Reward Employee Performance Receive A Return On Investment

There are two main types of surveys to evaluate employee satisfaction; interviews and questionnaires (Ransom et al., 2012). Interviews may be more advantages as they allow the interviewer a chance for follow up questions, but run the risk of receiving untruthful answers due to a lack of trust. Questionnaires allow the same survey to be admitted to a large group of people, however these too can create fear in employees of being identified. Questionnaires must be careful of how questions are worded as to not be misinterpreted (Ransom et al., 2012).

Human Resource Manager focuses on three main areas which are Recruitment of, Management of and providing training for the people who are employed within the organisation. This department deals with hiring, health and safety, motivation for the employees (such as bonuses) and managing the performance. An organisation that I will be relating this too is Tesco. There are three main factors that Tesco has to consider and they are Internal planning, External planning and Employee skills.

A human resource manager is responsible for employee compensation, recruitment, employee policies, and regulatory compliance. The positions is no longer simply administrative, human resources has become the heart of organizational culture. Human resources help companies make the best of their human capital by hiring intelligently, providing incentives towards retention and creating growth opportunities for the employees. If a company has successful human resource personnel the company stands

There are multiple types of survey methods utilized in research. Three of the main survey methods include interviews, electronic surveys, and written surveys. In interviews, the assessor works directly with the respondent to obtain responses to the survey. Utilizing interviews allow researchers to obtain comprehensive and thorough responses. Moreover, the interviewer is able to follow-up on certain responses if more information is needed. Despite these benefits, interviews have some potential disadvantages. It is difficult to obtain a representative sample of a population willing to participate in an interview. Additionally, this type of survey is often costly in time and money. Furthermore, there is potential for interviewer bias to affect

The human resource manager directs the activities of the people in his or her department and perhaps in related areas also.

Human resources management is responsible for employee relations, staffing, training, development, compensation, and benefits (Mariotti & Glackin, 2013). Due to the size of the business proposed (no more than two employees); the owner will handle human resources. Items suggested by Inc. (n.d.) for the owner to be familiar with include:

Organizations, hungry for more response options to reward their good employees, have widely adapted the emerging HRM technique of reward managementthat includes all sorts of monetary and non-monetary rewards in exchange for their performed work (University of Leicester, 2006). The value of combining base pay along with other performance related-pay and non-financial rewards spurs the recruitment and retention of good caliber employees and creates a feeling of achievement, recognition, responsibility, influence and personal growth amongst the employees (Armstrong,

Human resource is the backbone of any business. It deals with the most important resource in the business – people. For any business to achieve its objectives they must plan their resources and one of their key resources is people. Human Resource managers are responsible for getting the right people in order to meet the organization’s aims successfully.

When the job market is tight companies look for ways to “sweeten the package” to recruit and retain the best and the brightest (Ortega, 2006) one of the way is with non-monetary rewards. The survival of a company depends on the talent they have in helping to run the company. There are several issues that arise when dealing with compensation and benefits. Issues like should rewards be performance based? What constitutes a fair reward? What kind of rewards should be offered and how much of a budget should it consume? According to (Purushotham, 2009) there are factors like leadership, culture, employee demographics, affordability and business cycle that will affect the kinds of rewards that are offered. While many people equate their net worth to their self-worth non-monetary rewards can be used to increase the self-worth thus raising the

Organizations are creating and adopting innovative benefits in order to improve their overall compensation strategies. Compensation strategy defines how an organization plans to reward its employees for their time and efforts. An effective compensation strategy enhances (1) talent management, (2) supports an organization’s business objectives, and (3) provides organizations with a return on their investment. Therefore, in order for innovative benefits to enhance the competitiveness of an organization’s overall compensation strategy, the benefits must align with these three goals.

An organisation’s output is highly dependent on its workforce’s skills, experience, and level of motivation. In order to attract and retain highly skilled workers, organisations have traditionally used higher wages. This practice is supported by the Efficiency Wage Theory, which argues that firms have high chances of benefiting if they pay their personnel wages above the equilibrium wage in the labour market (Mankiw 2014, p. 425). But in order to continue to motivate their employees, most organisations implement reward programs such as pay for performance – merit pay – in the hope that their workforce will feel appreciated to continue exerting effort in their work (Hellriegel & Slocum 2008, p. 175). By motivating their employees, organisations forego the cost associated with job loss, they maintain their competitive advantage, and create a high performance culture.

With reference to Figure 1 (Lawler 1987), the framework shows that elements in the compensation system, i.e. performance measurement and evaluation, monetary compensation and career concerns links employee performance to their rewards in the form of monetary compensation and promotions. Hence, the framework suggests that rewards

Rewarding good performance is a very vital component of a performance management system, as it will determine the work motivation of an employee. According to the article “ How to Improve employee performance, “There are many ways to acknowledge good performance, from a sincere "Thank You!" for a specific job well done, to promotions within the organization, establishing formal cash incentives, and recognition and award programs. This article also stated that “The awards regulations should not only provide rewards to the best employees, who showed best performance, but also to cover weal performance and reveal unsatisfied employees.”

Questionnaire is the most commonly used method in survey. Questionnaires are a list ofquestions either an open-ended or close -ended for which the respondent give answers.Questionnaire can be conducted via telephone, mail, live in a public area, or in an institute,through electronic mail or through fax and other methods.

The effectiveness of an organization's performance and reward management can have a major impact not only on morale and productivity but also its ability to attract and retain staff. Many companies have found that far from complementing the stated aims of the business, their performance and reward systems were actually driving counter-productive behavior.