The job role of the human resource management (HRM) teams has undergone a substantial amount of change in the contemporary business world in synchronicity with the changing requirements of the business world (Hassan, 2016). Foss et al. (2015) are of the viewpoint that the HRM teams of the various contemporary organizations are no longer concerned only with the processes of selection, recruitment and other basic functions rather they need formulate various practices which are likely to help in the growth of the organization. As opined by Kirsch and Connell (2018), the goal of these strategies or practices is to strategically align the workers of the organization with the overall needs or the strategies followed by the concerned organization. In addition to these, the HR professionals also needs to ensure the fact that the practices formulated by them not only takes into effective consideration the needs of the employees but also the threats as well as the opportunities presented by the business environment in which the concerned organization is operational (Cohen, 2017). In this regard, it can be said that the HR professionals are seen as the stewards of the organizations rather than just a non-essential department of the organization (Shipton et al., 2017). This report will discuss about the reward and recognition related problem that the organization I am currently working for is facing presently and also the manner in which this can resolved in an effective manner.
Akunda, Chen and Gikiri (2018) are of the viewpoint that one of the major job roles of the HR professionals within the cannon of the modern business world is to address the various grievances as well as issues that the individuals within an organization are facing. These issues can be related to the job design, job roles, the need of enhanced or advanced training, organizational culture, workload or stress and others (Rubel et al., 2017). As opined by Peluso, Innocenti and Pilati (2017), the prospects of a business enterprise are determined on the basis of the effectiveness with which the HR professionals of the concerned organization are being able to address these issues or the grievances of the employees. The resolution of these issues is important because of the fact that these issues that the employees face are directly correlated with the performance of these employees and thereby the overall productivity of the concerned organization (Akunda, Chen & Gikiri, 2018). The HR professionals of the contemporary organizations are thus required to conduct regular sessions and also feedbacks so as to identify the issues which are really affecting the employees of the organizations (Shields et al., 2015). This is important because of the fact that knowledge regarding the issues or the problems which the employees helps the HR professionals to formulate the strategies or practices that can help them to address these needs of the employees (Li et al., 2017).
Dar et al. (2014) are of the viewpoint that the entity of reward and recognition has emerged as one of the most important aspects of the business enterprises of the current times and is being widely used by the various organizations for the effective management of their human resources. Bos-Nehles, Renkema and Janssen (2017) have argued that the construct of reward and recognition not only enables the various organizations to effectively reward as well as recognize the performance of the various individuals of their organization but also to motivate them in a positive manner. It is a commonly recognized fact that the human beings have an inherent desire to get recognized as well as rewarded for the hard effort or hard work that they are putting in for the cause of an organization. It is in response to this particular need of the humans that the construct of reward and recognition has been formulated by the various organizations and also effectively practiced (Maurya & Chatterjee, 2018). Furthermore, recent researches have revealed that the organizations which take the help of the machinery of reward and recognition have a far better prospect of attaining a higher rate of profitable and better employee productivity than the ones which do not use this system (Shipton et al., 2017). In addition to these, it is seen that the machinery of reward and recognition provides diverse benefits to a particular organization. For example, rewarding the individuals propels them to perform in a much better manner and at the same time it also motivates the non-performing employees of the organization as well (Akunda, Chen & Gikiri, 2018). The net result of this is the fact that the construct under discussion here has emerged as an indispensible part of the job roles of the contemporary HR professionals.
The organization that I work for does not have a well developed or formulated reward management policy and this is hampering not only the prospects of the concerned organization but at the same time performance level of the employees as well. The lack of rewards as well as recognition that the employees are getting currently is deterring them from performing as per their maximum potential. Thus, personally believe that the organization needs to not only formulate but also implement an effective reward system wherein the employees will be rewarded and recognized for the hard work that they are doing for the cause of the organization. This is important from the perspective of the organization as well as the employees since it is directly related to their performance.
The HRM issue that the organization under discussion here is facing can be resolved through the use of effective reward management policy. The HRM of the concerned organization would have to undertake performance reviews in accordance with the performance standards set by managers and also the management team of the organization (Foss et al., 2015). However, the important thing that the HR professionals of the organization needs to take into effective consideration for the formulation of the reward policy is the fact that the rewards given to the employees should not be totally based on the quantification of performance. For the practice or the policy to be effective the HR professionals at the same time needs to take into consideration the contribution made by the employees towards the enhancement of the performance of their colleagues and also towards the growth of the concerned organization as well (Rubel et al., 2017). Furthermore, recent researches have shown that monetary rewards go well with some of the employees whereas designations go well with others (Akunda, Chen & Gikiri, 2018). The HR professionals, thus, need to devise the kind of reward policy wherein the employees would not only be rewarded in terms of monetary gains but at the same time would be rewarded with designations as well in case of sustained high quality performance (Peluso, Innocenti & Pilati, 2017). I personally believe that the effective utilization of this reward policy would enable the organization to overcome the performance related issues that it is facing currently.
Shields et al. (2015) are of the viewpoint that the managers of the cotemporary organizations can be seen as the stewards of the organization and thereby they need to perform not only the job roles of the managers but at the same time that of the leaders as well. In this capacity, the managers are required to work in close association with the HR professionals and indentify not only the current needs of the organization but also the needs of the employees of the organization as well (Kirsch & Connell, 2018). Furthermore, they are required to formulate the kind of practices as well as strategies which will enable them to address these needs in the most effective manner. This is important not only from the perspective of the concerned organization but at the same time from the perspective of the employees as well since it is seen that these practices or strategies offer diverse benefits to both of these entities (Valeau & Paillé, 2017).
