Advantages and disadvantages of ib4e, Business Management

Assignment Help:

Over the past few years, the company iB4e has underperformed compared with its competitors which enjoy stronger brand recognition. In addition, lots of experienced staff responsible for key customer accounts has left the company. Even though it pays comparable salaries to its rivals, iB4e has had difficulty replacing these staff with outside appointments. This has led to some existing employees temporarily taking on customer relationship management in return for small one-off payments. This has been good for staff morale but the effectiveness of this calculates as a long term alternative to appointing suitably experienced new staff is questionable given that some of these staff has been more successful than others.

Describe the advantages and disadvantages of iB4e developing a 'total reward package' approach.

Advantages

There are various clear advantages to iB4e developing a 'total reward package' (TRP):

  • Retention and motivation. In return for maintaining the package, the organisation will receive greater staff continuity and engagement. If correctly developed, a TRP approach will help iB4e retain and motivate high quality staff. The TRP approach can strengthen and preserve staff retention and employee motivation.
  • Attract talented staff. A main issue for iB4e appears to be difficulty in recruiting staff. This suggests that although genuine advantages exist, prospective employees do not know about them. It is significant that iB4e continues to attract talented staff and

Disadvantages

There are also several potential disadvantages to iB4e developing a TRP:

  • Other poor recruitment processes. The difficulty in recruiting new staff might be caused by some other factor like as use of inappropriate advertising media, poor advertising copy, response deadlines too tight etc.
  • Additional costs. If the advantages involve additional costs. The Director believes that additional bonuses for good performance could be given and this will add to organisational overheads. There will also be a cost associated with monitoring, managing, communicating and keeping the scheme under review.

 


Related Discussions:- Advantages and disadvantages of ib4e

Centralization of authority and responsibility, Ask question the principle ...

Ask question the principle of centralization and responsibility

General partnership as business structure, Rene's decision In 2004, Rene...

Rene's decision In 2004, Rene opened his shop with only one full-time employee. Since then Rene has added two general partners and greatly expanded the operation. Over the past

#title.what is economic justification for the rapid growth ., what is econo...

what is economic justification for the rapid growth of premium package services?

Office administration, 1.how to draw a stock control card and discuss the c...

1.how to draw a stock control card and discuss the completion process . 2.Discuss the layout of the work space, to prevent accidents and injuries. 3.Explain the difference in level

Determine expected profit on treaty, Question: A small general insuranc...

Question: A small general insurance company (A) writing only property business cedes a quota share reinsurance arrangement to a reinsurance company (B). The treaty cedes 40% of

Free-market quantity of public goods, We said in class that public goods in...

We said in class that public goods involve externalities. Are the externalities associated with public goods generally positive or negative? Use an example in your answer. Is th

Market segmentation, analyize the consumer segmentation in blackberry mobil...

analyize the consumer segmentation in blackberry mobile

Write short note on improving business qualities, Q. Write short note on im...

Q. Write short note on improving business qualities? Ans. One of the strategic business worth of information technology is its role in making major improvements in a company's

Procedure for planned maintenance, maintenance procedure is to prepare the...

maintenance procedure is to prepare the facility register. The facility defines what is to be maintained. It gives the complete details of all the items and facilities whic

Instructional leadership, Academicians are constantly pursuing ways for ref...

Academicians are constantly pursuing ways for reforming the strategies and systems in education in view to improve its quality as well as its outcome. Developing efficacy to addres

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd