Employee Motivation Multigenerational Place -Myassignmenthelp.Com

Question: Discuss About The Employee Motivation Multigenerational Place? Answer: Introduction Over the last few decades, the global commercial framework has undergone considerable modifications, much of which can be attributed to global phenomena like Globalization and Liberalization, which have significantly contributed in making the global business management environment more integrated, inclusive as well as competitive (Gupta Shaw, 2014). With more supply side players entering in almost all the production sectors, the competition to capture bigger market share and earn more profitability has increased. This in turn has resulted in changes in the operational framework of the business across the world and the mode of utilization of the resources present with the organizations, which also includes the human resources (Voegtlin, Patzer Scherer, 2012). Keeping this into consideration it becomes apparent that the demand for workers, as the demand for other factors of production has been increasing, which in turn increases the number of options of employment available to the eligible work forces considerably. This has been even facilitated by the easy and convenient mobilizations of workers across different geographical boundaries (Jiang et al., 2012). The increased scopes of employability of global labor forces, especially skilled ones, in turn makes it one of the crucial challenges for the businesses to retain their existing employees and to keep on encouraging and motivating them to work more efficiently for the same business (Alfes et al., 2013). The concerned report takes this aspect of employee management and retaining in consideration. For the purpose of in depth exploration, it refers to the case of the contemporary strategy taken by the mobile division of one of the tech giants-Samsung. Samsung has rewarded their employees with high bonuses in spite of their comparatively unimpressive performance in the recent period. The report tries to discuss the causes and implications of such rewarding policy taken by the company and the issues of concern arising out of the same (Alfes et al., 2013). Article summary (News Story) The article by Kris Carlon, dated January 27, 2016, discusses about the reward and motivational practices adopted by the management of the mobile production unit of Samsung company, for their employees, in the year 2015. As per the assertions of the article, the mobile division of the company did not perform up to the expectation in the concerned year, much of which can be attributed to the increasing number of competent rivals with more cost efficient production process, which helped them to capture a major share of the global mobile phone market (Carlon, 2018). However, instead of penalizing the employees for relatively poor performance of this specific division for that year, the company actually resorted to the strategy of paying them maximum bonus (which is capped at half of their individual salary) for their dedication and contribution to the operations of the division. This has been mainly done by the company to encourage as well as enhance their ability to handle the challeng es, which the division has been facing in the contemporary period (Chang, 2012). This also had a positive implication on the employee retaining aspects as the company was saved from a credible mass walk out of the employees, which would have most likely happened if the bonuses were not paid to them (Buller McEvoy, 2012) . However, as the article suggests, this high bonus of 50% of the salary of the employees, has been awarded to poorly performing mobile division of the company, while most of the other divisions of the company have not been treated equally. The battery division, for example received only 3% and the electronics division got 10%. The only division to get bonus at par with the mobile division is the highly profitable semiconductor sectors of the company, while another profitable division of software and technology of the company received 45% of their salary as bonus (Jung, 2014). The above decision of the company regarding awarding bonus to their employees, especially to those in the comparatively low performing mobile sector, can be analyzed and interpreted with the help of the Strategic Human Resource Management framework and the implications of the same in the global scenario (Sparrow, Brewster Chung, 2016). Rewarding the employees: Human Resource Implications From the above discussion it can be asserted that there has been a slow down in the otherwise highly profitable and flagship section of Samsung, that is the mobile and smart-phone division, which apart from the concerned article, has also been supported by other empirical evidences, as can be seen from the following figure: As can be seen from the above figure, the surging profit and revenue generation of the firm, which had been consistently increasing from 2010 to 2013, plunged deep down post 2013 and in 2014-2015, the sector performed considerably poorly than its previous performances in terms of profit generation (Njanja et al., 2013). Much of this can be attributed to the increased competition, which the company has been facing in the recent few years, with more and more credible and competent players coming in the global mobile phone market, with equally good or better devices at lower costs (Budhwar Debrah, 2013). Another reason behind the company losing out its profitability considerably has been the incidents of malfunctions of some of the popular handsets of the company, which led to the losing out on a significantly large clientele (Manzoor, 2012). However, the company still decided to pay high bonuses to the employees of the mobile division, instead of penalizing them due to their poor performance. This decision on part of the company though may seem to be irrational and non-profitable for the same has significant implications in the human resource management of the company (Clegg, Kornbergernn Pitsis, 2015). There may be several crucial reasons behind this strategic plan of the company, which are discussed as follows: Employee Motivation (Theme 1) In the contemporary global scenario, with increased competition in every industrial sector, it is of immense importance for the companies to continue to improve the efficiency of their operational framework in order to sail through and to keep on having competitive edge over their rivals. This in turn helps the companies to increase their profitability and future prospects in a sustainable manner (Dobre, 2013). For the purpose of ensuring profitability and sustainability, the companies need to take into account that the resources which they use for production process are efficient and productive enough. As employees fall in the category of most vital and long term resources required for any kind of business, it is of utmost importance to ensure that the work force within the companies are competent and more productive than their counterparts in the rival companies (Ramdhani, Ramdhan Ainissyifa, 2017). For the purpose it is needed to keep the employees motivated enough to keep on