The paper "Reward Systems and Organisational Culture at Focus Pointe" is a perfect example of a business assignment. The video case study from the Chapter ‘ Reward Systems’ brings to light a range of different problems faced by the organisation Focus Pointe, most of which stem from unsuccessful or nonexistent reward systems. Focus Pointe faces human resource management (HRM) issues common to many organisations in the areas of recruitment, retention and organisational culture. As these issues can all be linked to the organisation’ s reward system, an analysis and reform of this system may provide answers to these issues and enable the organisation to become more competitive and successful. A reward system or reward management is the aspect of HRM in an organisation that deals with the administration of remuneration.
It is this very function at the Focus Pointe which seems to have the deficiency. Organisations, like Focus Pointe, can use two types of rewards for goal achievement: financial and non-financial. Financial rewards refer to compensation with cash value such as salaries, bonus pay, stock options and benefits. Non-financial rewards include recognition, training and psychological characteristics of work (Heery & Noon, 2001).
A successful reward system can help the organisation to attract and retain the best employees whilst promoting a constructive organisational culture. Reward systems are designed by businesses as a means of compensating employees for their contributions. Appropriate reward systems are important to organisations as they can be used as an incentive for goals to be achieved and to influence the level of motivation amongst employees. For example, if monetary increases are offered to employees who attain certain production levels then workers may be more highly motivated to reach the target.
Monetary rewards have a recognised cash value, for example, base pay, pay increases, bonus pay, stock options and benefits which may appeal to cash-motivated employees. However, other employees may have a preference for more money, but find the extra effort for the monetary rewards not worth giving up the time spent in other activities.
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