BUSINESS DATA

Collecting and Using Business Data

Collecting and Using Business Data

Task 1

1. Business Problem

"Satisfied employees tend to be more productive, creative, and committed to their employers" (Syptak, Marsland, & Ulmer, 2009, p. 26). Many organizations strive to maintain satisfaction level of employees and willing to improve it with the passage of time. The problem is the lack of studies that explore the impact of nonmonetary reward programs on employee job satisfaction at US retails.

Organizations major desire is to improve retention issues and minimize turnover through various channels of monetary and nonmonetary rewards. Monetary rewards are important because “salary is the basic and most important reward that people get from working” (Syptak, Marsland, & Ulmer, 2009, p. 29).

The focus of this study is to examine whether the use of monetary and non monetary rewards leads to the satisfaction of employees in US retail. The main focus of this study is on the Wal-Mart stores in US. This study also highlights the need for retention of human capital at Wal-Mart during competitive times. Therefore, the purpose of this qualitative study is to explore the impact of a monetary and nonmonetary reward program on employee job satisfaction at US retails.

2. Potential Data Sources

Wal-Mart in US is the source of data collection for employee population. The selection of participants is on the basis of purposeful sampling to ensure participation throughout the departments.

3. Analysis

The population of this study included the employees of Wal-Mart who experienced a monetary and nonmonetary reward program. Through purposeful sampling, the researcher strived to obtain representation from various departments. 100 employees invited to participate and share their perceptions and experiences.

Monetary is definitely something that financially impacts you and has the ability the change your lifestyle whereas the nonmonetary is really kind of that pat on the back and more mental than physical.

The monetary reward program based on a set of criteria, and the targets known prior to the review period. The other one, the nonmonetary thing, is more, you know it is open ended, and esoteric, if you want, and it was very nonspecific, the only specificity to it was that the person had to make some sort of contribution or above, and beyond their normal job tasks.

The Employee of the Quarter Award is a wonderful recognition by the staff. The award is no longer given, and that is disappointing. As for congratulatory notes, these are satisfying as they can be private and kept with you, but they do not have the general recognition of the other two. Appreciation luncheons are the most favorite.

The luncheon because usually your whole department was there when we had the lunch, so the recognition burned in better because everyone was there to recognize you. The other two are not as personal. The luncheon is more personable, it is a warm kind of feeling because in such sort of lunch you are celebrating with your colleagues, and that is the best way of celebrating.

The findings indicate that, of the 100 participants, 30 had positive comments ...