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建立人际资源圈Human Resource Report of Coolyland---Report代写范文
2016-08-19 来源: 51Due教员组 类别: Report范文
Report代写范文：Human Resource Report of Coolyland这篇Report范文讲述了coolyland位于威尔士彭布鲁克郡一个娱乐公园，世界各地的游客都抢着在这里享受自己的假期，CoolyLand在夏季多雇佣季节性员工。管理层必须改变他们对待员工的方式，提供与竞争对手不同的服务和策略。并帮助他们实现在公司自己的职业发展，提高高员工的满意度和忠诚度提供固定工资和各种福利，才能留住员工。
INTRODUCTION
CoolyLand is an entertainment park located in Pembrokeshire, Wales. Due to its famous beaches and coastal national park, tourists around the world are rushing to enjoy their holidays here and this fever reaches the peak during summer. Therefore, in order to run the park more efficiently to accommodate for the season changes, CoolyLand hires more seasonal staff during summer time to fill the positions such as cafe assistants, park cleaners and rider operators,etc. Given the background of CoolyLand, employees were treated in a hard approach since it was a family-owned and profit oriented business before the acquisition by HolidayInc. Due to its unbalanced welfare and fierce competition, the turnover rate of seasonal staff is so high that many of them leave before the end of summer and even fewer of them would come back to work again in the next year. The decreasing in profit and increasing complaints from customers have drawn the attention of CoolyLand management leaders. Therefore, this report aims to solve the issues mentioned above and helps CoolyLand to recruit and retain the best employees which would in return help the park make profit again. Therefore, the management team has to change the ways they treated the staff so that the employees would get different commitment from their boss including training, new salary systems, bonus and etc.
After the acquisition, CoolyLand becomes a subsidiary of HolidayInc. and it still faces the common issues of this industry, such as high, year-round, fixed overheads with remarkably high maintenance cost and land rent. Within CoolyLand itself, employees are generally divided into permanent and seasonal sections. Permanent staffs are mainly responsible for the daily management and company strategic works, and they have clear promotion route and career development. On the contrary, seasonal staffs are very vulnerable and subjected to the fluctuation of this industry and usually have lesser chance of promotion. In addition, it is expected that theme park industry will generate around $32billion revenue in 2017，and entertainment parks are tends to become more specialized to attract customers (Amusement & Theme Parks World Report, 2015). CoolyLand, as one of the leading Theme Park in Wales, therefore, faces a huge potential market but needs to offer different services and strategies from its competitors in order to make constant profit and survive in the long run.
RECOMMONDATIONS
Recruitment and Selection
Recruitment is to gather a pool of candidates who are qualified for the company’s requirements， and selection process is to pick the most suitable candidates out of the pool for the positions. According to Silistre (2007), in Microsoft, hiring the most suitable staff is more important than hiring the best people. In this case, due to the nature of the business, CoolyLand needs to hire lots of seasonal staff to operate rides, entertain and assist customers, fill in the restaurant or cafe and souvenir shops. Hence, before CoolyLand goes into the recruitment and selection process, it is highly important to figure out what special traits are required for those specific jobs. For example, the hiring department should realize that the seasonal staffs are basically responsible for providing services to tourists; thus being warm-hearted should be the most important quality when selecting employees for this job.
George Bradt and Mary Vonnegut (2009) states that sourcing of candidates requires human resource management specialists use a variety of methods to find suitable candidates for job vacancies. In the case of Microsoft, it applied at least three methods such as campus recruitment at top universities, lateral recruitment and headhunting (Torrington, Hall, Taylor and Atkinson, 2011). However, the current situation for CoolyLand is that the seasonal staffs in Entertainment Park are not required to be highly educated or have any special skills. Those three methods mentioned adopted by Microsoft consumed too much resources and may not be effective when applied directly to CoolyLand. Given the location and specific conditions of CoolyLand, there are several existing ways of recruitment that are proven to be effective. First of all, CoolyLand could spread the job recruitment advertisements through the means of internet. Detailed and accurate description of positions vacancy, application process and relevant requirements for employees can be viewed on CoolyLand's official website and Google Events. It is less costly than other ways of advertising and able to attract interested candidates around the country. Secondly, the population in Pembrokeshire reached 122,400 in 2011 (UK Census, 2011), which could provide a great number of suitable employees for CoolyLand. Thus holding a job fair in Pembrokeshire can be an effective and economical recruitment method. Some local students who have summer vacation or retired senior residents may show some interests in such seasonal working positions. Finally, local newspaper is another efficient channel in gathering potential candidates for those positions. Facing the fierce competition from its competitor, CoolyLand has to make its recruitment advertisements unique and attractive. The content of those recruitment announcements should not only be interesting but also cover the special treatments such as benefits, welfare and salary details that the staff can get when working at CoolyLand.
