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The comparable differences in rewards and recognition between a corporation and a European Subsidiary (of a U.S. company) and start-up organisation.

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Introduction

The comparable differences in rewards and recognition between a corporation and a European Subsidiary (of a U.S. company) and start-up organisation. Words Characters Paragraphs Lines Executive Summary 85 593 4 12 Introduction 150 1034 4 18 Analysis 1,581 9,700 164 304 Recommendations 210 1,254 6 23 TOTAL 2,026 12,581 178 356 Appendices 825 4,665 27 11 Executive Summary This report will highlight the comparable differences in rewards and recognition between a corporation, Nortel Networks and a European Subsidiary (of a U.S. company) and start-up organisation, Fine Point Technologies Europe. It will take into account the companies' different organisational cultures and the advantages and pitfalls in their reward policies. Critical issues such as flexible payment systems, pay determinants and performance management will be underpinned with theory. The report will conclude with a summary and recommendations in terms of drivers for both types of organisation. Contents Introduction ................................................................................................ 4 Analysis ..................................................................................................... 5 Recommendations .................................................................................... 12 Appendices ................................................................................................ 13 Bibliography ............................................................................................. 21 Introduction Using definitions of reward from Heery and Noon (2001), and foundations from Herzberg et al. (1959), the analysis will highlight the comparable differences in rewards and recognition between a corporation, Nortel Networks and a European Subsidiary (of a U.S. company) and start-up organisation, Fine Point Technologies Europe. The analysis will also prove McClellands (1967) theory on Acquired needs and also introduce the importance of Armstrong & Brown's (2001 strategic approach to reward by looking at broadbanding. Using ideologies of various writers including Thompson (2001), Thorpe and Homan (2000) and Armstrong (1999), the report will look at benefits and non-financial motivation, which differentiates the reward systems of the two companies. Critical issues such as flexible payment systems, pay determinants and performance management will be underpinned with Armstrong (1999), O'Leary (1997) ...read more.

Middle

That maybe valid for the U.S. mother company, but the European organisation has the opportunity to implement a more manageable middle of the road flex policy to encourage employees and instil a new culture. When it comes to Flexible pay, as Thorpe and Homan (2000) recognise, there are several dimensions, drivers and components. Diagram 1.0: Dimensions of Flexible Pay The reasons for all the above is to increase competitive advantage and so there is a greater need to embrace many forms of organisational flexibility. Non-Financial Motivation Armstrong (1999) discusses non-financial motivation in terms of achievement, recognition, responsibility, influence and personal growth. Nortel Networks Fine Point Technologies Achievement Achievement motivation can be increased by organisations though processes and systems such as job design, performance management, and skills-based and competence-based pay schemes. Individuals in managerial, sales, marketing and research and development jobs are strongly motivated to achieve, but the aim is by no means restricted to people in those occupations or roles. Recognition Financial and non-financial rewards operate mutually to reinforce this form of reward. Recognition provided by positive and immediate feedback Responsibility Levels of responsibility vary because of a corporation's empowerment and cultural differences. High level of responsibility as it is a small organisation. Individuals are expected to take on the three elements of a task; planning, executing and controlling. Influence The hierarchical structure and size of an organisation makes it difficult for employees to be influential. As above, size of organisation helps, but internal politics can overshadow employee's influence. Personal Growth Important corporation as long as individual stays in Nortel and grows Employees grow with company and at their own pace. Table 3: Differences and similarities in terms of non-financial motivators at Nortel and Fine Point The archetypical Sales person O'Leary (1997) ...read more.

Conclusion

With over 2000 training courses offered every year, we believe in the personal development of every staff member. We also understand the importance of employees' personal lives. Some of our sites even provide fitness centres, masseurs, physiotherapists and pubs! On-site restaurants, coffee shops and dry-cleaning services are also available at various Nortel Networks locations throughout the UK, making it easier for our staff to balance their work and private lives. Kam Patel was the Vice President of the Hosted Solutions, EMEA organisation and was responsible for establishing and implementing strategic, corporate sales direction for the 40-man team, responsible for $250million of business from Enterprise and Service Provider customers, revised to $150 million after downturn in market. After two successful years of operation leading the establishment of strong, profitable business relationships with key, marquee customer accounts to leverage and build the brand, the organisation was saturated, as Nortel Networks concentrate on Core Competencies. Before the reorganisation, the team closed 2 major deals, one directly resulting in $120m revenue over 2 years and one indirectly resulting in $100m over 18 months as well as creating a sales pipeline for other parts of the organisation. Appendix a Performance Dimensions The MFA process and performance dimensions are based on Ken Blanchard's Situational Leadership? II. This theory is based on the principle that there is no best leadership style. Effective leadership occurs when the appropriate leadership style is matched to an individual's development level on a specific goal or task. For individuals at: * D1 (low competence / high commitment) - starting with a Directing (S1) leadership style. * D2 (low to some competence / low commitment) - use a Coaching (S2) leadership style. * D3 (moderate to high competence / variable commitment) - a Supportive (S3) leadership style is most effective. * D4 (high competence / high commitment) - use a Delegating (S4) leadership style. ...read more.

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