Reward, Recognition and Performance Management of Kenneth's Hair Salons & Day Spas (Other (Not Listed) Sample)

Human Resources Management (HRM)
Name
Institution
Business Brief - Reward, Recognition and Performance Management of Kenneth's Hair Salons & Day Spas
Introduction
This organization uses the method of financial returns to reward and recognize, as well as managing the performance of its workers. In this approach the hair stylists, beauticians, and other employees in the beauty parlor are offered a present in the form of salary raise and some bonuses based on positive customer feedback for a given period of time showing their commitment to their work. It is clear that the financial reward is only offered to those recognized to have achieved the target and enhanced customer satisfaction and retention only during the moment they are identified to have done so (Noe, Hollenbeck, Gerhart, & Wright, 2016). Besides, the reward system enhances workers’ fulfillment and enjoyment of their task, as they are guaranteed of some financial reward for tasks well done with customer satisfaction. The method of financial returns is efficient in making the employees and the business perform effectively. This is because the provision of rewards acts as a motivator for employees to work hard, encouraging them to respect customers’ demand besides assisting the organization achieve its goals and improve its trust and reputation to the public (Renwick, Redman, & Maguire, 2013). Besides, the financial returns boost the employees morale especially the moment an individual employee is rewarded through a good amount of money. Additionally, once the employees are recognized for meeting the customer interests through the provision of some bonuses, they feel acknowledged and respected for their good work. Thus, the majority are tempted to continue doing all they can to get another rewards next time. Nonetheless, the approach assists in the advancement of the performance of the employees and at the same time that of the organization.
The major outcome areas in the HR reward, recognition, and performance management strategy that this organization has set are associated with the return of the human capital and turnover. The choice of these metrics was based on the need to motivate workers, retain them in the business for a long period besides increase the planned income in the organization (Bhatnagar, 2014). The beauty parlor also aimed at looking for ways through which it would attract more customers. This was through the recognition of workers allowing them to meet the customer interests, therefore broadening the customer base. In order to achieve these metrics, this business focused on ensuring that workers are enabled to work in an environment, which is friendly and the one with the ability to enhance their teamwork and collaboration. This approach helped in not only retaining workers for a prolonged period, but also in the improvement of the organization’s returns.
The organization needs to adopt the total reward strategy, which entails the provision of financial returns, workers’ feedback, and career development to aid in the conduct of meaningful work. This is a better strategy as it will improve the workers’ future, such as career development through the provision of suitable training that would lead to updating of operational skills (Manzoor, 2012). It would also assist in meeting the interests of workers and the clients, leading to better performance of the business.
The 5 step critical thinking matrix
Step 1: Identify the problem(s) and uncertainties The operation of a reward and recognition method benefits workers for a short period of time only (Elder, & Paul, 2009). The business fails to provide career development for the workers. Improved performance is lauded for a short time. Therefore, workers do not have anything to fall back on when they leave.
Step 2: Obtain information addressing the problem(s) identified
The problems identified, namely short term benefits, no career development programs and need for more resources have to be dealt with. Recognition and rewards for performance of workers must be encouraged. Focusing on career development by updating of workers’ skills is necessary. Improvement of its resources to enable training to its workers as per the demands of the market must be considered.
Step 3: Make predictions about the future
Consideration of the total reward strategy will assist both the business and its workers even in the fut...