Impact of Flexible Benefit Schemes on Employee Motivation

Table of Contents (Jump to)

Purpose of the Brief and Relation to Phase 2

Introduction and Background of Research

Research Aims and Objectives

Aims

Objectives

Research Questions

Proposed Research Methods

Research Design

Data Collection

Data Collection Methodology

Project Plan, Budget and Timeline

Issues to be Considered

Potential Use of the Research Findings

References

Purpose of the Brief and Relation to Phase 2

Research demonstrates that the more motivated and drew in staff an organization has, the better the levels of work performance. Basically, this deciphers into a more gainful business and it accordingly bodes well to put resources into staff generally as you would your clients (Anderfuhren-Biget, Varone, Giauque, & Ritz, 2010). So, the purpose of this research study to investigate that either flexible benefits schemes motivate employees better or not. This research will find out the relation between the flexible benefits schemes and employees motivation and the best mix of flexible benefits schemes that can help the motivate the employees to attain the best level of work performance.

Introduction and Background of Research

Associations are just ready to make progress through their kin and the diligent work that they do. Supervisors and pioneers assume a key part in this procedure, facilitating gatherings of gifted people to meet imparted group and authoritative objectives. Colleagues need to feel motivated, propelled and enabled by their chiefs so as to need to perform at their crest and one of the center difficulties confronting both pioneers and associations is the way to interface with and motivate these gatherings of people to convey as a group and guarantee a beneficial and proficient workforce (Furnham, Eracleous, & Chamorro-Premuzic, 2009).

There are a scope of components that impact staff motivation including the essentials, for example, working conditions, pay and benefits. However correspondence, recognition and rewards can have immense influence in making staff feel esteemed and acknowledged (Kuvaas, 2006). As per examination directed by the Chartered Institute of Personnel and Development, the United Kingdom’s driving proficient body for those included in the management and improvement of individuals, motivated employees perform better, are less inclined to be missing or quit.

Flexible benefits can help drive performance and enhance staff motivation, for example, offering vouchers as a feature of a flexible benefits programs that extends compensations further, or long-administration recompenses that perceive and reward staff dependability. Vouchers are dependably a prominent decision as they permit the member flexibility by the way they spend their reward. They can, for instance, be utilized for basic deals motivating forces to center deals staff on particular targets or items, and in addition more extensive recognition for designation schemes or grants for remarkable accomplishment (Manolopoulos, 2007).

Notwithstanding, this is not a fleeting fix and to be genuinely powerful, motivating forces and motivation programs must be decently arranged, long haul and predictable in the event that they are to make managed change. Employee motivation schemes are best when the methodology of procuring the reward and the reward itself is adjusted to the employee’s way of life instead of must be united on to it. Picking a blessing voucher as a method for reward gives the force of decision to the single person as well as be for the entire crew (Roos & Van Eeden, 2008). The most imperative component is that the voucher ought to preferably be spent on a treat or extraordinary buy as opposed to the week after week shopping.

Feedback from clients has demonstrated that managers are additionally progressively searching for financially savvy approaches to offer benefits to low maintenance employees and others on lower pay rates. In the meantime these employees are searching for benefits that will empower them to make their compensations extend the extent that this would be possible (Masaiti & Naluyele, 2011).

Restricted of doing this is to offer an assortment of flexible benefits on top of any altered package that is appropriate to them. One choice that remaining parts prominent with both businesses and employees are schemes whereby employees can set aside a certain extent of their month to month wages to purchase marked down retail vouchers. This outcomes in generous investment funds for them throughout the span of a year on their consistent store and family unit shopping in addition to issues them the flexibility to put something aside for greater yearly occasions, for example, a family occasion. What’s more, with year-end quick approaching now is a decent an open door as ever to support performance inside the organization, particularly with the current credit crunch. Christmas is a lavish time for everybody so any chance to support salary will be invited with open arms by staff. Employees admire a well thoroughly considered impetus crusade as an opportunity to procure prompt rewards (Eldridge & Nisar, 2006).

Whatever project of rewards and recognition an organization utilizes they must be unmistakably conveyed, achievable and proper to the group of onlookers making as e-shots, mailers and publications. Regarding rewards flexibility should as much as possible. Vouchers are the perfect arrangement as they can go towards decreasing that Christmas shopping bill for occasional treats at home. Notwithstanding, in the same way as pets, vouchers aren’t only for Christmas; they are a mainstream motivator reward choice lasting through the year (Eldridge & Nisar, 2006). We see an immense increment in voucher reclamations from long running impetus programs and regular strategic fights in the run up to the bubbly season (Jorgensen, 2009). So we know they work. It is basic that flexible recognition and impetus rewards are additionally utilized on a continuous premise as a part of request to give a moment reward to an occupation well done.

Research Aims and Objectives

Aims

The aim of the study would be restricted to the impact of flexible benefits schemes on the employee’s motivation in an organization. The study would concentrate basically on flexible benefits schemes and its effect on employee’s motivation.