According to Mike Smith (1989), applying correct selection process is quite vital for the company. Otherwise, employers may need to spend much more time to manage those staff not suitable for their positions, which may directly impact the overall performance of the company as well. Therefore, the selection process of Microsoft is diversified and complex, aiming to find the most suitable employees. For instance, curriculum vitae (CV) evaluation, several rounds of interviews and written tests are applied based on different requirements to select brilliant and creative people for this technology company (Silistre, 2007). Unlike Microsoft company, the seasonal positions at CoolyLand are not technical skill-demanding and do not need too much complex ways in selection process. There are two kinds of jobs in general at CoolyLand. The first one is face-to-machine, which requires the candidates to know how to operate entertainment facilities and machines. The other one is face-to-people, which needs the candidates to be good at communication and dealing with people. Generally, there are three steps in selection process. Initial screening takes the first step, which involves reviewing the information provided by candidates and making judgment to decide which application is worthy of further consideration. Human resources (HR) of CoolyLand should evaluate which quality or advantage of the candidate possessed is useful to operate the park at first. Then they could assign different weight on specific part of the resume to get a final score on this candidate. For example, the past experience of working as a rider-operator can be a plus for the candidates of face-to-machine positions; while participating in social activities could demonstrate that the candidates are familiar with dealing with people, thus training them to be good service assistants in potential will be a good choice in selection progress. After the first round of selection, selected candidates could enter the next step, interview for the specific position. Detailed questions in regards of the structure of machine, the safety notes of operating riders and etc. can be used to interview the selected candidates. This specific interview could inspect the operation knowledge of the candidates directly. Hence it can save time and money to hire the employees who are familiar with their job content. However, in the interview to select candidates for service assistants, HRs should use some subjective questions and case studies to make judgments on candidates' communication skills as well as their reactions to emergency situations. Last but not least, in the final round of selection process, applicants can be invited to CoolyLand and work as an intern for 2 days at their applied positions to see how they may behave in daily working environment.
Training and Development
Training is the systematic acquisition of skills, rules, concepts, or attitudes that result in improved performance (Goldstein & Ford, 2001). The staff training sessions is very importantfor CoolyLand employees in order to serve customers better and run the entertainment park in a more effective way. Park orientation should be given before staff going for duties officially. This orientation should cover the introduction of Pembrokeshire, CoolyLand Entertainment Park, the time shift schedule of daily work and all the facilities in this park. In addition, working procedures, expectations and basic requirements should also be emphasized during the orientation. However, before conducting such orientation, CoolyLand should do a detailed research on the customers’ behavior in terms of their nationalities, preferences on souvenirs, and complaints. In fact, there are no motorways and airport in Pembrokeshire, and railway is the only transportation choice for tourists that are living far away from the area. It's reasonable to assume that local residents and native people consists most of the tourists in CoolyLand (Braun, 2000). If the research shows the opposite, service staff who can speak more languages should have an added advantage. Besides, first-aid and CPR skills should be taught to staff to learn， becausesafety of tourists is always the first priority for any entertainment parks.
In addition, CoolyLand could construct a special training structure as well. For instance, it may give the best performance staff the chance to teach and train others how to work better. Those employees who are assigned the job of teaching can also receive a small amount of bonus incentives, making them gain both spiritual and material honor at the same time.
According to Torrington, Taylor, Hall, and Atkinson (2011), there are two methods of learning and development: on-the-job method and off-the-job method. On-the-job method means employees gain experience through observing their seniors performing the job, then trying to understand the work and imitate their behavior. On the other hand, off-the job method is conducted away from the immediate workplace, usually providing with study materials, which provides general skills and knowledge for the job. Therefore, in order to apply the best learning and training method, CoolyLand should update the customers' feedback and trace the overall industry dynamics regularly, so that it can have a better understanding on the advantages and drawbacks of its daily operations and find out what their competitors are doing to run this business. Next, based on this understanding, it can provide updated training courses for the staff to serve customers better on a weekly or monthly basis. Meanwhile, CoolyLand should also encourage staff to summarize their daily work regularly and improve the performance accordingly. Besides, it can provide some training sessions in regard of other skills for those seasonal staff online or offline which can benefit them for the future career path.
