Reward strategy in a HRM context: Its role in motivating and retaining staff

Type :

Presentation

Pages :

11 pages

Format :

.doc

Published date :

01/15/2009

Category :

Business & market

Sub category :

Human resources

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Summary :

Introduction.
Motivation.
1. Definition.
2. Theories of motivation.
3. Maslow's hierarchy of needs.
4. Alderfer's ERG theory.
5. McGregor's Theory X, Theory Y.
6. McCelland's Acquired Needs theory.
7. Herzberg's dual-factors theory.
8. Vroom's Expectancy theory.
9. Adam's Equity theory.
Reward Management.
1. Definition.
2. Different kinds of rewards tools: Pay, incentives and fringe benefits.
3. Design of the reward process.
4. Characteristics of a nomination.
5. Process of nomination.
Criticism through case studies.
1. Forestry commission.
2. Norlife.
3. Mobile phone O2 and other companies.
Conclusion.
Bibliography.
Appendix.

Abstract

"Human Resource Management (hrm) is both an academic theory and a business practice that addresses the theoretical and practical techniques of managing a workforce." (Cameron & Quinn, 1999). hrm is part of an organization which recruits and trains workforce in order to achieve the company's objectives. One of the main principles of hrm is based on the assumption that employees are individuals with different goals, wants and needs. Therefore hrm deals with relationships between management and workers and the recommended behaviour of workers in companies achieving objectives. Becker and Gerhart (1996) suggest that the human resource system can be a unique source of competitive advantage, especially when its components have a high degree of internal and external fit. Human Resource Management has for goal to help a company to meet strategic objectives by attracting, managing, maintaining people and human capital and culture for business success.