Employee Behavior For Intrinsic And Extrinsic Rewards - HG Metals Case Study

Current Management Situation/Problem

Discuss about the Employee Behavior for Intrinsic and Extrinsic.

HG Metals is the steel manufacturing company working in Australia from a long time and it is manufacturing a large variety of steel products and delivering them throughout the world. Mr. Ching Chiat Kwong is the Chairman and MR. Foo Sev Liang is the executive director of the HG Metals. At present, the growth of the company is increasing more and more due to which a large number of people or we can say a large number of companies are getting connected to the HG Metals. The HG Metals has divided its complete working into three different modules, i.e., HG industrial steel and services, HG construction steel and the third one is HG distribution. Headquarter of the HG Metal is basically located in Singapore through which the company is working in different- different countries of the world. This report on identifying the problems being faced by the management of the company and finding out their solutions is the main purpose of this stud (Team, 2016).

The main purpose of this report is to find out various problems being faced by the management of the company regarding to various internal and external factors. The company is facing several problems related to its manufacturing process like manufacturing flat steel bars, Angles, Beams, Electro Galvanized steel products, etc. At the time of manufacturing a large variety of steel products a huge amount of wastage is also generated, which affects the complete surrounding or we can say surrounding environment of the company (Wilby & Neale, 2011). The main problem being faced by the management of the HG Metals is the E- waste production depending upon their average life ratio. The company needs to face various problems related to their supply chain management because the company has to supply approximately three thousand heavy steel products across the different markets of the different countries. All these tasks are completely dependent upon the effective role of each and every employee of the company (Rouse, 2016). Therefore, for attaining the effective and efficient attention of every employee of the company needs to focus on its reward management system. The management is facing various problems related to the policies being introduced from time to time for providing incentives to the employees.

The research question section is the most important part of the research proposal or report. This section tells us about the various critical evaluations done at the time of the research process. This is the main step responsible for directing the whole report towards a particular direction or we can say towards the end solution. These research questions help in identifying the various problems or modifications necessary for the successful working of the company at the time this research is being carried out. In order to focus on the research report, it is very necessary that all the research questions should be clear and can be evaluated easily at the time of final solution (Robinson, 2013).

Research Questions

Various research questions related to this company are according to as written below:

• Does the reward management system affect the working and interest of the employees in actual?
• How does reward system helps the management in gaining the loyalty of the employees towards the company?
• What are the most important modifications required in the reward management system of the company so that, each and every employee will deliver its best regarding to their work?
• Any other beneficial replacement against the reward management system of the company?
• Various impacts of the mismanaged working of the reward management of the company on its profile?

The research design is a process of collecting the required data or any other type of information required by the management of the company in taking several important decisions for the sake of the company’s business as well as for the well- being of the employees. This step of the research report completely defines the type as well as the quality of data. The clear description of the whole data creates a clear image in the mind of the actual observer. The research design consists of various elements which are as mentioned below:

• Identifying the research topic – This step is the starting stage of the complete research. In this step, the actual topic or the problem is selected on which the complete focus is maintained and the complete research is done with respect to that topic or problem.
• Research questions identified – This is the second step of this report and various questions are being raised or we can say selected on which the management of the company needs actual focus. This step highlights the main problem on which the researcher has to carry out his/her research and has to set his/her mind in accordance to that vary problem (Wever, 2017).
• Key terms of the process – In this step, the researcher has to generate various facts that should be real in actual. On these various facts generated, the end solution is being identified against the various problems being discussed in the report earlier.
• Establishing sample questions – In this step of the research design, various conclusions can easily be identified depending upon the samples generated for a large number of people. The process of establishing these sample questions helps in representing the views of various people involved in the research.
• Collection of data and information – This step of the research design helps the researcher in collecting various facts and figures regarding the selected issue or the problem. This process of collecting the data describes various advantages and disadvantages of the several elements selected for the accomplishment of the report.
• Data interpretation – In this step, the data collected is maintained in an appropriate manner so that, it should be used at the time of its requirement. It is the responsibility of the management to maintain the complete data in such a way that no internal and external sources could affect it.