However, the hiring and training process for a new employee is costly, and of course Coolyland expects lower turnover rate to save expenditure. Unfortunately, the turnover of seasonal staff is always high because usually this temporary position lacks of promotion mechanism(Saporta & Farjoun, 2003). Therefore, this kind of staff may choose to leave CoolyLand if they can only play the role of assistants or get a better pay in other entertainment parks. Thus, CoolyLand should provide a specific training method for those seasonal staff and give them chance to get promotion. The core object is to take full advantages of staff who show working talents and can bring benefit to CoolyLand through suitable training. Besides, adding the career objects of staff and operation objects of company into the training program should be the ultimate goal of CoolyLand.
Retention and Rewards
Managing the finances of a business can be time-consuming and challenging at times. Torrington et al. (2001)once stated that payroll management is one of the most important issues that HR should consider. On the one hand, it is a major factor which will influence the profitability of an organization and determine whether this organization could survive in an industry. On the other hand, salary plays an important role in deciding what kind of living standard the employees are able to enjoy. If the pay or reward is not reasonable, employees may not have enough incentive to perform well for their duties and this will lead to a less productive team In addition, daily attendance rate could decrease accordingly and leading to a worsening working environment. In this situation, everybody loses.
Therefore, CoolyLand could make its pay and reward policies based on efficient performance appraisal system. Fletcher (2001) defines performance appraisal as “a variety of activities through which organizations seek to assess employees and develop their competence, enhance performance and distribute rewards”. CoolyLand could gather feedbacks from customers and sales records to evaluate the overall performance of a seasonal staff. Although CoolyLand is not a listed company which cannot apply stock option incentive plan or employee stock ownership plan, it could still set a profit threshold above which the staff can get bonus for the extra profits.
Apart from fixed salaries, flexible bonus, venture fund or stock incentive option, for the staff could be another choice to encourage employee to work harder. For instance, Securities recently announced that if its employees who worked for the company over 5 years and ranked over a senior vice president can apply for a venture fund over 5,000,000 China Yuan (CNY) (Roughly 500,000 pounds) when they leave CITIC Securities. However, most staff working in CITIC Securities are usually elite in China (He, 2014), while seasonal staff in a theme park such asCoolyLand are normally with low education level(Braun, 2000). But similarly, setting a fund for brilliant workers is still applicable and useful, which can not only build employee loyalty for the company, but also encourage staff to try their best to work and make innovation in their position.
Employee benefits are commonly known as ‘fringe benefits’, this plays a role of supplement in the typical pay package (Torrington, Hall, Taylor, and Atkinson 2011). Apart from what mentioned above, employee benefits or rewards can also be presented in non-monetary forms. It can include sick pay, private health insurance, staff discounts, live-in accommodation, holiday and etc. For example, Microsoft offered various benefits to its employees, such as full healthcare coverage and insurance, discounts on electronic related products and services, and financial education program which can help employees to make financial investment and earn money (Romano, 2006). Similarly, CoolyLand could provide all the non-monetary benefits mentioned above. Besides, in accordance of the specific situation of Entertainment Park, it may also provide the park's entrance tickets, vouchers, free lunch, shuttle bus for staff to commute and relax themselves.
Moreover, there is still another issue that should be addressed regarding seasonal staff.For part-time workers, they may have other jobs available once quitted. However, for full-time workers that employed during summer peak time with no other available jobs, finding a new job during the rest of the year may lead them to leave this place. Since CoolyLand has been acquired by a large leisure company, HolidayInc., it may help those people find other suitable jobs within this group. This will lead to a higher retention rate for them.
