Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!

h, "014,

p#. 1

To: Professor Sk Pemmaraju From: Waqas Sher Zaman Subject: Reward, Recognition & Performance 'or"oration %ate: ()*+,*-+(, $n!ro%u !&on'

anagement of !m"#o$ees in

c%ona#d&s

.n the e/er changing and cha##enging business en/ironment of toda$ more and more business owners, organi0ation or com"anies are #ooking constant#$ to im"ro/e the qua#it$ whereas reducing the costs1 %ue to this tight and com"etiti/e business en/ironment em"#o$ees are #ooking more and more towards their em"#o$ers1 2ne of the methods, to moti/ate em"#o$ee&s to increase their "erformance that #eads to change in work that ser/es as ke$ to benefiting the organi0ation, are reward and recognition "rogramme for the em"#o$ees1 3(4 Me!ho%s (se% By M )ona*%+s ,orpora!&on !o -e.ar%, -e o#n&/e 0 Mana#e Performan e of $!s 1mp*oyees' c%ona#d&s 'or"oration "rogramme to reward, recogni0e and manage "erformance of its em"#o$ees is designed in such a wa$ that it attracts retain and engage ta#ented em"#o$ees that wi## he#" in moti/ating em"#o$ees and thus making their em"#o$ees to de#i/er more strong "erformance which in turn wi## he#" c%ona#d&s 'or"oration to achie/e it business objecti/es and goa#s1 3-4 Some of the methods used b$ c%ona#d&s 'or"oration to reward, recogni0e and manage "erformance of its em"#o$ees are A2 Me%& a*' c%ona#d&s 'or"oration offers it em"#o$ees with three Preferred Pro/ider 2rgani0ation 3PP24 medica# "#an o"tions which uti#i0e "ro/ider first hea#th network1 The "#an contains different benefit #e/e#s and "a$ which has more in5network cost com"ared to out5of5network costs1 These "#ans a#so inc#ude "rescri"tion drug "rogram as we## as un#imited #ifetime benefits1 Furthermore, medica# "#ans of c%ona#d&s 'or"oration a#so inc#udes "re/enti/e that co/ers em"#o$ee annua# "h$sica# e6am as we## as for fami#$ members a#so 3ma6 7,++ "er "erson e/er$ $ear41 3)4 B2 )en!a*' %enta# "#ans offered b$ c%ona#d&s 'or"oration enab#es it em"#o$ees to se#ect the dentist of their own wish and choice inc#uding co/erage of e6tensi/e denta# ser/ice1 8+9 of most of the major and basic ser/ices are co/ered after deductib#e1 Furthermore, :+9 of orthodontia e6"enses both for chi#dren and adu#ts are co/ered fo##owing one5time deductib#e1 3)4 ,2 Prof&! Shar&n# 0 Sa3&n# P*ans' Profit sharing and sa/ing "#an of c%ona#d&s 'or"oration a##ows it em"#o$ees to sa/e between (9 to :+9 of their "a$ in a ta6 deferred basis1 !m"#o$ee&s e#igib#e for this "#an has their contribution matched with 7) for e/er$

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

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7( of first (9 from the "a$ which the$ contribute, and 7( for e/er$ 7( on e/er$ ne6t ,9 from the "a$ that the$ contribute1 !m"#o$ees that become e#igib#e for this award a#so recei/e o"tiona# "rofit sharing match that ranges from +9 to ,9 based on first (9 from the "a$ that the$ contribute1 3)4 )2 4a a!&on' Paid /acation is offered to the em"#o$ees of di/ision, region, cor"orate inc#uding restaurant management em"#o$ees1 The /acation time offered to the em"#o$ees de"ends on time how #ong the em"#o$ee has worked in c%ona#d&s 'or"oration1 Furthermore, "art5time workers are a#so granted nine "aid ho#ida$s if the$ are e#igib#e for it1 3)4 12 Sa55a!& a* Pro#ram' !m"#o$ees e#igib#e for this "rogramme can ha/e eight week sabbatica# in e/er$ (+ $ears of continuous fu## time ser/ice, in the com"an$1 3)4 62 1mp*oyee an% )epen%en! 7&fe $nsuran e: !m"#o$ees are offered basic #ife insurance at no cost that is worth two time of base sa#ar$ of the em"#o$ee1 Furthermore, additiona# #ife insurance can be "urchased b$ em"#o$ees themse#/es1 !m"#o$ee&s s"ouse and chi#dren basic #ife insurance is a#so "ro/ided without an$ cost1 3)4 82 $n en!&3e Pay' This "rogramme a##ows c%ona#d&s 'or"oration em"#o$ees with an o""ortunit$ to make tota# com"ensation when the$ meet the "erformance that is e6"ected or e6ceed it1 3)4 92 -e o#n&!&on Pro#rams' This "rogramme is designed to recogni0e and reward strong "erformers within c%ona#d&s 'or"oration1 This inc#udes President&s ;ward and 'irc#e of !6ce##ence ;ward1 3)4

