Friday, August 23, 2019

Rewards Managemnet of Adidas Essay Example | Topics and Well Written Essays - 2000 words

Rewards Managemnet of Adidas - Essay Example Introduction Adidas is a manufacturer of sports apparel and is consists of a Reebok company. Adidas was founded by Adi Dassler’s Whose aim was to ensure that every athlete with the necessary equipment (Adidas Group, 2010). The company was started in 1920 when Adi Dassler’s made the first shoe for sporting activity. Adidas has realized tremendous growth and has expanded because of their products that are preferred because of their quality and design .Adidas produces products like watches, shirts, bags and other sports related clothes (Adidas Group, 2010). The company has its products distributed across the globe and their brand is one of the most preferred by sport fans and players. In terms of employees, the company has a total of 42541 according to 2010 results and about 14250 working in Adidas headquarters (Adidas Group, 2010). The largest number of employees are the retailers. The FIFA games are a major source of success to the company. During such admired and renown ed sports, the company realizes a high turnover in their products hence more profits. The different products of the company have also been very instrumental in the reduction in fluctuations in return. As a sportswear manufacturer, Adidas main customer segments are the sports fan and other teams that prefer their clothes and other playing instruments (Adidas Group, 2010). ... The organization workers remuneration should reflect their value to the company. Reward management is therefore concerned with formulating, implementing, and reviewing of the employee reward system to ensure that the employees efforts are recognized in the attainment of the organizations goals (Redfern, 2009). Employees reward system should motivate the employees in offering their services to the organization. It is therefore an indispensable segment of management that must be closely monitored by the organization in their effort to ensure organizations success (Geoff & Druker, 2005). Human resource academicians have therefore developed an interest in the study of reward systems and have developed theories to explain the need why organizations should develop effective reward systems. One such reason why employees should be rewarded is to motivate employees and involve them in the distribution of the returns of the organization (Blyton & Turnbull, 1992). Purpose of a Reward System Org anizations reward their employees in order to attract the right employees for the right jobs at the right time (Heneman, 2002). Reward system is also maintained for the purpose of retaining the employees of the organizations by recognizing their efforts and contribution in the work place. Finally, employees will also be rewarded for the purpose of motivating the employees in order for them to do their maximum in the attainment of organizational objectives (Grant, 1990). These three are the primary reasons as to why employers will reward their workers. According to Shields (2007) other reasons why employees are rewarded and that form the essential characteristics of a good reward system include: Need fulfillment i.e. the employees reward should be

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