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NAME: MUHAMMAD AWAIS

COMPANY NAME: GENERAL ELECTRIC

REGISTRATION # FA17-BBA-080 (BBA-3A)

COMSATS

PROFESSOR: UMER HASSAN

DATE: SEPTEMBER 9, 2018

GENERAL ELECTRIC (GE) is an American large multinational company whose

headquarter is located in Boston, Massachusetts, America.

The reason for the selection of this company for my research study are several. Firstly it is an

American multinational company which is rendering its services all over the world since

1892 hence it has vast and rich history of its struggle and success and secondly it is ranked

among top 100 companies of the world. Moreover, Studying about such a large and renowned

business conglomerate of the world will augment my knowledge about innovative marketing

strategies and international business tactics. Furthermore, it will enhance my understanding

about the working of an international enterprise.

GE is a public company which has workforce of nearly 313000 since 2017.It is multinational

conglomerate and it is one of the best corporate in the world with total assets of 377.95 USD

and it is listed among top hundred companies of the world. It is Founded in 1892,

approximately completed its 126 years of success. Its head office is located in Boston,

Massachusetts, United states. It has introduced one of the finest Products like aircrafts engine,

power, economics, natter, illumination, lubricate, arsenal, wind turbines etc.

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REWARDS AND PERFORMANCE PRACTICES:

Every company gives rewards to their employees on the behalf of their performance and their

effort in their work. It is actually a way to evaluate the performance of the workers in the

company which in return not only enhance the earnings and capacity of the company but also

benefits its workers socially and financially. Due to this employee wants to complete its job

more efficiently because he wants more incentives more perks and privileges. Every person

has different expertise and skills regarding their professional fields. So it is better to assign

them task according to their knowledge and skills. It actually enhances the efficiency and

productivity of the company if everyone is working under its own discipline, on the contrary

it is harmful and non productive if assigned work is compatible to workers skills and

expertise. Let’s take an example if a person have IT experience and a company gives him a

managerial job so he cannot perform as manager because he have an IT knowledge. By

rewards providing system it makes an employee motivated, diligent, obedient and

encouraging. And he feels pride to represents its company.

MONETRY REWARDS AND NON-MONETARY REWARDS

A monetary reward is a type of money based rewards that are given to an employee on the

basis of their efficient work. Example of monetary rewards contains money bonus, earnings

sharing and some other kinds of rewards that build workers motivations power. And non-

monetary rewards are to assure about any kind of chance in better work place in a company.

Some of the most important and necessary rewards that GENERAL ELECTRIC gives to their

employees are as follows:

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PRODUCTIVITY:

GE provides a newly equipments to their workers for the improvement of their technology

and to increase the production and to learn different techniques to achieves the organizational

goals and earns profit in a more affective way.

CAREER FOCUSED PEOPLE:

GE focuses on the career of their employees to make their life perfect and aim full because

some companies have their long hours, hectic timing of job and the employees are not feels

comfortable so due to this purpose GE could not put such type of burden that other

companies can.

COMPETITIVE SALARIES:

GE gives to their employee’s competitive salaries and wages to their employees to feel them

affective and responsible. GE also gives healthcare, insurance and pension etc.

GIFT BASKETS:

GE welcomes their new comer’s employees by providing good gift baskets that make

employees happy and motivating.

BONUS ON WORK:

GE gives different task to their employees and on the completion of their goals and

objectives they give an extra bonus. And on the end of year they also gives incentives by

looking their performance in the whole year.

PART TIME PAYS:

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Company gives their employee’s an extra income on their part time work as consider over

time. It will help a person to fulfil their needs and wants socially and financially.

FRIENDLY ENVIROMENT:

GE provides friendly environment to their employees. A good environment builds an

effective impression on the employee. There will be a tea break for the workers for their

entertainment.

HEALTH INSURANCE:

Company gives their employees a health insurance by providing health cards through

which worker able to get their medical benefit from everywhere where they want.

SCHOLARSHIPS:

GE also gives scholarships to the customer children to get a good education from well

defined universities.

LIFE INSURANCE:

GE offers to their employees a life insurance programme that if any bad

circumstances that on the death of workers the company gives a large number of

money to the family of the employee to fulfil their future needs and wants.

TRAVEL OPPORTUNITIES:

GE was an incredible opportunity in the world of haute couture. GE also offered growth and

travel opportunities with the company.

CONCLUSION

General Electric provides its employees a broad range of monetary as well as non-monetary

rewards not only help to relax the employees but also help to motivate them. Through this
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type of relaxation and motivation employees gave full time to their work and gave best of

them to their work and contribute to their job. And employees want to do best in their field to

improve productivity and efficiency. GE is also well managing its workplace so that their

employees are having exciting time. Providing a relax environment to the workers is great

idea because workers feel comfortable and burden free and to solve their problems accurately

by sharing different techniques to other employees. By providing this type of environment to

their employees and being treated like a family provides them an opportunity to share their

ideas and become valuable assets for organization.

The purpose of research study I will use the following resources.

www.ge.com

www.annualreports.com

www.referenceforbussiness.com

www.britannica.com