BSBWOR502 LEAD And Wageness

This assignment has been produced to provide evidence of my organisations goals & objectives, the evidence provided gives clear distinction between the goals & objectives of my organisation.

3. Prepare daily progress report, document reasoning behind his decisions and set-up calls with his supervisor to identify issues and engage him on a daily basis.

In order to be productive all members of staff should be aware of the goals of the firm. Knowing the goals allows the manager to make effective decisions. The goals of the firm can be viewed as the motives of the entrepreneur’s who own and run the firm. There a number of goals that a firm can pursue in its day-to-day

Describe goals and objectives as they apply to business. pg 181-182; wk 6 lecture, pg 1

They must be specific, measurable, supported, and achievable. These goals will be motivators for the immediate time to come. Unobtainable goals are discouraging and provide no real way to achieve company goals.

Pay and reward systems exist in the form of pay, bonuses and benefits, financial and non-financial and designed to improve performance, increase motivation, staff retention and increase profitability. Appreciation and gratitude is widely received as reward and the opportunity for training and development for career progression.

Also, form career development plans and spot out important achievements within the business. Not only employee motivation should be worked on, but also set up a comprehensive rewards system. The

Employees deserve recognition for their hard work, creative ideas and commitment to the company. “Employee recognition is the timely, informal or formal acknowledgement of a person’s or teams behavior, effort or business result that supports the organization’s goals and values, and which has clearly been beyond normal expectations” (Wiley & Kowske, 2012). It is important to show employees your appreciation for their work so they can understand how they are valued by the company. The effect of this action helps to increase employee satisfaction and productivity. Rewarding employees

Pay and Rewards – pay and rewards attract, motivate and retain staff. The employment contract which lists rewards, whether it be pay, bonus or benefits, can remove animosity amongst employees and employers. However, recent research reveals that employees are no longer motivated by a financial reward alone, but

A motivated workforce can be a significant success when employees are motivated to work at a higher levels of productivity. Also this means the whole organization is more effective at reaching it’s goals. Rewards can be a positive outcome when it comes to boosting your organizations self-confidence and higher employee satisfaction. Having a reward system can always be a good outcomes because this shows how much your workers are willing to work to achieving a goal in order to receive something in return. This not only gets things done but brings out another side of your organizations as a whole.

Reward Management (RM) has been defined as the distribution of monetary and non-monetary rewards to employees in an effort to align the interests of the employees, the organisation, and its shareholders (O’Neil, 1998). In addition O’Neil (1998) also suggests that a RM system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees, ensuring legal requirements relating to direct and indirect rewards are not violated, assisting the company in achieving human resource and business objectives, and ultimately assisting the organisation in obtaining a competitive advantage.

That relates directly to winning a larger market share. The short-term goal for the company should be to cut coasts and improve the human resource department functions. Which can be done through the above stated suggestions of the improvement of the business.

“While Mangers complain about lack of motivation in their workers, they might as well consider the possibility that the reward systems they’ve installed are paying off for the opposite”.

Recognize & Reward Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to