Unit 7 - Pay for Performance Systems

What are the points that you have to consider when you are designing a Benefits Plan? Who should be involved in developing Pay-For-Performance Plans and why?

An employee incentive program can help organizations improve their productivity, reduce their production costs and reduce employee retention. It can also build employee engagement and encourage teamwork. In addition, it can boost the morale of their workers. Describe and discuss TWO (2) types of pay (incentive) for individual performance and TWO (2) types of pay (incentive) for group performance.

Compare and contrast the advantages and disadvantages of pay-for-performance and competency-based pay. What strategy would you recommend for your organization, and why?

Discuss a total rewards plan for a chosen organization and how the total rewards plan impacts quality employee selection and retention. Consider the type of discretionary benefits the organization offers. Do you think the benefit plan your organization offers is well designed and meets the needs of the employees?

“Job evaluation determines the worth of a job and not of a job-holder.” Critically examine this statement with relevant examples. How can a job evaluation programme be made more effective to retain and motivate employees and also enhance productivity?

Your company has recently implemented a pay-for-performance model for compensation. This worries you because you know that your employees will be even more upset with their performance ratings if they know that they are tied to compensation. What actions can you take to start to prepare for this change? How do you think your boss at the company where you work now, or where you have worked would handle the situation? If there are differences, why

Consider the job of a server at Boston Pizza. Design a new employee onboarding program for this job. Explain how your program contributes to effective socialization, performance, and employee retention. Your proposed program must include 5 specific recommendations.

Which do you consider the most important base pay, premium pay, and types of variable pay as parts of a compensation program? how does the Total Rewards Strategy align with our business goals?

Do you support the use of job analyses? Provide a rationale for your answer and defend your position. Consistency Versus Competitiveness Which is more important, internal consistency or market competitiveness? Explain your answer. Is it possible to design a compensation plan that achieves both? Explain your answer.

Give at least 5 examples ( your own example) of a non cash compensation items that can be used by the management to reward managers and employees for their efforts and good performances.

In terms of compensation, how do employees view fairness? Cite 3 ways and give concrete, specific examples for each.

Many businesses are moving away from the base salary concept and trying to adopt the new systems such as Rewarding Employees based on performance. As such most of the time the employee performance is linked with Profitablity or sales achieved. In your opinion what are the advantages and disadvantages of rewarding employees based on performance. You can provide examples to clearly explain your thoughts.

As their HR specialist you have been tasked with determining what type of benefit program your company should offer their employees. You have chosen the Flex Benefit Plan (Cafeteria Plan). Your boss is not very excited about this plan (expensive!!). Please explain your rationale, and provide 4 reasons it is beneficial to the company.

What do profit-sharing plans, stock options, and gain-sharing plans all have in common?  They are systems that reward for results rather than behaviors.  They are systems that reward for behaviors rather than results. They are nonmonetary and noneconomic in nature. They are not effective in motivating performance.

Identify the most common forms of individual incentive pay plans. Describe as precisely as you can the kind of performance enhancement system that would be most likely to motivate you. Among the various alternative work scheduling options, which would you prefer to follow?

Critically evaluate the advantages and disadvantages of the various techniques of performance appraisal. Discuss the role of feedback in employee performance. What is the difference between intrinsic and extrinsic rewards?

Your company has recently implemented a pay-for-performance model for compensation. This worries you because you know that your employees will be even more upset with their performance ratings if they know that they are tied to compensation. What actions can you take to start to prepare for this change?

Give a brief summary of each topic and subtopic below: 1. Organizational Reward Systems Base Pay Approach Pay for Performance New Pay Techniques

Please go through the different instructional methods and sort them into those that you think would be most useful in training someone on the technical aspects of the job and those that would be most useful in the more social aspects of the job. Provide the rationale for your decisions.

What types of occupations may be more suitable for person-focused pay? Or, explain a job that may not be suitable for

Soft incentives (such as free or low-cost daycare, gyms, massages, and restaurants) are increasingly being used by certain companies to attract and retain top employees. In addition to free lunch and supper, Google workers get a range of additional advantages. What are the benefits and drawbacks for both companies and workers of various forms of employee incentives? Would you be more interested in working for that firm if you knew about these intangible advantages? What is the reason behind this? Gamification is another option (the use of points, rewards, and other game-like incentives).

LIFE SATISFACTION Of course, job satisfaction is important for other reasons as well—reasons that have little to do with job performance or organizational commitment. For example, job satisfaction is strongly related to life satisfaction, or the degree to which employees feel a sense of happiness with their lives. Research shows that job satisfaction is one of the strongest predictors of life satisfaction. Put simply, people feel better about their lives when they feel better about their jobs. This link makes sense when you realize how much of our identity is wrapped up in our jobs. What’s the first question that people ask one another after being introduced? That’s right—“What do you do?” If you feel bad about your answer to that question, it’s hard to feel good about your life. The connection between job satisfaction and life satisfaction also makes sense given how much of our lives are spent at work. Presents the results of one study that examines time spent on daily activities,…

Three benefits that I could give to my employees when they are at work and three benefits for when they are away from work.  Thank you.

What is a total rewards package? What are some of the benefits included? What are some advantages of offering a generous package to employees?

Give at least three (3) examples of internal and external factors to consider when developing a rewarding compensation plan and identify the advantage and disadvantage of each factor

Compensation is one of the most important costs in organizations. Employees exchange their contributions for a set of outcomes, of which compensation is one of the most significant one. On one hand money is considered to be one of the key mechanisms that can be used to attract, retain and motivate competent employees to perform in ways that support organizational objectives. More often than not, a person’s earnings also serve as an indicator of power and prestige and are tied to feelings of self-worth. In other words, compensation affects a person economically, sociologically, and physiologically. On the other hand a telling fact is that money never satisfies and even large sums of it may fail to confer wellbeing. The failure is less due to a glitch in the program than due to the inadequacy of psychological assumptions that ground all such plans. As people move up the economic ladder, most almost immediately stop feeling grateful for their elevated circumstances and focus on what they…

Please original work Emma wants to have a discussion on what kinds of behaviors various types of rewards will elicit in CM Tech employees.   Talk about or share three types of rewards (base pay, overtime pay, profit bonus, sales bonus, project bonuses, piece pay, vacation, the sky is really the limit.)  what kind of behavior you think each type of reward would elicit from CM Tech employees.   Do you think those three would be effective?  Why or why not?  Please add references with weblinks

Keeping employees motivated and happy is a key to success for many of the world’s top companies, including fast food chains like Taco Bell. From GED prep to educational support to college scholarships, Taco Bell helps its employees achieve their goals in all sorts of ways. While this level of support might seem strange for a fast food chain, the company recognizes that today’s workers tend to demand more from their employers. Besides collecting a paycheck, young employees also want to develop a healthy balance between their work lives and personal lives. That’s why Taco Bell provides both full- and part-time staffers with access to educational resources from their first day forward. For instance, the company fully funds an all-inclusive, start-to-finish GED program specially designed for its employees. Along with receiving unlimited access to study materials and practice tests, the program also provides students with advisers who guide them through every step of the process. For those…