INTRODUCTION What cannot be assumed is a clear relationship between pay and motivation. Indeed, as Pfeffer (1998) suggested, over reliance on pay to secure the motivation of employees could be at the cost of more powerful motivators such as, flexible, high-trust, and work-friendly environment. Clearly, caution needs to be exercised in assuming that the implementation of strategic reward management will lead to a reward strategy that will automatically change employee behaviors in line with the organization?s business strategy. However, having said this, it would be foolish to abandon the argument that reward strategy can play a role in contributing to organizational change (Redman and Wilkinson, 2001, p.102). Performance is the cornerstone to success and productivity. Performance comes about through the wholehearted and sincere effort of employees of an organization. This is possible only if the employees are kept happy and cared for. Strategies that favour employee retention, elicit competitive bonus schemes, and creates healthy work environment are pre-requisites for employee performance, culminating in higher production. A company?s best asset is its people, so there is a good reason why the company needs to do what is right for them. A point of contention to performance and productivity is the way one works; the ability to work remotely, where enterprise convergence gains momentum. For business bosses and their employees, a converged environment makes work location and distance irrelevant. The impetus to work for the benefit of the organization must come from within the individuals concerned. This can come about with the sustained effort of the management to bring changes that enliven the workplace (Tanuja Randery, p.107, 2006). Decades ago, company?s never felt the need to reward or recognize their workforce for their hard work, leading to periodic absenteeism and lack of interest. Decades later, the trend has changed and companies have recognized the importance of acknowledging and at the same time rewarding their staff for their dedication and sincerity. Higher pay structures, flexible working hour, motivational activities, and bonuses are part of a company?s strategy to stay competitive and grow. Work should be seen as enjoyable. No one likes to work in a stress-filled atmosphere. The idea to generate interest among groups to perform systematically; giving them the freedom to innovate and develop their own working style will help improve production. We saw that an organization?s HR department has the primary duty of identifying promising and talented individuals for their work shop. Once they are selected, the managers come into the equation of motivating, and innovating. Understanding the needs of the workers is of utmost importance. Once workers see a shift in organizational policies towards them, they will return the favor and work tirelessly to the advantage of their company. LITERATURE REVIEW Employee motivation Employee motivation is the key to the profitability and competitive success of any company in the current business world. Research has shown that a well paid employee does his job well and in return the company?s performance is greatly enhanced. Employer and employee relations are very important in ensuring that a company realizes its mission. In fact, it has been researched and found out that well paid employees usually translate to satisfied customers i.e. with motivated workforce they do their tasks well thus retaining and attracting more customers. Hence, with proper policies and administrative skills, managers can create satisfied employees. (Dyer, 1984) Employee reward schemes may take different forms that include the following: The first factor is of job security which is the primary driving force an employee centers on while working, it is the ability to retain the job for as many years as possible. Personal organization and family budget go in line with job security concerns. When an employee is confident of his or her job security at the workplace, his performance is far much better than a case where he or she is not sure of being retained in the next year. With job security an employee will know that at the end of month he/she will be paid thus becoming motivated (Fiddler, and Atton, 1999) The other factor is pay satisfaction whereby research indicates that people don?t work unless they receive pay work done as a motivator which is therefore the key to employee satisfaction. Managers normally use financial rewards to improve their worker?s performance. Good salaries equally translate to better work. Every worker would want to continue working for an organization which pays him or her well. (Armstrong, 2006) Safety in the work environment is another key motivator that organizations should embrace in order to retain and attract employees. People who feel safe in their working environment tend to perform better than those who don?t. Safety can be in the form of human-machine relations and human-human relations. (Armstrong, 2006) Flexibility to balance life and work issue is another key factor that should be adhered to in the workplace. Proper coordination between the work issues and personal life is necessary to balance both. Overworking and work stress usually affect human healthy both in social, mental and physical terms. (John and Keith, 1997) Source of motivation is that of using rewards and gifts in order to inspire employees in an organization. Research indicates that rewards should not be very big inducements but the small gifts given to anybody is well appreciated. For example a handwritten thank you note is normally appreciated and cherished. Everybody loves chocolate, and provision of such kind of rewards especially at the weekends and special days like Christmas and Valentine days, helps to build positive relationships between the company and the employees. Gift certificates such as birthday wishes are a morale booster to self-confidence of the employees. Some companies offer their logo merchandizes in form of t-shirts, caps, mugs, pens, jackets and computer mouse pads. In addition, motivational posters could be strategically drafted for individual recognition for job well done. In most cases, people would want to know if their work has made some difference and therefore provision of such rewards is encouraged in order to motivate the employees. (Cullen and Parboteeah, 2005) Another way of motivating employees is through praising them; for instance if they have fulfilled their undersigned tasks effectively.