Sour es of &nforma!&on $ .ou*% use !o re.ar%, re o#n&/e, an% e3a*ua!e a su5or%&na!e+s performan e' The source of information which . wou#d require and use to reward, recogni0e and e/a#uate a subordinate "erformance is #isted be#ow (1 To check whether the em"#o$ee has met the "erformance standards which were set forth at the beginning of the "roject -1 To ensure whether the em"#o$ee has e6ceeded the "erformance standards which were set forth "rior to the start of the "roject1 )1 To assess whether the beha/ior of the em"#o$ee at work"#ace is e6em"#ar$ or no ,1 To make sure whether em"#o$ee has taken e6tra res"onsibi#it$ other than what is s"ecified in his job duties and did it e6ce"tiona##$ we## :1 To assess whether em"#o$ee work has he#"ed the com"an$ to achie/e its goa#s and to be more successfu#1

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

p#. 3

My -e3&e. on Me!ho%s (se% 5y M )ona*%+s ,orpora!&on' <ased on the readings and m$ "ersona# e6"erience, . think that the methods used b$ c%ona#d&s 'or"oration are effecti/e for enhancing both em"#o$ee and business "erformance1 The main aim to rewarding or gi/ing recognition to em"#o$ee is to moti/ate him for his better "erformance so that he can continue de#i/ering high "erformance1 This in turn he#"s the organi0ation to achie/e its business goa#s and objecti/es1 Furthermore, m$ re/iews on c%ona#d&s 'or"oration method can be su""orted b$ the e/idence that em"#o$ee moti/ation is one of the ke$ conce"ts around which the who#e =R of c%ona#d&s re/o#/e as discussed in a web artic#e "ub#ished b$ %ebbie >o/ewe##5Tuck1 3,4

1mp*oyee Performan e Measuremen!' Performance measurement of an em"#o$ee #et the owner know em"#o$ees& com"ensation, o""ortunities for ad/ancement and em"#o$ment status1 %ue to this reason the "erformance management "rogrammes shou#d inc#ude methods that generate accurate and fair resu#ts of em"#o$ee "erformance1 .n order to he#" with measurement of em"#o$ee "erformance, the em"#o$er shou#d estab#ish "erformance standards in the beginning1 Performance standards define what is required b$ the em"#o$ees to meet or to e6ceed the com"an$ "erformance e6"ectations1 3:4 Three t$"es of methods which . used to measure em"#o$ee "erformance are #isted be#ow a2 8raph& -a!&n# S a*es' This method is idea# to be used for "roduction5oriented work en/ironment and those work"#aces that mo/e at /er$ swift "ace, s"ecifica##$ food and be/erage industr$1 The rating sca#e "rimari#$ consists of a #ist that contains job duties, "erformance standards and sca#e which ranges from ( to : for em"#o$ee "erformance rating1 2ne of the ad/antages of using this method is that can be com"#eted /er$ quick#$ and thus sa/es #ot of times for managers and su"er/isors and, therefore, the$ can de/ote this time in other workforce management acti/ities1 3:4 52 Mana#emen! 5y :5je !&3es: This method is used to measure the "erformance of em"#o$ees that are either in a manageria# "osition or su"er/isor$ "osition1 The method begins b$ first recogni0ing the goa#s of the em"#o$ee and thereafter the em"#o$ee and his manager "re"ares the #ist of the resources that are required to achie/e these goa#s1 The ne6t ste" in/o#/es the "eriod for achie/ing these goa#s1 !m"#o$ee and his manager meet constant#$ during the e/a#uation "eriod to assess and discuss the "rogress of em"#o$ees and to decide an$ other goa#s for which additiona# resources are required b$ em"#o$ee to com"#ete it1 =ence, the "erformance of the em"#o$ee is measured based on how man$ goa# he has achie/ed within the sti"u#ated time frame1 3:4 2 6or e% -an;&n#' Forced ranking method measures the "erformance of em"#o$ee&s against those of their "eers, other than com"aring em"#o$ee&s current e/a#uation "eriod with "ast "erformance of em"#o$ee&s1 3:4

