The brand Cheesy Pizza Company opened its doors in the late 20th century and operated as Tricon Global Restaurant before its Thailand contract was terminated in 1980. After two decades of stagnated growth, the Company rebranded itself as The Pizza Company. The increase was tremendous that by 2004, it had ventured into an international franchise. By 2014, the Company had opened subsidiaries in at least eleven countries latest being Myanmar where it launched its outlets in the countrys leading cities.
The Company offers a variety of dishes with the leader in the menu being Pizza which is a sumptuous meal consisting of bleached wheat flour, sugar, yeast, and soy oil. Other ingredients include; maize syrup, milk, cornmeal, enzymes and potassium bromate among others. Other main menu items in The Cheesy Pizza cuisine are the Italian-American Cuisine & French fries. Dining options offered by restaurants include dinner, brunch, and drinks. The services are customer friendly to all clients even those physically challenged. The restaurants are designed with ramps alternative routes.
As the year 2018 it fast clocking, the Company is set to enter the Singapore and Hong Kong viable markets by opening ten outlets in each country.
From the Human Resource Management Consultant perspective, the essay highlights the advisory positions to the Companys management on the rewards systems. I will seek to present convincing arguments that when the Company adopts, it will see employees appropriately motivated to maximise sales through maximum utilization of employees potentials. The essay will also highlight factors that Cheesy Pizza Company will need to consider when formulating a reward system for its management team and employees.
A reward system is a laid down structure entailing how the employees of an organization are attracted to do their duties more than is demanded in the job contract terms. It is an incentive that drives the employees to go out of the way in the effort to enhance the performance of a Company (Howard et al., 2017). For the rewards offered to the employees, the positive outcomes are enjoyed by the company. The Company is only tasked with the responsibility to align the rewards with what it desires to achieve.
The ambitious Pizza Company must develop a reward system to make employees fully explore their hidden and unexploited talents. The system forms a tool that when well executed, the Company is set to record a reckoning force in the hospitality industry.
Objectives of the Reward System
Extensive experience with reward systems shows a great positive impact on overall performance of management team and employees.
(a) Attraction and Retention - The reward system will serve to attract competitive employees within the Company and those from the main competitor(s) chains in Singapore and Hong Kong. The biggest challenger of Cheesy Pizza is the Pizza Hut. As we venture to the new markets, as the Company, there should be a deliberate move to maintain our employees from being attracted to the established restaurants in the leading towns like the Pizza Hut, Bistro November, Atlas Grand Lobby, and Bar. The rewards system includes commensurate salary to make workers operate in a conducive environment in line with the labor laws in Hong Kong and Singapore. To achieve this, the employees of Cheesy Pizza must invest in making the employee's fee more satisfied with jobs than those working in a similar environment.
Capacity building workshops will bond employees closer with the management. When such bonding is established, employees will be able to work as a team and deliver performance to the company. Employees in need will be able to air their needs with the management and colleagues thereby creating a friendly environment. The Company can set aside contingencies for workers who are befallen by a crisis such hospitalization. The company can pay a visit to the affected and console with employee teams. All these efforts will work to instill a sense of belonging to the company. The Company may agree with financial institutions within the outlets, for the management team and employees to get financial assistance secured through their salaries. The employees of the Company are then served with introduction letters to be presented to the banks management.
(b) Cultural influence - The other objective of the reward system in the Company profile is to influence organizations way of operations invoke innovation, participation, and flexibility among the management team and staff. The management and working staff are a powerhouse of ideas and cultural orientation in the new markets. Therefore, depending on the culture we desire to achieve as the Company, that is what the team behind us will do. The culture could take the dimension of competence, human resource oriented culture, entrepreneurial culture, an ethical and fair culture, a participative and all involving culture. The reward system can be predefined the Company to realize the goals it desires. As the Cheesy Pizza, the culture as we reach out to markets in Hong Kong and Singapore should be to build an entrepreneurial and innovative culture.
The employees and management team we shall absorb understand the clients more than the directors of the Company. When the employees and management come up with ideas, the directorship should be flexible to accommodate perspectives of junior management staff and all other sections. Let the Cheesy Pizza Company spell out the culture it desires and allow the teams in the field explore. The reward system works to recognize every innovative player of the Company bringing in great success to the Company. However, the practice of rewarding should be made constantly and instantly. Otherwise, the team will feel low in performance spirits.
(c) Motivation - Reward systems motivate employees to meet job and work objectives. When the system recognizes and reward employees for the effort put, it stirs up their problem-solving skills and prompt proactiveness when the need arises. They stop waiting for the management and other responsible organs to respond to issues dictated by common sense and knowledge. The system encourages diversification of culture in the Company.
