Effect of Reward Management on Employee's Turnover Intention Essay

Effect of Reward Management on Employee's Turnover Intention - Essay Example Reward management strategies are implemented by organizational managers throughout the world in an effort to grab the attention of employees for the purpose of recruitment and subsequently retain the best of the employees thereby enhancing their job satisfaction level and enabling them to improve their performance consistently. The requirement for ensuring consistent performance influences HR managers to design rewards in such a way that they motivate employees to give their optimum effort in order to achieve both organizational as well as their personal objectives (Baumruk, 2009).2.2.  Financial Rewards Financial rewards are monetary benefit or incentives that are provided by organizations to their employees in addition to their regular compensation as a means to motivate the individuals to improve their performance and hence make a positive contribution towards the overall productivity of the organization. These rewards are generally distributed on the basis of performance delive red by an individual and are extrinsic in nature. Financial rewards includes payment hikes, annual or half yearly bonuses of increased paid holidays that come under an organization’s reward management scheme designed in order to enhance the engagement level of employees to towards the organization (Armstrong, 2010).   2.3.  Material Rewards or BenefitsMaterial compensations are incentives that are distributed by employers with the underlying aim of securing or improving the financial status of the employees.

Experimental Designs II Statistics Project Example | Topics and Well Written Essays - 750 words

Experimental Designs II - Statistics Project Example Blocking however has a number of disadvantages to a research initiative. It is not appropriate for large number of participants as large sizes reduces the design’s efficiency. Another disadvantage of blocking is in its rigidity with respect to homogeneity as it is not appropriate for populations or samples with extremely diverse features. â€Å"Interactions between block and treatment effects† also contribute to experimental error, discrediting reliability of the design (Hawai, n.d., p. 1). A factor refers to an independent variable that is manipulated in the research process and can be subjected to different treatments to generate a variety of factor levels. Using factors benefits an experiment by providing a basis for comparison of different treatments as each factor or factor level is subjected to a different treatment (Stat, n.d.). Mains effect refers to the variation of means across factor levels within a given factor. It considers a factor level mean and compares it with means of other factor levels to determine existence of significant difference. Interaction effect however considers variation of a factor level mean across levels of another factor in a ‘multi-factored’ design to determine existence of significant combined effects among factors in a design (Stockburger, n.d.). Covariate refers to a control setup in an experiment and reduces noise by predicting outcomes of the dependent variables. This helps in identifying outliers for appropriate measures (Druckman, Greeen, Kuklinski and Lupia, 2011). Tradeoffs define compromises that must be made in an experiment. Experimental tradeoffs are for example realized in validity. Ensuring both internal and external validity is a tradeoff that must be made with respect to sample size and sampling technique because strict focus on achieving one type of validity undermines the other. Practicality is another experimental trade off that considers research methods that call for adjustments to ensure