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Reward Management, Monitoring Performance and Exit Rights & Procedures

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Introduction

BTEC- HNC in BUSINESS Unit 21: Human Resource Management Assignment 2 Reward Management, Monitoring Performance and Exit Rights & Procedures Name- Karan Aggarwal Tutor- Marion Fieldstead Date- 23/01/08 Contents: Page: a.) Introduction......................................................03 b.) Evaluating the process of job evaluation and the main factors determining pay.....................................................04 c.) Reward systems..................................................................14 d.) Explaining the link between motivational theory and reward................................................................................23 e.) Exploring organisational approaches to monitoring performance.......................................................................32 f.) Evaluating exit procedures used by two organisations and comparing these to the best practice.................................43 g.) Analysing the selection criteria for redundancy..............51 h.) Appendices (Index)............................................................55 i.) Self Reflection & Evaluation............................................56 j.) Timetable...........................................................................58 k.) Bibliography/References...................................................59 Introduction True motivation comes from achievement, personal development, job satisfaction, and recognition. -Frederick Herzberg 1923-2000, US psychologist A simple "thank you" counts as employee recognition. But, you can also make employee recognition as elaborate as your imagination can conceive. Recognition is not a scarce resource. You can't use it up or run out of it. No budget is too small to afford employee recognition. For increased employee satisfaction, bring on lots of employee recognition. -Source: (Elizabeth Morgan - EzineArticles.com Expert Author) (http://humanresources.about.com/od/rewardrecognition/a/recognition_emp.htm) This report has been designed to establish the effectiveness of principles and procedures for monitoring and rewarding the employee; as well as to explore the rights and procedures on exit from an organisation. Evaluating the process of job evaluation and the main factors determining pay "Job evaluation is a systematic process for defining the relative worth or size of jobs within an organisation in order to establish internal relativities. It provides the basis for designing an equitable grade and pay structure, grading jobs in the structure and managing job and pay relativities." -source: (M Armstrong, 2006, pg: 660) Charted Institute of Library and Information Professionals in agreement with Incomes Data Services defines job evaluation as 'a means of comparing jobs to ascertain their relative worth to an organization at any given time'. -source: (IDS Studies plus, Job Evaluation, Summer 2003; http://www.cilip.org.uk/jobscareers/jobevaluation). ...read more.

Middle

Theories of goals and targets have become popular in recent decades, for instance Locke's argument that people are motivated by relatively difficult goals that they have agreed to seek (Latham and Locke, 1979). This puts the source of motivation not on some "need" of the employee, but on the achievement of a goal with which he/she has been involved (in setting). MBO (Management by Objectives) was an approach to management based on motivation to achieve goals first proposed by Drucker in 1964, but its overly bureaucratic application often produced poor results. Similar to goal theory are those theories of behaviour modification which suggest identifying the behaviour to be changed and what is required, applying influences such as guidance, prompting, feedback and reinforcement to bring about the desired changes (for a summary see Guest, 1984). Link between motivation and reward Much of the literature on motivation which was discussed above links directly to reward and remuneration systems theory, but some of it has only indirect implications for reward systems. Taking the various stages in motivation theory and linking them to their remuneration system implications, we have: Motivation theory Reward system implication ECONOMIC MAN Payments directly linked to measured increments of work, as in payment by results Economic Man with periodic fatigue -as above, but with regular rest and meal breaks and possibly subsidised canteens NEEDS THEORIES: * Human Relations; * Maslow; * Herzberg; * McClelland; * McGregor Hourly or weekly wage/salary with no incentive element; Emphasis on motivating through human relations skills, job enrichment or opportunities to satisfy higher order needs such as achievement. EXPECTANCY THEORY - a refinement of Scientific Management Payments directly linked to effort, care taken to ensure employees believe they can achieve the effort, that the rewards are desirable, and that performance will improve, and produce the expected reward if they put in the effort CONTINGENCY or "BEST FIT" THEORY Payment system designed to suit the contingent organisation features and the kinds of employees REACTANCE THEORY and "Best Practice" Key features ...read more.

Conclusion

www.compactlaw.co.uk * www.businesslink.gov.uk * www.personneltoday.com * www.emplaw.co.uk * www.jaluch.com In retrospect I think I made use of used a sufficiently wide range of research sources. I made use of all material provided by the college and all that was reasonably available to me. It was very difficult to keep within the word count while trying to cover all of the criteria to a good standard, given the wide area that this assignment encompassed. I have met with the completion time, and have endeavoured to produce work of a standard which is above average. I very much enjoyed this assignment. Timetable Date Activity Wednesday 9th January, 2008. Discussed the research criteria and the doubts with the course lecturer. Tuesday 15th January, 2008. Researched the assessment criteria and gathered notes and printouts also used the same book bought for the last assignment from Liverpool, Waterstones i.e. M Armstrong & issued the course textbook from the college library. Wednesday 16th January, 2008. Used my class handouts to understand and revise the portion Thursday 17th January, 2008. Evaluated the process of job evaluation and the main factors determining pay using the textbooks, class handouts and the internet. Friday 18th January, 2008. Identified a range of reward systems and their benefits and limitations using the textbook, class handouts and on the internet. Saturday 19th January, 2008. Explained the link between motivational theory and reward using the textbook, class handouts and on the internet. Sunday 20th January, 2008 Explored organisational approaches to monitoring performance using the textbook, class handouts and on the internet. Monday 21st January, 2008. Evaluated exit procedures used by two organisations and compared these to the best practice used from the internet and using the help of the textbook, class handouts and on the internet. Tuesday 22nd January, 2008. Analysed the selection criteria for redundancy using the textbook, class handouts and on the internet also finished the introduction. Wednesday 23rd January, 2008. Finished the self reflection, timetable and the referencing; completed, printed and then submitted the assignment. ...read more.

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