According to the study done by Torrington, Hall, Taylor and Atkinson (2011), if CoolyLand can apply above mentioned pay and reward strategy, following five objectives could be achieved. Firstly, it could be helpful for attracting new staff since CoolyLand offered a sufficient reward package to ensure the satisfaction staff needs. Thus in the future, applicants will receive positive judgments from current employees which can provide the organization more opportunities to fill its vacancies. Secondly, it could help retain skilled staff. An attractive reward system and promotion mechanism will lead current employees to walk along the career path designed by CoolyLand and achieve the win-win outcome. Thirdly, it could motivate staff efficiently. Besides providing bonus or allowances, CoolyLand also offered many non-monetary rewards which could inspire employees to work hard to achieve employers’ objectives and work beyond contract to achieve their own career objectives. Fourthly, CoolyLand's reward strategy is also a sort of power to encourage innovations. This is because after applying performance appraisal, employees have to change their working ways or adjust their working attitudes to get a good performance appraisal review which will decide their rewards in company accordingly. Last but not least, reward strategy could help company building a good corporate reputation. The benefits and rewards CoolyLand provided are very diversified and humanized, which could increase employees’ satisfaction. Higher employee satisfaction could help company building a good employee brand which is exactly helpful for recruitment and selection. Therefore, a virtuous circle can be formed in company. At the same time, good corporate reputation is also beneficial for attracting and retaining a strong customer base.
Conclusions
The overall structure designed above covers activities from recruitment and selection to reward and retention management. It focuses not only on recruiting the most suitable people but also on their long-term retention, which is quite vital for the company to achieve its long-run objectives. Moreover, by facing the more and more fierce competition in labor market, this structure could give candidates a very good impression and help them achieve their own career development in the company. Besides, those methods provided above are affordable and will not bring much pressure on its budget. Subsequently, building a promotion mechanism can help staff get opportunities to further utilize their talents and at the same time grow with CoolyLand. Lastly, the structure also emphasizes on retaining employees by providing fixed salaries and various benefits in order to increasing employee’s satisfaction and loyalty.
Evaluation
CoolyLand can set short-term and long-term goals at beginning and evaluate the performance of the company and staff accordingly. At the company's level, CoolyLand could check the number of tourists and customers' complaints, the financial performance and its competitors' performance. This gives CoolyLand a relative macro way to check whether this system works or not. If number of tourists and total amount that customers consume in this park increase, or number of complaints decreases, the system is effective. At the seasonal staff’s level, CoolyLand could apply the performance appraisal mentioned above to make its judgment. Several factors such as sales performance, safety hours, customers' feedback, cross evaluation among staff and etc. can be assigned of different weight. Staff then can get their individual scores on a weekly or monthly basis. After doing the performance checks at these two levels, CoolyLand could have a clear understanding on whether it is operated in the right direction and whether every individual staff works effectively for the benefit of the park.
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INTRODUCTION
CoolyLand is an entertainment park located in Pembrokeshire, Wales. Due to its famous beaches and coastal national park, tourists around the world are rushing to enjoy their holidays here and this fever reaches the peak during summer. Therefore, in order to run the park more efficiently to accommodate for the season changes, CoolyLand hires more seasonal staff during summer time to fill the positions such as cafe assistants, park cleaners and rider operators,etc. Given the background of CoolyLand, employees were treated in a hard approach since it was a family-owned and profit oriented business before the acquisition by HolidayInc. Due to its unbalanced welfare and fierce competition, the turnover rate of seasonal staff is so high that many of them leave before the end of summer and even fewer of them would come back to work again in the next year. The decreasing in profit and increasing complaints from customers have drawn the attention of CoolyLand management leaders. Therefore, this report aims to solve the issues mentioned above and helps CoolyLand to recruit and retain the best employees which would in return help the park make profit again. Therefore, the management team has to change the ways they treated the staff so that the employees would get different commitment from their boss including training, new salary systems, bonus and etc.
After the acquisition, CoolyLand becomes a subsidiary of HolidayInc. and it still faces the common issues of this industry, such as high, year-round, fixed overheads with remarkably high maintenance cost and land rent. Within CoolyLand itself, employees are generally divided into permanent and seasonal sections. Permanent staffs are mainly responsible for the daily management and company strategic works, and they have clear promotion route and career development. On the contrary, seasonal staffs are very vulnerable and subjected to the fluctuation of this industry and usually have lesser chance of promotion. In addition, it is expected that theme park industry will generate around $32billion revenue in 2017，and entertainment parks are tends to become more specialized to attract customers (Amusement & Theme Parks World Report, 2015). CoolyLand, as one of the leading Theme Park in Wales, therefore, faces a huge potential market but needs to offer different services and strategies from its competitors in order to make constant profit and survive in the long run.
