Question 4: Motivation and Total Rewards 33 marks
Describe the impact of a total rewards structure of employee motivation.
The impact of total rewards program on employee:
It is very important to recognise the ability of the employees by the organisation and to deliver the right amount of rewards, to the right people, at the right time, for the right reason. Employees today are not ready to work only for the money, they expect 'extra'. Benefits and remuneration as well. This extra is known as employee benefits. The impact of this remuneration and total reward scheme has helped top organisations to maintain their high quality and productivity of their work.
A well designed compensation and benefits plan helps to attract, motivate and retain employees and staff in your firm. The working conditions, company policy, security, relationship with management and subordinates can sometimes stop the growth of the employee. Only achievement, recognition, advancement, responsibility, will motivate a person to ‘go the extra mile’. Several common factors are required to motivate the hotel staff, and maybe satisfy customer needs as well We all have different kinds of needs. Some of us want money so they work for the company which gives them higher pay. Some value achievement more than money, they would associate themselves with firms which offer greater chances of promotion, learning and development. Offering several types of coverage’s and schemes to your employees give them peace of mind. Every human being wants his/her efforts to get acknowledgment. Employees gain more and more confidence in them and in their abilities if they receive just rewards. As a result, their performance level shoots up.
Hence, with the help of the reward scheme organization today can manage their reputation and image and can sustain business.
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