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

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1<amp*e on 1< ee%&n# =o5 )es r&p!&on' !nhanced "erformance b$ an em"#o$ee on#$ occurs when em"#o$ee&s do more than what is e6"ected from them1 Therefore, it is necessar$ for the managers to understand the difference between the em"#o$ees that e6hibit enhanced "erformance and those em"#o$ees who are o/erste""ing1 For e6am"#e, administrati/e assistant de/e#o"s a database that make the more we##5 organi0ed e6hibits enhanced "erformance, but su"er/isor that rejects to hand o/er the work because of the fear that it might not be done correct#$ is not managing those under her a""ro"riate#$1

9o. M )ona*%+s ,orpora!&on an &mpro3e &!s re.ar%, re o#n&!&on, an% performan e mana#emen! pro esses' !/en though the reward, recognition and "erformance management "rocess of em"#o$ees in c%ona#d&s 'or"oration is one of the best among the wor#d #eading organi0ation but sti## some factors are to be considered if c%ona#d&s 'or"oration wants to its reward, recognition and "erformance management "rocess of em"#o$ees1 These are #isted be#ow c%ona#d&s 'or"oration shou#d in/o#/e a## the em"#o$ees in the creation, im"#ementation as we## as re/ision of reward "rogrammes1 The com"an$ shou#d make sure that awards and recognition which are gi/en to the em"#o$ees based on their efforts is /iewed b$ em"#o$ees as worth1 The organi0ation has to make sure that the reward s$stem is fair towards a## em"#o$ees and no discrimination is to be to#erated of an$ kind1 Rewards and recognition shou#d be "ro/ided immediate#$ to the em"#o$ees without an$ difficu#t$ faced b$ em"#o$ees in recei/ing it1 c%ona#d&s 'or"oration shou#d use some rewards that are #ong term because this has a high consequence on em"#o$ee "erformance and resu#ts1 Rewards shou#d be changed frequent#$ which wi## make em"#o$ee e6cited about achie/ing it, hence making them work harder1 2ne of the wa$s to im"ro/e the "erformance management of em"#o$ees in c%ona#d&s 'or"oration is to #et the em"#o$ee assess their "erformance themse#/es1 This wi## make them understand where the$ are and what the$ can do to im"ro/e "erformance1 Performance management "rocess can be further im"ro/ed b$ gathering information from a /ariet$ of sources other than few sources1

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

p#. >

!m"#o$ees shou#d be he#"ed to make them understand that their "erformance is #inked with com"an$ goa#s and objecti/es

-eferen es

1. .nc1 3-+(,4, !m"#o$ee Reward and Recognition S$stem1, Retrie/ed ;"ri# ()th,

-+(,, from htt":**www1inc1com*enc$c#o"edia*em"#o$ee5reward5and5recognition5 s$stems1htm# -1

3.

c%ona#d&s 'or"oration 3-+(,4, Tota# 'om"ensation1, Retrie/ed ;"ri# ()th, -+(,, from htt":**www1aboutmcdona#ds1com*mcd*cor"orate?careers*benefits1htm# c%ona#d&s 'or"oration 3-+(,4, Restaurant <enefits1, Retrie/ed ;"ri# ()th, -+(,, from htt":**mobi#e1mcstate1com*)+-,*benefits* c%ona#d&s Restaurants bui#t on moti/ation1, Retrie/ed ;"ri# ()th, -+(,, from htt":**www1em"#o$eebenefits1co1uk*benefits*staff5moti/ation*mcdona#ds5 restaurants5bui#t5on5moti/ation*(+-@:)1artic#e ethods Ased to easure Performance1, Retrie/ed ;"ri# ()th, -+(,, from htt":**sma##business1chron1com*three5t$"es5 methods5used5measure5"erformance5-)B(-1htm#

4. !m"#o$ee <enefits 3-+(,,

5. 'hron 3-+(,4, The Three T$"es of

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

p#. ?

Reward, Recognition, and Performance Management

Total 100 points

Criteria

Unacceptable

Acceptable

Proficient

Student Positions and Comments

Describes the methods the organization uses to reward, recognize, and manage the performance of its employees including sources of information to reward, recognize, and e aluate a subordinate!s performance.