The firms? management can strategize by ensuring that they keep the records of the performance of employees. Any employee who shows commendable improvement can be praised in the organizational weakly, monthly and also the annual meetings. Through this employees will always be motivated and thus improve their performance so that they can also be praised. This should not just be carried out in the formal meetings only, but managers should make time to meet with individual employees who are reported to have been performing better and praise them for the good work. This plays a big role in motivating the employees in an organization. (Maundy, 2001) The other benefit which acts as source of motivation is that of house allowances for example given according to ones job scale in many firms. Research reveals that effective motivation systems need to actually focus on the overall positive reinforcement. It is widely known that positive reinforcement is a very effective tool since it acts as a stimulator to achieving the set goals. It encourages the desired behavior in organizations. It normally stimulates individuals to take positive actions since they would want to gain by getting valuable things which may either be external or internal in nature. When a program is effectively designed and managed, then it can help in the overall reinforcement of desired behavior including performance. Another aspect is that each reward needs to be fully earned by the performer before he or she is rewarded. This is because there are some organizations which reward employees and yet they have not fully earned the reward. For the entire performance of the employees to be improved, managers need to ensure that employees actually attain the laid down measures for them to be rewarded. When this is not effectively carried out, it works negatively on the employees? performance. (Cullen and Parboteeah, 2005) Reward systems are very vital in every organization. This is because they play a big role in improving the performance of the staff. Organizations can use reward systems to improve the performance of their staff by praising employees who attain set targets. This can be done in organization meetings or also at individual level. Rewards have to be carried out often for then they achieve better results. Managers in organizations have to ensure that the set measures are attainable for them to motivate employees to improve their performance. Maslow's Hierarchy on Motivation Abraham Maslow was a psychologist who argued that human beings are always motivated by needs that are in a hierarchical order flowing from those orders regarded to be low to those said to be of high order. Maslow theory identifies five needs of human beings that have to be satisfied. Maslow involves the provision of protective clothing, medical cover, housing and transport allowances, pension schemes, job security and insurance scheme to meet these needs. The main psychological needs that are basic to most human beings are food, shelter and clothing. We also have social needs that are provisioned to be social like family morals and feelings, intimacy and understanding of each other, sharing of social amenities or services like sports and entertainment. (Maundy, 2001) Maslow theory also entails the esteem needs that entail education, rank and title symbols, fringe benefits like shares, bonus, size of work place and equipments. The other need is the self fulfillment needs that incorporate individuals need fro appreciating potentialities, feeling of achievement or success and continuous self development. Employee satisfaction is the key to the economic success of any company. Research has shown that a satisfied employee does his job well and in return the company?s performance is greatly improved. Employer and employee relations are very important in ensuring that a company realizes its mission. In fact, it has been researched and found out satisfied employees usually translate to satisfied customers. Hence, with proper policies and administrative skills, managers can create satisfied employees. (Maundy, 2001) He states that every individual develops a desire to be safe and secure in every situation the best example of this is that of, the Safety in the work environment people who feel safe in their working environment tend to perform better than those who don?t. Safety can be in the form of human-machine relations and human-human relations. Personal organization and family budget go in line with job security concerns. When an employee is confident of his or her job security at the workplace, his performance is far much better than a case where he or she is not sure of being retained in the next year. (Cullen and Parboteeah, 2005) Under this Maslow states that individual need to be recognized, to be given attention and also to be appreciated by other people around them, for this case we find that the managers in any organization provide this needs to their employees through rewards and gifts these two should not be very big inducements but the small gifts given to anybody is well appreciated. A handwritten thank you note is normally appreciated and cherished. Everybody loves chocolate, and provision of such kind of rewards especially at the weekends and special days like Christmas and Valentine days, helps to build positive relationships between the company and the employees. Gift certificates such as birthday wishes are a morale booster to self-confidence of the employees. Some companies offer their logo merchandizes in form of t-shirts, caps, mugs, pens, jackets and computer mouse pads. In addition, motivational posters could be strategically drafted for individual recognition for job well done. In most cases, people would want to know if their work has made some difference. (John and Keith, 1997) RESULTS In recent months High Street Estate Agency have become industry leader in estate management. High Street Estate Agency expresses dedication to the client and employee as members of the family and has corporate core values in place to navigate the murky waters of the real estate industry with the unending client concerns and market instability. High Street Estate Agency provides a more diverse array of client services and real estate solutions. When High Street Estate Agency says that they offer one of the best and most competitive employee benefits packages in the industry and that they also provide performance based compensation programs, they are absolutely being completely honest with observers and employees.
