Task 9 - Remuneration

Remuneration often come after a satisfying result or the effort a person put into completing task set out for them. Remuneration comes in two types monetary and non-monetary. Monetary remuneration could come in the form of salary, gift, bonus and commission. If you are contracted to work on a project, remuneration such as salary are often a negotiation between you and your client. A client will often consider a higher paid contract to be more important, serious and professional due to the sum of money involve. Often when working within a group of contractor the client will be more open to offer a higher management position to a contractor that gets pay more, again it is the money level that determines professionalism. Figure 1. Monetary remuneration.

Non-monetary remuneration could include things such as promotion, knowledge and recognition from employer or client and/or the public such as a simple thanks or award. However most people are happier in a job when receive non-monetary remuneration, as it is these that make them feel like a team, it creates a friendly work environment.

When developing a remuneration system a company should try to make the remuneration something that “attract, retain and motivate employees and at the same time support implementation of company’s strategic objectives and enforce its organisational culture”[1], this way their work quality could be improve as they feel that they are working towards something. This way it acts to the advantage of the company overall, employee get remuneration and company get better work standard.

Remuneration in terms of our collaborative project: Praising and thanking a team member for work done is remuneration. It is require in a team environment as it is the thing that drive the success of the project, and makes each member feels that they are part of a team.

In this project I am sure that most group members would agree that knowledge and experience is the most obvious remuneration gained. Knowledge gain from doing this course includes collaboration amount students and tutors, reflective work for wiki and blog, effective communication, presentation skill and learning UT3. For me personally it is the experience gain form been in a presentation environment, which I am certain will help in preparing for the future when presenting project to clients.
_____________________________________
[Figure1] Umicore, “Performance management”, Umicore, (2008), http://www.humanresources.umicore.com/ourPhilosophy/performanceManagement/, viewed 20 May 2008.
[1] HRK Partner, “Effective remuneration”, HRK Partner, (2006), http://www.hrkpartners.pl/en/effective_remuneration.php, viewed 20 May 2008.