Discuss Some of the Incentives Used by Tesco Company to Motivate their Employees
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Motivation is the inner force or impulse that drives, guides or stimulates one to achieve organizational goals. It involves the social, biological, cognitive, and emotional forces that compel an action toward a given goal. For any organization to reach its goal, a motivated workforce is the most important resource. A motivated workforce adapts the company’s philosophy and increases efficiency, building a successful organization. While it is easy for management to know what to expect from employees who share a similar background and culture, a multicultural workforce requires more time and dedication since the different employees will require different management and motivational techniques. While rewards play a major role in motivating employees, it is vital for employers to first understand their employees and what actually motivates them. While some employees see money as the main motivator, others find rewards such as raise in compensation, Promotion, positive feedback, and recognition to be more motivating.
How does Tesco motivate its employees? An in-depth analysis of Tesco’s HR practices shows that it motivates its employees through a focus on training and development that imparts them with the right skills, and knowledge as well as a fair rewards and recognition programme. This in turn leads to job satisfaction.
Tesco also uses to ensure high motivation among its employees is its 'Listen and Fix' system, a two-way communication program that encourages staff members to communicate their thoughts to top management through text and email plus other channels, and in return get responses from top leadership. The aim of this system is to make Tesco a better place to shop and work, by identifying and addressing key issues that matter to employees.
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Discuss Some of the Incentives Used by Tesco Company to Motivate their Employees a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the concept of employee motivation and its significance in an organization.
- Identify and understand the incentives used by Tesco Company to motivate their employees and analyze the efficiency and challenges of the incentives
- Apply the knowledge and skills learned from this topic to design and implement appropriate incentives for motivating employees in real-life scenarios
1.0 INTRODUCTION
According to Mullins (2016), motivation in its simplest form refers to the creation of incentives and a working environment that allows employees to perform to the best of their ability. It is a state of positive emotion resulting from the assessment of one's job experience. In fact, David and Anderzej (2010) have defined it as cognitive decision-making with the intention of making behavior aimed at achieving a given goal through initiation and monitoring.
Mullin (2016) argues that motivation is the foundation of all organizational activities considering that the relationship between employees and the organizations is influenced by what motivates them to work and the satisfaction they derive from it. In fact, an organization is most likely to achieve its goals and objectives if its workforce is highly motivated (Huczynski and Buchanan 2013; Mullins 2016).
According to Huczynski and Buchanan (2013), a motivated group of employees is a sign of a successful organization. In fact, motivated employees are most likely to work and achieve greater output, reducing labor costs. They tend to show pride in their work, require less supervision, and create a positive impact on customers, improving overall performance.
Tesco's company depends on two groups of people (workers and consumers), without which it cannot function. Tesco rewards and supports its employees with a work/life balance by providing them with flexible working hours, subsidized gym membership, competitive compensation, business share options, and free or reduced-rate health care, among other benefits. This is because the organization understands that rewarding employees by providing realistic goals and an exciting work environment promotes employee motivation. Indeed, analysts contend that motivated employees are more loyal and customer-focused.
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