Question
Produce a 3000 word report to present to your CEO that provides:
o An analysis of your organisation’s external reward environment identifying
the key reward management changes that are likely to occur in the coming
year;
o A critical evaluation of the impact these changes will have on the pay and
benefits of employees, management and executives.
o What issues you would need to consider if you also had to take into
account ex-patriate workers on long term assignments, and the
implications of these for your current recommendations and/or the
inclusion of other recommendations
Executive Summary
This report examines the external reward environment and identifies the reward management changes that are likely to occur in the coming year. Also, a critical evaluation of these changes’ impacts on the benefits and pay of employees, management and executives are evaluated. Finally, the issues that should be considered when taking into account the ex-patriate employees on the long-term assignments and the implications of various recommendations. The report is centred on the xxxx in Bahrain, an organisation in the hospitality industry. This report finds that the external reward environment is characterised by the application of technology in the HR processes and the reward management, competition and benchmarking by organisations to determine the most suitable rewards, labour laws, and changes attributed to the social-economic factors. Reward management changes likely to occur in the coming year include continuous employee engagement, generation changes, social networking, and considering the environmental issues. The impacts of these issues on the pay and benefits include an increase in these elements although the employees will have to acquire diverse skills including technical. Concerning working with ex-patriates, some of the issues to consider will include cultural change, expatriation costs, language barriers, and engaging the right individuals. These factors will be central in the reward management process.
Table of Contents
2.0 Organisation’s External Reward Environment 4
2.1 Likely Reward Management Changes. 6
3.0 Impacts of These Changes on Pay and Benefits. 7
3.1 Effect on Pay and Benefits of Employees. 8
3.2 Impacts on the Pay and Benefits for the Management and the Executives. 9
4.0 Issues to Consider when Taking into Account the Ex-patriate Workers. 9
1.0 Introduction
Globalisation, technology, competition, and workforce composition are among the key factors shaping how people work and their interaction at the workplace. According to Scott, McMullen, and Larson (2017), people think the fourth industrial evolution is here, which will significantly impact society and the working environment. This is attributed to the rapid transformations in genetics, digital technology, three-dimensional printing, and artificial intelligence. For instance, there is an increase in the use of technology in making reservations and attending to customers in the hospitality industry, as reflected in the Grove Resort organisation. The company has applied technology in various activities, including entertainment and booking. This reflects on the impacts of the servicescape concept. Mobile devices and computers and internet connectivity have enhanced the work accessibility from different places according to the client’s satisfaction. The COVID-19 pandemic, on the other hand, has demonstrated the significant effects of technology. People in contemporary organisations do not have to commute to the employment workplace. The internet has enhanced the employees’ availability 24/7 and the execution of their activities online. These changes will significantly affect reward management as organisations look for individuals with diverse technical skills and competence in other areas, including soft skills.
2.0 Organisation’s External Reward Environment
The hospitality industry has been significantly affected by several external environmental factors. The main influential factor is technology, which has enhanced the relationship between employees and management. Information and communication technology (ICT) has transformed how various organisational activities are conducted, from people management to providing rewards. In Grove Resort, ICT in employee management is mainly used in promoting communication and engagement among various stakeholders. According to Antoni et al. (2017), reward management is essential in employee motivation. While analysing the influence of external environment, it is further critical to consider the changing employer requirements, including competence in soft skills and ICT. This knowledge is important for both employees and employers. Therefore, interest individuals should establish strategies to ensure they are aligned with the environmental changes and core workforce requirements. On the other hand, employers should acknowledge the importance of demographic changes and how they impact the reward system. The following factors characterise the organisation’s external environment.
- Quick Feedback and HR Processes
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