Human Resource Managment Essay Example | Topics and Well Written Essays - 2000 words - 1

Human Resource Managment - Essay Example Figure 1 Applying the principles of total reward strategy into reality, Taj Group devised the STARS (Special Thanks And Recognition System) as an attempt to appreciate the excellent performers and making employees happy by recognizing their efforts and contribution made to the organizational success. STARS was more inclined towards fostering a spirit of cooperation, motivation and excellence by introducing more of intrinsic rewards than cash awards. STARS as such, worked as a five-level strategy where employees earned points for their acts of kindness, hospitality and teamwork (Chandran 2003). Based on the accumulated points, employees were put into silver, gold, platinum, etc. grades and were applauded in public. An overview of the nature of reward system and its components at Taj are shown in table 1 below: STARS Level 1 Level 2 Level 3 Level 4 Level 5 Grade Silver Gold Platinum Chief Operating Officer’s Club Managing Director’s Club Points 120 130 250 510 >760 Time l imit 3 months Within 3 months of attaining silver grade Within 6 months of attaining gold grade SPECIFIC FEATURES OF STARS Receipts Only recognition, no cash awards Acts Honesty, kindness, leadership, teamwork, etc. Gathering points Positive feedback or appreciation received either from colleagues or customers Rewards Hampers, vouchers, free vacation sponsored by Taj Group, etc. Recognition Award giving ceremony to highest point earners and public display of their photographs. Table 1: Components of STARS at Taj Group The incorporation of STARS fulfills the basic underlying principles of reward management. As Taj Charter says, its people philosophy is orchestrated to make employees feel important and special while working at Taj (Chandran 2003). Its core principle remains to attract,... This paper approves that reward management facilitate employees remain stuck to the organization’s vision of quality, responsiveness and assurance. Cross-functional teams which are the talk of the town also perform well when total rewards strategy is put in place. Reward management even establishes a sense of equity amongst employees whereby they feel that efforts of every single person are appreciated proportionately. The research conducted on Le Meridian’s Hotel of practicing reward management as one of its core HR strategy put forth many positive findings, major of which was employees ranking high on their health and energy aspect. This essay makes a cocnclusion that Taj Group has no doubt innovated in its human resource adaptations and aligning its business objectives with that of people objectives. It thrusts on people-oriented culture rather than work or profit oriented one. This is the reason behind its immense success and expansion spree worldwide. Same feat is replicated by Le Meridian Hotel in Mauritius which is also known for its top class quality and service delivery. The commonality between both remains their people strategy and inclusion of a total reward component in their HR dimension to retain their best talent. Both these hospitality giants present an example of how recognizing and appreciating the efforts of people can garner unimaginable benefits and growth prospects to a service business. Though sustaining on such philosophies and making them happen against set standards remain risky, yet what these two have done is commendable and should be followed by others in the industry.