First-Class Online Research Paper Writing Service
- Your research paper is written by a PhD professor
- Your requirements and targets are always met
- You are able to control the progress of your writing assignment
- You get a chance to become an excellent student!
One aspect of High Street Estate Agency employee benefits packages is the fact that they willingly cover individuals that are not often covered under other, comparable employee benefit packages. High Street Estate Agency employee benefit packages recognize the validity of common law marriages and also cover domestic partners as spouses of employees, a highly controversial issue in the employee benefit sector. During an era of financial crisis and questionable business practices when benefits packages more largely promote big business than the best interests of the consumer market as a whole, High Street Estate Agency has sadly caught a great deal of backlash for its exemplary benefits packages. High Street Estate Agency has a standard career benefits package and then they have more in depth and employee beneficial rewards programs that have been found quite questionable in recent months. Although employee rewards programs are generally more common in real estate organizations, like High Street Estate Agency, the use of employee travel incentives as a divisions of those rewards programs are most often set aside for the companies higher ranking sales personnel, it has recently been found that this is not quite the case at High Street Estate Agency, where every individual is eligible to qualify for employee rewards options that include travel incentives. The focus of High Street Estate Agency is on the importance of their employees to the overall customer satisfaction experience and they feel that in order for their customers to be happy, that they must have happy employees. This may be true, but the degree of employee satisfaction with their possible benefits packages is highly controversial. Employee rewards programs start out at a basic level and work their way up to some of the most intricate and extravagant of employee benefits packages, leaving the employee with the thought that everyone in the High Street Estate Agency family counts. One way that High Street Estate Agency may want to consider improving on their already exemplary employee benefits and rewards package/programs would be to include the option of adoption leave as well as maternity leave as a more standard option to be included in the employee benefit package. It can be understood that paternity leave should not be and is very seldom presented as a part of the employee benefits and rewards package/program, but maternity is a much greater issue, every woman of childbearing age and ability should be offered the option of maternity leave as a division of their employee benefits and rewards package. It could also be understood that adoption leave might be negotiable or possibly remain outside of the standard employee benefits and rewards package based on the fact that childbirth is much more common than adoption, but the option of including adoption leave in the standard employee benefits and rewards package should likely be considered by High Street Estate Agency as an organization. The main concern with the High Street Estate Agency employee benefits and rewards package/program is that it could be very easily misconstrued. It can be understood that the High Street Estate Agency employees are doing good work for the community while stationed at various locations for days and that after their hard work maybe they should be allowed to have a little fun or partake of some beautiful scenery, it is jut my concern that the location of these community outreach projects could be taken the wrong way. It can also be understood that High Street Estate Agency wants to show their employees tat they value their hard work and dedication to the organization, but it should likely be done in a more subtle and economically feasible fashion. High Street Estate Agency?s view is that they are furthering their community outreach efforts while showing appreciation for the dedication and hard work of their employees, I understand that and can also commend their efforts, I just believe that in these financial times, this may be a bit too large of a pill for the populace and economy to swallow. Analysis and Discussion Over the past years, High Street Estate Agency has been dogged by poor performance by the employees, this is because of the annual reviews on their work and constant pay hikes on merit. This has always been viewed as the best way of motivating the employees since time in memorial; however, this is not the case. There are other forms of keeping track of High Street Estate Agency employee?s performance other than pay hikes and annual reviews; therefore High Street Estate Agency should take note of the changing trends of maximizing and improving the quality of work done by your employees. Frequent feedback has come out clearly as a force to reckon with if we expect to maximize on the potential and output of employees. There are three forms of feedbacks that we are going to face in motivating employees; first off one is expected to use corrective feedback to better the performance of the employees. This will help in preventing unacceptable behaviors by the employees during their day to day activities (Charles 2007). Unlike yearly review where mistakes made by employees pile up to unmanageable sizes, corrective feedback will enable the supervisor to monitor the behaviors of the employees constantly. This will make the employees become self responsible and hence a reduction on the constant conflicts that usually arise within the organization. Many employees tend do substandard jobs and should this arise, supervisors are expected to give negative feedback. This feedback should be given promptly before the problem gets worse. By addressing these problems earlier, one is given a chance of turning an agonizing experience of a negative feedback into a more positive process of corrective feedback. Then it we expect a good employee to improve on his/her work after being criticized of doing a substandard job. Anyang (2003) asserts that this will go a long way in improving the performance of a given employee and hence value will be added to his/her work. Not all employees are underperformers, as a good supervisor is expected to give praise to those who do standard