"aguely addresses and describes the methods the organization uses to reward, recognize, and manage the performance of its employees including sources of information to reward, recognize, and e aluate a subordinate!s performance or completely off the topic.

&ddresses and describes the methods the organization uses to reward, recognize, and manage the performance of its employees including sources of information to reward, recognize, and e aluate a subordinate!s performance and, for the most part, fulfills assignment re'uirements.

&ddresses and describes the methods the organization uses to reward, recognize, and manage the performance of its employees including sources of information to reward, recognize, and e aluate a subordinate!s performance and demonstrates solid ability to accomplish the assignment.

#0$11 points% Discusses the effecti eness the methods described in the first criteria are for enhancing both employee and business "aguely addresses and discusses the effecti eness the methods described in the first criteria are for enhancing both employee and

#1($13 points% #14$15 points% Discusses the effecti eness the methods described in the first criteria are for enhancing both employee and business Discusses the effecti eness the methods described in the first criteria are for enhancing both employee and business

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

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performance and how the effecti eness is measured.

business performance and how the effecti eness is measured or completely off the topic.

performance and how the effecti eness is measured and, for the most part, fulfills assignment re'uirements.

performance and how the effecti eness is measured and demonstrates solid ability to accomplish the assignment.

#0$11 points% )ecommends how the organization can impro e its reward, recognition, and performance management processes and pro ide a rationale for the recommendations. "aguely addresses and recommends how the organization can impro e its reward, recognition, and performance management processes and pro ide a rationale for the recommendations or completely off the topic.

#1($13 points% #14$15 points% )ecommends how the organization can impro e its reward, recognition, and performance management processes and pro ide a rationale for the recommendations and, for the most part, fulfills assignment re'uirements. )ecommends how the organization can impro e its reward, recognition, and performance management processes and pro ide a rationale for the recommendations and demonstrates solid ability to accomplish the assignment.

#0$11 points% #1($13 points% #14$15 points%

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

p#. @

*ntegrates established +), principles into the discussion.

)arely integrates established +), principles into the discussion.

.or the most part, does a good /ob of integrating established +), principles into the discussion.

1onsistently does a good /ob of integrating established +), principles into the discussion.

#0$- points% 3ynthesizes rele ant information and materials to pro ide e idence of critical thought. 3ynthesizes information at a minimal le el.

#0 points% .or the most part, effecti ely synthesizes information, which supports main ideas.

#2$10 points% 1onsistently and effecti ely synthesizes information, which pro ides strong support to main ideas.

#0$- points% #0 points% De elops ideas with clarity and logic. Demonstrates little clarity and logic. )eaders ha e difficulty following the line of reasoning. De elops ideas with clarity and logic. )eaders can generally follow the line of reasoning.

#2$10 points% De elops ideas with clarity and logic. *deas flow smoothly from one to another and are clearly lin4ed to each other.

#0 points% #0$- points% 5ses concrete language. *nade'uate or minimal use of proper terminology in the field#s%. 6ro ides no specific e7amples or uses inade'uate e7amples. .or the most part, uses proper terminology and pro ides specific e7amples.

#2$10 points% 1onsistently uses proper terminology and pro ides specific e7amples to support ideas.

#0$- points%

#0 points%

#2$10 points%

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

p#. A

5ses supporting documentation that has been properly references and cited.

*nade'uate or minimal use of supporting documentation or not properly referenced or cited.

.or the most part, uses supporting documentation that is properly referenced and cited.

1onsistently uses supporting documentation that is properly referenced and cited.

#0$3 points% 1onsidered holistically, demonstrates the ability to write at the graduate le el. 1onsidered holistically, the student demonstrates an inade'uate ability to write at the graduate le el.

#4 points% 1onsidered holistically, the student demonstrates an acceptable ability to write at the graduate le el.

#5 points% 1onsidered holistically, the student demonstrates a proficient ability to write at the graduate le el.

#0$- points%

#0 points%

#2$10 points%

SubTotal Points =

Paper 4, MBA 713-01, By Waqas Sher Zaman, Prof. SK Pemmaraju, Mar h 13!h, "014,

p#. 10

Turnitin.com

Did not turn paper into Turnitin.com ,inus 5 points

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)e isions based on the originality )eport.

Did not re ise paper based on the originality report ,inus 5 points

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Total Points =