Non Financial Awards Non-financial rewards gain value in retaining employees San Antonio Business Journal - by Morrison Woods Date: Sunday‚ January 26‚ 1997‚ 11:00pm CST [pic][pic] One of the most annoying events faced by business owners and managers is hiring a good employee only to have him or her poached by another firm shortly thereafter. This is frustrating under the most favorable of circumstances where large numbers of candidates are available to replace the employee on relatively
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Question 1 : Describe what is meant by motivation. What types of non-financial reward might a company use to motivate employees? Motivation can be defined as the reason an individual is performing a task extremely well compared to normal behaviour. Besides that‚ it is also the process that initiates‚ guides and maintains goal-oriented behaviours. A well-motivated workforce can provide several advantages such as better productivity‚ lower level of absenteeism‚ lower level of staff turnover‚ and improve
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Financial Analysis of GlaxoSmithKline Liquidity Ratio 1. Current ratio Year | 2007 | 2008 | 2009 | 2010 | 2011 | Current Ratio: | 4.64 times | 2.96 times | 3.11 times | 2.59 times | 2.05 times | Interpretation: In 2011‚ the company’s current assets were 2.05 times the current liabilities. The current ratio has been decreasing significantly over the years and this clearly indicates that the current ratio is not in a good shape. In 2011‚ although the current assets have increased
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EVALUATION OF THE FINANCIAL PERFORMANCE OF GLAXOSMITHKLINE 2008 AND 2009 BACKGROUND OF THE COMPANY GSK is the world’s largest pharmaceutical company. It has a 7% share of the global pharmaceutical market‚ 26% of all vaccine sales‚ and 17% of all anti-invectives. It was formed with the merger of two top pharmaceutical companies‚ Glaxo Wellcome Plc and SmithKline Beecham Plc in December 2000. “GSK’s history dates back to 1715‚ when Plough Court pharmacy‚ a predecessor to SmithKline Beecham‚ was
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pharmaceutical industry it becomes apparent that there was in fact the need for a merger or other form of change in order to remain competitive. Following the 1997 expiry on the patent of blockbuster drug Zantac‚ the company merged with Wellcome and reaped rewards through marketing existing products. However‚ due to a shortage of new products in the pipeline‚ the firm began to experience dangerously low profit margins. Thus it can be argued that Glaxo Wellcome sought a cost cutting and rationalisation strategy
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4.1 INTRODUCTION GSK Bangladesh Limited has been an active part of the pharmaceutical scenario of Bangladesh for a long time now. In Bangladesh‚ its functions are surrounded by 3 basic categories of pharmaceutical products. These are: a) Locally manufactured pharmaceutical products like Ventolin‚ Berin‚ Kefdrin‚ Amoxil‚ Dermovate‚ Zantac‚ Lamictal etc. b) Imported pharmaceutical products like Alkeran‚ Leukeran‚ Seretide etc. c) Vaccines like Engerix-B‚ Havrix‚ Hiberix‚ Varilrix etc
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Topic: Impact of financial rewards on employee motivation in Kenyan Commercial Banks Thesis: Impact of financial reward system on employee motivation Thesis statement: Impact of financial reward system on employee motivation because employees are pillars of organization success and they must be motivated to contribute to organization success‚ organizations offer various reward systems to motivate employees. Outline I.Introduction 3 A.Background 3 1.Motivation 3 2.Rewards 3 3.Job Satisfaction
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Non-Monetary Rewards in the Workplace As we enter into the 21st Century‚ we see many changes in different facets of our life. One of the many changes is the ever evolving area of the workplace. Employers are encouraged to change the way a business is run to fit the changing needs of the employee. As the employee needs change‚ so does the compensation and reward system used to increase employee retention and productivity. This different type of compensation is seen in many
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Non-Monetary Rewards in the Workplace The purpose of this paper is to discuss methods that can be used to motivate employees‚ and their effectiveness. Motivators‚ such as non-cash incentive programs‚ are commonly used methods to motivate employees. Non-monetary motivators‚ such as praise and recognition‚ a work environment of trust and respect‚ and professional growth and development are the most effective methods to motivate employees. Many companies choose non-cash incentive programs to motivate
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British drug makers Glaxo Wellcome and SmithKline Beecham in December 2000‚ ranks as the world’s second largest pharmaceutical company. GSK group engaged in the creation‚ discovery‚ development‚ manufacture and marketing of pharmaceutical and consumer health-related products. GlaxoSmithKline supply one quarter of the world ’s vaccines and by the end of February 2008 GSK had 24 vaccines in clinical development. It has operations in some 114 countries‚ with products sold in over 140 countries. The company
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