Assessment 3: Report
HRMT20024
Assessment 3: Report
Template
Due date: Week 12 Friday (7 October 2022) 11:45 pm AEST
Length: 2,500 words 10% (excluding title page, executive summary, table of contents and reference list)
Building on the information prepared for Assessment 2, and with attention to the feedback, you will write a report on the current human resource management challenges in the Australian context in one of the sectors (Retail or Financial sector).
Executive summary
The executive summary is not an introduction. Its a summary of your whole report. The reader who read the executive summary should get the essence of the report, such as the purpose of the report, the key challenges you identified and what you concluded.
Table of Contents
The main things to remember when you construct a table of contents are:
- include the main sections and sub-sections
- always provide corresponding page numbers
1) Introduction
Tell us what your report is about, the sector you are studying [retail or financial sector in Australia], and a brief foreshadowing of the content of your report. You may wish to narrow the scope of your report to one group of workers in a sub-sector (e.g. supermarkets in the retail sector or bank industry in the financial sector).
[100 150 words]
2) Sector context
2.1 Tell us a little about your sector.
How much does it contribute to the Australian economy? How many people work in the sector? What types of jobs do they do? What qualifications do they need? What sub-sectors are there?
2.2 Tell us the effects of the pandemic on your sector
[200 - 350 words]
3) Current human resource management challenges for the sector in Australia
You are required to identify some challenges facing the industry in Australia. You will have at least two themes from Week 1 to Week 12 of this unit, one for each sub-section, which will include reference to scholarly peer-reviewed articles, plus additional articles and news stories about your sector. [1800 2000 words for 2 sections]
For example:
Section 3.1. Talent attraction and selection (Week 6s topic)
Issues/discussion may cover (but are not limited to):
Is this a desirable industry?
Are the jobs in this industry well paid with good conditions?
Are there any pay gap issues?
Are there any labour shortages or skill shortages?
What are the current HR strategies and challenges to build an organisations pool of talented employees?
What/how do HR managers make their jobs more attractive, and how to keep them competitive for employee retentions?
What are the recent trends in post-pandemic recruitment systems in your sector?
Will a flexible working model, work from home or hybrid model affect recruiting in your sector?
Or
Section 3.1 Workplace health and safety (Week 10s topic)
You need to identify some key current health and safety challenges facing workers in the industry.
Issus/discussion may cover (but not limited to):
Were there any additional challenges during the pandemic?
What are the health and safety risks associated with working in your sector?
What are the most common incidents in your sector?
What are the most common injuries?
4) Conclusion and recommendations
Given what you know about the current HRM challenges, make some recommendations for managing human resources in the future
[150-250 words]
5) Reference List
List of all references used in this report, in APA 7th edition format. The references should be listed in alphabetical order by the family name of the first named author of each source.
** You must cite at least ten (10) relevant peer-reviewed journal articles. You can cite other academic references such as books, conference papers, and book chapters, but these will NOT be counted as part of the 10 journal articles.
HRMT20024 Managing Human Resources
Assessment 2: Annotated Bibliography
Aayush kumar shah
Student Id: 12191491
Submission date: 26 Aug 2022
Word count:2783
Campus or Study Mode: Sydney Campus
Article 1
1. Full reference of the article:
Kubica, I., & SZArUCKI, M. (2016). Exploring employee motivation in Polish family firms. Case of retail sector. Business, Management and Economics Engineering, 14(2), 194-209. https://journals.vilniustech.lt/index.php/BMEE/article/download/2159/1743
2. Objective and research questions: The main aim is to study worker motivation in family companies on the sample of particular corporations from the retail segment in Poland.
To what extent does an attractive compensation package motivate you to work?
3. Research method: Invitation to contribute to the study was addressed to three family businesses, running their industry on the land of Poland for about twenty-five years and engaging from six to fifty staff. The chief research method used when examining the level of incentive at work and features inspiring workers in the inspected family businesses was a survey. It had twenty-one lunchroom questions about monetary and non-monetary incentive tools, the grade of gratification with the tools plus specialised growth chances in the observed organizations. The survey was complemented by interviews with the proprietors of inspected businesses, which allowed better consideration of the working of the businesses. Altogether, the research had seventy individuals.