(d) Reward System Reinforce and Define Structure the reward system will have strong impact on how integrated the organizations operations are undertaken. When employees are rewarded the same way, it tends to bring them together. When they are treated differently and unfairly, it splits them. The reward system for this Company should work to achieve teamwork, loyalty and reduce absenteeism amongst the staff. Also, the system should work to redefine the status of management team, team leaders and employees. On top, it can greatly influence the existing structure and enhance the upward mobility of the working staff regarding performance appraisals.
(e) Pay employees based on contributions to the Company -The reward system will award for contributions and effort made by the employees in helping achieve individual and company objectives. Whoever surpasses the target set will enjoy the rewards. Accompanied by the rewards, the employees will perform their duties more satisfactorily. Those who will outperform others will be rewarded more. In the long run, healthy competition will be realized.
Why Pay Attention to Reward System Design?
The reward system comes with its performance and monetary implication? The reward system will indicate to the company more about the products quality, services and the step-by-step designs that positively impact the organization. Its performance measure will tell us how we are doing, how our products are statistically monitored and control, how we are attaining our goals if there are urgent or future improvements we need to make and whether our staff and customers are satisfied.
Therefore, while rolling out this reward system, we should consider the following factors.
(a) Ability to pay versus the market position the reward system will cost significant amount of Companys money. Pay alone may represent sizeable amounts of the operating figures. Thus, it is crucial in strategically developing the system to shift focus on how these anticipated high expenses will be accommodated in the budget. Therefore, the Company should roll over the reward system when it is well prepared to meet maintenance costs continuously.
(b) To keep pace with internal and external pay equities it will be extremely desirable for the decision-making organ of Cheesy Pizza Company to consider what other organizations in the same industry are offering their staff. This will enable the Cheesy Pizza to enter the market at the same level if not better than the other players.
Across the internal departments, we make it competitive in compensation about job descriptions and labor laws in the countries. The guide will help enable us to reach a sound figure that is not too high or too low to contravene the basic rates of pay as defined in labor laws and regulations established in the destined countries of Hong Kong and Singapore.
(c) Future Orientation, Flexibility, and Adaptability the reward system will remain meaningful
while keeping pace with emerging trends, ability to adjust to new conditions and being resilient and compatible with the market demands. The system should be easy to modify when need and prevailing circumstances dictate so. The trends we presently see in the restaurant markets are technologically driven. Restaurants are embracing online shopping and home delivery of the food ordered via the online platforms. We anticipate in future trends to shift more in this direction.
(d) Future needs the restaurants are technologically savvy and is expected to establish more connections with customers around every corner. The reward systems should focus on digital enhancements that the management can tightly adhere to. As a result, reward system through the coordination of management and employees activities should work to establish a Cheesy Pizza restaurant that appeals to all of the hyperconnected future needs. When Cheesy Pizza Company succeeds in this transformation, it will maximize on the digital technology options to realize tremendous impacts in driving overwhelming dining frequencies, customer conversion, and loyalty.
Future needs of restaurants require a reward system that views future beyond the four walls. The broader the perspective, the deeper the relationships with more consumers. It is the value and level of this Cheesy Pizza Company desires that will bring a responsive, integrated reward system; not just the application of the reward system but also the transformation of the traditional restaurant cultures the define the future existence.
Factors to consider when designing a reward system
(a) Incentives the items that will be used to motivate and encourage employees must be considered beforehand. The approach could largely take a monetary angle and nonmonetary like recognition, training, given a chance to contribute, freedom to make proactive actions, benefits such as insurance plans and other packages that they can enjoy in a group or person. Incentives spire sense of belonging. Furthermore, the employees can be given the opportunity to lead projects and after that report feedback to the Company. When employees are trained, for example, the Company is giving them an opportunity to grow along with their career path. When they grow in career, the employees can provide quality services to Cheesy Pizza Company. Consequently, the Company realizes increased growth regarding sales, turn over and profitability. The ince...
If you are the original author of this essay and no longer wish to have it published on the thesishelpers.org website, please click below to request its removal:
- Personal Essay Sample - MBTI Reflections
- Paper Example on Ensuring Effective Communication in Organizations
- Hotel Upgrade - Paper Example
- Organizational Culture in Educational Institution - Essay Example
- Samsung History and Background - Essay Example
- Advising Carolina Baranowski
- Essay on Components and Functions of a Comprehensive Human Resources Management Program