working with increased enthusiasm and vigor for the company with time. A motivated and dedicated work force can contribute significantly in the long-term prospects and profitability of the company, whereas a de-motivated employee structure reduces the productivity and competitiveness of the companies to a considerable extent (Bradler et al., 2016). Keeping this into consideration, in the recent global framework, there exists several strategies in the hands of the human resource department of the companies, to keep their employees motivated and dedicated to their work. Of these strategies, one of the most effective ones is the strategy of rewarding and recognizing the employees of the concerned company (Njoroge Yazdanifard, 2014). Recognizing the efforts of the employees make them feel important and appreciated by the company, which encourages them to put even more effort and improve their quality of their work even more (Jackson, Schuler Jiang, 2014). Small initiatives on part of the company, of recognizing the extra efforts of the employees also makes them feel free to think and come out with innovative ideas for increasing the productivity and profitability of the firms, which thereby benefits the company and takes it closer to its long term goals (Muogbo, 2013). However, though these verbal recognitions work to some extent in encouraging the employees, it is not sufficient to keep them working with same enthusiasm. For this materialistically rewarding them poses as a better strategy. The reward may be in kind or in cash. In general, the most widespread ways of rewarding the employees, that are practiced by the companies across the world is that of providing them with monetary incentives and cash prizes, which are given to them in terms of performances bonuses after the completion of a specific period or task (Pichler, 2012). The practice of providing the employees with cash prizes and rewards, according to their performances increases their welfare and contributes significantly in motivating them to work harder. Often there exists rewarding frameworks in the management structure of the companies which rewards the employees a percentage of their individual salaries, the percentage increasing according to the efforts paid by the employees (Brewster et al., 2016). The benefits of rewarding the employees are mainly as follows: The employees view these cash rewards as the worth and appreciation given to their efforts and get motivated to increase their efforts for their personal benefits. Rewards set transparent, high yet achievable performance standards for the employees, who try to achieve the milestones to receive the rewards kept for the specific milestones, thereby increasing the productivity, efficiency and long term sustainability of the company itself (Cho Perry, 2012). Rewarding the work teams, motivates and facilitates productive cooperation among the members of the teams and increase their individual as well team performances, creating a relaxed yet productive work culture in the companies contributing to increased cohesiveness among the employees (Tiwari Saxena, 2012). The employees feel that their efforts are not taken for granted. Often the companies resort to reward their employees even when they have not increased the profitability of the companies. This is mainly done with the objective of preventing the employees from getting demoralized and to make them feel that their efforts are appreciated, thereby motivating those to increase their efforts even more, taking into account the long term benefits of a motivated and loyal work force (Kim Sung-Choon, 2013). This can considerably explain the decision of Samsung Mobiles, of rewarding their employees with high bonuses in spite of less than standard performance of this sector in 2015. Employee Retaining (Theme 2) Apart from employee motivation, another important reason behind the implementation of various reward and recognition strategies present in the commercial framework is the aspect of employee retention in the company itself (Oladapo, 2014). The employees, especially the skilled ones and the ones who have been working with the company for prolonged periods are the assets for the companies and it is important for the companies to retain them. This is specifically because if they are absorbed with higher salaries by the rival firms, then it can reflect considerably in the fall in the profit and sustainability of the company itself (Das Baruah, 2013). In this aspect, the practice of rewarding the employees often proves to be effective for retaining the employees in the companies themselves, especially when the companies go through rough patches and there are high chances of resignations on part of the employees, with more lucrative options in the industry (Aguinis, Gottfredson Joo, 2012). Financial rewards, mostly in form of bonuses to the economics in terms of their performances and efforts increases their economic welfare, which decreases their incentives to search for other jobs (James Mathew, 2012). Retention of productive and skilled forces, though may increase the short-term costs of the firms, it may have long-term positive implications on the profitability of the companies. This also makes the rewarding strategy of Samsung relevant in the real case scenario, as the same has managed to retain its workforce over the years and keep the number of employees more or less consistent as can be seen from the following figure: Employee Performance Management (Theme 3) Rewarding the employees is also one of the most common practices by the commercial companies in the aspect of the management of the performances of the employees (Awadh Alyahya, 2013). Rewards and incentives, especially in the form of cash or financial incentives are mostly treated by the employees as a reward for their superior performance and encourages them to improve their performances and come out with ideas and practices, which by augmenting their productivities benefits the companies considerably (Jiang et al., 2012). Managing Diversity (Theme 4) Diversity in a workforce helps the companies to achieve profits and to manage diverse operational framework. To increase the productivity and long term sustainability of the company, it its therefore necessary to manage diversity in the workforce of the company (Barak, 2016). Rewarding and recognizing the diverse workforce in the company according to their abilities and encourage productive and efficient working of the same in the company (Nankervis et al., 2013). Those receiving rewards are motivated to work more while those who do not thrive to work better, thereby making the company excel in every aspect. This explains the strategy of Samsung of rewarding their mobile division in spite of their inferior performance in the concerned year (Urbancov, ?ermkov Vostrovsk, 2016). Conclusion The step taken by the Samsung Company, of rewarding their mobile division workers, can be categorized under the common strategic human resource management practice rewarding the employees to motivate them, retain them and improve their performance and efficiency. 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