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  • A Study On Reward Management System

    Diunggah oleh

    Aflall A Mahamood
    28 tayangan12 halaman
    This study examines the reward management system at Ford Motor Company. The objectives are to conduct a literature review on reward systems, study and analyze Ford's system, and provide inferences. Ford uses both financial (e.g. stock options, mutual funds) and non-financial (e.g. employee assistance programs) rewards to motivate, retain, and align employees with company goals. The reward system aims to improve satisfaction and retention through programs that strengthen employee-manager relationships and give employees more autonomy through team-based work.

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    A Study on Reward Management System

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    This study examines the reward management system at Ford Motor Company. The objectives are to conduct a literature review on reward systems, study and analyze Ford's system, and provide inferences. Ford uses both financial (e.g. stock options, mutual funds) and non-financial (e.g. employee assistance programs) rewards to motivate, retain, and align employees with company goals. The reward system aims to improve satisfaction and retention through programs that strengthen employee-manager relationships and give employees more autonomy through team-based work.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai PPTX, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    28 tayangan12 halaman

    A Study On Reward Management System

    Diunggah oleh

    Aflall A Mahamood
    This study examines the reward management system at Ford Motor Company. The objectives are to conduct a literature review on reward systems, study and analyze Ford's system, and provide inferences. Ford uses both financial (e.g. stock options, mutual funds) and non-financial (e.g. employee assistance programs) rewards to motivate, retain, and align employees with company goals. The reward system aims to improve satisfaction and retention through programs that strengthen employee-manager relationships and give employees more autonomy through team-based work.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai PPTX, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 12

    A study on Reward Management System

    Presented by Rajath V. Salian

    Aim of the study

    To conduct a study on reward management system with respect to Ford motor company

    Objectives of the study

    To conduct a literature survey on reward management system and its importance in Ford motor company

    To study and analyze the findings with reference to reward management system in Ford motor company

    To provide inferences

    Reward Management System (R.M.S)

    Rewards are of 2 types:


    Financial Non-financial

    The present trend is to provide employees with employee stock options ( ESOPs)

    Purpose of such system is to


    Motivate Retain top performing employee Align employee targets with organizations goals

    Ford Motor Company

    American multinational automaker based in Dearborn, Michigan

    Founded by Henry Ford As of 2010, Ford hires 164,000

    R.M.S in Ford Motor Company

    Purpose of this system:

    Development and implementation of programs and processes to improve employee satisfaction and retention

    Development and delivery of interventions to strengthen

    employee-manager relationships

    Shift from manufacturing process to team based to provide authority to employees

    Use of intranet to convey information Enables employees to communicate and voice their opinion

    Employee Involvement (EI)


    Mutual growth funds (MGF) Employee assistance plan (EAP) Also provide consultation for stress management and risk evaluations

    Other methods

    Employee of the month Who made the moment Magic moments club

    Conclusion

    We have seen and understood the meaning of reward management system

    We has seen the reward management used in ford motor company

    10

    References

    http://www.fordtechservice.dealerconnection.com/vdirs/re wards/default.asp?pageid=rewards_main extracted on 31/07/2011.

    http://www.managerwise.com/article.phtml?id=246

    extracted on 31/07/2011.

    http://ivythesis.typepad.com/term_paper_topics/2009/06/r eward-system-in-organizations.html extracted on 31/07/2011.


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    http://customerplus.co.uk/downloads/ford_retail_case_study.pd f extracted on 01/08/2011.

    http://www.scribd.com/doc/23862586/reward-management extracted on 01/08/2011.

    http://en.wikipedia.org/wiki/ford_motor_company#ford_motor
    _company extracted on 01/08/2011.

    http://www.ford.co.za/servlet/satellite?c=dfypage&cid=117881 8935964&pagename=wrapper&site=fmcsa extracted on 31/07/2011.


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