Remuneration and Employee Motivation in the Retail Industry Research Paper

Remuneration and Employee Motivation in the Retail Industry - Research Paper Example The current paper focuses on the examination of the relationship between remuneration and motivation in firms’ operating in the retail industry. It seems that employee motivation is strongly affected by the remuneration policies used within a specific organization. However, this relationship has many aspects; it is possible for the employees’ performance to be kept at high levels even if the amount of compensation (or other benefits) paid to employees is not increased. The skills of the managers involved in the relevant efforts are of critical importance for the achievement of the above target. The above assumptions have been also verified in practice through the survey conducted for this study. Most of the participants – employees in two large shopping centers in London, UK – have stated that the conditions in the workplace are quite important for their performance – even if the remuneration is lower than expected. However, in the long term, a fair remuneration strategy is required in order for the productivity of employees to be kept at high levels. The increase of employee motivation – as a factor influencing their performance – can be achieved only through appropriate HR policies. The conditions of the market, however, have also a crucial role; during periods of strong financial turbulence, the ability of managers to proceed to specific initiatives like increasing the remuneration of employees is limited.