It is why the focus of businesses has remained on hiring only the best. Finally, the paper has recommended of the measure Coca-Cola should apply to enhance the effectiveness of the reward system. The performance review system of Coca Cola includes the mid-year and year end career discussions between the associates and the managers. Role of line manager Line managers at Coca-Cola Company play a vital role in reward decision. After all the long term future of any global company depends on its ability to operate in a multicultural world and embrace ideas from diverse backgrounds.
Not merely that, company can besides alter the occupation demand in order to assist the employees win. Recommendations The Coca-Cola Company should not only reward the well performing and high profiled sub-ordinates but also encourage the less performing ones to build their confidence. It provides the associates with an opportunity to assess their annual performance against the set goals and objectives. In relation to our instance survey company — Coca Cola, it does good in moderately utilizing Maslow theory to motive its employees. We have continuously invested over the years with the aim of strengthening this important area of business performance, placing emphasis on employee development plans, internal talent management, leadership development for managers and employee performance management.
However, learning is not possible without fun and Coca Cola ensures that its employees get the necessary fun at work. Based on these cardinal demands, people will quest for the feeling of belonging and the self-pride. The rewards can either be tangible such as bonuses, allowances and pay rise or it can be intangible; personal satisfaction, personal development training and sense of accomplishment. Reward analysis Key factors in a successful reward environment A successful reward environment has to consider equitability and contentedness of employees. It can be divided into five parts. Furthermore rewarding is also important because it contributes on the employees performances.
The company applies best practice policy through ensuring the undertaken operations are transparent and can be accounted for. Training and Mentoring Allowing employees the opportunity to grow in their skills and be trained to do even more is a big focus at Coca-Cola. The paper has also evaluated total contribution reward and practice reward. The company has given goals one of them being consumer satisfaction. For this purpose the company has used several programs that keep the employees engaged. If you are traveling outside your home office, your network traffic will use the local systems and will be subject to local monitoring. They are things that when you take them off, people become disgruntled and act to acquire them back.
Coca-Cola Amatil 2014 This plan can increase employees work efficiency and prosecute everyone in a good work public presentation. Employees are encouraged to fall in the Individual Development Plan where they have the chances to spread out the accomplishments and abilities that will further back up their current function. In add-on, it besides provides the pensions benefits to guarantee people run into the wellness demands. Energizing Environment Coca-Cola also strives to offer an energizing environment that will motivate employees every day. For instance, in Coca-Cola Company communication process is efficient both internally and externally.
Other Coca-Cola Great Britain brands include Fanta, Sprite, Dr Pepper, Oasis, Lilt, glacéau smartwater, glacéau vitaminwater, Schweppes, Abbey Well, Honest, Appletiser, Powerade, Rose's Lime Cordial, Kia-Ora, and Minute Maid. As mentioned before, it sets the person development programs to offer more chances to assist employees better themselves Coca Cola Amatil 2014. This allows employees to be satisfied non merely economically but besides emotionally while working under Coca-Cola Amatil, because they get treated with regard and their attempt are being appreciated. It compares with those of large multinationals. A Coca-Cola Red Tag program rewards employees with travel and merchandise as a way to recognize exceptional performance. The company offers a number of development programs to encourage and motivate employees. And bringing out the best in them takes a dedication to development.
Instead of low esteemed employees feeling discriminated and motivated; they feel challenged and encouraged to work hard. There is a degree structure created by functions. Great place to work We think it's important for our employees to enjoy their working life and we want to make sure that working for our business in Great Britain is fulfilling, rewarding and fun. The card may not be used at any merchant, including internet and mail or telephone order merchants, outside of the United States and U. Employee motivation and engagement have become critical to organizational success.
They can either be monetary, non-monetary, performance-based or recognition rewards Oling, 2011. Company should speak to the employees to happen out whether they are treated unfairness and explain to them they are all been treated the same. An external agency makes the job description and weighs it. Human resource management has become central to excellent performance. Key reward principles and how they are applied There is a need to evaluate important reward principles and to discuss how they are applied in Coca-Cola Company. The organization performance is impacted positively, and that is why Coca-Cola is currently the best performing beverage company worldwide.