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MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT - Essay Example
Finance & Accounting
Pages 9 (2259 words)
Name: Tutor: Course: Date: University: Management Accounting and Financial Management: Vodafone Company Introduction Reward systems are critical in organizations and their impact to the quality of life of people within the organization. The human resource management is among the most crucial functions in an organization…
Vodafone Company is a British multinational company that deals with telecommunication services. It holds the second position mobile telecommunication company worldwide. The company owns and operates in more than 30 countries. Evolution of Vodafone brand started in 1982 after the establishment of Racal electronics plc when Jan Stenbeck spearheaded the joint venture between Millicom and Racal Vodafone. This evolved to the modern day Vodafone. Recent research indicated that Vodafone has introduced a tiered employee reward program that offers an incentive to over 79,000 employees worldwide. The Vodafone announced its intentions of creating the ‘Vodafone Heroes’ both internally and globally. This saw the company rewarding some of its stars. The Vodafone Heroes are entitled to quarterly incentives voted upon through the company’s SMS system. The company also recognizes its heroes on an annual basis where the management must select any gift and give to the people who perform exceptionally (Eaton & Duncan 2002, p. 284). While it is a great thing to recognize and reward employees, Vodafone is faced with challenges in establishing the reward and incentive systems for their employees. ...
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