Wenhan Wang (Vince)
Word Count: 1001
Admittedly, it is very complex to determine the precise incentives why people go to work every day. However, it is undeniable that reward contributes significantly to these incentives. Torrington, Hall and Taylor (2008) states that rewards can be categorized into three terms, namely direct tangible rewards, indirect tangible rewards and intangible rewards. As far as I am concerned, both direct and indirect tangible rewards are relatively easy to identify and there are not many differences existing. However, the intangible rewards are the most likely to be ignored in practical operations, so in this essay, the differences on this field between the organizations in China and UK will be discussed.
According to the definition of intangible rewards, those aspects that can be seen as a benefit by the employees while cannot be converted into cash or be consumed are intangible rewards. For instance, the opportunities to develop in career, the recognition from colleagues and managers for an outstanding work performance and the working environment can be regarded as examples of intangible rewards. As far as I am concerned, minimum wage and job satisfaction account significantly to the whole impact of intangible rewards, so in the following parts these two aspects will be discussed.
Firstly, there is a huge difference in the legislation of the national minimum wage between China and UK. Actually, China still does not have a national minimum wage law for now and each province or city has different regulations of minimum wage subject to different circumstances of economic development and standard of living. By contrast, the UK has a national minimum wage law which prescribes the minimum wage rate for workers aged 21 and over is £6.08 from 1st October 2011. On the one hand, there are some people who argue that if China should have such a law imposed on them, thus could have a negative effect on...