Introduction
Specializing in pizza, Cheesy Pizza Company, a food and beverage (F&B) franchise has garnered the attention of many. With a growing interest by consumers on the pizzas sold by Cheesy Pizza; the company has plans to open ten outlets each, in Singapore and Hong Kong in 2018 to expand their franchise and reach more consumers.
As an HR consultant hired by Cheesy Pizza Company, I have been tasked to advise the company in ensuring proper rewards and motivation for its management team and employees. I will be advising them in the selection of which reward system the company should put into place.
To do so, I will; be explaining to the senior management of Cheesy Pizza Company on the objectives of a reward system and its importance and …show more content…
Skills and Knowledge Development
Relating to the motivation of employee performance; reward systems can encourage employees to improve their skill sets by taking courses, for example, to receive more remunerations.
(Beardwell and Thompson, 2017) suggests that it all sums up to how employees are compensated for their ability to perform, rather than paying for their performance.
I suggest adjusting the system setup; for example, bonuses can be provided to staff have exceptional communication and customer service skills and have attended relevant courses – especially since these skills are important in the F&B industry, where there is a lot of communicating with customers.
vi. Effective and Affordable Reward Practices
This is in regard to an organization’s ability to pay and how high expense levels should be. In the perspective of cost-benefit; benefits can be planned for and costs can be controlled managed.
(Lawler, 1983) states that usually, reward systems tend to be a substantial cost factor.
The Design Factors of Reward Systems
i. An Organization’s Intended Market …show more content…
Cheesy Pizza should adopt this practice, to place themselves in a strong foothold for its branches in Singapore and Hong Kong.
ii. Internal and External Equity
Based on both internal and external factors, equity pay ensures the receiving of equal benefits for all parties involved. To set compensation levels, organizations must determine the job-related factors used – for example; the required education and experience.
(Romanoff, Boehm and Benson, 1986) cite that internal equity can be conveyed in terms of employees who; perform similar or dissimilar jobs, or work within the same or different departments; and external equity in terms of employees who; are in the same or different industries or geographic locations, or in organizations of similar or differing sizes.
The company should define appropriate markets carefully to ensure accurate external wage comparisons. A too narrow definition can result in unnecessary high wages; while having it too broad may cause wages set too low to attract and retain competent employees.
iii. Cost
Specializing in pizza, Cheesy Pizza Company, a food and beverage (F&B) franchise has garnered the attention of many. With a growing interest by consumers on the pizzas sold by Cheesy Pizza; the company has plans to open ten outlets each, in Singapore and Hong Kong in 2018 to expand their franchise and reach more consumers.
As an HR consultant hired by Cheesy Pizza Company, I have been tasked to advise the company in ensuring proper rewards and motivation for its management team and employees. I will be advising them in the selection of which reward system the company should put into place.
To do so, I will; be explaining to the senior management of Cheesy Pizza Company on the objectives of a reward system and its importance and …show more content…
Skills and Knowledge Development
Relating to the motivation of employee performance; reward systems can encourage employees to improve their skill sets by taking courses, for example, to receive more remunerations.
(Beardwell and Thompson, 2017) suggests that it all sums up to how employees are compensated for their ability to perform, rather than paying for their performance.
I suggest adjusting the system setup; for example, bonuses can be provided to staff have exceptional communication and customer service skills and have attended relevant courses – especially since these skills are important in the F&B industry, where there is a lot of communicating with customers.
vi. Effective and Affordable Reward Practices
This is in regard to an organization’s ability to pay and how high expense levels should be. In the perspective of cost-benefit; benefits can be planned for and costs can be controlled managed.
(Lawler, 1983) states that usually, reward systems tend to be a substantial cost factor.
The Design Factors of Reward Systems
i. An Organization’s Intended Market …show more content…
Cheesy Pizza should adopt this practice, to place themselves in a strong foothold for its branches in Singapore and Hong Kong.
ii. Internal and External Equity
Based on both internal and external factors, equity pay ensures the receiving of equal benefits for all parties involved. To set compensation levels, organizations must determine the job-related factors used – for example; the required education and experience.
(Romanoff, Boehm and Benson, 1986) cite that internal equity can be conveyed in terms of employees who; perform similar or dissimilar jobs, or work within the same or different departments; and external equity in terms of employees who; are in the same or different industries or geographic locations, or in organizations of similar or differing sizes.
The company should define appropriate markets carefully to ensure accurate external wage comparisons. A too narrow definition can result in unnecessary high wages; while having it too broad may cause wages set too low to attract and retain competent employees.
iii. Cost