Objectives

Following will be the objectives of this research study

• To identify the current flexible benefits schemes of the company
• To identify the current level of motivation employees have.
• To identify a relationship between flexible benefits schemes and employees motivation
• To recommend the most effective flexible benefits schemes.

Research Questions

Following will be the research question of this study.

• What are the best mix of flexible benefits schemes?
• What are the factors that help in motivate employees?
• Impact of flexible benefits schemes on employee’s motivation.
• Which flexible benefits schemes will optimize the employee’s motivation?

Proposed Research Methods

Research Design

The research design utilized for the study is the enlightening methodology. This was utilized in light of the fact that it would help acquire data concerning current status of a wonder that portrays what exists. This would help attain to the reason for the study and reach significant determination regarding the effect of flexible benefits schemes on employee’s motivation.

Data Collection

Both quantitative and qualitative methodology was additionally utilized for the study which included gathering and examining the data accumulated in progression. The quantitative data was gathered first to figure out the best mix of flexible benefits schemes that optimize the motivation level of management and staff which ultimately effect on the work performance. The qualitative data was gathered and examined in the arrangement to help clarify, or expound on, the quantitative results acquired in the first stage.

Data Collection Methodology

The techniques utilize to gather data base on both qualitative and quantitative data. Quantitative data will be gathered by developing to a questionnaire and after that fill it up by the staff and management regarding the flexible benefits scheme would suitable to theme. The Likert scale will be most suitable to gather a data in quantitative terms. Where, the qualitative data will be gathered by interviewing strategy. A structured interview will held with staff and managements to collect the qualitative data.

Project Plan, Budget and Timeline

The financial resources are needed to complete this study as the referenced book and other online library are the main source of research articles and secondary data. Time table is compromises on different tasks needed to completed and the time duration needed to complete it.

Issues to be Considered

The ethical issues involve in this study are plagiarism and unethically use of research participants personal information. The plagiarism is avoided by extensive use of references and for the unethically use of research participants personal information, it will make sure to collect just opinion of participants not their personal information.

Potential Use of the Research Findings

Research has demonstrated that a business’ progressing achievement depends to an expansive degree on having exceptionally energetic employees who are gainful and innovative (Hegewisch, 2009). So it is critical to comprehend the connection in the middle of motivation and performance and find what motivates your employees. Similarly imperative is the manner by which you deal with employee’s performance and reward them, not simply regarding pay, for instance, through recognize and different impetuses. Profoundly energetic employees are liable to go that additional separation for you. Anyhow offering important motivators is not exactly enough, you likewise ought to screen the adequacy of the motivations.

Conclusion & Recommendations

Chiefs who perceive the “little wins” of employees, advance participatory situations, and treat employees with reasonableness and appreciation will discover their employees to be all the more exceptionally energetic. One organization’s supervisors conceptualized to think of thirty capable rewards that cost little or nothing to actualize (Kelly & Kalev, 2006). The best rewards, for example, letters of honor and time off from work, upgraded individual satisfaction and self-confidence. Over the more extended term, earnest applause and individual motions are much more viable and more efficient than recompenses of cash alone. At last, a program that consolidates financial prize frameworks and fulfills characteristic, finishing toward oneself needs may be the most powerful employee help.

References

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2. Eldridge, D., & Nisar, T. M. (2006). The significance of employee skill in flexible work organizations. The International Journal of Human Resource Management, 17(5), 918-937.
3. Furnham, A., Eracleous, A., & Chamorro-Premuzic, T. (2009). Personality, motivation and job satisfaction: Hertzberg meets the Big Five. Journal of Managerial Psychology, 24(8), 765-779.
4. Hegewisch, A. (2009). Flexible working policies: a comparative review: Citeseer.
5. Jorgensen, H. (2009). Flexible labour markets, workers’ protection and the security of the wings”: a Danish flexicurity solution to the unemployment and social problems in globalized economies”: CEPAL.
6. Kelly, E. L., & Kalev, A. (2006). Managing flexible work arrangements in US organizations: formalized discretion or ‘a right to ask’. Socio-Economic Review, 4(3), 379-416.
7. Kuvaas, B. (2006). Performance appraisal satisfaction and employee outcomes: mediating and moderating roles of work motivation. The International Journal of Human Resource Management, 17(3), 504-522.
8. Manolopoulos, D. (2007). An evaluation of employee motivation in the extended public sector in Greece. Employee Relations, 30(1), 63-85.
9. Masaiti, G., & Naluyele, P. N. (2011). Strategies to retain and motivate employees in Africa: Examining the case of the ministry of education in Zambia. African Journal of Political Science and International Relations, 5(8), 409-423.
10. Roos, W., & Van Eeden, R. (2008). The relationship between employee motivation, job satisfaction and corporate culture: empirical research. SA Journal of Industrial Psychology, 34(1), 54-63.