Introduction
Some people think, to measure a company success, is base on the profit that this company earns. But nowadays, this attitude should be changed due to the market changing. To compare with before, profit is a important factor for a company, but it is not the most important. For a company staff has become the stanchion to decide company life. Under this background, motivation and reward system has been used for the company, but no two companies using the same motivation. Motivation and reward system help staff work more efficiency, also, the system can attractive more key staff, who have got high degrees or prefect skills. Motivation and reward system has become two important systems for company operation management. This report focus on these two systems, use two examples from mobile phone industry, to compare the
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Offer welfare treatment
Motorola changed welfare every year, but before they make decisions, they will research a lot from the market, and when they design new welfare, they will consider the competition power in internal industry competition. Also, free lunch, buses, and houses have motivated staff to work harder.
2. Establish equity evaluation
When Motorola design the reward system, is will award people according to their contributions, staff have opportunities to increase their profit level to get higher salary. In Motorola, there has a scorecard, staff to plan their goal base on scorecard. Individual evaluation is for each month, department evaluation once a year. Base on the result, to promote staff get higher position and higher salary.
3. Open communication
All the staff has opportunities to attend the supervisors meeting, and also can have idea on company website. On the other hand, supervisor will deal the problem between the staff or other aspect, in order to keep a good relationship between staff and a good environment.
4. Offer development
Intrinsic rewards are not patterned financial rewards are associated with the requirement for employees to achieve greater success , recognition, a sense of responsibility , influence and development of other individuals. The requirements of the above is a strong motivator and contrast to the one . Each employee has different needs and desires . Rate a tremendous appreciation and gratitude is enough to inspire us all because of the appreciation of the value of giving someone touches his soul and give vigor to keep trying. Appreciate or appreciated regardless of age or where only a thousand meanings. Skinner ( 1969 ) reveals that the reward is a reinforcer . Reinforcing Here the meaning is interrelated aspects to the values that influence an individual's needs . However , Wether states that reward is what an individual received in return for a given job . It is the responsibility of an organization or institution to provide compensation and benefits to employees or students commensurate with a workforce that has been poured . The importance of rewards and benefits are indeed undeniable. If the employee or student is not satisfied with the compensation and benefits provided , then this will result in the existence of such problems as absenteeism , job rotation rate employing high , declining productivity and not serious in doing work .
The author believes that goals and desires require an individual to be motivated to move from one state of being to the next. This motivation encompasses the emotional, cognitive, social, and biological drives that trigger behavior (Maslow, 1943). Accordingly, the word motivation befalls the frequently used description of why an individual achieves a goal, and the term motivation originates from the Latin root movere, which means “to move.” Therefore, motivation stands as the state that “moves” an individual to act in a particular way. For instance, when one is lying on the beach on a warm summer day and begins to feel hot, the physical need to cool down might cause one to stand up, go to the water for a dip. If the heat remains too over-bearing,
Goals and desires require an individual to be motivated to move from one state of being to the next. This motivation encompasses the emotional, cognitive, social, and biological drives that trigger behavior. Accordingly, the word motivation befalls the frequently used description of why an individual achieves a goal, and the word motivation comes from the Latin word movere, which means “to move.” Therefore, motivation stands as the state that “moves” an individual to behave in certain ways. For example, when a person is relaxing on the beach on a warm summer day and begins to feel hot, the physical need to cool down might cause a person to stand up, go to the water for a dip. If the heat is great enough, the person might even leave the beach
The company motivates employees by providing “reward” and “engagement”. Reward is evaluating the employees properly and giving reasonable salary, and are divided into three parts:
Extrinsic and Intrinsic Rewards The link between employee motivation and the rewards they receive from their employers is vital to maintaining a loyal, reliable and steady workforce. The two categories of rewards, also referred to as motivators, are intrinsic and extrinsic. “The primary difference between the two types of motivators are extrinsic factors that arise from outside the body of the employee, where as intrinsic elements arise from within the employee.” (Cherry, About.com)
This author can remember when his former company offered profit sharing for achieving production and it was motivation to do better job. Smart companies recognize that motivated employees are productive employees, which inspires them to create tactics to keep their workforces gratified and inspired. Therefore, it is wise to offer Incentive plans for performance. With that said there are several incentive plans that can be utilized by companies such as “team and group incentives”, “piecework plans”, “stock options”, “non-tangible and recognition based awards”, “employee stock ownership” ,“merit pay”, and “profit sharing plans” (Dessler, 2011).
