StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Nobody downloaded yet

Reward Management in GE Organization - Case Study Example

Comments (0) Cite this document
Summary
The paper "Reward Management in GE Organization" discusses that organizations who realize the importance of it HR assets will stand out strongly against its competitors because the right focus can be placed in employee motivation and reward management…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful
Reward Management in GE Organization
Read TextPreview

Extract of sample "Reward Management in GE Organization"

Download file to see previous pages It is concluded that GE is superior in its reward management practices because it can motivate its employees to perform to its best abilities towards the achievement of GE’s corporate objectives.
GE is the parent company of 11 technology, services, and finance businesses with more than 300,000 employees spread across 160 countries. It deals with computers, jet engines, power plants, capital services, plastics, illumination equipment, and medical tools. Regardless of the business, GE is dedicated to turning imaginative ideas into profitable products and services for the benefit of all stakeholders (GE, 2006). Despite being a huge organization, GE has instilled a strong corporate culture and maintained consistent HR practices across all its business units. This is applicable to its infamous reward management policies too.
GE’s vision is to be the most competitive company in the world. But uniquely, GE does not have a clearly articulated mission statement. It has chosen not to define its mission since it recognizes the fast-changing nature of the dynamic business world. However, it does have a set of corporate values. They are: -
GE’s corporate values are designed to propel its employees to achieve its strategic vision. Employees are motivated to strive towards and maintain these values in the long term. They are also measured on how well they achieve the desired performance expected of them. There is an indisputable correlation between performance and rewards, and the latter is closely intertwined with GE’s vision as illustrated below.
As early as 1930, GE was focused on cooperative labor relations and had created profit-based employee bonuses as well as pension plans. Simply being offered a position at GE is a cause for celebration since GE was well known to groom leaders internally to take up management positions. The reward is based strictly on meritocracy. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(HR - Reward Management in An Organization Case Study, n.d.)
HR - Reward Management in An Organization Case Study. https://studentshare.org/human-resources/1703125-hr-reward-management-in-an-organization
(HR - Reward Management in An Organization Case Study)
HR - Reward Management in An Organization Case Study. https://studentshare.org/human-resources/1703125-hr-reward-management-in-an-organization.
“HR - Reward Management in An Organization Case Study”. https://studentshare.org/human-resources/1703125-hr-reward-management-in-an-organization.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Reward Management in GE Organization

Reward Management

...?Reward management Contents Sr. # Topic Pg Introduction 2 2. Relationship between rewards and performance 3 3. Flexible reward policies 6 4. Non-financial rewards 8 5. Integrated approach to total reward 10 6. The employee entitlement trap 12 7. Conclusion 13 References 14 "Little evidence demonstrates the efficacy of rewards, although much evidence indicates that rewards and their design loom large in management attention" Pfeffer, 1998 qtd. in Armstrong, 2010: 50 1. Introduction: The world is changing at a rapid rate, resulting in a simultaneous change in the composition and structure of the workplace. The organizations today comprise of a highly diversified workplace, than ever before. The expectations of the employees have also changed...
12 Pages(3000 words)Essay

Performance and reward management

...?Performance and Reward Management The changing business environment of the current times has meant that the organizations have evolved over time. This has also been implicated through the diverse sets of ways under which business domains have been bolstered with the impact of reward policies and practices that are there for the employees’ taking. One must remember the fact that an organization might go to any limits in order to make sure that the performance and reward management attributes are taken care of and hence the employees enjoy the perks that are given to them when they perform at par with their skills and abilities. What is required in this day and age is a vision to set things right and that too in the long run scheme...
12 Pages(3000 words)Essay

Performance and reward management

The challenge to any organisation is to formulate a fair reward system that can motivate employees to work with enthusiasm. In the present context, implementation of proper incentive system along with well defined performance appraisal system is primarily convened by HR personnel. Reward management is important in order to achieve organisational strategies, to build up the psychological bond with employees and to act in accordance with legislation. Reward management is related with performance appraisal of an organisation as it motivates employees to perform better day-by-day. Performance appraisal is the other tool to measure performance of employees which increases motivation level and determines the training needs among others...
12 Pages(3000 words)Assignment

