Rewarding Relation and Employee Motivation Order Instructions: I need to be extent the below essay outline and I will send you the example to have an ideas of it
1.4 Strategy
The discussion between union and management is to align the primary aims for fastcats. They hold many meetings to find a suitable and related objective to the strategy. Also, aligning the compensation for the new rewarding system to make both sides win equally.
1.4.1 Objectives
Fastcat has aligned their objective based on their strategy, so the discussed hold between two parties was to clarify what the objective desires express through of structures terms. Management wants to influence the outcome and cover the lost of the past two years. Therefore, Union is investigated how their employee feel involve in word place. Both sides want the new system to benefit all employees and make the company more revenue.
The following will be the objective caritas for the fastcat:
• Maintain business strategy:
The important thing is to support Fastcat strategy which the both management and union agree on that.
• Increase employee moral through reward
There are major changes in the internal culture since the New CEO take place. May argument that, the morale has substantially decreased. It was agreed by both union and management improve and specific accomplishment need for the new reward system. Moreover, they had common interesting to built the trust that can be achieved throughout the whole business to improve relations between employees.
The employees have surface knowledge about the structure of the organization will be hierarchy opposite the aims of the company. Thus, they concerning about teamwork in a hierarchical stricter this argument difficult to communicate and collaborate between different departments.
Both the management and union could not come to the agreement on the specific structural direction required to achieve the best results favourable for the business performance and the relation between employees within FastCat. Hence, the union will be particularly careful because management chose the hierarchy this argument suggest that union insistence to put creativity in rewarding system. At the same time, the management agrees because this objective will support structure and employee.
• Increase competitive advantage
The new culture of FastCat has a bureaucratic inclination. It restrains the employees and prevents them from working in a traditional manner. As a result, employees are thinking about unstable future of the company, may argument that, staffs are not very flexible about innovations. The unions and management claimed market competitiveness inside the organization by putting creativity on of the objective of the rewarding system. Also, they came to the agreement that it is vital to support the employees’ enthusiasm when they want to be creative and promote the favourable environment that leads to innovation.
• Increase the intrinsic
1.4.2 Alignment
• Support career Growth
• Jobs Evaluated on compensable factors
• Emphasis Calibration
1.4.3 Competitive position
• Market job value determines consideration pay gross opportunity to be above the market pay.
• Learning and Development
1.4.4 Performance
• Team success reward
• Reward for innovation
• Customer focus
1.4.5 Execution
• Guarantee Job security for al current employees
• Openness and trust
• Clear Structure
Rewarding Relation and Employee Motivation Sample Answer
Rewarding Relation
1.4 Strategy
The discussion between union and management is to align the primary aims for Fastcat’s. They hold many meetings to find a suitable and related objective to the strategy as well as aligning the compensation for the new rewarding system to make both sides win equally.
1.4.1 Objectives
Fastcat has aligned their objective based on their strategy, so the discussed hold between two parties was to clarify what the objective desires express through of structures terms. Management wants to influence the outcome and cover the cost of the past two years. Therefore, Union is investigated how their employee feels involved in work place. Both sides want the new system to benefit all employees and make the company more revenue.
The following will be the objective caritas for the fastcat:
- Maintain business strategy:
The important thing is to support Fastcat strategy which the both management and union agree on that.
- Increase employee moral through reward
There are major changes in the internal culture since the New CEO take place. May argument that, the morale has substantially decreased. It was agreed by both union and management improve and specific accomplishment need for the new reward system. Moreover, they had common interesting to built the trust that can be achieved throughout the whole business to improve relations between employees.
The employees have surface knowledge about the structure of the organization will be hierarchy opposite the aims of the company. Thus, they concerning about teamwork in a hierarchical stricter this argument difficult to communicate and collaborate between different departments.
Both the management and union could not come to the agreement on the specific structural direction required to achieve the best results favourable for the business performance and the relation between employees within FastCat. Hence, the union will be particularly careful because management chose the hierarchy this argument suggest that union insistence to put creativity in rewarding system. At the same time, the management agrees because this objective will support structure and employee.
- Increase competitive advantage
The new culture of FastCat has a bureaucratic inclination. It restrains the employees and prevents them from working in a traditional manner. As a result, employees are thinking about unstable future of the company, may argument that, staffs are not very flexible about innovations. The unions and management claimed market competitiveness inside the organization by putting creativity on of the objective of the rewarding system. In addition, they came to the agreement that it is vital to support the employees’ enthusiasm when they want to be creative and promote the favorable environment that leads to innovation.
- Increase the intrinsic
The management and the union came to the agreement that it was prudent to provide more intrinsic rewards to increase the level of employee satisfaction. The level the management of Fastcat target is high-range. This will ensure that employees remain motivated and committed to the objectives of Fastcat. The four intrinsic rewards that I felt were very important to provide include. Sense of choice whereby employees are made to feel free to make decisions concerning the ways they wanted to accomplish their work. The second is the sense of meaningless, where the reward will involve the importance of benefits of the purpose of trying to fulfill the duties assigned. The last two are the sense of progress and competence. Employees must have a feeling that they are performing to the standards that exceeds their personal standards. The employees as well require encouragement and motivation for the contributions they are making to the organization.