4. Findings and discussion Monetary and non-financial inducements are very frequently measured to be one of the supreme significant motivators, heartening workers to work extra efficiently since they have the utmost result on human conduct because of a quantifiable logic of efficiency and ones energy. Monetary inducements offer a worker financial aid in addition to the option of following his or her objectives and requirements and thus increasing the physical circumstances of his or her life. On the other hand, non-monetary inducements offer the worker the likelihood to feel admiration, self-respect, gratitude, and likewise please the communal and self-fulfilment requirements. The participants, when asked regarding features which have the maximum outcome on development in their incentive, nearly universally pointed out payment, the atmosphere at the office plus the logic of self-fulfilment and growth. When contrasting motivational aspects and demotivators of the measured companies, it is likely to see problems in the workers' management procedure produced by noteworthy disorder in work society, lack of perfect lawful events (amongst others, information stream, values of granting consequences and prizes/bonuses for the achievement of aims) and unacceptable level of payment. The remuneration of family associates working in a company is frequently lower than the payment of outcasts who have comparable knowledge and capabilities. Though this theory is not established in Polish family businesses, what was shown by interviews led with businesspersons running family businesses.
5. Conclusion: It is worth stating the most regularly detected mistakes in the motivation procedure, which unquestionably comprise: making general choices, special dealing of particular persons (in this instance, family associates), and intimacy to some fairly, unfaithfulness or unfair use of punishment. All these dysfunctions or pathologies are chiefly noticeable in actions of family businesses, which were likewise imitated in the consequences of the directed investigation for instance e.g. gesturing unsatisfactory conduct of workers in the constructions of an agreed company.
6. How this article will contribute to my final report: With the help of this article I will have a better understanding of the polish firms and the factors that de-motivate or motivate them. I can delve more into the matter of incentives and rewards that can motivate a family firm. This article can also inspire new research to shed some light on this and write elaborately about this topic.
Article 2
Full reference of the article:
Martono, S., Khoiruddin, M., & Wulansari, N. A. (2018). Remuneration reward management system as a driven factor of employee performance. International Journal of Business & Society, 19. http://www.ijbs.unimas.my/images/repository/pdf/Vol19-S4-paper3.pdf
2. Objective and research questions: . The purpose of the investigation is to get experiential information on the consequence of reward on worker incentive, gratification, and presentation. This research sees the effect of the remuneration prize scheme on worker performance through incentive and job gratification as the arbitration variable.
Does Payment Reward System have an Optimistic Effect on Performance?
3. Research method: The statistics in this study were reserved from Universitas Negeri Semarangs permanent workers amounting to four hundred three workers. The facts were examined by utilising Structural Equation Modeling (SEM) aided by AMOS Database with Goodness of Fit on a physical equation. SEM examinations are planned to inspect the effect of remuneration reward scheme, incentive, and job gratification either straight or circuitously on the act. A taster of four hundred three participants was taken from all stable workers of Universitas Negeri Semarang. The quantitative sample was made utilising Purposive Proportional Random Sampling.
4. Findings and discussion: Reward management scheme is a central task of the human resource act plus is a strategic companion with business administrations. Also, it has a significant part in work consequences. Reward management schemes have a chief influence on companies' competence to latch, recall and inspire high probable workers and consequently receive the high stages of the act. A remuneration reward scheme is typically applied to inspire workers so that they achieve better superiority, are extra creative, are not effortlessly progressed to other businesses, create service-leaning conduct, and evade exploitation. Remuneration can be in the system of cash or pay, fixed payments, flexible payments, inducements and other services. Remuneration is the full reward established by the workers in return for the facilities he or she has completed. The delivery of payment or reward either straight or indirectly is established to encourage worker performance. A reward scheme which is supposed to be reasonable and relational to workers might develop their efficiency at the job. In the meantime, the remuneration specified might likewise have an unintended effect on their actions. This application of a remuneration repayment scheme might likewise be a prevailing instrument to develop workers work incentives and job fulfilment. When somebody senses that the arrangement being used by their business is reasonable, it can develop his job gratification and rise their incentive to work.
5. Conclusion: Remuneration plus job gratification are two extremely significant features in individual act development. Furthermore, remuneration can develop incentives and job fulfilment. This research likewise displays that, the effect of the reward administration system in the arrangement of remuneration to worker performance might be produced through arbitrating variables for instance incentive and job fulfilment. Also, remuneration application is anticipated to attain worker inventiveness must be highlighted in the future study.
6. How this article will contribute to my final report: This article will help in my final report as the results of these evaluations should encourage employee motivation and indirectly also encourage their performance. I can have a better understanding of the reward management systems that are prevalent and thus useful for motivation.
