CHAPTER Within this chapter the numerous stages

CHAPTER 01

INTRODUCTION

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1.1.
OBJECTIVE OF RESEARCH:

The first chapter of this
research will incorporate the introduction section. Although in stature this
section is one of the smallest in this dissertation the introduction plays a
pivotal role as it is the starting point for research and outlines what the
aims of the research are the background of the study what the other chapters
entail and provides the reader of an outline for the remainder of the research.
The second chapter is made up of a literature review. The purpose of this
section is to inform the research methodology and allow for a critical
assessment of the work of others in this area. Evaluations and discussions will
be made, focusing on written work and research that has already been carried out
in the appropriate areas regarding this dissertation. The literature review for
this section will primarily look at the areas concerned with motivation and
employee reward schemes. A sample of the main theories of motivation will be
provided along with a distinction between the two types of motivation theories;
content and process theories. Alongside this there will be a critique of the
major theorists and the ideas they have formulated. The next part of the
methodology will look at the literature and theory surrounding employee reward
looking at how employee preferences may choose between either a financial or
non-financially based reward system where the option is available. Again a
critique of the advantages and negatives of choosing one specific reward
package will be outlined in the form of alternate options available to
employees. Finally employee perception, with regards rewards systems and
incentives will be synthesized for the reader also. Chapter three will focus on
the methodology used in this research. Within this chapter the numerous stages
that make up this very detailed section will be outlines to clarify the use of
the chosen methodology. This is a highly important chapter as the researcher
gives a full outline and basis for the reasoning behind choosing the suitable methodology
which enabled the research to be carried out. Within chapter four the results
and findings of the quantitative research will be portrayed using the
appropriate visual aids such as bar charts, pie charts and graphs, along with
an explanatory note regarding the findings of each question. These findings
will then be analyzed using suitable software such as Microsoft Excel and Word.
Alternately the data may be analyzed by variable by identifying major variables
within the study and portray the suitable and relevant data of each variable
from the findings. Chapter five will be the final chapter of the research and
will contain the conclusions and recommendations. This section allows the
researcher to apply a bird’s eye view of the study and draw upon the key areas
and aspects of the topic to come to a final conclusion with regards the study
and formulate any recommendations to aid with any further research in such
areas. This section allows the researcher to look back over the topic and
analyses if their opinions and views regarding such an area have been altered
and what changes could have been made to the study. Basically this section
deals with how you would do things differently if you were to start the
research again.

1.2
SIGNIFICANCE OF RESEARCH:

In today’s corporate world
competitiveness in securing the right employees with key skills and attributes
for the job is at an all-time high especially in multinational companies where
the demand for a skilled and educated workforce is particularly intense.
However while attracting employees to a company is a pivotal issue providing a
substantial and appealing reward package to promote motivation and entice
employee loyalty to reduce the level of staff turnover is imperative.

The productivity of multinational
companies in an intense corporate environment relies on the work motivation of
its employees. This research aims to investigate what motivates an employee and
examines the properties and importance of various correctly implemented reward
systems. As a worthwhile topic of research this dissertation should show how an
adequate use of financial and non-financial rewards can increase an employee’s
motivation levels and in turn increase their commitment and loyalty to the
organization. Within researching such an area it is important to acknowledge
that many employees are unique and what motivates one person may be vastly
different to another person. Taking this into account should show how effective
employee reward does encourage motivation. ‘Acknowledging these differences
often necessitates that varieties of motivational approaches be utilized’
(Staren, 2009). While numerous research has been carried out in the areas
surrounding employee reward, focusing on benefits packages, performance related
pay and correlating factors such as staff retention this research aims to
explore motivation and how employee reward both financially and non-financially
impact on employee motivation in the workplace. Seeing as motivation plays such
an important role in employee performance and improving factors such as
productivity and efficiency (Shields, 2007), this research is important to look
at what kind of reward systems and how they act out in motivating employees,
particularly in Multinational companies. Without a human capital involvement in the workplace the
functionality of an organization may come into question when efficiency and
productivity are looked at. Because of this a key area of human resource
management surrounds motivation. Motivation plays a huge part in any
organization from the top level management to entry level employees and those
employees in between (Kirstein, 2010). Understanding motivation as part of the
broader aspect of human behavior is a complex area. With this in mind many
managers in the workplace have not made any further progress in understanding
what motivates their employees than that of the research carried out by their
equivalents at least thirty years previous (Kovach, 1980). Throughout the
Celtic Tiger era, background research shows the researcher that many companies
tended to adopt more financially based incentives as a means to motivate
employees. However, in recent times in every area of business, companies are
trying to reduce costs, thus the availability to offer financial incentives as
a means of motivating effectively may be jeopardized. If this is the case the
correct research must be carried out to find out if alternate means such as
non-financial incentives are as equally effective in motivating employees. Another
reason why this area is such a worthy topic of study is to look at the effect
the post Celtic Tiger era had on reward packages and how current Irish
employees feel their current reward packages impact on motivation.

The aim of this
research was to use any available literature that had been carried out
previously in this area along with collected data using suitable methodology to
investigate and carry out the set of objectives for this dissertation. This
research would be collected by means of the objectives of this research, which
were as follows:

1.    
Explore how reward systems positively motivate employees.

2.    
Explore employee perception of the motivating effects of
reward and benefits.

As will be shown
in the literature review, there are numerous theories developed to try and
understand motivation and how employees are motivated. However for the nature
of this research on of the simplest ways to do this is to ask employees what
motivates them. While carrying out such analysis, many researchers compiled data
from employees with varying demographic, education and level of skills
backgrounds. This research aims to emulate the findings of previous research in
showing while that the importance of motivating factors might differ depending
on a group of employees, certain motivating factors are often highly regarded
according to Lindahl, 1949 (as cited in Sonawane, 2008; Harpaz, 1990; Kovach,
1980; Linder, 1998; Kinnear and Sutherland, 2000).

 

 

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