Reward & Recognition Strategies: A case study of GE Healthcare

In a world characterized by increased global competition, and a rapidly changing business environment, companies and organization are forced to continuously reevaluate how they work. Since the first systematic studies of manual labor began during the last century, the focus have changed from a strict control of employees toward looser organizations, increased globalization, and the emergence of HRM-Human Resource Management during the 80’s. Research shows that employee compensation can account for as much as 70-80 percent of companies cost,but also show that the value of a company’s human capital can significantly affect the market value of the company. Studies also show that managers see non-monetary reward and recognition systems as very effective in reaching eight out of ten organizational objectives. Another problem facing international companies is establishing themselves in cultures vastly different from their own, in regards to organizational as well as national cultures being different. A company that has been highly regarded and are among the most valued companies in the world is General Electric, which established themselves in Sweden and Umeå when Amersham became GE Healthcare n 2004…

Contents

1. INTRODUCTION
1.1 PROBLEM BACKGROUND
1.2 PROBLEM
1.3 PURPOSE
1.4 DISPOSITION
2. THEORETICAL METHODOLOGY
2.1 PRECONCEPTIONS
2.2 BACKGROUND OF AUTHORS
2.3 CHOICE OF SUBJECT
2.4 RESEARCH PERSPECTIVE
2.5 RESEARCH PHILOSOPHY
2.6 SCIENTIFIC APPROACH
2.7 RESEARCH METHOD AND PURPOSE
2.8 PRIMARY AND SECONDARY SOURCES
3. THEORETICAL FRAMEWORK
3.1 HRM – HUMAN RESOURCE MANAGEMENT
3.1.1 HRM versus personnel management
3.1.2 HR partner perspective
3.1.3 HR IT-systems
3.2 SOFT VERSUS HARD HRM
3.2.1 Soft HRM
3.2.2 Hard HRM
3.3 ORGANIZATIONAL CULTURE AND RESTRUCTURE
3.3.1 Collectivistic and individualistic society
3.3.2 Individualism and collectivism in the workplace
3.3.3 Power distance
3.3.4 Organizational Structure
3.3.5 Organizational restructure and job satisfaction
3.4 REWARD AND RECOGNITION STRATEGIES
3.4.1 Performance managemen
3.4.2 Base salary
3.4.3 Increases in pay
3.4.4 Promotions and performance rating
3.4.5 Bonus and other incentive programs
3.4.6 Special recognitio
3.4.7 Employee Benefits and Services
3.4.8 Feedback and communication
3.4.9 Reward and recognition strategies in teams
3.5 MOTIVATION AND JOB SATISFACTION
3.5.1 Motivation and hygiene factors
3.5.2 Agent/Event factors
3.5.3 Values and attitudes
3.5.4 Stress and job tasks
3.5.5 Contingency Theory
3.6 CONCLUDING THEORETICAL MODEL
4. PRACTICAL METHODOLOGY
4.1 SURVEY DESIGN
4.2 SELECTION PROCESS
4.3 DATA COLLECTION AND PROCESSING
4.4 INTERVIEWER BIAS
4.5 SOURCE CRITICS
5. EMPIRICAL STUDY
5.1 PRESENTATION OF GENERAL ELECTRIC
5.1.1 GE Healthcare
5.1.2 GE Healthcare Umeå
5.2 GE HR-MANAGEMENT8
5.2.1 GE Raise Track and Session C
5.2.2 GE Leadership bands
5.3 RESPONDENT PRESENTATION
5.4 EMPIRICAL PRESENTATION
5.4.1 HRM
5.4.2 Organizational culture and change
5.4.3 Reward and recognition strategies
5.4.4 Motivation and Job Satisfaction
6. ANALYSIS
6.1 HRM – HUMAN RESOURCE MANAGEMENT
6.1.1 HRM versus Personnel Management
6.1.2 HR partner perspective and HR IT-systems
6.1.3 Soft versus Hard HRM
6.2 ORGANIZATIONAL CULTURE & RESTRUCTURE
6.3 REWARD AND RECOGNITIONS STRATEGIES
6.3.1 Performance management and base salary
6.3.2 Promotions and performance rating
6.3.3 Bonus and other incentive programs
6.3.4 Special recognition
6.3.5 Employee Benefits and Services
6.3.6 Feedback and communication
6.3.7 Reward and recognition strategies in teams
6.4 MOTIVATION AND JOB SATISFACTION
6.4.1 Values and attitudes
6.4.2 Stress and job tasks
6.4.3 Contingency Theory
7. CONCLUSIONS AND DISCUSSION
7.1 SUGGESTIONS FOR FUTURE RESEARCH
8. TRUTH CRITERIA
REFERENCE LIST

Author: Öztoprak, Tugba,Lundmark, Richard

Source: Umea University

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Category: HR Projects
Reward & Recognition Strategies: A case study of GE Healthcare