For evaluating the various impacts of the reward system of the company on the employees of the company, we have collected this data from various primary as well as secondary sources for this research. As if we talk about the primary data, we have collected this data by the directly communicating with the employees of the company and therefore, we have drawn the following chart depending upon the data collected. With respect to the secondary data, we have used the company’s website and many other articles available on the internet. For the several modifications required in the reward system of the company, various questions were asked directly to the employees of the company for carrying out the complete survey successfully.

Reward system is beneficial for the company or not?

• Yes
• No
• Don’t Know

With the help of this survey, the management of the company will able to judge the interest of the employees regarding to this vary system. If the management of the company will provide time to time incentives to the employees depending upon their capabilities, then each and every employee will start working efficiently for gaining more incentives.

Type of Reward system required

• Mixed Rewards
• Financial
• Non- Financial
• No Need

According to this survey done, we came to know that most of the employees are in favor of the mixed reward system. These mixed rewards can be presented to them in both financial as well as in nonfinancial manner (Hartzell, 2017). Whereas, some of the people are in the favor of financial and non-financial reward system, because they can utilize those such rewards according to their need. And very few people are in the favor that they don’t require any reward system.

Various impacts of the Reward system on the firm during employees service period?

• Yes
• No
• No such system

According to this survey most of the employees those who participated in the survey are in the favor that there was a lot of impact on the overall working of the company due to reward system. The maximum majority of the employees participated in the survey are in the favor of saying yes (Kuranchie-Mensah & Amponsah-Tawiah, 2016). Some of the employees are also in the favour of no, i.e., according to them there was no such impact of the reward system on the overall working of the company. Very few people were also in the favor that there was no such reward system during their service period in the company.

Research Design

The survey done depending upon both the primary as well as secondary data shows that, most of the employees or any other member of the company are in the favor of the reward system. It is seen that, if the employee is rewarded for his/her good job than it automatically motivated the other employees of the company to work with their full efforts so as to earn more and more rewards by the reward management of the company. The reward system helps in creating good relationships among the management and the employees of the company. By appreciating the employees of the company for the work they have done for the betterment of the company will raise the confidence level of every employee working in the company. Therefore, each and every employee will actively participate in each and every activity of the company. An employee can only work by implementing its full efforts if he/ she have complete faith in the several policies being introduced by the management of the company from time to time (Kealesitse, 2009). The reward system is beneficial for the company as it helps in achieving faith of the employees over the company’s management.

Conclusion

As we know, the HG Metals is one of the best companies working under this field. The company is providing a large variety of steel products to the people of the different countries across the world. The success of the company completely depends upon the working of its employees. Therefore, it is necessary for an organization to make good relations with the employees and for making such relationship the reward system is very beneficial for the company. The reward system helps the company in gaining the faith of the employees and it also provides satisfaction to the employees regarding their job. Therefore, we can say that there must be an appropriate reward management system in each and every Company either it is of small, medium or large level.

References

Hartzell, S. (2017). Reward Systems & Employee Behavior: Intrinsic & Extrinsic Rewards. Retrieved from https://study.com/academy/lesson/reward-systems-employee-behavior-intrinsic-extrinsic-rewards.html

Kealesitse, B. (2009). The impact of performance-based reward system (pbrs) on customers’ perceived service outcomes. Victoria University.

Kuranchie-Mensah, E., & Amponsah-Tawiah, K. (2016). Employee Motivation and Work Performance: A Comparative Study of Mining Companies in Ghana. Journal of Industrial Engineering and Management, 9(2), 255-309 . Retrieved from https://www.jiem.org/index.php/jiem/article/viewFile/1530/755

Robinson, A. (2013, July 22). Top 4 Manufacturing Issues in America – Part 1 of 2. Retrieved from https://cerasis.com/2013/07/22/manufacturing-issues/

Rouse, M. (2016). Supply chain management (SCM). Retrieved from https://searchmanufacturingerp.techtarget.com/definition/supply-chain-management

Team, J. (2016). HG Metal Manufacturing Limited: Company Overview. Retrieved from https://www.jobstreet.com.sg/en/companies/476720-hg-metal-manufacturing-limited

Wever, R. (2017). Design Research: Introduction. Journal of Design Research. Retrieved from https://www.inderscience.com/jhome.php?jcode=JDR

Wilby, A., & Neale, D. (2011). Detects introduced into metals during fabrication and service. Retrieved from https://www.eolss.net/Sample-Chapters/C05/E6-36-04-01.pdf