Compensation and Benefits Plan Analysis

Motivation is derived from an internal force that provides an individual the opportunity to achieve their needs or goals. People are motivated by a variety of things and often have different motivating factors. Employers should be mindful of individual motivating factors when attempting to motivate staff to increase performance. While some people may be motivated by money, many are motivated by things like: recognition, promotion, and increased responsibility. Once an employer has identified motivating factors they are able to analyze a variety of motivational theories to design and implement a program that will motivate employees to go above and beyond what is expected of them.

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In any workplace, workers are no doubt the essential mainstay that holds any business or corporation together. Employees achieve important tasks to help the company’s long term vision and goals to be successful and efficient. A business can’t be successful without a proper management that is why it is important for employees to enjoy going to work and they also have maintain a positive attitude while being productive and completing tasks. Motivation is what gives a person the purpose to perform or behave in a certain way with the desire or willingness to gain something. There are two types of motivations, motivation that comes from a person and motivation that comes from materially goals. It is very necessary that employers keep their employees motivated and encourage them to perform above expectations.

In this report we will be discussing Motivation and how it has a large impact on the way employees perform within the workplace. We will be addressing the many benefits of having an adequate amount of motivation within the organization and the employees in it. How motivation within the workplace affects the company productivity will also be mentioned within this report. As an example of a company that has been succeeding taking motivation as a large factor leading to company success, we will be discussing how CIBC has been implementing the motivation strategy within their organization to bring forth success.

reserves the right to resell the materials at some point in the future. Since the research materials are provided to you by human beings, and may be based on numerous sources, it is strongly recommended that you conduct independent research to verify that all information is complete and accurate before referencing the material. This reminder does not contain all of the terms and conditions that govern your purchase

. reserves the right to resell the materials at some point in the future. Since the research materials are provided to you by human beings, and may be based on numerous sources, it is strongly recommended that you conduct independent research to verify that all information is complete and accurate before referencing the material. This reminder does not contain all of the terms and conditions that govern your purchase

Since the research materials are provided to you by human beings, and may be based on numerous sources, it is strongly recommended that you conduct independent research to verify that all information is complete and accurate before referencing the material. This reminder does not contain all of the terms and conditions that govern your purchase

Motivational Theories are important to management today because employers and managers need to know what drives the employees to perform at their best, and why. As Hersey explains, “If we are to understand, predict, and influence behavior, we must know what our employees really want from their jobs. Only then can we appeal to their strongest motivations and increase the probability of meeting both professional and organizational goals”

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This paper will address why employee motivation, recognition and rewards keeps employees working effectively and efficiently. Employee motivation is very important to a company’s production and quality of work, It is important for management and companies to recognize employees’ hard work and have an incentive program to show appreciation.

Motivation is defined as “the desire to achieve a goal or a certain performance level” (Bauer & Erdogen, 2009, p.97). Motivation theories are useful tools that organizations can use to energize employees and foster a stimulating work environment. These theories are categorized as either content or process theories. Today, Bauer and Erdogen (2009) state that many organizations have applied motivation theories ,such as the goal setting theory and reinforcement theory, in order to modify their employees’ behavior in the workplace through goals and reward systems. According to the reinforcement theory, behavior that is rewarded is often repeated. As a result, many organizations have utilized this theory by tying rewards to performance (Bauer &

Making a good compensation plan will motivate the managers. Bad compensation plan could influence the company’s development and damage the shareholders’ value (Gordon&Kaswin, 2010,p2). The XXX Ltd want to design a compensation plan which can attract and retain the executives needed to achieve and its objective of establishing an industry-leading company with high operational performance and maintain shareholders’ value. The issues addressed in this compensation plan is how to protect shareholders’ value via the compensation contract and compensation plan components: Base salary, cash compensation& benefit,. Nevertheless, in order to determine the different portion of the each component, basic salary survey and performance associated with target accomplishment should be guided the payment model selection.

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Additionally, competition can reduce the bottom line, and jeopardize the level of financial performance. Moreover, retaining key employees can sometimes be intense. According to Mitchell, Holtom, & Lee (2001), employees who leave an organization takes with them knowledge and expertise gained through experience. It is therefore important to understand what motivates employees and structure a motivation program based on those needs.

In the recent past there has been increased concern regarding the role of employees’ motivation in organizational performance. The business sector has for the last three to four decades received tremendous changes based on the increased competition. This has widely been influenced by the aspects of globalization. With the increasing interaction among the global communities, business new business opportunities have been opened for existing business. This has in turn led to significant competition