RECOMMONDATIONS
Recruitment and Selection
Recruitment is to gather a pool of candidates who are qualified for the company’s requirements， and selection process is to pick the most suitable candidates out of the pool for the positions. According to Silistre (2007), in Microsoft, hiring the most suitable staff is more important than hiring the best people. In this case, due to the nature of the business, CoolyLand needs to hire lots of seasonal staff to operate rides, entertain and assist customers, fill in the restaurant or cafe and souvenir shops. Hence, before CoolyLand goes into the recruitment and selection process, it is highly important to figure out what special traits are required for those specific jobs. For example, the hiring department should realize that the seasonal staffs are basically responsible for providing services to tourists; thus being warm-hearted should be the most important quality when selecting employees for this job.
George Bradt and Mary Vonnegut (2009) states that sourcing of candidates requires human resource management specialists use a variety of methods to find suitable candidates for job vacancies. In the case of Microsoft, it applied at least three methods such as campus recruitment at top universities, lateral recruitment and headhunting (Torrington, Hall, Taylor and Atkinson, 2011). However, the current situation for CoolyLand is that the seasonal staffs in Entertainment Park are not required to be highly educated or have any special skills. Those three methods mentioned adopted by Microsoft consumed too much resources and may not be effective when applied directly to CoolyLand. Given the location and specific conditions of CoolyLand, there are several existing ways of recruitment that are proven to be effective. First of all, CoolyLand could spread the job recruitment advertisements through the means of internet. Detailed and accurate description of positions vacancy, application process and relevant requirements for employees can be viewed on CoolyLand's official website and Google Events. It is less costly than other ways of advertising and able to attract interested candidates around the country. Secondly, the population in Pembrokeshire reached 122,400 in 2011 (UK Census, 2011), which could provide a great number of suitable employees for CoolyLand. Thus holding a job fair in Pembrokeshire can be an effective and economical recruitment method. Some local students who have summer vacation or retired senior residents may show some interests in such seasonal working positions. Finally, local newspaper is another efficient channel in gathering potential candidates for those positions. Facing the fierce competition from its competitor, CoolyLand has to make its recruitment advertisements unique and attractive. The content of those recruitment announcements should not only be interesting but also cover the special treatments such as benefits, welfare and salary details that the staff can get when working at CoolyLand.
According to Mike Smith (1989), applying correct selection process is quite vital for the company. Otherwise, employers may need to spend much more time to manage those staff not suitable for their positions, which may directly impact the overall performance of the company as well. Therefore, the selection process of Microsoft is diversified and complex, aiming to find the most suitable employees. For instance, curriculum vitae (CV) evaluation, several rounds of interviews and written tests are applied based on different requirements to select brilliant and creative people for this technology company (Silistre, 2007). Unlike Microsoft company, the seasonal positions at CoolyLand are not technical skill-demanding and do not need too much complex ways in selection process. There are two kinds of jobs in general at CoolyLand. The first one is face-to-machine, which requires the candidates to know how to operate entertainment facilities and machines. The other one is face-to-people, which needs the candidates to be good at communication and dealing with people. Generally, there are three steps in selection process. Initial screening takes the first step, which involves reviewing the information provided by candidates and making judgment to decide which application is worthy of further consideration. Human resources (HR) of CoolyLand should evaluate which quality or advantage of the candidate possessed is useful to operate the park at first. Then they could assign different weight on specific part of the resume to get a final score on this candidate. For example, the past experience of working as a rider-operator can be a plus for the candidates of face-to-machine positions; while participating in social activities could demonstrate that the candidates are familiar with dealing with people, thus training them to be good service assistants in potential will be a good choice in selection progress. After the first round of selection, selected candidates could enter the next step, interview for the specific position. Detailed questions in regards of the structure of machine, the safety notes of operating riders and etc. can be used to interview the selected candidates. This specific interview could inspect the operation knowledge of the candidates directly. Hence it can save time and money to hire the employees who are familiar with their job content. However, in the interview to select candidates for service assistants, HRs should use some subjective questions and case studies to make judgments on candidates' communication skills as well as their reactions to emergency situations. Last but not least, in the final round of selection process, applicants can be invited to CoolyLand and work as an intern for 2 days at their applied positions to see how they may behave in daily working environment.
