(Whitelock, 2003). 2.5 Trained employee and increased productivity: Horizontal labor flow is very important for any retail company. When a firm has well organised and motivated employee to work, they can easily get some benefit from the competitive market place. It also important to make these employees motivated for a long time. For this purpose HR manager of Tesco provides a good environment for working, a good lifestyle, and recognition so that they can give maximum output (Sims, 1990).
The company has been increased the selling performance by favorable management which guide employees doing in the right way. A journal talked about the motivation Theory, it said “Motivation theory refers to the body of knowledge which explains the causal factors behind the dive call motivation, which leads individual their goals.” Thus, the leadership has the ability to improve the employees’ motivation that can effectively expedite job schedule. The Management should put into use good and fit motivation theory, which will good for their planning work, organizing, and controlling. In Intel company, they could use the X theory and the Y theory that can different use the employees and make the employees work in right
In many organizations, reward management has been seen to be a vital instrument in employee performance Guest (2002). A well rewarded employee feels that they are valued by the company. Such employees are encouraged to work harder and better if they are aware that their wellbeing is taken seriously by their employers, and that their career and self development are also being honed and taken care of by their company. Employees are the engine of organization vehicles while reward is the fuel. No organization can achieve its stated objectives without its employees.
Leader-member exchange highly improves job quality and fulfilment and aids in demonstrating OCB. For firms to be able to incorporate the OCB, they have to hire people who have conscientiousness traits as they demonstrate OCB behaviour which often results in progression within an organization in special offers and job satisfaction. The workers in return gain respect and recognition for their work from the management which increases motivation and further inspire to adopt OCB. Employees with conscientiousness traits have great LMX quality relationships with their superiors. This leads to high levels of job satisfaction from implementing OCB giving them more responsibility and freedom and present constantly new opportunities for them.
It also becomes the source of maximizing the affinity to the organization, which ultimately leads to the enthusiasm of the employee about organizational goals. Internal recruitment makes sure that company choose best possible employee internally, which ultimately contribute to achieve strategic goals of organization. Long-run productive and profitable organizational goals increases the importance and need of retaining existing employees. The cost effectiveness is not only the criteria of selecting a candidate internally but it also becomes time saving to select a candidate from already developed pool of candidate. And selecting the candidate from internally developed pool will become a catalyst to upsurge the morale and motivation of employees which leads to the high performanceHeraty and Morley
Table of Contents INTRODUCTION: TESCO 2 PERFORMANCE MANAGEMENT SYSTEM AND REWARD STRATEGY 3 APPROPRIATNESS AND EFFECTIVENESS FOR REWARD STRATEGY AND PERFORMANCE APPRAISAL SYSTEM 7 RECOMMENDATION 8 CONCLUSION 10 REFERENCE 11 APPENDIX 14 INTRODUCTION: TESCO Tesco operates in 13 countries and is the biggest private sector in the United Kingdom (UK). They have employed 366,000 people worldwide in 2365 stores operating in Malaysia, Poland, Hungary, China, Japan, South Korea, Thailand, UK, Czech Republic, republic of Ireland, Slovakia, Turkey, and Taiwan, with total sales of 37,070 million pounds. Tesco has built a lot on the strength that has developed as a market leader in the UK supermarket sector. Tesco makes sure their business all over
This represents an investment of around USD 397 per employee, including both internal and external trainings. 4.Method of HRM at Nestle: The Nestle group in the area of interpersonal relations and its management style and the corporation values are stated as follows: Their respect demands specific attitude that is worthy to be highlighted in the present policy. For taking any advice and decision Nestle depends on its employees. So Nestle has a ‘Democratic Leadership Style’. If the company is able to attract employees and develop its growth continually, they will easily achieve a long term success.
Ruth (2014) in view about employees performance suggested that an aspect of employee performance and business success is employee recognition and reward. Employees get motivated when their efforts are recognized and rewarded. Their motivation influences their performance and organization’s success. Rivette and Kline (2000) also in their view suggested that organization’s capacity to compete is imbedded in incumbents’’ (employees) capability, education and experience. Intellectual capital talented labour force is now central to many organizations.
For example, when the work is done well, the higher management can track and can recognize the staff for their hard work. Empowerment A good organizational chart also results in a sense of pride among members of the company due to the empowerment of their responsibilities and authorities. There is understanding of what they are allowed to do and what they are not. As a result of that, there will not be miscommunication and confusions. 1.3 Ways to improve efficiency Employee Morale To improve efficiency of the organisational chart, the organisation have to keep the employee morale high.
By early 2012, the airline accumulated the losses of over Rs. 7,000 crore with half of its fleet grounded and several members of its staff going on strike. In November 2010, in order to cater heavy debts and interest from the loans taken, the company went in for debt restructuring. As a part of it total of 18 leading lenders agreed to reduce interests and convert part of debts to equity. Debt restructuring helped the company to lower down interest to 11% and save ₹500 crore/year as interest cost.