The relationship between employee rewards and poor motivation in a Essay

The relationship between employee rewards and poor motivation in a Restaurant in the UK - Essay Example Interestingly, the same trend in turnover is also being observed in the United States (US) and in Germany (US Department of Labour, 2010; Endter, 2011). A number of factors were examined in various researches which tackled the issue of employee turnover. Blomme, Tromp, and Van Rheede (2008) suggested that performance rewards may be positive predictors of turnover; whereas, Robinson and Barron (2007) argued that low job satisfaction, not extrinsic rewards, are strongly associated with turnover. Theoretically, however, Jones, et al. (2003) maintained that recognition and appreciation, as well as a system of rewards, are necessary to boost employee motivation. In this regard, Walker and Miller (2010) consider incentive pay, bonuses and even non-monetary rewards to be effective modes of developing motivation, provided that the motivators used are congruent with employees’ needs and desires or that the motivators may be associated to their reasons for working. A look at the motivat or-hygiene or two-factor theory enunciated by Frederick Herzberg in the late 1950s posited that motivating factors are intrinsic elements of a job which lead to the satisfaction of an employee, while hygiene factors are the extrinsic elements of the work setting which cause dissatisfaction of an employee. ... Accordingly, Herzberg’s motivator-hygiene theory considered rewards system (i.e., salary and benefits as job dissatisfier; whereas Jones, et al. (2003) and Walker and Miller (2010) among others, believe otherwise. Moreover, Landy and Conte (2010) underscored the significance of examining the â€Å"level of success with various motivators to know how to increase or maintain work motivation for any individual† (p. 367). It is in the context of Landy and Conte’s assertion that this study is being proposed to investigate the relationship between employee rewards and motivation in a UK restaurant. Informal interviews with several employees in two branches of a restaurant in Bournemouth, UK revealed a prevailing attitude of discontent in their workplace among the staff. The interviewees confided that they are grossly dissatisfied with their pay, but they admitted they can not speak for the others. The series of casual conversations with a few restaurant staff provided the motivation for this proposed study. The research will verify the proponent’s position that there is a significant relationship between employee rewards and motivation among the employees in the two branches of the restaurant from the perspective that there is a positive link between satisfaction with the rewards system and the work motivation of the staff. If this relationship is confirmed, Herzberg’s theory that the rewards system is a hygiene factor and not a motivating factor will be disproved. Consequently, support can be gained for Walker and Miller’s (2010) confident assertion that â€Å"rewards are useful motivators† (p. 196). Staff satisfaction with the performance appraisal system, performance management system and the rewards

Developing a conceptual framework is an impossible possibility Essay - 3

Developing a conceptual framework is an impossible possibility - Essay Example It works on the determining the basis of theoretical theories, measurement of transactions (e.g. historical value) and their reporting lines to their end users (SA, 2011). Historical View in Conceptual Framework: The sophistication and excessive increase in businesses and accounting disclosures gave birth to the rules and regulations in accounting standards. A generalised approach was established to process the consistency, standardisation and accuracy of accounts based on reporting framework (Archer, 1993). The establishment of accounting framework board was to standardise the accounting practices and provide theoretical basis for measuring the financial reports. It was the earliest basis for establishment of conceptual framework by FASB for accounting concepts, reporting standards and objectives of business operations. The rise of financial scandals such as WorldCom (UK) and BBCI (UK) resulted in establishment of IASC (International Accounting Standards Committee) in 1989, which is responsible for presenting a framework for demonstration and preparation of financial records. It was later succeeded by IASB (International Accounting Standard Board) that is based on the conceptual framework by FASB since 2001. ... IASB can redefine the existing standards, converge, complete the implementations of standards through conceptual framework, and act as a development tool for the new accounting standards (Solomon and Solomon, 2005). A principle-based approach is a significant factor in implying the standards. It should not be just a mere collection of theoretical conventions but a consistent applicable principle that is comprehensive to be applied globally. The existing problem in converging the FASB and IASB is the conflict between revised and converged framework and reporting standards. The reporting standards have hierarchal priority over the framework, as they cannot be easily reflected in preparation of financial statements due to conflicts in concept and mere framework (FRC, 2011). The main debate for enforcement of conceptual framework is due to the consistency of accounting principles, which facilitates effective communication of assumptions, measurements, and reporting frame. It also reduces the impact of implied misrepresentations and excessive assumptions in the standards (Zeff, 1999, pp. 89-131). The converged standards need to be developed effectively to harmonise the accounting practises and procedures. The framework can increase or decrease the potential accounting treatments for a more diversified application globally. Lastly, the published accounting standards should be consistent with the theoretical concepts of accounting practices worldwide (Solomon and Solomon, 2005). Shaping Accounting Theory Theoretical formation is based on concept, hypothesis, and systematic structure of accounting principles and objectives. It can either be formulated by deductive or inductive theoretical approach. The deductive approach generalise the rules formation and procedures of