SOLVED HRM613 Assignment 1 Solution and Discussion

[zareen]

Fall 2019
ASSIGNMENT PERFORMANCE MANAGEMENT (HRM613)
Due Date: November 22nd
Total Marks: 10 Topic: Rewards
OBJECTIVE OF ACTIVITY
To enable students to understand the elements of rewards that help to motivate employees for improved organizational performance and to reduce employee’s turnover.
LEARNING OUTCOMES
After attempting this assignment students will be able to:
Comprehend the importance of reward system and the factors which contribute to develop organizational reward.
THE PREMISE
Horizon’s services Ltd. founded in 2001 with the specialized plumbing, heating and air- conditioning business in Pakistan. The company had quickly become the market leader by providing quality services to commercial property businesses. By 2016, the quality of the services reduced due to the low motivation of their employees. Thus, the customers decided to end their contract with Horizon’s services Ltd. and hire their own “handymen”.
After the through workout to improve the current critical situation of the company, Horizon’s services Ltd. decided to offer suitable rewards to motivate its workforce, which ultimately help to improve the quality of customer services and efficiency. For this, they decided to reconstruct his workforce into territories and each worker was supposed to operate the given territory as their own business.
This reconstruction proved to be very successful. The sense of complete ownership in terms of reward is the effective solution adopted by the company in order to improve the performance. Each employee was able to schedule their own work, handle their own equipment, and develop their advertising campaigns in the designated territories. Besides, these were the rewards that each employee desired at Horizon’s services Ltd in order to improve the performance.

REQUIREMENT
You are required to write types of organizational rewards and enlist the categories. Also, identify the type of reward that Horizon’s services Ltd. had chosen to motivate its workforce in order to sustain its company’s operations. Support your answer with sound justification. 2(type & category) +2(type & category) +2(identification)+4(Justification)=10 Marks)
Important:
Grace period of extra 24 hours after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above-mentioned due dates should always be treated as final to avoid any inconvenience.
Important Instructions:
• Take help from internet for collecting the information.
• Carefully watch relevant lectures and consult the relevant material from handouts along
with recommended books.
• Attempt the assignment by yourself and it will be entertained positively.
Other Important Instructions: Deadline:
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.
Formatting guidelines:
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.
Referencing Guidelines:
• Use APA style for referencing and citation. For guidance search “APA reference style” in Google and read various website containing information for better understanding or visit http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html
Rules for Marking:
Please note that your assignment will not be graded or graded as Zero (0), if: • It is submitted after the due date.

• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc. • It is cheated or copied from other students, internet, books, journals etc.
Note related to load shedding: Please be proactive
Dear Students!
As you know that Pre-Mid-Term semester activities have been started and load shedding problem is also prevailing in our country now a days. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.
Good Luck!

[zareen]

TENTATIVE SOLUTION:
The Rewards are categorized into two group’s financial and non-financial rewards. The financial rewards are also called extrinsic rewards and non-financial rewards are called intrinsic rewards. Financial rewards:
This type of rewards comprises of:
• Basic pay
• Contingency pay
• Bonuses
• Commission
• Incentives
• Pension
• Gratuity
Non-Financial rewards:
This type of rewards comprises of:
• Recognition
• Employment security
• Challenging work
• Growth opportunities
• Personal relationship at workplace
• Autonomy
Horizon’s services Ltd. had chosen non-monetary rewards to motivate its workforce, which ultimately helps to improve the quality of customer services and efficiency. As a result, employees are motivated to contribute more towards the organizational success because they are given recognition and appreciation for their contribution. Moreover, employees have been given autonomy as a non-financial reward so that employees have the choices that they manage their own actions.

[zareen]

TENTATIVE SOLUTION:
The Rewards are categorized into two group’s financial and non-financial rewards. The financial rewards are also called extrinsic rewards and non-financial rewards are called intrinsic rewards. Financial rewards:
This type of rewards comprises of:
• Basic pay
• Contingency pay
• Bonuses
• Commission
• Incentives
• Pension
• Gratuity
Non-Financial rewards:
This type of rewards comprises of:
• Recognition
• Employment security
• Challenging work
• Growth opportunities
• Personal relationship at workplace
• Autonomy
Horizon’s services Ltd. had chosen non-monetary rewards to motivate its workforce, which ultimately helps to improve the quality of customer services and efficiency. As a result, employees are motivated to contribute more towards the organizational success because they are given recognition and appreciation for their contribution. Moreover, employees have been given autonomy as a non-financial reward so that employees have the choices that they manage their own actions.