1) Assignment Title
Nature and practice of human resource in management
2) Briefly outline the contemporary management issue you will analyse?
The issue which I am going to analyse is the financial rewarding system in an organisation. I will talk about how it motivates the employees of the organisation. I will discuss the various components of financial reward system and explain with details with the help of examples.
3) Which of the specified elements of the module will it focus upon?
It will talk about the financial rewarding system in the organisation
Components of financial rewards:
-BASIC PAY
-VARIABLE PAY
-CONTINGENT PAY
Its advantages and disadvantages along with some recommendations.
4) Why is this issue a significant one for you or your organisation?
It is important as money is very important factor of motivation for the employees so if a company is successful in drafting a efficient financial rewarding policy it is successful in motivating the employees to contribute to the best of their capabilities towards the attainment of the organisational. Drafting a good rewarding system is very important or it can even act as a de-motivator and create dissatisfaction in the minds of the employee because of which the company can lose some of the best of its resources.
5) What theoretical concepts and/or management tools will you use to support your analysis? (N.B Indicate particular sources/references wherever possible)
Maslow’s need hierarchy is a theory of management which talks about the needs of a person it say the most important are the basic needs that are the physiological needs and the safety needs which need to be satisfied and are a very strong motivating factor and with the help of the monetary benefit which the employee gets under the financial rewarding system he gets motivated to perform better as it helps him in satisfaction of his basic needs and the other benefits given to him under the rewarding system such as recognition and accountability helps in satisfaction of the needs in the higher level of the hierarchy called the self actualization needs etc. which are not so important for
survival but are meaningful to create a difference i.e. helps the employees to create their own identity.
6) If possible, indicate the areas that might be covered in your conclusions and the
recommendations.
My recommendations regarding the financial rewarding system are that firstly it
Should be made keeping in mind the individual objectives, organisational objective and
it should be in sync with the working of the unit or division in which the concerned
employee is working and secondly it should be formulated in accordance to the
SMART criteria.
7) Please present an outline structure plan, indicating the format that your assignment will take.
The assignment will take the following format:-
1) Introduction
2) Discussion on Human resource management
3) Defining financial reward system
4) Defining the various constitutes of the financial rewards
5) Advantages of financial rewards
6) Disadvantages of financial rewards
7) Recommendation
8) Appendices
9) References
L064
But you can order it from our service and receive complete high-quality custom paper. Our service offers General essay sample that was written by professional writer. If you like one, you have an opportunity to buy a similar paper. Any of the academic papers will be written from scratch, according to all customers’ specifications, expectations and highest standards.”
