1.OBJECTIVE OF RESEARCH:The first chapter of thisresearch will incorporate the introduction section. Although in stature thissection is one of the smallest in this dissertation the introduction plays apivotal role as it is the starting point for research and outlines what theaims of the research are the background of the study what the other chaptersentail and provides the reader of an outline for the remainder of the research.
The second chapter is made up of a literature review. The purpose of thissection is to inform the research methodology and allow for a criticalassessment of the work of others in this area. Evaluations and discussions willbe made, focusing on written work and research that has already been carried outin the appropriate areas regarding this dissertation. The literature review forthis section will primarily look at the areas concerned with motivation andemployee reward schemes. A sample of the main theories of motivation will beprovided along with a distinction between the two types of motivation theories;content and process theories. Alongside this there will be a critique of themajor theorists and the ideas they have formulated. The next part of themethodology will look at the literature and theory surrounding employee rewardlooking at how employee preferences may choose between either a financial ornon-financially based reward system where the option is available. Again acritique of the advantages and negatives of choosing one specific rewardpackage will be outlined in the form of alternate options available toemployees.
Finally employee perception, with regards rewards systems andincentives will be synthesized for the reader also. Chapter three will focus onthe methodology used in this research. Within this chapter the numerous stagesthat make up this very detailed section will be outlines to clarify the use ofthe chosen methodology. This is a highly important chapter as the researchergives a full outline and basis for the reasoning behind choosing the suitable methodologywhich enabled the research to be carried out.
Within chapter four the resultsand findings of the quantitative research will be portrayed using theappropriate visual aids such as bar charts, pie charts and graphs, along withan explanatory note regarding the findings of each question. These findingswill then be analyzed using suitable software such as Microsoft Excel and Word.Alternately the data may be analyzed by variable by identifying major variableswithin the study and portray the suitable and relevant data of each variablefrom the findings. Chapter five will be the final chapter of the research andwill contain the conclusions and recommendations.
This section allows theresearcher to apply a bird’s eye view of the study and draw upon the key areasand aspects of the topic to come to a final conclusion with regards the studyand formulate any recommendations to aid with any further research in suchareas. This section allows the researcher to look back over the topic andanalyses if their opinions and views regarding such an area have been alteredand what changes could have been made to the study. Basically this sectiondeals with how you would do things differently if you were to start theresearch again.
1.2SIGNIFICANCE OF RESEARCH:In today’s corporate worldcompetitiveness in securing the right employees with key skills and attributesfor the job is at an all-time high especially in multinational companies wherethe demand for a skilled and educated workforce is particularly intense.However while attracting employees to a company is a pivotal issue providing asubstantial and appealing reward package to promote motivation and enticeemployee loyalty to reduce the level of staff turnover is imperative.The productivity of multinationalcompanies in an intense corporate environment relies on the work motivation ofits employees.
This research aims to investigate what motivates an employee andexamines the properties and importance of various correctly implemented rewardsystems. As a worthwhile topic of research this dissertation should show how anadequate use of financial and non-financial rewards can increase an employee’smotivation levels and in turn increase their commitment and loyalty to theorganization. Within researching such an area it is important to acknowledgethat many employees are unique and what motivates one person may be vastlydifferent to another person. Taking this into account should show how effectiveemployee reward does encourage motivation. ‘Acknowledging these differencesoften necessitates that varieties of motivational approaches be utilized'(Staren, 2009). While numerous research has been carried out in the areassurrounding employee reward, focusing on benefits packages, performance relatedpay and correlating factors such as staff retention this research aims toexplore motivation and how employee reward both financially and non-financiallyimpact on employee motivation in the workplace. Seeing as motivation plays suchan important role in employee performance and improving factors such asproductivity and efficiency (Shields, 2007), this research is important to lookat what kind of reward systems and how they act out in motivating employees,particularly in Multinational companies. Without a human capital involvement in the workplace thefunctionality of an organization may come into question when efficiency andproductivity are looked at.
Because of this a key area of human resourcemanagement surrounds motivation. Motivation plays a huge part in anyorganization from the top level management to entry level employees and thoseemployees in between (Kirstein, 2010). Understanding motivation as part of thebroader aspect of human behavior is a complex area. With this in mind manymanagers in the workplace have not made any further progress in understandingwhat motivates their employees than that of the research carried out by theirequivalents at least thirty years previous (Kovach, 1980). Throughout theCeltic Tiger era, background research shows the researcher that many companiestended to adopt more financially based incentives as a means to motivateemployees. However, in recent times in every area of business, companies aretrying to reduce costs, thus the availability to offer financial incentives asa means of motivating effectively may be jeopardized. If this is the case thecorrect research must be carried out to find out if alternate means such asnon-financial incentives are as equally effective in motivating employees.
Anotherreason why this area is such a worthy topic of study is to look at the effectthe post Celtic Tiger era had on reward packages and how current Irishemployees feel their current reward packages impact on motivation.The aim of thisresearch was to use any available literature that had been carried outpreviously in this area along with collected data using suitable methodology toinvestigate and carry out the set of objectives for this dissertation. Thisresearch would be collected by means of the objectives of this research, whichwere as follows:1. Explore how reward systems positively motivate employees.2. Explore employee perception of the motivating effects ofreward and benefits.
As will be shownin the literature review, there are numerous theories developed to try andunderstand motivation and how employees are motivated. However for the natureof this research on of the simplest ways to do this is to ask employees whatmotivates them. While carrying out such analysis, many researchers compiled datafrom employees with varying demographic, education and level of skillsbackgrounds. This research aims to emulate the findings of previous research inshowing while that the importance of motivating factors might differ dependingon a group of employees, certain motivating factors are often highly regardedaccording to Lindahl, 1949 (as cited in Sonawane, 2008; Harpaz, 1990; Kovach,1980; Linder, 1998; Kinnear and Sutherland, 2000).