当前位置:网站首页 >留学文书范文

热门问题

留学文书范文

1.      Introduction
In modern times, human resources are a big part in organization management and rewarding system is very important for the reward system aims to stimulate the staff members to take part in the operation and management of an organization so that the whole organization can attain profits (Grensingpophal, 2008:15-16). This paper aims to discuss the functions of reward system under the backdrop of the Cheesy Pizza Company entering into a new market overseas. To make the question clearly, the paper will be divided into five. First, an introduction will be given. Then, the objectives of the reward system for the company will be discussed. The third part will explore the elements applied in the circumstances. The last part will be a conclusion.
2.      Objectives of the Reward System
Different companies in different stages need different reward systems accordingly. the System is made up of standards and regulations for both basic wages and bonus and rewards (Fan et al., 2016: 12-14) so the employees can understand the relationship between performance and attainments. Generally, the objective of a reward system can be concluded to encourage the employees to perform better for more rewards. As for the case of the Cheesy Pizza Company, with headquarter in Singapore, it tried to set up new branches in Hong Kong. Besides to encourage employees to perform better, the reward system of this company should also try to attract more talents outside or inside the company for the development of the company. To sum up, for the company, the reward system has two objectives, namely encouragement of employees’ better performance and attraction of new talents.
3.      Elements Applied in the Reward System of the Cheesy Pizza Company
3.1 Guidance principles of the reward system
Generally, when constructing an effective reward system, the designer and the constructor should take these principles into consideration.
Firstly, the system should be localized. As mentioned above, Hong Kong is a new market the Cheesy Pizza Company will enter into. Therefore, the system should adapt itself into the local situations and conditions so as to appeal more talents to the company and retain them with good rewards packages. Secondly, the system should be profit-oriented. The supreme aim in the expansion of overseas market is to attain more benefits. Thus, the system should be designed to manipulate the cost of human resources management to an acceptable level and meanwhile, the system can also keep its charm to the staff members (Iamratanakul et al., 2010: 17-18). Then, the system should be fairness-oriented. Finally, to make sure the efficiency and effectiveness of the system should take the local legality into consideration.
3.2 Elements of the Reward System Classification
Basically, the reward can be classified into monetary and non-monetary. Monetary reward covers areas of salaries, bonuses, allowances, stocks, insurance, accommodation, and so on. In terms of nonmonetary one, it means the charms of the work itself, challenges and responsibility, personal development and good setting, education system, etc.  The monetary and nonmonetary rewards are very essential in the company’s reward system, which will decide whether the company can attract and retain more talents (Rivenbark, 2004: 6-7). At the same time, areas including compensation, profits, development and work chances, etc are also very important to think about. The monetary reward can offer direct attraction for new comers and a healthy monetary reward system can promote the development of the company for the system can help employees to form a fair and good competition. Via the analysis of the different accountabilities, working pressure and requirements for various positions in the company, the reward system should figure out different plans for the staff members in various posts (Khongchai and Songmuang, 2016).
Non-monetary reward can help the company set up a good cultural environment for all the employees.
Therefore, it is very important to take good advantages of these two parts in reward system.
4.      Conclusion
To sum up, the reward system plays an essential role in human resources management, and this will help the achievement of organization goal and attractiveness for qualified talents. The reward system is designed under a background of exploration in the new market in Hong Kong. Thus, the system becomes crucial for both recruitment and retaining of the employees.
 

uang, P. (2016). Improving students' motivation to study using salary prediction system. International Joint Conference on Computer Science and Software Engineering (pp.1-6). IEEE.
Rivenbark, L. (2004). Competency-based human resource management (book). Hr Magazine.
 
  • 留学文书写作
  • 留学指南
  • 服务价格
  • 留学DIY申请
  • 联系我们