Accenture - Incentivise Employees and Reduce Labour Turnover

7401 WordsNov 16, 200830 Pages
To what extent can Accenture tailor its remuneration package to staff in order to reduce labour turnover and incentivise key employees? Executive Summary Contents Executive Summary 2 Contents 3 Chapter One – Introduction 4 1.1 Research Aim 4 1.2 Research Objectives 4 Chapter Two – Literature Review 5 2.1 Reward Management 5 2.2 Business / HR Strategy 8 2.3 Strategic Reward 10 2.4 The Employment Relationship 12 2.5 Motivation and Financial and Non-Financial Rewards 14 Chapter Three – Research Methodology 16 3.1 Research Philosophy 16 3.2 Case Study Approach 17 3.3 Research Methods 18 Chapter Four – Analysis of Findings 19 4.1 An Environmental Analysis of the Management Consulting Industry 19 4.2 A…show more content…
A key element of this involves creating a virtuous spiral for both employee and employer: “It is entirely possible to design a reward system that motivates people to work and satisfies them while at the same time contributing to organizational effectiveness” (Armstrong and Murlis, 2004: 5). Schuster and Zingheim (1992) went on to develop this concept of new pay, highlighting some of its fundamental principles. This included the idea of a total compensation program, which tied business strategy with reward strategy in order to reinforcing specific organisation behaviours. Pay was considered to be a lever that could help organisations to embrace change; in this sense, it was a positive force for change. The concept of pay became less static with the introduction of risk-based pay; the idea that pay should be variable depending on performance. At the same time, the individual was no longer the focus of pay, as team-based pay became another important mechanism for guiding organisational performance. Finally, pay became an employee relations issues; employees were no longer simply the target of pay, but became involved in devising the reward culture, the values of the organisation, its culture, and the reward systems that should be put in place accordingly. Finally, Flannery et al. (1996) were influential in developing the concept of dynamic pay although many of

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