Training and Development
Training is the systematic acquisition of skills, rules, concepts, or attitudes that result in improved performance (Goldstein & Ford, 2001). The staff training sessions is very importantfor CoolyLand employees in order to serve customers better and run the entertainment park in a more effective way. Park orientation should be given before staff going for duties officially. This orientation should cover the introduction of Pembrokeshire, CoolyLand Entertainment Park, the time shift schedule of daily work and all the facilities in this park. In addition, working procedures, expectations and basic requirements should also be emphasized during the orientation. However, before conducting such orientation, CoolyLand should do a detailed research on the customers’ behavior in terms of their nationalities, preferences on souvenirs, and complaints. In fact, there are no motorways and airport in Pembrokeshire, and railway is the only transportation choice for tourists that are living far away from the area. It's reasonable to assume that local residents and native people consists most of the tourists in CoolyLand (Braun, 2000). If the research shows the opposite, service staff who can speak more languages should have an added advantage. Besides, first-aid and CPR skills should be taught to staff to learn， becausesafety of tourists is always the first priority for any entertainment parks.
In addition, CoolyLand could construct a special training structure as well. For instance, it may give the best performance staff the chance to teach and train others how to work better. Those employees who are assigned the job of teaching can also receive a small amount of bonus incentives, making them gain both spiritual and material honor at the same time.
According to Torrington, Taylor, Hall, and Atkinson (2011), there are two methods of learning and development: on-the-job method and off-the-job method. On-the-job method means employees gain experience through observing their seniors performing the job, then trying to understand the work and imitate their behavior. On the other hand, off-the job method is conducted away from the immediate workplace, usually providing with study materials, which provides general skills and knowledge for the job. Therefore, in order to apply the best learning and training method, CoolyLand should update the customers' feedback and trace the overall industry dynamics regularly, so that it can have a better understanding on the advantages and drawbacks of its daily operations and find out what their competitors are doing to run this business. Next, based on this understanding, it can provide updated training courses for the staff to serve customers better on a weekly or monthly basis. Meanwhile, CoolyLand should also encourage staff to summarize their daily work regularly and improve the performance accordingly. Besides, it can provide some training sessions in regard of other skills for those seasonal staff online or offline which can benefit them for the future career path.
However, the hiring and training process for a new employee is costly, and of course Coolyland expects lower turnover rate to save expenditure. Unfortunately, the turnover of seasonal staff is always high because usually this temporary position lacks of promotion mechanism(Saporta & Farjoun, 2003). Therefore, this kind of staff may choose to leave CoolyLand if they can only play the role of assistants or get a better pay in other entertainment parks. Thus, CoolyLand should provide a specific training method for those seasonal staff and give them chance to get promotion. The core object is to take full advantages of staff who show working talents and can bring benefit to CoolyLand through suitable training. Besides, adding the career objects of staff and operation objects of company into the training program should be the ultimate goal of CoolyLand.
Retention and Rewards
Managing the finances of a business can be time-consuming and challenging at times. Torrington et al. (2001)once stated that payroll management is one of the most important issues that HR should consider. On the one hand, it is a major factor which will influence the profitability of an organization and determine whether this organization could survive in an industry. On the other hand, salary plays an important role in deciding what kind of living standard the employees are able to enjoy. If the pay or reward is not reasonable, employees may not have enough incentive to perform well for their duties and this will lead to a less productive team In addition, daily attendance rate could decrease accordingly and leading to a worsening working environment. In this situation, everybody loses.
Therefore, CoolyLand could make its pay and reward policies based on efficient performance appraisal system. Fletcher (2001) defines performance appraisal as “a variety of activities through which organizations seek to assess employees and develop their competence, enhance performance and distribute rewards”. CoolyLand could gather feedbacks from customers and sales records to evaluate the overall performance of a seasonal staff. Although CoolyLand is not a listed company which cannot apply stock option incentive plan or employee stock ownership plan, it could still set a profit threshold above which the staff can get bonus for the extra profits.
Apart from fixed salaries, flexible bonus, venture fund or stock incentive option, for the staff could be another choice to encourage employee to work harder. For instance, Securities recently announced that if its employees who worked for the company over 5 years and ranked over a senior vice president can apply for a venture fund over 5,000,000 China Yuan (CNY) (Roughly 500,000 pounds) when they leave CITIC Securities. However, most staff working in CITIC Securities are usually elite in China (He, 2014), while seasonal staff in a theme park such asCoolyLand are normally with low education level(Braun, 2000). But similarly, setting a fund for brilliant workers is still applicable and useful, which can not only build employee loyalty for the company, but also encourage staff to try their best to work and make innovation in their position.