1.4.2 Alignment
The parties welcomed the idea of alignment as they reached consensus on three points they deemed were essential for the company. The points would help the company accrue some benefits from the reward system. These points included:
- Support career Growth
Supporting growth of career of some of the talents members of the staffs was going to help FastCat achieve its goals, aims, and objectives. Through career support, these members would get more skills and knowledge that would be of great value to the development and prosperity of the organization. To ensure that the opportunity remain competitive, both the existing and the potential staffs will have to showcase their creativity and innovative skills and prowess.
- Jobs Evaluated on compensable factors
The reason for evaluating jobs based on compensable factors is to provide an opportunity for the employees to test and assess their own abilities. This knowledge will give these employees a basis upon which to seek for opportunities such as promotion. In addition, the method is appropriate, as it will increase new job within the current structure that will be of value to the organization in future. Members engaged in a constructive debate on these compensable factors in the context of job evaluate but not conclusion was reached. Using this technique as well enables employees to identify, skills, knowledge and experiences required to develop, progress or get a promotion.
Emphasis collaboration
No member had contrary views or opinion on the need to collaborate, the members agreed that indeed this was key success factor of Fastcat . The company was in deed of collaboration between its employees, partners, departments, and even job roles. The benefit of collaboration was that it barriers were going to be easily removed and this would promote free communication flow. Therefore, this would lead to increased motivation and moral as well as involvement in staffs’ performance.
1.4.3 Competitive position
Maintaining competitive position of the company was very important point of discussion. Therefore, both the union and the management deliberated on their current market position in length. Some of the issues discussed include, desired place in the market, future goals and priorities that reward system can over and the strategies to help them achieve the position desired.
The members placed more emphasis on the market job value – how it determines consideration pay gross opportunity to exceed market pay
They thought it would be beneficial to bring its costs to same level as market share rate since management strategy aimed to expand Fastcat for new market. However, the view of the union was that it could be appropriate if employees were given the opportunities to earn above this level in case they exceeded the necessary requirements. This decision would help make employees remain in the company. Furthermore, it is a motivation strategy even though word-of-mouth that would improve the reputation of Fastcat.
- Learning and Development
The issue of learning and development was so critical, hence was debated at length. For this to be achieved, reward system of Fastcat was put under scrutiny to guide in reaching a decision. For that matter, in case the reward system placed more weight on hierarchy then it meant that there would be levels between employees ability that would made balance in the hierarchy as management view. However, the view of the union was that the rights of employees would be granted so that that it is developed in lower standard areas in their performance to enable them to have the feeling of being part of the company. The management furthermore, believes that following this approach, it will make employees more loyal.
1.4.4 Performance
Both union and management deliberated on the intention of the company to reward performance. The discussion included:
- Team success reward
The members unanimously said that project needs teams to be completed in time. Based on this, the decision was made to focus on teams. Rewarding teams would help trigger positive performance. Teams are also effective when the environment is difficult and the structure is hierarchical hence, it contributes to highly standard competition.
- Reward for innovation
Research has indicated that innovation is very important to retain and attract new customers. The members agreed that Fastcat has the potential to remain competitive because of its good innovation potential. The staffs are motivated and therefore, are eligible for the reward. All departments stand a chance to get rewards for their success and positive contribution. Creativity is therefore the overriding factor. The management as well in unison agreed that indeed creative innovation in rewarding system is to help increase the performance level as well as competitive moral.
- Customer focus
Customers are important for any company success. Companies reap profits because of the customers they get. Fastcat management aims at creating cordial relationship with the customers by ensuring that they satisfy their needs. In addition, the company will also encourage all the departments to focus on customers. Employees that care more about customers will as well be compensated to feel encouraged. The importance of job role will also be other areas of focus.
1.4.5 Execution
The strategies or the stages should be effective to ensure that Fastcat is able to successfully apply the new system of reward. These were the outcomes:
- Guarantee Job security for all current employees
- Openness and trust
Openness and trust allows people to be at liberty to express their views. It is important that the company culture change to ensure that employees participate in the decision-making. Changing from top-down to down-top management will help increase the level of trust and openness. Implementing regular meetings or open discussion will make employees feel a sense of belonging and understanding.
- More voice for employees
Union felt that it was prudent for employees to have more voice in the process of decision-making that relates to reward system. The management agreed it was indeed important to do so to enable them increase openness and trust between various parties
- Clear structure
Decision-making and justification in terms of reward and pay will be made easier if the structure is clear and simple.
1.5 Strategic Map
The table below shows Fastcat’s strategy to use for the new reward system. The system will be incorporated in Fastcat’s business objectives.
| Important ààà | ||||||||
| Dimension | 7 | 6 | 5 | 4 | 3 | 2 | 1 | |
| Objectives | ü Support Business strategy
ü Attract and Retain employees ü Change Current Internal Culture ü Increase potential for innovation |
|||||||
| Alignment | ü Support Career Growth
ü Jobs Evaluated on compensable factors ü Emphasise Calibration |
|||||||
| Competitive Position | ü Market job value determines consideration pay gross opportunity to be above the market pay.
ü Learning and development |
|||||||
| Performance | ü Team success reward
ü Reward for innovation ü Customer focus |
|||||||
| Execution | ü Openness and trust
ü More voice for the employees ü Clear structure |
|||||||
Rewarding Relation and Employee Motivation References
Holston, C., & Kleiner, B. (2015). Excellence In Reward Systems. Franklin Business & Law Journal, 2015(3), 29-40.
Thomas, K. (2009). The Four Intrinsic Rewards that Drive Employee Engagement. Retrieved from: http://iveybusinessjournal.com/publication/the-four-intrinsic-rewards-that-drive- employee-engagement/
