Employee Reward And Resourcing Module_HRM - Essay Example

Comments (1) Cite this document
The objective of this research is to identify the basic relation between employee reward strategies and employee resourcing and evaluate it in context of the report, ‘For what it’s worth?’ given by by CBI. A rewarding strategy is a framework of payment to employees, keeping in mind the needs of both the organization and the employees. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
Employee Reward And Resourcing Module_HRM
Read TextPreview

Extract of sample "Employee Reward And Resourcing Module_HRM"

Download file to see previous pages There are two fundamental reward strategies; pay-related reward policy for the private sector and fixed pay structure for the public sector. These two forms have been critically evaluated.
Employee resourcing measures the recruitment, retention and transfer of employees. Its strategic and operational components are Human Resource Planning, Resourcing Plans, Retention Strategy, Flexibility Strategy and Talent Management Strategy. A relation is found between employee reward and resourcing; the higher the reward, the higher the ease of recruitment, retention and transfer of employees.
However, the report by CBI cites pay as one of the least related determinants of resourcing. Instead, it identifies the ability of the management staff and communications pertaining to the value of rewards achieved as the main factors influencing resourcing of human capital. As conclusion, some key recommendations are given that would lead to a more efficient working of the public sector and reduce government deficit.
The world believes in the principle of ‘punishment for failures and rewards for achievements’. With the biggest companies going global, a need has been felt to recruit, retain and transfer human resources of the companies, i.e. employees, to various other sites of business in order to expand the scope of business and achieve the maximum corporate dividends. However, research has found that companies are not able to handle this effectively. As a way out of this problem, companies, now, offer higher monetary rewards to their employees as compensation, benefits, bonuses or incentives. But in order to decide standard policies on granting rewards, reward strategies have to be decided. A detailed description on these lines has been provided in the following paragraphs and this subject has been studied, analyzed and criticized in view of the report “For What it’s Worth?” composed by the CBI. Understanding Organizational Reward Strategy and its Components Meaning of Reward Strategy “Reward Strategy is a declaration of intent which defines what the organization wants to do in the longer term to develop and implement reward policies, practices and processes which will further the achievements of its business goals and meet the needs of its stake-holders” (Armstrong, 2009, p.746). It forms a rough framework for reward policies by setting direction and purposes for them. A reward strategy takes into account the needs of the employees and the organization. It develops the values of an organization and sets the basis on which people are to be valued and thus, rewarded. Components of a Reward Strategy There are various components of Reward Strategy and which are interrelated. The important ones have been stated as follows. Non-Financial Rewards: Rewards are not always monetary. Sometimes, they may satisfy a person’s need for influence and reputation. Non-financial rewards may be in the form of recognition, responsibility, achievement or growth. For example, an employee may be receiving promotion or awards for attaining a high standard in his field of work. Job-Evaluation: It is a process which involves the identification of particular jobs and the corresponding employees in those jobs and a standard scheme of evaluation is developed and finally, a pay structure is decided upon. (Armstrong and Baron, 2002, p.30) Base Pay: It is the fixed income of the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Employee Reward And Resourcing Module_HRM Essay”, n.d.)
Retrieved de https://studentshare.org/management/1391010-employee-reward-and-resourcing-modulehrm
(Employee Reward And Resourcing Module_HRM Essay)
“Employee Reward And Resourcing Module_HRM Essay”, n.d. https://studentshare.org/management/1391010-employee-reward-and-resourcing-modulehrm.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
langeverett added comment 1 year ago
Student rated this paper as
I didn’t know how to start my text. "Employee Reward And Resourcing Module_HRM" helped me out a lot! Especially the list of structure was valuable.

CHECK THESE SAMPLES OF Employee Reward And Resourcing Module_HRM

Employee Resourcing

...? Different styles of employee relation management Management styles are ways of making decisions in an organization and relating to the subordinates. They include the autocratic style, paternalistic style democratic style, and the laissez-faire. Autocratic is a style where all the decisions are made by the manager without involving his subordinates. Thus in autocratic management style the decisions made clearly portray the manager’s personality and opinions. This however may cause employees to greatly rely on their leader thus requiring a lot of supervision to be done. There are two kinds of autocrat leaders; first is the directive autocrat leader who makes decisions in a unilateral manner and supervises...
4 Pages(1000 words)Essay

Employee Reward (Executive Reward)

...?Employee Reward Table of Contents Table of Contents 2 Introduction 3 Executive Compensation 3 Literature Review 7 Analysis & Discussion 10 Conclusion & Recommendations 13 Reference List 14 Introduction Executive Compensation Executive compensation (EC) also known as financial compensation is received by a compensation officer of a firm. The compensation includes salary, bonus, shares, company’s stocks, perquisites and other forms of benefits (CIMA, 2010). Executive compensation is also regarded as a total rewards umbrella and also the company’s strategy as a whole (CIMA, 2010).The executive total reward system and model sets a separate framework and context for executive...
11 Pages(2750 words)Essay

