The evolution and future of total rewards as a remuneration strategy
- Authors: Ducie, Yvonne
- Date: 2019
- Subjects: Compensation management , Performance awards Employee motivation
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/42207 , vital:36635
- Description: A total rewards framework plays a pivotal role in the attraction, engagement and retention of employees. The study firstly traces the history of reward and the factors that have led to the notion of a total rewards model. The study then sought to discover whether the current approach was optimal and therefore a desired strategy for the workplace of the future. Through the literary review, coupled with qualitative research with participants from well-known sizeable organisations, the research indicates that, whilst a competitive salary and benefits package is an essential factor in the employee cycle, and that pay does play a big role in the attraction of employees; once employed it is the non-financial factors that are paramount to the engagement and retention of employees. Insofar as employees believe their package is competitive and/or reflective of their contribution, they have the potential to be engaged. For that potential to be realised, it is the little things that matter to the employees that then come into force. Workplace culture, flexibility, career development, transparency, an alignment between the employee, the brand and the values of the organisation, are all vital in the engagement and retention of employees. In order for these factors to remain valued by employees, communication is essential. Manager interaction remains at the forefront of the employees’ experience at work. A positive interaction whereby coaching, development and the achievement of the little things that really matter, allow for a more productive and engaged employee, which ultimately improves the profitability and/or success of the business.
- Full Text:
- Date Issued: 2019
- Authors: Ducie, Yvonne
- Date: 2019
- Subjects: Compensation management , Performance awards Employee motivation
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/42207 , vital:36635
- Description: A total rewards framework plays a pivotal role in the attraction, engagement and retention of employees. The study firstly traces the history of reward and the factors that have led to the notion of a total rewards model. The study then sought to discover whether the current approach was optimal and therefore a desired strategy for the workplace of the future. Through the literary review, coupled with qualitative research with participants from well-known sizeable organisations, the research indicates that, whilst a competitive salary and benefits package is an essential factor in the employee cycle, and that pay does play a big role in the attraction of employees; once employed it is the non-financial factors that are paramount to the engagement and retention of employees. Insofar as employees believe their package is competitive and/or reflective of their contribution, they have the potential to be engaged. For that potential to be realised, it is the little things that matter to the employees that then come into force. Workplace culture, flexibility, career development, transparency, an alignment between the employee, the brand and the values of the organisation, are all vital in the engagement and retention of employees. In order for these factors to remain valued by employees, communication is essential. Manager interaction remains at the forefront of the employees’ experience at work. A positive interaction whereby coaching, development and the achievement of the little things that really matter, allow for a more productive and engaged employee, which ultimately improves the profitability and/or success of the business.
- Full Text:
- Date Issued: 2019
Factors influencing pay systems in the manufacturing industry of Port Elizabeth
- Authors: Boyce, Ncedile
- Date: 2014
- Subjects: Wage payment systems , Incentives in industry , Employee motivation , Compensation management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8926 , http://hdl.handle.net/10948/d1021168
- Description: Collective bargaining was impacted by the confrontation at Marakina and the role players, employers and unions were left looking for new creative alternatives to reward operational employees (blue collar workers).Then, finding a well-designed pay system is crucial for the success of the organisation, since collective bargaining is under pressure. The following determinants, job based pay, performance based pay, skills based pay, education and training, and tenure based pay were constructed from literature to formulate the conceptual model for the pay of operators in the manufacturing sector of Port Elizabeth. There are a number of factors that are at play in the determination and design of pay systems, which need to be considered. Two major pay systems are at the centre of this study and they are those based on the worth of the job and those that are based on employees’ skills, productivity, education and training, and tenure. Pay equity is at the heart of employment relationship and is the reference point with regard to the distribution of resources when economic productivity and profitability are achieved. The findings presented indicated that all the determinants, job based pay, performance based pay, skills based pay and education and training, with the exception of tenure based pay, were significant to the pay of operational employees. However, the multivariable regression model found that job based pay is more significant and should be modelled as the foundation of the pay system for operational employees. Other pay determinants, such as performance and skills based pay are best modelled as additional increments that accelerate employees’ pay.
- Full Text:
- Date Issued: 2014
- Authors: Boyce, Ncedile
- Date: 2014
- Subjects: Wage payment systems , Incentives in industry , Employee motivation , Compensation management
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8926 , http://hdl.handle.net/10948/d1021168
- Description: Collective bargaining was impacted by the confrontation at Marakina and the role players, employers and unions were left looking for new creative alternatives to reward operational employees (blue collar workers).Then, finding a well-designed pay system is crucial for the success of the organisation, since collective bargaining is under pressure. The following determinants, job based pay, performance based pay, skills based pay, education and training, and tenure based pay were constructed from literature to formulate the conceptual model for the pay of operators in the manufacturing sector of Port Elizabeth. There are a number of factors that are at play in the determination and design of pay systems, which need to be considered. Two major pay systems are at the centre of this study and they are those based on the worth of the job and those that are based on employees’ skills, productivity, education and training, and tenure. Pay equity is at the heart of employment relationship and is the reference point with regard to the distribution of resources when economic productivity and profitability are achieved. The findings presented indicated that all the determinants, job based pay, performance based pay, skills based pay and education and training, with the exception of tenure based pay, were significant to the pay of operational employees. However, the multivariable regression model found that job based pay is more significant and should be modelled as the foundation of the pay system for operational employees. Other pay determinants, such as performance and skills based pay are best modelled as additional increments that accelerate employees’ pay.
- Full Text:
- Date Issued: 2014
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