is a unfair pay, one should cope with such an issue by oneself (Thornberry, 2015). In addition, the government thinks over overhauling the tribunals in order to provide them with wider powers. In case of any issues reveal, the compensation should be awarded to those who acted legally. For the better establishment of policies of equal pay, there is a need to require employers to carry out an equal pay audit. By means of negotiation, it is possible to drive change through workforce. Under the equal pay provision of the Equality Act 2010 all people in the same employment should receive equal pay. That means that one should compare between staff doing...
7 Pages(1750 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 Essay on topic Compare reward approach between Asia and Western economy for FREE!

Contact Us