Article 3
Full reference of the article:
Swapna, P., & Narayanamma, P. L. (2019). Reward and Recognition Impact on Job Satisfaction and Performance in retail sector: an Empirical Study from Andhra and Telangana. http://jmcms.s3.amazonaws.com/wp-content/uploads/2019/10/22174547/51-Reward-and-Recognition.pdf
2. Objective and research questions: The research inspects that prizes and recognitions had an optimistic influence on job fulfilment and performance of the workers in the retail sector.
Are Rewards and recognition straight connected to Job Performance?
Do Rewards definitely and meaningfully impact job satisfaction?
3. Research method: Population of the research was taken from supreme subdivisions of D mart plus Big Bazaar workers in both the states Andhra and Telangana. A total of two hundred twenty-five Answers are gathered from staff working at numerous stages in the Retail Division Beginning the from Entry stage To Senior Level. A questionnaire was designed to ask the questions. Five points Likert scale was used to measure the results.
4. Findings and discussion: Proof displays that high stages of worker engagement are linked with better individual worker acts. Rewards and recognitions which are utilised for outstanding job performance impact a workers confidence and job gratification. Human resource is the one that offers a basis for a business to accomplish supportable aggressive rivalry. Enticing and preserving capable workers is stimulating to work for nearly all businesses. It is well-known that worker act can be enhanced when workers are interested to attain their aims. Human resources concentrate additionally on enhancing the fulfilment and act of workers by utilising Rewards as a motivational aspect. Rewards plus recognition have an extra effect on workers. This research has assessed the outcome of worker rewards plus recognition of job gratification. Originated on the results of this research, it can be prcised that worker reward and acknowledgement play a vigorous part in worker performance. It indicates that prizes and recognition are straight proportional to worker performance. The alterations in rewards directly impact the variations of the worker's performance. From the above, it can be determined that an assorted reward bundle can affect workers to achieve their chosen job effectually and actively. The goal of generating a striking reward policy is to carry characteristic reward plans that fund the achievement of organizational aims in addition to fulfilling the requirements of stakeholders.
5. Conclusion: Rewards and Recognitions are plays a significant part in business to develop job fulfilment amongst the workers in businesses. There is a massive adverse association between the fulfilment and gratuity payments of employees with the definite job itself. Monetary motivators impact employees' Efficiency and actions. For enhancing incentives and decreasing income rates Job fulfilment is significant. Likewise, in every business job fulfilment is an extremely significant part. To prosper, a business must keep its staff pleased. For workers' job performance they acquire return reimbursements in the method Pay is measured by money or might be the recompense assistances to the workers by the company. Rewards in the type of Recompense act as a chief character to determining a workers level of work fulfilment.
6. How this article will contribute to my final report: With the help of this article I will be able to gain more knowledge about the importance of rewards and recognition, which will in turn help me to write an informed assignment later. I will know about ways to increase job satisfaction. This information will prove to be beneficial later on.
Article 4
Full reference of the article:
Kumar, A., Brar, V., & Wadajkar, V. (2019). Significance of effective HRM practices in organized retail sector-A literature review. International Journal of Enhanced Research in Educational Development, 7(1), 22-26. https://www.researchgate.net/profile/Atul-Kumar-135/publication/352781934_Significance_of_effective_HRM_practices_in_organized_retail_sector_-A_literature_review/links/612a0bd42b40ec7d8bca95f5/Significance-of-effective-HRM-practices-in-organized-retail-sector-A-literature-review.pdf
2. Objective and research questions: A part of the worry for the retail subdivision has been human resource management. Enticing brilliant individuals and holding them has been a task. High attrition degrees have pretended difficulties for the segment. The article aims to shed more light on this area and suggest ways to reduce this issue.
3. Research method: A literature review has been directed. Several articles are used in this review. A total of thirty-two articles are read and some of the more relevant ones are used to give information on this article. The viewpoints of more than 5 authors are used to write the literature review.
4. Findings and discussion: The businesses are going lengthily then they must have a modest edge by supporting and holding the novel assistances at the high stage, which will aid the business in countless and awful events and which will similarly affect the business in its wealth and fortitude. If the businesses have great procedures to get in touch with their workers it will help them with acting better and set to accept the greater obligation, energetic and moving. in retailing administrations, workers were supposed that it was tough to agree on work considerations and house survival with their trade. This research displays that regardless of the association between employee assignation and profession fulfilment, there is no link between worker engagement and service responsibilities, which is a noteworthy key aspect of structural performance. The consequences expose that activity task is basic for linking with workers to assure businesss life span and efficiency. Retailers are challenging the subject of the monetary recession owing to some aims like mass reductions, throughout the board, work indecision, and so on and after bringing down worker commitment. The greatest scores of employee commitment to the retail trade are likewise low in customer challenging situations. The staff can regulate work plus individual life at the most dangerous stage. Moreover, the study speaks that the business is similarly teaching the workers for obligatory skill sets to play out their actions, and it is documented that the male workers are more drained than woman workers in the subdivision.
