Reward Management Assignment Help
Introduction: Reward management deals with formulating and implementing strategies that aim towards rewarding people at work in an equal, fair, consistent and non-discriminatory manner. The rewards given through this system serves to act as motivation to both who do well and to those who seek to do well. In this essay, I will discuss two types of rewards and the reason why an organization uses them, linking them with Vauxhall and McLaren when appropriate.
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Reward Management Assignment Help

Introduction:

Reward management deals with formulating and implementing strategies that aim towards rewarding people at work in an equal, fair, consistent and non-discriminatory manner. The rewards given through this system serves to act as motivation to both who do well and to those who seek to do well. In this essay, I will discuss two types of rewards and the reason why an organization uses them, linking them with Vauxhall and McLaren when appropriate.

Fair Piece Rates – Armstrong and Stephens (2012) mentioned that piece rate has remained one of the most basic payment methods since centuries. Piece rate works on the principle where employees are paid for each item or task completed. This motivates the workers to increase their productivity to maximise their earnings. (Refer to appendix 1 for more information)

Reward Management Assignment HelpChiang (2013) mentioned that many companies have abused the use of piece rates, fooling people into thinking a piece of work could be completed in that given set of time. For example, Companies may advertise ‘work at home’ jobs that claim to allow people to earn up to £ 20 or £ 30 an hour simply working at home. However, in order to earn that advertised amount the person would have to work at superhuman pace. The reality being that most people who set out the complete these tasks fall well short of the set targets earning them not even one tenth of the promised amount. For this reason, McLaren and Vauxhall, do not use piece rates to pay employees in their various manufacturing, distribution and retailing units.

Fair wage rates – Wages are paid to employees or workers on an hourly basis, for example, £4 or £5 an hour. In the UK, the majority of semi-skilled and unskilled workers are still paid using this system. Wages bring a sense of security to workers as it allows them to work overtime to earn extra income (for more information refer to appendix 2).

Payment of Salaries and Salary hikes – Kerr and Slocum (2014) opined that payment of salaries on a monthly basis can act as a motivator in its self. Unlike wages, salaries guarantee a fixed amount of payment for workers irrespective of how many hours they work in a way or week. Most employees prefer this form of remuneration as it also helps to make large payments (mortgages, loans etc) and generate savings. This payment system adopted by Vauxhall benefits the company, as it ensures that the employees will remain engaged in their duties at least until the end of the month.

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