jobs. It is very easy to find a positive thing to say to an employee who does his/her work to perfection than finding a negative thing to say to an employee whose work is below the expected standard. By doing this, you will be giving a positive feedback. This will instill confidence to an employee and he will not need a pay hike to perfect his job. Yearly review will be unnecessary because such employees will always be on the right track whenever they undertake their duties. By constantly monitoring the performance of the employees and giving them a feedback will make a great impact on their behavior. A person who receives a positive feedback will strive to perfect his job. People who always receive negative feedbacks will always compete with those who are better than him/her so that in future, his/her feedback can be positive. Embracing frequent feedback in the organization seems to be the best option if we expect to achieve long term objective (Charles 2007). Frequent feedback will encourage competition and job perfection by those who are underperforming. The time frame for feedback is not limited, it highly depends on how well or how bad an employee ha carried out his/her duties. Negative feedback will always be given as soon as possible while positive feedback can be given on daily basis or weekly depending on the time frame the assignment should be completed. Each employee has a different reason for working, however all of them work so that we can achieve something, and this achievement always has an impact on their quality of life, their morale and motivation. The organization is expected to motivate employees by treating all of them as if they matter, note that all employees matter a lot because without them the company is as good as dead (Susan 2007). To fulfill what employees need from their work and create employee motivation, recognizing them is very important. There are many ways of recognizing company employees and as an organization we are expected to improve on company?s awarding program because this will greatly improve the productivity and loyalty of company employees. Many organizations out there are loosing good employees to other firms which offer good award schemes to their workers. Recent research by a local firm called Walker Information found that 33% of many employees in different organizations are contemplating quitting their current jobs and look for alternative employers who can motivate them through recognizing their efforts in uplifting the status of their respective companies. Paying company employees well and offering them their desirable benefits is very important, however many employees stay put in their jobs because their efforts and hard work is recognized (Davis 2004). It is important to practice peer recognition where awards are being offered, adding an item like a medallion or a certificate to the award is also important. This should be done in front of his/her peers and workmates; as a supervisor you are requested to hold a banquet or an award ceremony to honor company loyal and dedicated employees. Involving ones family is also very important, this will make an employee feel at home, employees are encouraged to evaluate the gift catalogue with members of their families so that the gifts can be enjoyed by all (Davis 2004). The management is expected to formulate a program where an employee can nominate fellow employee for an award; this will create a good feeling within the organization whereby nobody will feel short changed. The Harvard Business School has found out that recognition always leads to better performance by employees, through recognition; a performance oriented culture is created. Recognition can be used as a tangible tool to demonstrate that employee?s effort matters a lot for success (Davis 2004). Moreover, recognition not only benefits the employees but also works to the advantage of company organization; through Recognition the company long term financial objective will be achieved. Unlike annual reviews and merit pay rise, recognition is prompt and timely. It?s not certain that every employee will be there each and every year for a review and a pay rise. With recognition, award ceremonies and banquets can be held every month; this will give every employee an equal chance to show his/her dedication to work, whereas yearly reviews and pay rises on merit occur behind the scenes, away from the common employees. The resulting behavior from recognition is improved competition and hard work. Every employee will work dedicatedly knowing that his/her time of recognition is near. This will improve on company production and profit. Recognition can be delivered depending on the schedule of the organization; it depends on the number of employees who are to be recognized. A big number of employees can be recognized monthly while few employees can be recognized weekly. Compensations come in various forms and each form has its role, many organizations give compensations in form of money and insurance cover, most of these compensations are usually given company in relation to ones performance. Compensation is usually given out under right conditions, a pay for performance is usually used to motivate a person to behave as per the expectation of the organization (Eisenberg 1990). Consider a situation where an employee has been sent to represent the organization in a very important function, other players in that function will judge the entire organization as per the behavior of the representative. Misbehavior will obviously create a bad image for a company. A well behaved employee should be compensated for being a good and reliable ambassador for the company. Compensation to employees will help in keeping and attracting achievement oriented employees, non achievers will end up quitting because no compensation will ever come their way. This will help in creating a uniform staff because non performers will be discouraged while good performers will be retained. Hoffman David argues that work place accidents cause over 4000 deaths and over 3 million disabling injuries in many organizations, it is up to these organizations to look for viable ways of compensating victims of accidents and families that loose their love ones on the line of duty. When employees find out that their organization is committed and values their safety they reciprocate through hard work so that the organization can benefit maximally on their services.