5. Conclusion: Although there has been a sensible study in HRM connected to a prearranged retail arrangement, there is a terrible requirement to investigate some extra parts to talk about the matter of extraordinary attrition in the systematized retail segment. An attrition rate of twenty-five to thirty-five per cent is extremely irrational and demands improved HRM actions. Expenses of labour revenue are high. It might be consequently time improved to devote extra to improved HRM actions instead of experiencing increased expenses linked with attrition. Retail is a dedicated segment and has exceptional desires for information, services, and approaches. Henceforth, HRM actions will have to be modified and well-associated with these particular necessities.
6. How this article will contribute to my final report: In the next assignment I can use the information about the attrition rate that is gradually rising in the retail sector. I can also suggest ways that this rate can be reduced.
Article 5
Full reference of the article:
Rai, A., Ghosh, P., Chauhan, R., & Singh, R. (2018). Improving in-role and extra-role performances with rewards and recognition: does engagement mediate the process?. Management Research Review. https://www.researchgate.net/profile/Piyali-Ghosh/publication/325510350_Improving_in-role_and_extra-role_performances_with_rewards_and_recognition_Does_engagement_mediate_the_process/links/6119cabb1ca20f6f86257367/Improving-in-role-and-extra-role-performances-with-rewards-and-recognition-Does-engagement-mediate-the-process.pdf
2. Objective and research questions: This article wishes to discover the likelihood that rewards plus recognition might be involved in refining mutually in-role as well as extra-role acts of retail sales acquaintances, with a fundamental arbitrating part of worker engagement in this rapport.
3. Research method: A survey was directed across thirty-five retail shops in five towns positioned in North India on two hundred forty-seven sales acquaintances. Duplicates of the questionnaire were dispersed to three hundred twenty sales workers of these shops, and the survey was done for around a month. All the concepts in this research have been dignified through scales accepted from literature. Each of these measures is a five-point Likert type. Ranked multiple regression examination was done to examine the mediation theories. The examination was completed in proportion to the circumstances of intercession stated by Baron and Kenny (1986).
4. Findings and discussion: Outcomes of the research proposal that rewards plus recognition drivers affect commitment; commitment additionally impacts IRP plus ERP. Generally, it can be inferred that rewards plus recognition can not only help to be the resources for workers to fulfil official job necessities but likewise might encourage them to take movements that exceed the official necessities of their works by appealing to them at work. At a theoretic stage, this research shows the difference between IRP and ERP and spreads current information on a commitment by involving it with the link between prizes and acknowledgement plus IRP and ERP. It can be identified that monetary support in the procedure of inducements pay surge and distribution of gratuities plays an optimistic part in handling performance. Consequences suggest that any prizes and acknowledgement practice which occupies workers would improve both IRP and ERP. Launching this exclusive device in the setting of the retail sector might add worth to the theory. Also, by expounding the reasons after ERP, the current results likewise increase consideration of backgrounds of ERP, which is moderately less planned. Pleasing sales workers through prizes and gratitude to develop their performance at mutually in-role and extra-role stages is measured to be valuable as a result. Suitable and reasonable prizes and recognition packages must be intended for presentations outside the distinct parts to encourage ERP. In this manner, both IRP and ERP might be improved by generating inspiring circumstances that simplify workers commitment to their labour. Organizations must likewise hearten contribution and response from workers to recover their continuing prizes and recognition acts.
5. Conclusion: Rewards are frequently demarcated in business plans. Henceforth, it is recommended that the application of rewards schemes must be focused more on appealing to workers rather than directing them on attaining directed performance since engagement-oriented reward packages might spread worker act at both in and outside role stages. Not merely monthly however too three-monthly, half-yearly, yearly or also longstanding performance-based variable salary/inducements/gratuity are efficient, however everyday gratitude of work might likewise be beneficial the way.
6. How this article will contribute to my final report: This study makes noteworthy offerings to works on worker engagement and that on the retail segment, which will show to be useful in my final report where I need to write elaborately on the rewards management system.