Employee benefits are commonly known as ‘fringe benefits’, this plays a role of supplement in the typical pay package (Torrington, Hall, Taylor, and Atkinson 2011). Apart from what mentioned above, employee benefits or rewards can also be presented in non-monetary forms. It can include sick pay, private health insurance, staff discounts, live-in accommodation, holiday and etc. For example, Microsoft offered various benefits to its employees, such as full healthcare coverage and insurance, discounts on electronic related products and services, and financial education program which can help employees to make financial investment and earn money (Romano, 2006). Similarly, CoolyLand could provide all the non-monetary benefits mentioned above. Besides, in accordance of the specific situation of Entertainment Park, it may also provide the park's entrance tickets, vouchers, free lunch, shuttle bus for staff to commute and relax themselves.
Moreover, there is still another issue that should be addressed regarding seasonal staff.For part-time workers, they may have other jobs available once quitted. However, for full-time workers that employed during summer peak time with no other available jobs, finding a new job during the rest of the year may lead them to leave this place. Since CoolyLand has been acquired by a large leisure company, HolidayInc., it may help those people find other suitable jobs within this group. This will lead to a higher retention rate for them.
According to the study done by Torrington, Hall, Taylor and Atkinson (2011), if CoolyLand can apply above mentioned pay and reward strategy, following five objectives could be achieved. Firstly, it could be helpful for attracting new staff since CoolyLand offered a sufficient reward package to ensure the satisfaction staff needs. Thus in the future, applicants will receive positive judgments from current employees which can provide the organization more opportunities to fill its vacancies. Secondly, it could help retain skilled staff. An attractive reward system and promotion mechanism will lead current employees to walk along the career path designed by CoolyLand and achieve the win-win outcome. Thirdly, it could motivate staff efficiently. Besides providing bonus or allowances, CoolyLand also offered many non-monetary rewards which could inspire employees to work hard to achieve employers’ objectives and work beyond contract to achieve their own career objectives. Fourthly, CoolyLand's reward strategy is also a sort of power to encourage innovations. This is because after applying performance appraisal, employees have to change their working ways or adjust their working attitudes to get a good performance appraisal review which will decide their rewards in company accordingly. Last but not least, reward strategy could help company building a good corporate reputation. The benefits and rewards CoolyLand provided are very diversified and humanized, which could increase employees’ satisfaction. Higher employee satisfaction could help company building a good employee brand which is exactly helpful for recruitment and selection. Therefore, a virtuous circle can be formed in company. At the same time, good corporate reputation is also beneficial for attracting and retaining a strong customer base.
Conclusions
The overall structure designed above covers activities from recruitment and selection to reward and retention management. It focuses not only on recruiting the most suitable people but also on their long-term retention, which is quite vital for the company to achieve its long-run objectives. Moreover, by facing the more and more fierce competition in labor market, this structure could give candidates a very good impression and help them achieve their own career development in the company. Besides, those methods provided above are affordable and will not bring much pressure on its budget. Subsequently, building a promotion mechanism can help staff get opportunities to further utilize their talents and at the same time grow with CoolyLand. Lastly, the structure also emphasizes on retaining employees by providing fixed salaries and various benefits in order to increasing employee’s satisfaction and loyalty.
Evaluation
CoolyLand can set short-term and long-term goals at beginning and evaluate the performance of the company and staff accordingly. At the company's level, CoolyLand could check the number of tourists and customers' complaints, the financial performance and its competitors' performance. This gives CoolyLand a relative macro way to check whether this system works or not. If number of tourists and total amount that customers consume in this park increase, or number of complaints decreases, the system is effective. At the seasonal staff’s level, CoolyLand could apply the performance appraisal mentioned above to make its judgment. Several factors such as sales performance, safety hours, customers' feedback, cross evaluation among staff and etc. can be assigned of different weight. Staff then can get their individual scores on a weekly or monthly basis. After doing the performance checks at these two levels, CoolyLand could have a clear understanding on whether it is operated in the right direction and whether every individual staff works effectively for the benefit of the park.
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