Evaluation Of Total Reward Scales And Measures, And Reward Satisfaction Questionnaires

Evaluation Of Total Reward Scales And Measures, And Reward Satisfaction Questionnaires. Require The Write Up Of Background

S Hassen in his research paper The Effect of total reward on the employee engagement mentions that companies are aware of the involvement of the employees because they are facing a globalized competition. Engagement of work is a critical task. It is not only for academic purposes but also for professionals. Many research works say that this engagement has a positive relationship with the result of various companies (Pek-Greer, Wallace & Al-Ansaari, 2016). It will enhance the performance of the employee, customer satisfaction, huge amount of production and decrease in employee turnover. There is other research thatis reported job and company involvement.

As per the study of Galip (2013), only thirty percent of employees have involved they in the work, fifty percent of employees are merely present in the work, but the other twenty percent are actively disengaged. Gallup estimates their cites in the Harvard Business Review (2014). The importance of the employee’s engagement is performed for the survival of the employees and it is used to decrease the prosperity of the company. It can easily predict that a decrease in the level of engagement can have serious consequences for the result of the business because it is reported in many studies. It is noticed that the engagement of the employee is an important point for a company. Many employees are not engaged in the assignment or many even are actively disengaged (Onyancha, Elijah &Muturi, 2014). Companies must search for various types of strategies. They may use several mechanisms to motivate the employees and achieve the best from them. In the present economic context, it is very important for a organisation to motivate several staffs as well as increase their level of interest. In the current scenario, companies are transferring their attention to the total amount of reward packages for motivating the employees and increasing their level of engagement. Other studies reported that a lack of rewards as well as recognition can lead to employee turnover (Ogedegbe&Bashiru, 2014). Many studies also prove that the reward system provides the employees with some systematic practice to get some positive results. Kahn (1990) reported that people vary from engagement levels as a function of their perceptions. They will receive from their work. Different studies revealed that reward may serve as a systematicpractice. Engagement of the problems has a critical effect for many companies because various surveys indicate that only a few employees after working between the seventeen to twenty-nine. In a recent study of Harvard, business analytics say that twenty-four percent of the employees are highly involved in the studiedcompanies. Employees area great asset to a company. Most of the companies understand that it is very important to engage employees in the company (Mugisha&Kajungu, 2015). Several strategies can be implemented to improve the engagement of the employees. The Hay Group observes the engagement as an interchange of the relationship between the employer and employee. Researches argue that, if they are not fair employees, they will not influence the involvement of the employees. The rewards have a very powerful influence to decide the level of employee engagement. For that reason, the companies are providing various kinds of rewards to reach the desired level of engagement (Mokaya et al., 2013). It is a logical method to provide a reply to the employer. It is very difficult for employees to modify their level of performance. Social exchange theory explains why the employees become engaged and disengaged from their jobs.

Equity Theory of Employee Engagement

Studies show that the provision of the rewards by the employer increases the employee’s interest in the job. As cited by Sacks, this theory is cited by the definition of Kahn. Employees will elaborate on the citizenship of a company to reciprocate the perceived favors. Another basic theory is the theory of equity. The main flavor of this theory is that employees receive the rewards received from their job responsibilities. They compare the outcome-input ration to the relevant others (Mokaya & Kipyegon, 2014). The employees perceive the ratio that is equal to the relevant others. Rewards are fair and it will help to enhance the involvement of staffs within the company. They observe that the ratio is not equal to each other. Different models are developed in recent years. Many of these models offer different structures. It also provides advantages to the employees. The researcher can explain the outcome of the total rewards. It includes remuneration, advantages, work culture, performance and recognition, and development and career opportunities. Kahn defines the engagement of employees as the harnessing of a member of the company. The cognitive aspects of the employees have positive as well as negative behaviours towards the company and its team leaders. Engagement of Kahn represents the tendency of employees.Stockley (2007) describes engagement as the extent to which an employee believes in the vision and values of the company. It elaborates several commitments by using different actions as an employee and their behaviour towards the employer as well as consumers. Engaged employees are treated as the builder of an organisation. They perform at a consistent level. They want to utilise their talents (Maloa, 2015). They have the ability tom work with full potential. They increase the motivation to other employees and move their company forward with the help of their performances. A company should provide some compensation to the employees to achieve the best employee performance (Johennesse&Chou, 2017). Recognition is the psychological expectation of an employee. It helps to reach a company to the highest peak of success. Career opportunities help an employee to achieve career objectives. In this paper, the author describes the contribution of perceived reward. There is a strong relationship between the total rewards as well as the involvement of employees. If the total reward increases then employee engagement also increases.

Work engagement is very essential for any company. Crystal Hoole says that in order to access that they hire best employees and try to keep them motivated. They try to shift their mindset into the total reward strategy(Baba, 2015). This study will explore the total reward as well as reward satisfaction. A statistics report says that less than thirty percent of the employees are engaged into the work. A research says that employees are not satisfied with the traditional reward system. They want to feel valued and appreciated. According to Nor et al. (2020), employee recognition and rewards helps to enhance the productivity of the employee.hey mention that Malaysian government gives excellent rewards and recognition for the dedicated employees. It also improves the services of the public sector of Malaysia. If the employees of their Transport department provide outstanding services then they provide a good remuneration to their employees.Good HRM practices motivates the employees to work efficiently.

Total Reward and Reward Satisfaction

Roy Wise says that employee engagement is the most important concept. A survey says that hundred two employees are involved in the variety of jobs and companies (Baba, 2015). The average age is thirty four to sixty years. Candidates are involved in the current job for four years. It provides a happy and homely environment in the workplace. Employee incentive program helps to decrease the turnover and enhances employee wellness program.

