A comparative study of leadership, strategic direction and reward on employment perfomance
- Authors: Gopal, D. M. S
- Date: 2016
- Subjects: Leadership , Performance - Evaluation , Performance - Management , Employee motivation , Employees - Rating of , Compensation management , Incentives in industry , Incentive awards
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/82434 , uj:18957
- Description: Abstraction: The consensus from leadership is that for a business to perform there is a need for quality employees. Besides being capable of doing their job well, employees also have to be flexible and capable of adapting to a constantly changing and evolving competitive environment. One of the key tasks of leadership is performance management and this involves many roles which include leading by example, being a compelling and effective communicator as well as being able to partner up and collaborate as stated by Blunt and Jones (1992). The need for staff to perform at their peak consistently is no longer negotiable and the need to retain exceptional performing staff in the financial services sector is of utmost importance (Arnold & Boshoff, 2000). Financial rewards, both variable and fixed, Short Term Incentive Plans (STIP’s) and Long Term Incentive Plans (LTIP’s) are reward schemes used by leadership in the financial services sector with the assumption that it is beneficial to employers (PricewaterhouseCoopers, 2012). This research studied the relationship between employee performance, immediate leadership; strategic direction and reward. The research approach was quantitative in nature using secondary raw data. Statistically analysis was performed using descriptive statistics, Confirmatory factor... , M.Phil.
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An investigation : should organizations move towards team-based recognition?
- Authors: Dhanpat, N.
- Date: 2014-11-23
- Subjects: Incentive awards , Management - Team work , Employees - Rating of , Teams in the workplace
- Type: Article
- Identifier: uj:5537 , ISSN 20392117 , ISSN 20399340 , http://hdl.handle.net/10210/14072
- Description: This paper presents the occasion for organizations to investigate the need to transition towards a team-based approach of employee recognition. A theoretical framework of employee recognition is presented. Employee recognition is largely recognized as a managerial practice, and have been in practice in terms of individual-based recognition within organizations. Many organizations are looking for a way forward to approach this matter in a strategic manner, and understand the implications of team-based recognition on employees and the organization itself. Employee recognition has placed major impact on work performance, team effectiveness and organizational success. The paper explores motivational theories linked to employee recognition and elaborates on the effective utilization of recognition programs. Subsequently, the impact of employee recognition on employees are reviewed. The consequences and implications of team-based employee recognition are further evaluated. The paper is a qualitative study based on utilizing secondary data and presents a conceptual paper. The current study has reviewed various literature on remuneration, compensation, employee recognition, motivation and teamwork. This paper further suggests that organizations needs to be cognizant of the implications and consequences of team-based recognition on employees, work outcomes and employee behaviour.
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Incentive schemes : driving the right behaviour amongst staff translated into improved business performance
- Authors: Morrison, Yoliswa Thando
- Date: 2015
- Subjects: Incentive awards , Incentives in industry , Industrial management
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/55334 , uj:16281
- Description: Abstract: Staff incentive schemes have become increasingly popular in influencing staff to perform more efficiently in the interests of the organisations for which they work. Research has proven that recognition and incentive programmes are indeed a powerful and effective tool for enhancing company performance and profits, contributing to the fact that companies that implement such incentive schemes perform significantly better than their peers who do not have such schemes. Staff incentive schemes however tend to fall short when it comes to driving the right behaviour amongst the staff for whom it is meant for. Gaining a competitive edge in the banking sector is very challenging, given that the South African banking industry is a highly competitive industry and many of the major banks offer similar services and products, making it difficult to distinguish themselves from the competition. Offering exceptional customer service to clients has increasingly become the only way in which banks can differentiate and distinguish themselves from their competitors. The incentive scheme at Absa was implemented in order to drive exceptional customer service. Excellent customer service should benefit the business as a whole with improvements in key measures such as profit and customer acquisition. However, there are various factors such as administrative flaws, industry conditions, as well as the composition of the incentive scheme itself, which may render the scheme ineffective if these are not carefully considered. A mixed-method approach was taken in conducting the research, including quantitative inputs from Absa’s data repository, and qualitative inputs from the research questionnaire. The research found that branch staff opined very strongly about the need to influence the design of the incentive; entry criteria should be more achievable, staff PD ratings not being used as a qualifying criterion, and that management should ensure that the communication around the incentive scheme is always consistent across the entire branch network. The research concludes with recommendations of considerations to be made for future incentive schemes to be implemented. , M.Com. (Business Management)
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Retention preferences and the relationship between total rewards, perceived organisational support and perceived supervisor support
- Authors: Smit, Wilmien , Stanz, Karel , Bussin, Mark
- Date: 2015
- Subjects: Employee retention , Incentive awards , Organizational effectiveness , Compensation management
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/226724 , uj:22931 , Citation: Smit, W., Stanz, K. & Bussin, M. 2015. Retention preferences and the relationship between total rewards, perceived organisational support and perceived supervisor support. SA Journal of Human Resource Management, 13(1):1-13. DOI: http://dx.doi.org/10.4102/sajhrm.v13i1.665. , ISSN: 2071-078X (online) , ISSN: 1683-7584 (print)
- Description: Abstract: Currently there is much debate whether modifying traditional reward packages to focus on the preferences of multi-generations would be essential in attracting, motivating and retaining talent. Total reward factors, perceived organisational support and perceived supervisor support are distinct but related concepts, all of which appear to influence an employee’s decision to stay at an organisation. Research purpose: The objective of this study was to identify the different total reward components that multi-generations prefer as most important for retention. In essence, the study aims to establish possible relationships between multi-generations’ total reward components, perceived organisational support, and perceived supervisor support. Motivation for the study: This study is useful as it conducts a contemporary retention exploration that considers both the emerging demographic workforce shift and the new paradigm shift towards talent management. Research methodology: A quantitative, cross-sectional research design was applied to gather data from employees (N = 303) from different industry sectors in South African organisations. Main findings: The results showed that performance management and remuneration are considered to be the most important retention factors amongst multi-generation groups. Differences between total reward preferences and demographical variables, which include age, gender, race, industry and job level, were found...