In the particular context of the organization that I work it can be said that the effective implementation of the reward policy will enable the organization to boost the performance of the employees in a positive manner. As opined by Li et al. (2017), these strategies or practices not only enable the organizations to address the needs of the organizations as well as the employees but at the same time enhance the productivity as well. Furthermore, these practices go a long way in aligning the goals of the workers with that of the organization as well (Bos-Nehles, Renkema & Janssen, 2017). In addition to these, these strategies have a positive or motivational effect on the employees because of the fact that when the employees see that their needs or demands are being addressed by the organization they actually feel motivated to perform (Shields et al., 2015). Thus, it can be said that the implementation of the reward policy is not only the need of the hour but at the same time will contribute in a substantial manner towards the long-term growth of the organization as well.
It is true that the reward policy proposed earlier addresses the basic needs of the organization and at the same time is likely to address the demands of the employees in an effective manner. However, the effective utilization of the alternate strategy of providing incentives and other kinds of perks to the employees would also meet the needs of the employees (Rubel et al., 2017). For the usage of this strategy the HR professionals would be required to devise a compensation plan for the employees on the basis of their monthly or quarterly performance. Once again the HR professionals would have to work in close association with the management team of the concerned organization for the formulation of this plan or strategy. The employees would be overshooting the monthly targets which are being provided to them would be entitled to these incentives and perks. Furthermore, there would be several slabs in the incentive plan which would accommodate the compensation that would be given to employees on the basis of their monthly performance (Peluso, Innocenti & Pilati, 2017). In addition to these, there would also be provision for the employees who have contributed in a substantial manner towards the improvement of the performance of the other employees and also the organizational growth (Rubel et al., 2017).
There are various factors that need to be taken into consideration for the implementation of this alternative strategy. For example, for the effective implementation of this strategy the HR professionals can conduct a session with the employees or convey the relevant information to the employees through emails as well. Furthermore, the implementation of this plan would at the same require the HR professionals to analyze the monthly performance of the employees on a regular basis and consult with the accounts team to determine the amount of incentives and monetary rewards that the employees are entitled to. In addition to this, in case of designations the HRM team would have to consult the management team of the concerned organization. Thus, it can be said that for the effective implementation of this practice the HRM, management and the accounts teams would have to work in close association with each other.
Conclusion
To conclude, the complexity of the modern business world has necessitated a change in the job role of the HR professionals. The net result of this aspect is the fact that the HRM teams of the contemporary business enterprises are no longer as a department of the organization which is solely imbued with the role of the recruitment rather they are required to play a pivotal role in the entire process of business operations. This change in the job role of the HR professionals not only enables them to effectively resolve the issues as well as he challenges faced by the employees but at the same time helps them in the management of the human resources of the organization as well. Thus, it is seen that the HR professionals besides the identification of the important issues which are affecting the performance of the employees are also required to devise strategies for the mitigation of the same. In this regard, the policy of reward management adopted by the HRM teams for the management of the productivity of the human resources is an important one and helps them to address the needs or the demands of the employees in a substantial manner. Furthermore, the implementation strategy adopted by them for the implementation of the concerned policy or strategy is also important and this often requires them to work in close association with the managers as well as the management team of the concerned organization.
References
Akunda, D., Chen, Z., & Gikiri, S. N. (2018). Role of HRM in Talent Retention With Evidence. Journal of Management and Strategy, 9(2), 8.
Bos-Nehles, A., Renkema, M., & Janssen, M. (2017). HRM and innovative work behaviour: a systematic literature review. Personnel review, 46(7), 1228-1253.
Cohen, E. (2017). Employee reward and recognition. In CSR for HR (pp. 85-98). Routledge.
Dar, A. T., Bashir, M., Ghazanfar, F., & Abrar, M. (2014). Mediating role of employee motivation in relationship to post-selection HRM practices and organizational performance. International Review of Management and Marketing, 4(3), 224-238.
Foss, N. J., Pedersen, T., Reinholt Fosgaard, M., & Stea, D. (2015). Why complementary HRM practices impact performance: The case of rewards, job design, and work climate in a knowledge?sharing context. Human Resource Management, 54(6), 955-976.
Hassan, S. (2016). Impact of HRM practices on employee’s performance. International Journal of Academic Research in Accounting, Finance and Management Sciences, 6(1), 15-22.
Kirsch, C., & Connell, J. (2018). Organizational Sustainability—Why the Need for Green HRM?. In Global Value Chains, Flexibility and Sustainability (pp. 223-239). Springer, Singapore.
Li, F., Deng, H., Leung, K., & Zhao, Y. (2017). Is perceived creativity?reward contingency good for creativity? The role of challenge and threat appraisals. Human Resource Management, 56(4), 693-709.
Maurya, R. S., & Chatterjee, D. A. (2018). Standard HRM Practices: A Review & Theoratical Framework. Researchers World, 9(1), 28.
Peluso, A. M., Innocenti, L., & Pilati, M. (2017, December). Pay is not everything: Differential effects of monetary and non-monetary rewards on employees’ attitudes and behaviours. In Evidence-based HRM: A Global Forum for Empirical Scholarship (Vol. 5, No. 3, pp. 311-327). Emerald Publishing Limited.
Rubel, M. R. B., Kee, D. M. H., Rimi, N. N., & Yusoff, Y. M. (2017). Adapting technology: effect of high-involvement HRM and organisational trust. Behaviour & Information Technology, 36(3), 281-293.
Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P., … & Plimmer, G. (2015). Managing employee performance & reward: Concepts, practices, strategies. Cambridge University Press.
Shipton, H., Sparrow, P., Budhwar, P., & Brown, A. (2017). HRM and innovation: looking across levels. Human Resource Management Journal, 27(2), 246-263.
Valeau, P. J., & Paillé, P. (2017). The management of professional employees: linking progressive HRM practices, cognitive orientations and organizational citizenship behavior. The International Journal of Human Resource Management, 1-27.
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