The fifth area of the total reward strategy involves culture. Culture refers to the attitudes and behaviors that collectively influence how an individual behaves. Cultural change is difficult because it means of changing attitudes and fundamental beliefs of a society or organization. Culture is an element that can influence the total rewards model. The work environment is another factor of that can influence the effectiveness of the total rewards program. These factors influence the effectiveness of the total rewards model and benefit programs by influencing employee perceptions.
These five areas of the total rewards program are consistent across many companies. These five elements have become common terms in the provision of compensation and benefits packages. They are often unchanged in their order. Total rewards programs often list specific company benefits in these five categories. This program has become one of the most common in many areas. Case studies are the most common type of study that is conducted on the effectiveness of these programs. However, in the development of these programs it is important to understand which benefits will be the most popular with the largest number of employees. It is difficult to please everyone, but human resources departments can learn of much about the types of elements to include in their programs using the survey methodologies. This is the theoretical foundation behind the proposed research study.
Motivation is another element that must be included in a discussion of the total rewards model. Motivation falls into two categories, intrinsic and extrinsic. Intrinsic motivation includes an employee's sense of achievement, and respect for themselves as a person. Intrinsic motivation results in higher levels of performance than extrinsic motivation. Extrinsic motivation refers to motivation that is tangible, such as pay and benefits. This type of motivation was once thought to be the most important, but is now recognized as the least important of the two types of motivation (Giancola, 2007).
The pay and benefits package offered by Constellation Energy (2011) is an excellent example of how the total rewards program can be put to work. The pay and benefits package they offer is divided into the five basic categories defined by the total rewards model. The Georgia State Government (2011) has also implemented the total rewards approach to pay and benefits, directly following the five categories contained in the model. Many companies now see the benefits of the total rewards program and institute it as their primary model for employee benefits and pay.
Much of the academic information concerning the success or failure of total rewards packages of uses a case study strategy. One of the most pivotal studies regarding total rewards compared companies in new and old economies (Zingheim & Schuster, 2000). This was one of the first studies to determine that people work for more than just rewards and pay. The total rewards program was found to be one of the most successful in creating a synergy between the workforce and organizational goals. The authors of this study went on to form one of the first and largest consulting companies specializing in the development of total rewards programs. Their research dominates academic studies on the success of total rewards programs.
Fay & Thompson (2001) were some of the first to explore the contextual determinants of reward system success. This study collected the data using an exploratory research method of what constituted successful and unsuccessful rewards systems. The reward systems explored included modified base pay, short- and long-term incentives, benefits, prerequisites and lifestyle rewards. Success was measured based on seven different factors and ten different conditions. Follow up telephone calls provided the researcher with greater detail in regards to the responses. This study contributed to the development of a means of analysis that can be used to determine the success of the program. It determined that a common set of criteria could be used to judge the success of different programs. This research supports standardization of criteria to measure the success or failure of total rewards programs that will be examined in the proposed research study.
Danish & Usman, (2010) found a distinct connection between the employee commitment and organizational performance. They also found that reward and recognition programs were the most important factors in maintaining employee levels of high self-esteem and passion about their job. Carlson (2005) found that the approximately 64% of workers feel a sense of strong commitment to their organization. This was up from 56% in 2002. Pay and benefits were not...
In a nutshell, the most common training program for plastic surgeons takes up about seven years following medical school and can be done throughout individual studying and medical exams as well as throughout attending medical conventions and symposiums. Bibliography Human Resource Guide to the Internet, 1998-2001, Job Analysis: Overview, http://www.hr-guide.com/data/G000.htm, last accessed on February 22, 2007 The official web site of the Institute for Plastic Surgery of the Southern Illinois University School of
Conversely when there is dissension it forces more activity and effort, and risk onto a single member. This actually increases the risk of change not being as positive as it possibly could be. Another key lesson is accentuating the positive aspects of change and visualizing oneself at the end of the change, successful. This supports the concepts of activity and productivity being more focused on positive change than trying to
5. How have the trade unions in the industry responded to the changes in employment relations in the industry? Since 1991, both Labor and Liberal-National governments have encouraged enterprise bargaining, marking a major shift away from a more centralized approach to employment relations. On the other hand, there is still an aspect of external regulation in the automotive sector and more generally, across the industrial relations system. The AIRC, a tribunal
Business -- Human Resources Personal Financial Advising Personal financial advisors review the financial needs of people and help them with investments, tax laws, and insurance decisions. Advisors help their clients recognize and plan for both long-range and short-range objectives. Advisors help clients plan for retirement, education expenses, and general investment decisions. Many also supply tax advice or sell insurance. Even though most planners offer advice on a wide assortment of topics, some
HUMAN RESOURCE DEVELOPMENT STRATEGIES IN THE GHANA WATER COMPANY. Human resources refer to the knowledge, skills, creative abilities, talents, aptitude, values and beliefs of an organization's workforce. The more important aspects of human resources are aptitude, values, attitudes and beliefs. But, in a given situation, if these vital aspects remain same, the other aspects of human resources like knowledge, skills, creative abilities and talents play an important role in deciding
Creating Your Dream Job / Human Resource Consultant Creating My Dream Job: Human Resource Consultant My dream job revolves around Human resource, the position of a Human resource consultant of my future company, or an existing corporation. Job Summary As the HR Consultant, I will provide a high level support to the corporation across broad ranging human resource consultancy services (HRCU, 2010). In addition, I will take part in stages of recruitment and some
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