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The relationship of share incentive programmes and price book values
- Authors: Loubser, Johan J.
- Date: 2012-06-06
- Subjects: Executives - Salaries, etc. , Merit pay , Profit-sharing , Incentive awards , Valuation management
- Type: Mini-Dissertation
- Identifier: uj:2529 , http://hdl.handle.net/10210/4984
- Description: M.Comm. , The use of equity incentives has gained popularity since the early nineties for various reasons. Some of these are the need to attract and retain executives, management’s desire to share in global asset price growth, aligning managers and shareholders’ objectives and the perceived low cost of granting options as part of the compensation package. The main objective of equity based compensation plans are on aligning management goals with those of shareholders. This study examined the relationship between equity based compensation and price to book values of retail firms listed on the Johannesburg Stock Exchange. Many listed firms replaced fixed salaries of executives with variable performance pay components such as cash bonuses, share purchase programmes, share options or share grants. Researchers are divided whether equity compensation is efficient and there is currently no theoretical or empirical consensus on how equity compensation affects firm performance. The results of the study indicated a statistical insignificant relationship between share based payments and change in price to book values. More effective equity incentive plans need to be put in place as the current share option schemes most firms employ, are not achieving their objectives.
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Total rewards strategy for a multi-generational workforce in a financial institution
- Authors: Bussin, Mark , Van Rooy, Dirk J.
- Date: 2014
- Subjects: Employee competitive behaviour , Incentive awards , Employee motivation
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/226744 , uj:22934 , Citation: Bussin, M. & Van Rooy, D.J. 2014. Total rewards strategy for a multi-generational workforce in a financial institution. SA Journal of Human Resource Management, 12(1):1-11. DOI: http://dx.doi.org/10.4102/sajhrm.v12i1.606. , ISSN: 2071-078X (online) , ISSN: 1683-7584 (print)
- Description: Abstract: Different generations may value and perceive employee rewards differently. This impacts on reward strategies in the workplace which have been specifically developed to attract, retain and motivate staff. A one-size-fits-all approach to reward strategy may not achieve the objectives intended, leading to direct and indirect financial implications for businesses. Research purpose: This study investigated whether perceptions of reward strategy differed across generations in a large financial institution in South Africa. This context was specifically chosen due to the significant competition to attract and retain staff that exists in the financial sector. To contribute to the practical challenges of reward implementation, the study investigated whether specific reward preferences associated with generation exist, and whether offering rewards based on these preferences would successfully attract and retain staff. Motivation for study: South African businesses are competing for skilled staff and rely heavily on a total reward strategy to compensate all generations of employees. Given the financial incentives to retain and attract the most effective staff, it is essential that reward strategies meet their objectives. All factors impacting the efficacy of reward strategies should be considered, including the impact of generational differences in preference. This is of relevance not only to the financial industry, but to all companies that employ staff across a variety of generations. Research design, approach and method: A quantitative survey design was used. A total of 6316 employees from a financial firm completed a survey investigating their experiences and perceptions of reward strategies. Statistically significant differences across different generations and reward preferences were considered...
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Understanding talent attraction : the influence of financial rewards elements on perceived job attractiveness
- Authors: Schlechter, Anton , Hung, Angel , Bussin, Mark
- Date: 2014
- Subjects: Employee retention , Incentive awards , Employee motivation , Employee competitive behaviour
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/226763 , uj:22936 , Citation: Schlechter, A., Hung, A. & Bussin, M. 2014. Understanding talent attraction : the influence of financial rewards elements on perceived job attractiveness. SA Journal of Human Resource Management, 12(1):1-13. DOI: http://dx.doi.org/10.4102/sajhrm.v12i1.647. , ISSN: 2071-078X (online) , ISSN: 1683-7584 (print)
- Description: Abstract: In order to attract knowledge workers and maintain a competitive advantage, it is necessary for organisations to understand how knowledge workers are attracted to different types and levels of financial rewards. Research purpose: This research investigated a set of financial reward elements (remuneration, employee benefits and variable pay) to determine whether knowledge workers perceived them as attractive inducements when considering a job or position. Motivation for the study: In South Africa there is a shortage of talent, largely due to high rates of emigration of scarce skills (human capital). Financial rewards or inducements are necessary to attract talent and it is essential to assess which of these rewards are most successful in this regard. Method: A 23 full-factorial experimental design (field experiment) was used. The three financial reward elements (remuneration, employee benefits and variable pay) were manipulated in a fictitious job advertisement (each at two levels). Eight (2 × 2 × 2 = 8) different versions of a job advertisement were used as a stimulus to determine the effect of financial reward elements on perceived job attractiveness. A questionnaire was used to measure how participants perceived the attractiveness of the job. A convenience sampling approach was used. Different organisations throughout South Africa, as well as corporate members of the South African Reward Association, were asked to participate in the study. Respondents (n = 169) were randomly assigned to the various experimental conditions (i.e. one of the eight advertisements). Data were analysed using descriptive statistics. A full-factorial analysis of variance was used to investigate if significant main effects could be found...
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