BUS7B13 Research Methods proposal Assignment Sample
1. Research Question
The research question for the following proposal are mentioned below-
- What are the tools and techniques used by the retail industry for employee satisfaction?
- Which channel of communication is said to be most effective for increasing productivity?
- How can the employees be motivated?
- What factors are associated with the reward system?
2. Research Aim
The main aim of the proposal is to evaluate role of “Reward system”, a potential driver of UK retail industry to boost the performance and productivity.
3. Research Objectives
Inculcating a reward system in the business is very important to boost the sales of the business and increase productivity and working efficiency. Therefore, the research objectives are-
- To establish tools and techniques used in the retail industry for employee satisfaction.
- to evaluate the importance of the reward system in energizing the productivity of the firm
- To increase the motivational level of the employees by different types of reward system
- To identify the factors affecting the reward system
4. Reasoned Justification of the Study
The main reason behind the research proposal is to evaluate an effective channel through which a reward system can be introduced in the business. The study will also focuses on several tools and techniques through which employees’ working dedication and loyalty can be increased. Hence, the mechanism of the reward system is used in the business to boost employees’ work engagement for achievement of business success in an effective and efficient manner. The proposal is also aiming to improve the job satisfaction of the employees so that they work dedicatedly towards achievement of future goals of the company. Hence, it is very important to introduce a reward system to boost the motivation level of the employees.
5. Limitations of the Study
Reward system is used by several businesses and organizations because it has been evaluated that it helps in boosting the employee’s dedication and work engagement which will lead to increased productivity. But the Reward system has several limitations too and they are briefly discussed here. Increased pressure of work, bribes, early deadlines, devaluation, Addictions is some of the major limitations.
6. Relevant Theme and Discipline/Theory Area
Effectiveness of reward system
Reward system is very important in any organization as it increases the productivity of the employees (Mendis, 2017). There are several cases where it has been evaluated that communication becomes the major barrier. Hence, it is recommended that the retail organizations should inculcate the reward system for the employees .This mechanism will help in increasing the productivity of the employees and increase the work engagement of the employees by implementing this policy it can be predicted that the employees will dedicatedly perform their task (Król et al. 2021). Due to this the working efficiency of the employees will be improved and that will lead to an increase in achievement of the desired goals on time in an effective and efficient manner.
Figure 7: Reward system and different compensation pay
(Source- Król et al. 2021)
The above image talks about the different ay structure, bonus, commission that is given to the employees.
- Type of rewards
Types of reward the retail organizations generally uses in the business are-
- Pay schemes bases on individual performance
- Commission pay
- Pay related to profit generation
- Stock option planning
- Appreciation plan
These are some of the reward systems that are generated in the uk retail industry “reward system and non monetary reward system” are the two main systems that are generally used by the retail organizations in the UK. The employees must be made aware of the reward system initiated in the organization so that they work dedicatedly towards achieving their targeted goals. If the employees are given reward they will achieve job satisfaction due to which they will work dedicatedly towards the success of the organization (Mooney, 2021). The reward will be distributed by seeing the working capabilities of the employees and in a transparent manner. The reward system should be made predictive so that the employees of the organization perform accordingly. The employee’s excitement level rises when they get to know about the size and type of the reward.
- Factors impacting reward system
HRM is the most important aspect of every organization, which looks after the working operation of the business and leads the business in the right direction. HRM is responsible for evaluating the status of the working operations and several other facts related to the task. Hence, it has been evaluated in several cases that the communication becomes a major barrier in the working operations. There is a need to establish an effective communication channel through which the employees can put their feedback and earn reward.
- Scientific management theory
The theory of scientific management focuses on building higher productivity and finding an optimal way through which the task and projects can be completed in an efficient manner. By utilizing the scientific theories of management, the employees work dedicatedly and for that they earn reward from the organization.
- Employee retention theory
Retaining employees is very important in any organization. Hence, it has been evaluated that by inculcating retention theory of employees the retention rate increases. The employees work dedicatedly towards their work and earn reward. With a reward system the retention rate increases and employee’s dedication towards organization increases.
7. Method of Data Collection
Secondary qualitative data will be used for conducting the research (Ngwa et al 2021). Research will be through an online platform and feedback of the employees was taken over the mechanism of the reward system. Several journals and articles will be taken into consideration.
8. Preliminary Hypothesis (null – H0 and alternative – H1)
H0: there will be no relation with the reward system and employees management evaluated in the above study.
The reward system should be highly used in the business to increase the working efficiency of the employees.
H1: there is a strong relationship between the employee management and rewards system. Reward system also helps in boosting up the sales and productivity of the business.
9. Direction for Further Research
Hence, for further research it can be stated that the retail organization should highly initiate the reward system in their business. This will help the business in achieving higher productivity rate and will increase the dedication of the employees towards achievement of goals.
References
Ahmed, S., Bangassa, K. and Akbar, S., 2020. A study on trust restoration efforts in the UK retail banking industry. The British Accounting Review, 52(1), p.100871.
Król, M., Sonnino, A., Al-Bassam, M., Tasiopoulos, A.G., Rivière, E. and Psaras, I., 2021. Proof-of-prestige: A useful work reward system for unverifiable tasks. ACM Transactions on Internet Technology (TOIT), 21(2), pp.1-27.
Mendis, M.V.S., 2017. The impact of reward system on employee turnover intention: a study on logistics industry of sri lanka. International journal of scientific & technology research, 6(9), pp.67-72.
Mooney, R., 2021. An exploration of the relationship between reward management systems, worker performance, and motivation in the Irish retail sector: A partial replication and extension (Doctoral dissertation, Dublin, National College of Ireland).
Ngwa, W.T., Adeleke, B.S., Agbaeze, E.K., Ghasi, N.C. and Imhanrenialena, B.O., 2019. Effect of reward system on employee performance among selected manufacturing firms in the Litoral region of Cameroon. Academy of Strategic Management Journal, 18(3), pp.1-16.
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