The foundation for effective job performance and compensation system can be traced to effective job analysis process. Fundamentally, a job analysis should consist of a thorough examination of the job 's duties and knowledge, skills, abilities, and qualities that are required in order to be successful in a specific position, upon which appropriate rewards or compensation can be determined. For many perspectives, jobs are usually made up of requirements and rewards, where rewards may be regarded as a major recruitment strategy for motivating potential employees in order to influence them to stay the organization for a longer period as well as enhance their performance. The most common or basic form of rewards which attracts employees is extrinsic
Incentive reward engagement offers a win-win situation for the employees and the company. Kelleher believes that incentive is a form of recognition and builds engagement through company’s and employee’s obligations towards a common goal (2014). The company has a “Growth Incentive Scheme” for the production workers. Special monetary incentives are provided should the workers achieve the monthly output target. Through the rewards, employees feel motivated towards their work and thus, contribute towards the company’s
It is important for manager to understand that what motivates the individuals. There are different kinds of motivation theories which reveal that individuals are motivated by different factors. For example there is extrinsic motivation and intrinsic motivation (Amabile, 1993). Extrinsic motivation refers to the motivation that one has for the extrinsic rewards such as pay, status, power, etc. Then there are intrinsic motivating factors such as the chance to exercise one’s skills, the opportunity to learn and personal development. Research suggests that various factors motivate employees in a different degree depending on their nature. It would therefore be important for the manager to understand that what are the motivating factors for individual employees and then provide them incentives accordingly so that they can work in a more productive fashion. Once the individuals work with greater excitement and vigour it would automatically lead to better performance.
This report is mainly based on the case study Emerging Nokia, using the frameworks and concepts we have learned to analyze the case. This report is divided into 5 parts, first is the summary of the case, the second part is about the competition Nokia faced, the third part is the factors that contributed to the success of Nokia, then the challenges Nokia may face in China and the recommendations to them and the last part is the conclusion of the report.
Employee compensation and reward systems have undergone a couple of paradigm shifts since inception. Reward systems were traditionally compensation based and focused on the individual or the position (Beam 1995). After a recession in the early 1980's, employers turned to performance based models in an attempt to save money while still rewarding top performers (Applebaum & Shapiro, 1992). Today, the most successful organizations are using a total reward model, a hybrid of the performance based model combined with strategic human resource management planning to create reward systems that both benefit the employee and help organizations realize their operational goals (Chen & Hsieh, 2006).
By the end of 2003, Nokia was the clear market leader in the mobile phone industry in terms of sales and profitability. It was ahead of giant companies like Motorola, Ericsson, Siemens, Samsung, and other worthy competitors. Since the early 1990s, Nokia's Strategic Intent was to build distinctive competency in product innovation, rapid response, and global brand management. Its strategic intent required rapid growth in the core businesses of mobile phones and telecommunications networks. This goal was achieved by Nokia's development of new products and expansion into new markets. In order to become the global leader as it is today, the company had overcome numerous challenges and obstacles over the last decade.
This study examines the performance management and reward strategy used in Unilever to retain and motivate their employees for a long term. Both intrinsic and extrinsic rewards are given to employees to make them loyal and to utilize their skills to further improve the performance of Unilever. Almost all the factors of reward strategies and performance management are discussed and evaluated accordingly. Performance of the employees might be get affected if the rewards are not given to employees, so to motivate them furthermore the Maslow Hierarchy of need theory is also recommended to Unilever to make their employees loyal.
The function of manager is to complete a task on time. The task or project may be very simple or vastly complex and technically challenging. Where, a manager must find ways to motivate the people working on the task. In order to understand how to motivate the people, a manager must also understand the difference between the management and the leadership. An understanding of the motivation methods, including the traditional theories from the early to mid 21st century to more modern theories of motivation, is ...
... smartphone. The company has improved increasingly because the combination with the Nokia company. Away to insure that the company can stay on top is to increase the innovations to their devices. Nokia was once a mobile telephone powerhouse, but has struggled since smartphones hit the market. As part of Microsoft, it will have better footing to compete there, however Ballmer noted that Nokia remains a leader in non-smart with phones sold in developing regions. The company’s ultimate goal is growth for the platform. After years trying to regain relevance in the mobile industry, Microsoft’s Windows Phone operating system narrowly nudged ahead of theird-place BlackBerry in global smartphone shipments, now sitting somewhere in the neighborhood of five percent globally. In the end Microsoft has accomplished their goal as a company and plans to stay there for a while.