Human Resource Management Moderated Mediation Model

Question: Describe about the term for Human Resource Management for Moderated Mediation Model. Answer: Assessing the relation between motivational theory and reward in context to Talarius ltd Motivated employees are considered as the most valuable resource of an organisation. Therefore, companies has to remain focused on developing and applying appropriate motivational strategies for maintaining high level of performance of their employees (Armstrong and Taylor 2014). Being a gaming company of UK, Talarius uses different motivational techniques for keeping its 1,100 employees motivated and committed towards fulfilling organisational goals. In this case, Maslows hierarchy of needs can be linked, which is a motivational theory developed by Abraham Maslow. This theory includes five specific needs of employees those must be fulfilled by business originations and so as Talarius for achieving employee satisfaction. As per this theory, it is the responsibility of managers of Talarius to ensure that all the deficiency requirements are fulfilled. It indicates that employees must be provided with proper wages and safe working environment. Therefore, the managers of the company must promote such a working climate that helps employees to enhance their fullest potential. Thus, they become able to increase the overall productivity and performance quality of the organisation. Therefore, the company provide cafeterias for fulfilling the physiological needs of the employees. Apart from that, for providing job security, the company provides medical and retirement benefits, adequate salaries and solves issues of employees actively (Bloom berg.com 2016). Figure 1: Maslows hierarchy of needs (Source: Mathis et al. 2016) Moreover, the company implements 360-degree performance appraisal for rewarding their employees based on their performance quality and contribution toward the organisation. The managers carry out an open communication with their staffs and encourage them for participating in organisational decision-making process. Thus, employees acquire self-esteem that is reflected in their performance outcome. Regular performance appraisal helps managers to identify the training needs of employees that are provided to them for encouraging their creativity and ability of dealing with challenging situations (Bloomberg.com 2016). Evaluating the job evaluation process and other factors that determine pay within the organisation As stated by Jiang et al. (2012), evaluating jobs is regarded as the mist crucial activity carried out by human resource department of any company. This is because job evaluation plays a vital role in devising the compensation technique for its staffs. Job evaluation is a process of analysing the difficulty level of employees in terms of their competency level, qualification, skill sets, acquired talent, dedication and target achievement toward their jobs. All these are important factors determining pay or compensation package of employees work at different levels of Talarius. In this company, employees are motivated through motivational factors those are mostly non-financial, which encourage them to perform beyond their competency level. Hence, job evaluation in Talarius is mainly carried out for keeping the motivation level elevated of the employees. Hendry (2012) commented that, some external factors are there that also determine the pay level of employees including economic environment, industrial scenario and so on. These factors also influence the compensation package of Talarius. The gaming industry of UK is highly dynamic and the sector has to face various challenges. This sector provides 35000 jobs around 12 clusters of UK. Therefore, economic condition of the gaming industry determines the pay of Talarius. Apart from that, the company maintains its employee engagement effectively with the help of morning briefing, intranet and magazines. Measuring the effectiveness of the reward system in Talarius ltd Reward system is very crucial for decreasing employee turnover rate and retaining valuable employee within the organisation. As pointed out by Purce (2014), employees, who are dissatisfied with their jobs or employers tend to leave the organisation in search of higher recognition, higher pay on another company. Therefore, rewarding employees in a proper way can help Talarius to prevent employee turnover. As commented by Alfes et al. (2013), reward can be provided in two distinct forms financial and non-financial. Non-financial rewards effectively increase employee satisfaction and dedication toward the organisation. It increases the competency level of employees. Therefore, when it is provided to the employees of Talarius, it encourages them to come up with innovative ideas that enhance their ability of performing competently. Such rewards offered by the company include dinner or lunch with CEO, providing the reasonability of taking important business decision, upgraded office and so on. Although, the company mostly provides non-financial rewards to its employees; however, it provides some financial rewards too such as, job enlargement; job enhancement and job enrichment that encourage employees to perform in a superior way. The reward system of increasing employee engagement applied by the company is highly effective, which increase employee creativity in developing more games that are attractive. Thus, the reward system increases employee motivation of Talarius effectively, which enables the company to decrease the employee turnover rate significantly (Bloomberg.com 2016). Examining the various methods used for monitoring staff performance Monitoring staff performance is useful for both employees and employers of an organisation, as it helps employers to identify the valuable resource exist within the workforce and employees to understand their level of competency (Bennett and Ho 2014). Storey (2014) pointed out different methods of monitoring performance such as, check in regularly, feedback, benchmarking, appraisal and so on. In Talarius, managers directly monitor the performance of their employees, as it is one of the most effective ways of watching and evaluating the performance quality of employees. Regular and direct monitoring carried out by the company helps to analyse performance quality of employees and to build a strong relationship with them. Apart from that, the 360-degree appraisal process also helps the managers to analyse the performance quality of staffs from different sources including peers, subordinates and superiors. As commented by Hendry (2012), the survey conducted for the 360-degree appraisal works best, when the results are discussed with employees for increasing their learning and taking their feedbacks. Thus, it helps Talarius, to carry out an effective assessment of employee performance quality. Furthermore, for monitoring performance quality of staffs, the managers of the company also carry out customers satisfaction survey. The result of this survey helps the managers to analyse the effectiveness and loopholes of employee performance. Reference list Alfes, K., Shantz, A.D., Truss, C. and Soane, E.C., 2013. The link between perceived human resource management practices, engagement and employee behaviour: a moderated mediation model.The international journal of human resource management,24(2), pp.330-351. Armstrong, M. and Taylor, S., 2014.Armstrong's handbook of human resource management practice. Kogan Page Publishers Bennett, J.M. and Ho, D.S., 2014. Human resource management. InPROJECT MANAGEMENT FOR ENGINEERS(pp. 231-249) Bloomberg.com. 2016. Talarius PLC: Private Company Information - Businessweek. [online] Available at: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=216923 [Accessed 17 Aug. 2016]. Hendry, C., 2012.Human resource management. Routledge Jiang, K., Lepak, D.P., Hu, J. and Baer, J.C., 2012. How does human resource management influence organizational outcomes? A meta-analytic investigation of mediating mechanisms.Academy of management Journal,55(6), pp.1264-1294. Mathis, R.L., Jackson, J.H., Valentine, S.R. and Meglich, P., 2016.Human resource management. Nelson Education. Purce, J., 2014. The impact of corporate strategy on human resource management.New Perspectives on Human Resource Management (Routledge Revivals),67 Storey, J., 2014.New Perspectives on Human Resource Management (Routledge Revivals). Routledge.