Remuneration and Reward System

Remuneration and Reward System

Rewards commune the value that organizations place on their employees. To convey the proper messages, remuneration objectives and strategies should be aligned with the overall business strategy of the organization. Knowing alignment will enable organizations to deliver the right type of rewards to the right people, at the right time, and for the right reasons. The best way the organization can deliver the correct reward, is to implement a total reward system together with a total pay system. Effective total pay system covers base pay, skills and competency pay, variable performance pay, recognition, and benefits. Total reward system cover investment in people, development and training, performance management, and career management. Therefore, to motivate and retain employees, and to improve organization’s profitability, a right mix of total pay and total rewards should be made available to employees as employees’ needs differ.

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EMPLOYEE MOTIVATION AND PRODUCTIVITY IN A UNIVERSITY LIBRARY SYSTEM

EMPLOYEE MOTIVATION AND PRODUCTIVITY IN A UNIVERSITY LIBRARY SYSTEM

Employee motivation is central to productivity and efficient delivery of service. The study examines some of the issues that affect motivation and productivity in Ghana's University of Ghana Library System. Low staff motivational levels adversely affect productivity in a library. Salary and remuneration remain a strong motivational force among library staff, though professionals are more satisfied with their salary than para-professionals. Para-professionals are not only dissatisfied with their salary but also perceive are not paid equitably with respect to their jobs and responsibilities. The library staff do not just expect to be rewarded for their performance, but also appreciate and value the nature of reward and its distribution system as well. Though employees agitate for salary increases, there are other variables for the employer to motivate his workers.

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Performance Based Remuneration systems on Organization performance

Performance Based Remuneration systems on Organization performance

This book is about the impact of Performance Based Remuneration Systems on organization performance. Performance remuneration systems are increasingly being implemented by organizations to remain competitive; and one ways to ensure that they remain on the competitive edge is to make sure that any increase in remuneration is supported by improved performance. It majorly focuses on the contribution of performance based remuneration systems to motivation of employees in organizations; the relationship between performance based remuneration systems and employee retention; and the relationship between performances based remuneration systems and employee commitment to the organization. Motivating of employees in order to satisfy their needs simultaneously encourage Butaleja District gaining high work performance and achievement of organizational goals; retaining of its staff for longer periods and improving on the levels of interest and commitment among the employees.

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Work remuneration and employees’ motivation

Work remuneration and employees’ motivation

In the field of development of modern economy, the problems linked with human resources, especially the issues relating to work remuneration and motivation, have always been and remain topical both for governments and organisations. In the context of the factors affecting the external and internal organization environment, work remuneration and motivation is understood rather narrowly and insufficiently straight. Aim of the study - to analyse work remuneration and motivation of employees in business sector (in case of Lithuanian business sector). In the first part of study theoretical background of motivation and remuneration for work (including overtime work and pay, wage differentiation, factors affecting wage) is explained. In the second part complex research of work remuneration and motivation in Lithuanian business sector is clarified and structured. The study has been prepared on the basis of research literature, articles, material of international conferences, the data provided by statistics authorities of the Baltic States and the European Union through their analysis and systematisation.

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The relationship between personality types and reward preferences

The relationship between personality types and reward preferences

The study confirmed that individuals with certain personality types and personality preferences, have different preferences for certain reward categories. There was a stronger relationship between reward preferences and personality preferences than for reward preferences and personality types. Preferences for reward categories by different demographic groups were confirmed. The significant difference in reward preferences between Black and White respondents in particular was noteworthy, with Black respondents indicating significantly higher mean scores for all reward categories than White respondents. Finally, a total rewards framework informed by the most prominent preferences for reward categories, was designed.

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Fair Remuneration and Corporate Social Responsibility

Fair Remuneration and Corporate Social Responsibility

This book deals with the right to work, focusing on the right to an adequate remuneration. Starting from Kant's interpretation of human dignity, it examines the international legal framework and merges the theoretical interpretation with the practical application to clarify the most common concepts of remuneration. A review of existing literature on CSR and the evaluation of several Codes of Conduct provides an insight into a current state of interaction between MNEs and human rights.

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Reward Management Policy

Reward Management Policy

Reward systems are one of the human resource management policy areas. Academicians, policy makers and corporate leaders recognize the difficulty of evaluating the use of reward systems. The profitability of business organizations and the productivity of employees are directly or indirectly related to the reward and benefits the company provides. This depicts that there is a direct or indirect relationship between reward and/or benefit and employees' motivation and productivity; which in turn has immediate effect on a company's business success. However, irregular trends are followed by multiple organizations no matter there are proclamations with regard to this issue. In this book, the Researcher and his Assistant have tried to put the impact of Reward Management Policy on the Employees' Motivation at Ethiopian Telecommunications Corporation- Western Region,Ethiopia

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Global Financial Crisis, Directors’ Remuneration and Performance

Global Financial Crisis, Directors’ Remuneration and Performance

A substantial and influential literature demonstrates conflicting evidence that director remuneration is either positively or negatively correlated with corporate performance. In some instances, studies suggested to have no link between director remuneration and corporate performance. Research interest in this topic has been further fuelled with the collapse of many multinational banks during the recent global financial crisis. In this research, a re-examination of the link between director remuneration and firm performance in the big four Australian banks is being conducted. We used both financial data and non-financial data. Financial data is retrieved from databases such as Aspect Fin Analysis and banks’ annual report and non-financial data retrieved from various newspaper and other available publications. Overall this we found there is no relationship between director remuneration and firm performance in the big four banks for the period pre, during or post Global Financial Crisis. These findings also hold true with a lag and lead years and goes on to suggest that the relationship between the director remuneration and performance dosen't forge a link in the long term as well.

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Determination of Employees' Pay Levels in the Nigerian Banking Sector

Determination of Employees' Pay Levels in the Nigerian Banking Sector

Reward system is a vital subsystem in personnel administration. Employees are employed in organization in order to contribute to the attainment of organizational goals. These employees expect adequate compensation and rewards for their contributions. The process of effectively managing any organization’s reward system is undoubtedly one of the most complex and problematic issues in Human resources management. Given the whole ambits of Human resource management, hardly is any issue more important, relevant and crucial to an employee than what he receives in exchange for his labour and services to the organization. Perhaps the most significant policy decisions that have to be made by those concerned with reward management are about levels of pay. But what determines an employees pay in the banking sector is unknown.

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