Employee Resourcing

...?Employee Resourcing Contents Employee resourcing 3 Section A 3 Section B 5 Reference 8 Employee resourcing Section A Answer The modern corporate era is exhibiting a remarkable transformation for both the HR practitioners and the HR activities. These changes are both revolutionary and evolutionary. Today the managers are more informed and the HR specialists are expected to do some value addition keeping pace with the organizational sustainability and competitive advantage. The line managers on the other hand are expected to manage the human resource as well as the other resources of the organization. The...
5 Pages(1250 words)Essay

People Resourcing and Reward

...://media.wiley.com/product_data/excerpt/33/04708508/0470850833.pdf Psychometric Tests and Assessments at Work 2007, Retrieved 22 July 2007, from http://www.assessmentcentral.com/ Psychometric Tests Can Really Make a Difference 2006, Retrieved 22 March 2007, from http://www.trainingpressreleases.com/newsstory.aspNewsID=1979 Topic 3. For this topic you are to prepare the outline of a power point presentations. Slide 1. What is "total reward" Total rewards embraces everything that employees value in the employment relationship. It integrates a number of classic human resources disciplines and adds some not-so-classic ones. Sandra O'Neal, Towers Perrin (1998). Slide 2....
18 Pages(4500 words)Essay

Employee Resourcing

...that arise (Taylor, 2002: 16). As compared to traditional personnel management, human resource management (HRM) emphasizes more on finding people whose attitudes and behaviour are aligned with what management believes to be appropriate and contributive to productivity in the organization's working environment. The HRM approach to employee resourcing believes that matching resources to organizational requirements does not simply mean maintaining or ensuring the continuation of the existing conditions; on the other hand, it "promotes radical changes in thinking about the competencies required in the future to achieve sustainable...
10 Pages(2500 words)Essay

Employee Resourcing

...Employee Resourcing Recent years, labor market in UK is influenced by economic and social changes, new information technologies and innovations. The degree of discretion, or strategic choice, an organization has will be determined to a large extent by leadership style, national culture, commitment to past and continuing strategies, the success of certain symbolic actions, and the nature of its systems and processes. Labor market changes demand new skillful workforce able to fulfill different functions and duties. "The success of a business ultimately relies on the type of employees who work there, which encourages businesses to attract and retain good employees" (Blackman...
9 Pages(2250 words)Essay

Employee Reward

...Employee Reward 1.0 Introduction The management process encompasses the controlling and directing of people in the organization with the intention of harmonizing and coordinating the people towards the direction of attaining the goals and objectives that the organization has set. In order to attain these organizational objectives, the management uses the resources available for instance financial, natural, human resources, as well as technological resources at the organizations disposal. In the building environment, the understanding of people and the management of the organization are important owing to the nature of the work in this kind of a working environment. Building is a form of service that is offered to the clients... the...
9 Pages(2250 words)Essay


...Executive Summary The purpose of this report is to review the critical issues that may affect the core functions of Human Resources Management (HRM) that include recruiting as well as resourcing of employees in view of the issues raised in the case study with regards to the current debate on work-life balance and flexible working in United Kingdom (UK). The report will review critical issues that affect Employee Resourcing (ER) which include management of change in the environment the businesses operate, retention of skilled workers as well as staff development. This report will finally attempt to provide necessary recommendations which...
9 Pages(2250 words)Essay

Employee resourcing

...Topic: Lecturer: Presentation: Introduction Employee resourcing is one of the vital activities of any organization as it determines the success or failure of the organization. According to Armstrong (2008), employee resourcing involves activities such as; workforce planning, resourcing plans, retention, talent management among others. Poor employee resourcing results in unqualified employees who do not have the right knowledge, skills and abilities to perform the job hence high turnover, absenteeism and poor performance. It is therefore crucial for the organization to hire right people for the job by...
12 Pages(3000 words)Essay

Employee resourcing

... of time. However there are negative aspects of this approach as well. Tesco has effectively used this approach to recruit its employees. However if they concentrate on the disadvantages and try to reduce them, they can make their approach further more efficient and cost effective. References Burbach, R & Royle, T., 2010. Talent on demand Talent management in the German and Irish subsidiaries of a US multinational corporation. Cappelli, P. 2001. Making the Most of On-Line Recruiting. [online] Available at: http://hbr.org/2001/03/making-the-most-of-on-line-recruiting/ar/1 [Accessed: 16 Apr 2014]. Dhamija, P. 2012. E-RECRUITMENT: A ROADMAP TOWARDS E- HUMAN RESOURCE MANAGEMENT. [e-book] Researchers World. pp. 33-39. http... at Tesco There are...
12 Pages(3000 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 Employee Reward And Resourcing Module_HRM for FREE!

Contact Us