Total reward system has five components: compensation, benefits, professional development and recognition. Compensation elaborates to the different ways by which a staff earns money from a company (Grzenda & Buczyński, 2015). Professional development has a huge area of learning. Work life balance refers to the employees to meet their chances to meet their targets. According to Le Bars et al. (2020), work life balance helps to enhance productivity of a company. It also helps an employee to grow professionally and helps to make him a bright career ahead.

Human resources are most important for any company (Grzenda & Buczyński, 2015). For efficient employees the company provides the reward and renovation. Reward satisfaction helps an employee to work harder in the workplace. As per Cohn et al. (2020), the people only can work harder when he is appreciated. A survey says that, seventy nine percent of the staffs say that remuneration helps them to work hard as well as seventy percent of the employees become more productive after receiving the award.

As per Ivo, Ingmar and Peter, there are several psychological theories that will assume the two basic brain mechanisms (Grzenda & Buczyński, 2015). There will be an approach for an activation system. It will improve the reward scale for any employee of a company.

In a modern environment, team performance plays an important role in the success of a company. One of the first questions that are asked by the interview board of the company is “can you be a part of the team at the time of working?” It is very difficult for a company to ensure that employees are working collaboratively as well as collectively (Grzenda & BuczyÅ„ski, 2015).Torrington et al. (2011) say that if the management of the performance of the employees is not performed accurately then it will be very difficult for the employees to manage the performance of the team. Group based rewards are logically focusing on team management as well as the performance of the work. It will be very easier for the manager to evaluate the performance of a team. According to (WorldatWork 2010a), it may take some time to adjust a new team member with the remuneration system of the company.  

Antecedents and Outcomes of Reward

One of the most important ways by which money is controlling the production of the company has been through the pay for performance applications (Borowski & Daya, 2014).This term can be defined as the payment of the individual amount of money for the production of each unit. Pay per performance can be treated as an incentive motivator for an employee.

The track record on retaining talent is the most important factor for talent engagement. Gallup studies saythose fifty-five percent of workforces are not involved. Towers Pennin says that one third of the research of all the workforces are negative. CNN has suggested that 8 out of 10 are currently for a new job and employer (Balakrishnan, Masthan & Chandra, 2013). This record is not at all good but there is a very good opportunity to become a strong leader. Every contemporary show that pay does not count for the high-level performers. The top-level employees believe that they should pay above the market rates. Many analysis shows that companies who are paying for the performance are likely to outperform. The companies want to make the structure of the organisation is attractive in front of talented employees (Babagana & Dungus, 2015). It is the responsibility of the team leaders to make the company attractive in front of the outside world. It will help them to make dedicated employees attractive. It will add some value to the company.

Macey and Schneider (2008) say that potential antecedents cannot be rigorously conceptualized. In addition to that, prevalent literature provides mixed results. Researchers consider that the engagement of all the employees hasa multi-dimensional construct. It has some related to job and company engagement (Baba, 2015). It is entirely related to the demographic variables. It is used to the assignment of the employees and company engagement. Researchers believe that this study can have a contribution to the literature of engagement. The outcome will find important implications. According to Hay Group (2013), Economic growth allows more opportunity to contribute some money in people. The positive multi-year trend is very important for employee engagement. These are carrying their entire selves to work. In the case of North America, the involvements of the United States are not so high for the last few years.In previous years, the employment rate in Canada decreases three points. In Latin America, massive instability in Venezuela has contributed to the small drop for the entire region. The largest markets of Brazil and Argentina are inconsistent mode (Anitha, 2014). In Europe, a decrease in the two points is the reflection of the current tension around the Brexit. The positive movement of China and India are the primary drivers.

Total Reward Scale

Field (2013) says that IBM SPSS statistics is very important for employee remuneration. It helps a company to receive a free salary comparison based on the job title, skills, experiences and education (Anitha, 2014). It helps a company get all the data related to the employee salary as well as data related to employee education.

In the correct circumstances, incentives have some important effects. It will increase the motivation of all employees (Alafi, Al-Qeed & Alkayed, 2013). Incentives helpemployees to enhance their performance. If incentive rate is designed badly then it can have a bad effect on the company. Earlier reports of PRP in European countries highlight that there is a continuous problem of implementation of the performance policies. There is inflation in the performance ratings. In many cases, PRP policies are failed to meet the main motivational needs for efficient performance. Previous reports in the United Kingdom disclosed dissatisfactionwith the PRP policies and highlighted some important questions. Other experts say that the performance pay system has a positive effect on performance. It is very important to note that instead of increasing the use of performance-related merit policies, their actual effect is not achievable(Agustiningsih et al., 2014). There are many risks that are involved in both the collective as well as individual PRP policy.

Marsden and Richardson (1992) said that many employees mentioned that merit generated the jealousy of an employee. It would reduce the morality of an employee. Employees can view the PRP as an entitlement but not as a reward. Inefficient performers may not take their bad performances seriously. It clearly shows some bias for conducting the performance appraisals (Adeoye & Fields, 2014). Efficient employees avoid negative social sanctions. Other possible effects are neglecting the aspects of a job.

Conclusion

Employee remuneration is the most important part of the human resource practices as well as for the public-private sector. In the case of remuneration, the corporate sectors are far behind from the public sectors. In the corporate sector, remuneration is offered to the employees based on their seniority. But in the public sector, the picture is totally different. Pay review of the employees of the public sector is done on the demand of each employee. This lead to the mismanagement, poor motivation as well as corruption in the corporate sector. In the current scenario, an entry-level officer of the public-private sector is getting the same salary as a top-level manager a public sector enterprise.Composition packages refer to all kinds of financial returns. It is entirely related to the relationship of the employee.  Programs that are related to the remuneration of employees can be modified anunlimited number of times. In the end, it can be concluded that employee remuneration is an important factor for the growth of a company.

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