Philippine E-Journals

Rewards, Recognition and Benefits of Selected Companies in the Food Industry in Central Visayas

Mechelle Balansag | Rachelle Beth Balansag

Discipline: Education

 

Abstract:

Strong recognition and rewards are the core pillars of a healthy, dynamic talent management strategy. The world is becoming a culture in which people expect to be rewarded for drawing breath and taking up space, which makes the job of an HR professional or business leader tasked with employee retention a difficult one. Thus, this study was conducted to evaluate the rewards and recognition schemes of selected food manufacturing companies in Central Visayas in the hope of creating a list of rewards and recognition programs best practices helpful to HR practitioners in the industry itself as well as the HRDM instructors in the academe producing HRDM graduates in terms of discussion points and reference material. Moreover, the findings of the study indicated that the majority of the workers in the selected food manufacturing company were males due to the nature of the job, and it is much preferable to have male workers than women in the production department. The average age for the employees is 30 years old. Most of the respondents had graduated from high school, and the majority of them were married at that age. The majority of the respondents are regular employees in their company with a tenure of one to three years. Performance evaluations were conducted quarterly and semi-annually to improve and maintain the efficiency of the employees and to be able to address the needs of those who didn’t meet the standards. The majority of the employees are motivated to go to their job and achieve good performance to be retained in the company to provide for their families. The level of compliance of the companies to the DOLE rewards and recognition was between expanding and consistent.