Performance & Reward Management

...PERFORMANCE AND REWARD MANAGEMENT The presentation was really good the combination of the information with the presentation was superb. The information was at a technical level that suited other students of the class and the way it was presented was an additional credit that goes to the presenters. Though the presentation was very good but it had certain drawbacks that I would like to discuss here in this paper plus the positives of the presentation would also be discussed. The combination of text with picture representations was also done quite effectively. The presentation's color scheme and the text size plus the amount of information put on one slide are some attributes that give the presentation the look that is required in this case...
2 Pages(500 words)Case Study

Performance & Reward Management

...PERFORMANCE AND REWARD MANAGEMENT College INTRODUCTION Performance and Reward Management: An Overview Performance and Reward Management are considered to be of vital importance to every organization. Vince (2002c) provides an explicit definition with regard to these concepts. According to him, performance management is defined as a concept that is generally concerned in the measurement of individuals’ effectiveness in their roles within a certain organization. In the same manner, it is also concerned with these individuals’ understanding of their aspirations as well as finding the appropriate actions which could contribute to their development. Reward Management, on the other hand, is related to one’s understanding of an individual’s...
11 Pages(2750 words)Research Paper

GE

...From consumer electronics to aviations and rail, GE’s business spans across many countries and numerous industries .Ranked as the biggest company in the world in the year 2009 by the magazine Forbes, GE’s foundations were laid more than 134 years ago, by the great scientist Thomas Alva Edison. Some of Edison’s earliest offerings are still a part pf the products range offered by GE, but since then, the company has expanded from a laboratory in Menlo Park to a conglomerate spread over more than a hundred countries, offering different types of products and services. Diversification and market penetration are two strategies that have always played an important role in bringing growth in the business activities of an organization. Same...
4 Pages(1000 words)Essay

Performance and Reward Management

... data in order to make rational and informed decisions for adequate performance management. In order to make sure that hardworking employees are rewarded and disloyal and unproductive employees are penalized, it is imperative that HR data is collected and maintained. Such data includes but is not limited to employees’ attendance, their productivity in terms of goal achievement, their discipline and conduct, and their professional growth and skill development. Having detailed recorded information of all these aspects enables the managers to quantify the results and ensure that the resources are adequately utilized for the benefit of the organization. Q. 2: Ans. Two types of data that is collected by organizations are employees’ performance...
3 Pages(750 words)Assignment

Performance and Reward Management

...First and Performance and Reward Management A of 2 purposes of performance management and their relationships to business objectives. a. Driving results Performance management is aimed to connect employees and management activities within certain organization to ensure mutual performance to be established in the proper manner, thus to meet the goals of the organization and bring certain profit to it. One of the purposes of performance management is to drive the results, which means that to improve business outcome by means of organizational goal alignment, measurement of the performance, coaching and information sharing. For organization, this purpose means the ability to drive certain achievement to ensure individual, group...
4 Pages(1000 words)Assignment

Strategic Management - GE

General Electric Analysis of General Electric external environment Evaluation of value chain GE has continuedto be profitable through innovative solutions such as ecomaginition and healthymaginiton (Whitfield, 2006). Also, the company has continued to invest in GE facilities overseas to facilitate growth, for instance, it has invested more than 1.4 billion per year in green technology. GE also uses its size to buy out its competitors and diversify in products.
Evaluation of SWOT analysis
The strengths of GE have increased the company’s profitability index which is evident in the amount of dividends offered to the shareholders and the net growth in earning per share (Weil, 2007). However, the company has been faced by law sui...
2 Pages(500 words)Essay

Human Resource Management - Reward Management

As in any brain based industry, well trined and highly motivated individuals are the resourse which has the capability of being able to produse the desired innovations and creative solutions to make difference. These precious human resources need not be plentiful, but have to be provided the right conditions of work and rewards in order to be able to make a difference. Hence, motivating employees and being able to deliver rewards for creative efforts are important considerations in any brain based industry, including the information technology sector. Reward management and the management of human resources in the information technology sector has, therefore, an important role to play in ensuring that the information technology...

19 Pages(4750 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 Case Study on topic Reward Management in GE Organization for FREE!

Contact Us