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Payment System And Influence Of Motivation

5579 words - 22 pages

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Payment Systems and the Influence of MotivationTABLE OF CONTENTSINTRODUCTION 4TIME RATES PAYMENT 6TIME RATES PAYMENT PERSONAL EXPERIENCE 8PAYMENT BY RESULT 13PAYMENT BY RESULT PERSONAL EXPERIENCE 16PAYMENT BY RESULT CASE STUDY 19PERFORMANCE BASED PAYMENT 20PERFORMANCE BASED PAYMENT CASE STUDY 22PAYMENT SYSTEMS AND MOTIVATION THEORIES 23CONCLUSION 28APPENDICES 29-34A National Staff 2001 Performance ReviewB Payment by Result Case StudyC Performance Based Payment Case StudyD Presentation slidesREFERENCES 35INTRODUCTIONPay, effort, performance and rewards are core issues in the employer-employee relationship. The first reference to measure work dates back to the printing trade during the fourteen-century. From the employees' perspective, policies regarding wages, salaries and other earnings have a major impact on their standard of living. Pay is often considered as a sign of status and success and, consequently, employees attach great importance to pay decisions when they evaluate their relationship with the organization. As a result, pay decisions are carefully structured and managed in any organization. From the employer's point of view, pay is a powerful tool for furthering the organization's strategic goals. Pay and work measurements are elements of control and motivation for people at work.According to Armstrong & Murlis (1994), the definition of Reward Management is the process of developing and implementing strategies, policies and systems which lead to organisational objectives by obtaining, keeping and increasing the motivation and commitment of employees.Reward is one method that companies use to communicate with employees about their value and contribution to the organisation. Effective reward management results in the optimisation of staff costs, while individual and organisational performance can be improved. The process involves recognising that employees are motivated by a variety of factors, including, pay, benefits, personal and professional development and the work environment. Appropriate integration of these elements to satisfy both employer and employee is a complex task requiring specialist expertise.In a Human Resource Management context, reward management cannot be reduced to simple rewards and incentives, such as, salaries, bonuses and commissions. It is also concerned with intangible benefits including the ability to satisfy the employees' psychological needs. It is illustrated later that this has a direct bearing upon worker motivation.This portfolio outlines the discussion and analysis involved in meeting our main objective, that is:Evaluation of three methods of Payment Systems, taking into account the influence of motivation.It was decided that the Payment Systems under evaluation would be:( Time...

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