Reward Management

Effective Reward Management

By



ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

Table of Contents

ACKNOWLEDGEMENTi

DECLARATIONii

CHAPTER 2: LITERATURE REVIEW1

Notions2

Significance2

Nomenclature3

BestWay's Model4

Best Talent5

Structure6

Wage7

Inter-Organizational Strategy8

Employee Development Plan10

Work- Life balance10

Employee Reward Programme12

Employee Inculcation15

Summary17

References19

Effective Reward Management

CHAPTER 2: LITERATURE REVIEW

In literature review researcher will explore theoretical aspects of reward in depth and how these rewards promote performance within an organization. Moreover, this chapter of the research will also helps to develop the definitive understanding of the subject in relation to the pretext of the paper. Reward system tends to be identified as a phenomenon, which stands to be interpreted differently to each individual. Some work to achieve financial growth and some work to professional growth. However, it doesn't mean that either of the approach is wrong, however, this paper will only inject the understanding regarding how Bestway works in extracting the full potential of an employee. This also means that different aspects relating to the nomenclature of the reward system will be discussed in order to develop an effective and efficient understanding of the subject.

As highlighted above in the course of the paper that different people have different needs and by taking this notion into consideration researcher fully understand that not only salary alone gets the full employees potential at work but also require some non-financial incentives/reward. How these rewards work for the employees and employer is the major focus point of this study. Many experts are of the view that Reward system is directly linked or proportional to the performance of an employee. Whereas, the philosopher tends to oppose the idea, and frame professional growth as the primary driving factors in exploring the full potential of an employee. Thus, the debate of reward system therefore goes beyond monetary gain because even those who are working for charitable organization gets rewarded in the form of recognition as it is seen, as the driving factor for involving the employees to get involved in the matters of the organization and contribute effectively.

Notions

This section of the paper will be touching upon the framework identified in order to inject the understanding in readers mind regarding how reward system works at Bestway.

Significance

For an organization to remain competitive and survive in the market, it is essential that it should not only cater to its employees rather it should also cater to the needs of its employees One way to cater to the needs of the employees is through an effective reward system. As reward system is viewed by many, as the source to motivate the employees. If employees tend to gets demoralized, the company will lead itself to poor quality and dissatisfaction by ...