HR Case Study of Motivation, Compensation and Rewards - Research Paper Example

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The company is involved in producing, marketing and selling concrete materials used in construction and building. The company serves many consumers ranging from the residential to commercial consumers…
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HR Case Study of Motivation, Compensation and Rewards
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Download file to see previous pages It however has a large number of employees whom it ensures that they receive a fair and equitable treatment. TRI Company however will require an appropriate compensation, reward and benefits system to enable its employees to stay motivated and to improve their performance. The appropriate performance appraisal system will also be required to measure the performance of the employees. The appropriate reward system will therefore be needed and this involves the financial rewards, non-financial compensation and the employee benefits. The reward system will be composed of processes that measure the value of job, motivational practices applicable, structures that relate the appropriate pay to the value of work done, schemes for providing incentives and rewards and structures that help to maintain the reward system (Armstrong, 2002).
With the large number of employees available in the company, TRI will require compensation models that will ensure that the employees are more productive in their contribution to the company. The models that TRI may use to compensate their employees include merit pay, base pay, which include salaries, rewarding them using hourly wages, contingent pay, which includes use of bonuses, stock options, and gain sharing plans, indirect compensation and profit sharing. Base pay, which is also referred to as basic pay will include payment of a basic salary to the employees in the organization. The application of this model to TRI Company will involve ensuring that every employee is entitled to a basic monthly salary, which they should receive at the end of every month, year or other determined interval. The basis for this basic salary will be the managerial judgments that are used to recruit these employees. It is used as a platform through which other additional payments are determined. It also forms the platform on which other entitlements such as pensions are based. Merit Pay for TRI will involve determining the amount of ...Download file to see next pagesRead More
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