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Explain the relationship between reward and performance. (AC5.2) If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words. |
By an organisation using rewards successfully, improved performance is evident. Through recognition and compensation of good working, staff motivation in working hard and increased productivity. According to CIPD (2023a), successful rewards assists in retention of best talents and encouraging behaviours in alignment with entity objectives. In Clean Quarter, this increase performance since staff work hard to get regards by giving best performance results.
Extrinsic and Intrinsic Motivation The intrinsic motivation is sourced within a person and identify motivation which emerge from internal factors including individual satisfaction, interests and a feeling of being challenged (Cherry, 2022). Individuals intrinsically motivated pursue job roles for individual gains as opposed to external pressures/rewards. Extrinsic motivation conversely come from outside of a person and entail doing something since it contribute to an expected result. In Clean Quarter, it can entail behaviours guided by external rewards including monetary, famous, grading and avoiding being punished. The intrinsic motivation harness performance improvement through facilitating staff to get appropriate meaning and satisfied with their functions. The extrinsic motivation increase performance by incentives offered despite of potential risks of dissatisfaction when rewards are not offered (Cherry, 2022). In Clean Quarter, the best practice can include mixing intrinsic rewards for developing ownership with employees rewarded for achieving while extrinsic reinforcing appropriate behaviours hence increased performance. Maslow’s Motivation Theory In line with this theory, it is informed by assumption that individuals motivation is for achieving specific needs. In line with Cherry (2022a), physiological needs such as food and water need to be achieved prior their safety, love and self-esteem and self-actualisation demands. The motivation is guided by work to achieve the subsequent level of needs. Satisfaction in every level of the pyramid lead to self-fulfilment and driving performance. The Maslow theory is used in supporting the relationship of rewards and performance. In line with Maslow Theory, it is informed by need to fulfil low levels expectations by extrinsic rewards assisting driving motivation for achieving improved growth level (HRDQ Staff, 2022).
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Explain the reasons for treating employees fairly in relation to pay. (AC5.3)If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words. |
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- This was established after the post-negotiation review which brought out fundamental lessons about the supplier and our company’s negotiation pattern.
- As for certain important aspects, we indeed secured favourable financing conditions; yet, problems arose in attempting to synchronize delivery schedules since such conditions are affected by external supply chain factors.
- The supplier had the better BATNA and acted in a cooperative but very assertive way, and elaborated why the correct approach to negotiations is more equal.
- Further, the experience showed how flexible one has to be, how innovative, and how it pays to be more interested in long-term partnership rather than quick profit. Therefore, it will be useful in the future to improve the techniques of negotiation, improve the knowledge about the actions of suppliers, and improve intercompany and supplier cooperation.
- This will ensure that in future procurement negotiations; better outcomes are achieved.
- ROSHN should ensure that all negotiations within the next 6 months include specific metrics for delivery timelines, quality standards, and service levels, aiming for a 90% satisfaction rate in supplier compliance with these criteria. This approach will help secure more balanced and sustainable agreements.
- Over the next 12 months, ROSHN should develop a supplier relationship management program with bi-annual assessments to track and improve partnership quality. Target at least a 15% increase in supplier engagement scores by the end of the year to gain favorable bargaining positions during market downturns.
- Within 1 month of each major negotiation, conduct debriefing sessions to analyze performance, identify strengths, and address weaknesses. The goal is to improve negotiation effectiveness by at least 10% in the subsequent quarter through targeted adjustments based on these evaluations.
- Within the next 4 months, involve at least 80% of key stakeholders in sourcing strategy meetings to ensure alignment and gather input on critical decisions. This engagement aims to reduce misalignment issues by 20% within the year, resulting in smoother implementation of sourcing strategies.