Mployee Rewards System at Marriot Hotels
Describe and critically evaluate the approach to employee reward taken by an organisation of your choice, identifying the key reward choices made as per the following:
Key reward choices:
i?? What to pay for, job size, time, performance, skills/qualifications or some other person centered attribute or behaviour;
i?? Whether to pay for seniority (time served) or for performance;
i?? What position to adopt n the market i?? at or close to the median pay levels in the market, within the upper quartile or the lower quartiles;
i?? Whether to place primary focus on internal equity when determining pay or be more concerned with external benchmarks;
i?? Whether to operate a centralized or decentralized approach to reward or hybrid with some central control and a degree of localized latitude;
i?? Whether to build hierarchy into the reward system such that there are seniority or status related rewards or to devise a harmonized, single-status approach;
i?? The precise nature of the reward i??mixi??.
Your assignment answer should cover the following:
1. What messages does the reward strategy in the chosen organisation convey?
2. To what extent does the reward strategy in the organisation drive individual performance?
3. Suggest some ways in which this might be improved
4. You should use organisational examples and theoretical evidence as appropriate.
The learning outcomes for this assignment are:
i?? Distinguish between various compensation programs and rate different incentive plans as motivations in particular situations
* Formulate simple programs of policies and guidelines for motivation of employees, effective communication, and safety concerns