¶ … Human Resources, the main issue here is the customization of rewards related to work achievements in small organizations. We will also assess the relation our main question has with previous major topic regarding the intrinsic and extrinsic shift of business needs in times of recession. Some focus will also be given on the proposed methods which can be used to give assists in the customization of rewards as well as some reflection on other related issues. Finally the paper will conclude all the necessary details.
Let's assess some of the main issues regarding rewards management in small organizations. The main question here is that what should be the basis for rewarding any employee. Another important thing to note is the determining of categories which every employee has within a small organization, this is relatively different from the general categories the employees have in a big firm. Another important question here is regarding the age and experience of employees and the amount of perks any personnel can have regarding its experience.
Main Question
The issue of rewards management is very important since in almost every small firm there exist an employee force which asks for work related benefits related to their performances, therefore it is very important here to manage and deliver according to the needs of the employees in a way which satisfies their demands. This is very crucial for the success of the business as well since a more dedicated workforce can deliver better results as compared to a dull workforce. "Rewards are an excellent motivator for any employee" (Berg 1972).
Relation to previous research
The topic of rewards management relates greatly to the intrinsic and extrinsic needs of any firm either small or large in times of recession. The factor of a firm's profit level greatly decides either to grant additional benefits to the workforce or not. "Profits are dependent on a firm's targets" (Budhwar 2001). For small businesses, the time of economic recession brings great hardships and many are even known to close down resulting in huge rises in the level of unemployment throughout any nation or state. "Economic recession affects common employees the most" (Lawler III 2003).
In terms of basic needs, any small firm would do just about anything in order to survive in tough economic times. "Survival is the first priority for firms in recession times" (Budhwar 2004). "Recession brings opportunities as well" (Sims 2002). In any recession the demand of the products go low because of the decrement in either the purchase power of common people or power of doing business with the firm therefore it becomes more and more evident that cuts are needed to be made in the supply portion to the customers. "Rewards are often tend to be in cash form" (Cooke 2003). In these circumstances it is almost impossible to give any sort of rewards to the employees who in many cases sit idle and do nothing. "Rewards should be made attractive" (Burke 2005). "Additional job benefits are also good as rewards" (Schuler 2003).
Therefore most of the smaller firms in dire economic situations go into their survival mode and focus on savings rather than investing more. "Recession is tougher on small firms" (Debrah 2003). "Recession affects little businesses greatly" (Tayeb 2005). "Recession often kills the small businesses" (Briscoe 2004). "Small businesses suffer most in recession" (Gratton 1999). "Small businesses should adopt to survival tactics as soon as any recession event occurs" (McGoldrick 2002). The intrinsic needs focus on the basic things any firm needs such as basic utilities and the extrinsic needs may be taken as the additional staffing which any firm may require in time periods of business boom. "Staffing should be done based on experience" (Kamoche 2001). "Staffing should be done based on knowledge" (Mayrhofer 2000). "New staff should be hired according to their educational background" (Brewster 2004).
The portion of rewards management can be related both to the intrinsic as well as the extrinsic needs of any firm and since recession greatly impacts both of the needs therefore it also impacts the system of rewards management. "Intrinsic needs deals with internal matters" (Gilley 1989). "Extrinsic needs often deal with the non-essential requirements of a firm" (Zhu 2005).
Proposed methods
There are many methods which any small firm might choose regarding the awarding of rewards related to work. For any firm to be successful in its business it must adapt to rapid changes that exist around itself as well as to satisfy...
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