To gain workforce support and commitment, organisations should offer remuneration and rewards that are internally and externally equitable, as inequity in remuneration is the source of employee discontent and turnover. To succeed, organisations have to communicate the total value of rewards allocated to employees. Communication is the foundation of reward management and organisational success. Communication helps employees to understand that the rewards they receive are worth having. Remuneration and rewards communicate the value that organisations place on their employees. To deliver the proper messages, remuneration objectives and strategies should be aligned with the overall business strategy of the organisation. Alignment enables organisations to deliver the right type of rewards to the right people, at the right time, and for the right reasons. The only way the organisation can deliver the correct reward and remuneration, is to implement a total reward system together with a total pay system. Effective total pay system covers base pay, skills and competency pay, variable performance pay, recognition, and benefits. Total reward system cover investment in people, development and training, performance management, and career management. To motivate and retain employees, and to improve organisation’s profitability, a right mix of total pay and total rewards should be made available to employees as employees’ needs differ. With this information, an empirical study was developed and conducted at Lobels Bread in Zimbabwe. The results of this survey indicated that Lobels Bread uses traditional base pay system and benefits as a way of motivating and retaining its employees. This pay system seems to be insufficient to motivate and retain employees. To motivate and retain employees, the company should implement a total reward system, which includes total pay system, investment in people, career enhancement, open communications, involvement, and performance management.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:8682 |
| Date | January 2009 |
| Creators | Mtazu, Pauline Sibusisiwe |
| Publisher | Nelson Mandela Metropolitan University, Faculty of Business and Economic Sciences |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | xii, 135 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
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