Organizations are expected to demonstrate how well they are prepared to take care of their employees in case of accidents, to show this every organization is expected to formulate policies that will ensure every employee works in an environment free from harm. Every company formulates compensation policies so that its staff can develop trust on them; this is the most important role of compensation. We should not expect a person to work in dangerous environment if he/she is not covered. This employee will not give his/her best because the mentality of not being cared for by the company will be formulated in him. Another role of compensation is that it serves as a medical security, whenever an employee gets hurt when performing his duties, an employer should not expect that person to continue working until he/she feels better, the role of the organization in this case is to take the employee to hospital and cover all the medical bills. Sherman (2002) asserts that the medical bills will act as compensation and the employer will act as a security. It is important for the organization to engage into measures that show their support for the employees. For the old, compensation will act as a security after he/she retires. Organizations are expected to compensate their retirees for their unrelenting service and ensure that these people live a comfortable life after they retire. In conclusion, organizations should compensate their employees; this will always ensure that the employees behave well in their places of work. They will always feel that the company has their interest at heart and therefore work very hard to uplift the standards of the organization. Conclusion I can conclude that reward management is a key factor to success of an organization. It should be noted that as a manager, your impact on employee satisfaction is great and immeasurable; therefore the management of any firm should look for convenient, cost-conscious and appreciated ways of motivation in order to build a motivated, dynamic and committed workforce that will result in better productivity and profitability of the firm. (Armstrong, 2006) The most critical factor that resulted to poor management of many organizations is that of the inability of senior managers to provide necessary support for the accomplishment of organizations goals. It is substantiated that the behavior of many senior managers has contributed immensely to poor success of the organizations. This is explicitly witnessed in the decision making process. Senior managers have adopted behavior of self centeredness and they always think that they are the only one who makes viable decisions in relation to goals being attained hence resulting to low morale by existing workforce. (Fiddler and Atton, 1999). This has resulted to lower level managers and employees not to perform quality work because they are always not motivated when carrying out their respective duties. No matter how well the organization?s values and culture is drafted it requires the will of senior managers to maintain such motivational values and cultures. The senior managers can change the attitude of their employees if only they can lead by example which will lead to good motivation and thus successful attainment of set objectives. Human resource is the most vital asset in any organization and senior managers have to concentrate their management efforts in their staff development in order to boost their morale and thus increase in productivity. (Fiddler and Atton, 1999) Employees? satisfaction strategies should be formulated in an organization in order to ensure smooth running of the firm. It is the key to the economic success of any company. Research has shown that a satisfied employee does his job well and in return the company?s performance is greatly improved. Employer and employee relations are very important in ensuring that a company realizes its mission. In fact, it has been researched and found out satisfied employees usually translate to satisfied customers and this leads to improved productivity within the organization, hence, with proper policies , strategies administrative skills, employee relations managers can create good relations among employees. This strategy is suited to business companies. (Bjbrkman, and Fey, 2001) Therefore for attainment of organizational effectiveness, human resource is the most important asset that must be paid attention by the management. Human resource has the responsibility to coordinate all the activities within the organization and they have to ensure efficiency in productivity of the organization. It is obvious that all firms in the different sectors of economy aim to gain competitive edge over their rivals by practicing Strategic Human resource Management(Armstrong, 2006) Recommendations For motivation systems to be effective and to improve the performance of employees, then managers need to put in place meaningful measures and realistic ones. This is because when the measures are not attainable then the employees? performance will not improve. Managers have to be sure that that the measures are very realistic thus helps employees to strive to achieve them. But once they realize that the laid down measures for them to get the reward are just not attainable and realistic, then it just doesn?t become effective. Another aspect is that the performers or employees always need to see that that the reward opportunities in the organization are directly linked to the effort that they make. When the rewards are directly linked to the effort then the performance is bound to improve. (Maundy, 2001) My recommendation is that the present High Street Estate Agency employee benefits and rewards package/programs be altered to more adequately adjust to the current economic climate and the human resource objectives of the organization. High Street Estate Agency?s objective is to stabilize and minimize employee turnover by ensuring that their employees understand the value that they add to the organization, but this can be done in several different, and at times, less expensive ways. The current employee benefits and rewards package/programs are reaching their performance targets and human resource objectives but they are far too costly in their current condition, they should be altered to suit the current economic climate.