Evaluating A Remuneration Policy And Selecting Qualified Employees

1. Identify two (2) types of staffing models that could apply to your chosen scenario and determine which model would be best suited for efficiency, productivity, and possible future growth. Examine the significant effect of each identified staffing model on processes that may be occurring within the organization (e.g., outsourcing, contingent workers, consulting firms, etc.)

Identify two (2) types of staffing models that could apply to your chosen scenario and determine which model would be best suited for efficiency, productivity, and possible future growth. Examine the significant effect of each identified staffing model on processes that may be occurring within the organization (e.g.,

As a company, their goal is to search for and find the most qualified applicants who are high-performing, highly motivated, and bring with them diverse experiences and talents.

According to all the facts we have on the Fit Stop, we chose that the best suitable organizational performance pay plan for employees would be employee stock plans which are a plan through which employees acquire shares in the Fit Stop. We have chosen the three main employee stock plans i.e. employee stock bonus plan, employee share purchase plan and employee stock option plan. (Long, 2013)

Simon Sinek perfectly defines what Employer of Choice is all about. Hiring the right candidate who believes in our cause and mission that will inspire them to work for our organization. It’s really important to be able to communicate with people and convince them, why us? What makes us better than other? How we do it? These all questions need to be asked and answered carefully. Like Simon said in his video, “The goal is to do business with the people who believe, what we believe.” It’s really simple, but yet, powerful statement.

When most people thing of compensation and diversity in the same category, they assume the discussion will be under the umbrella of discriminatory practices against women and minorities. However, compensation and benefits are tools at the disposal of human resources professionals for recruiting and retaining a diverse employee pool even in the absence of a formal diversity management programs. Like a properly executed training and development program, benefits packages can also be levied to attract and retain workers, as well as motivate them. Employees have multiple needs that vary based on age, family, cultural values, and stage of career, and human resources departments are tasked with finding solutions to accommodate this wide range of concerns, without anyone feeling as though they are being treated unfairly. While benefits like on-site daycare would work wonders to attract and retain parents of small children, offering such a pricey perk to that is only useful to a certain segment of the employee pool can be off-putting to other workers. Finding the balance between the needs of the company, needs of the employees, and the perception of fairness is critical.

An organization’s sole purpose when attempting to fill a vacant position is to attract the candidate that best fits the organization. Consequently, from the employer’s perspective giving a description of the institution/organization is the first attempt to weed out applicants who do not meet the taste of the organization. On the contrary, from the applicants perspective it gives them a feel of what is the organization is like. Thus, they too can determine whether they have anything to offer the organization and ultimately satisfy their own taste in an ideal organization.

The topic I chose to research and discuss is the topic of recruiting and retaining the best employees. I chose this subject because I felt it was important for an employer trying to compete in this very competitive business environment, no matter what the business is, to be able not only hire the best and most qualified employees but retain them and keep them motivated. The ability to distinguish the difference between high performing employees and lower performing employees can be detrimental to a company’s success or failure. In retrospect, this goes back to recruiting and retaining the best employees while avoiding and being able to let go of those of a weaker caliber. Before an organization can thrive in recruitment and retention,

This assignment will be investigating what constitutes “best practice” in recruitment and selection, and explain what strategies should be used to ensure the best qualified and most effective employees are selected. In particular this essay will focus on;

One of the most crucial elements of a successful or productive organization is an effective employee selection process. The significance of this process emanates from the fact that how workers carry out their jobs plays a crucial role in determining the level and extent of success of an organization. Due to the significance of an employee selection process, organizations draw candidates for open positions from the labor market. Actually, top-performing or successful organizations draw candidates from approximately 60 percent of the labor market. This trend includes sourcing for passive candidates who would prefer to remain contented with their present job. Moreover, organizations will relatively low or poor performance draws candidates from nearly 40 percent of the labor market and active workforce. An example of a top-performing organization that draws candidates from the labor market is Wal-Mart. The labor market plays a crucial role in employee selection with regards to having a population with the necessary qualifications for working in various organizations.

Selecting the right employee to fill a position is one of the most challenging decision making processes a company has to make. The ultimate goal of employee selection is to hire the candidate who is most compatible not only with the organization but for the position that they are trying to fill. In order for the candidate to be successful in a particular position, their talents and personal goals must be taken into consideration and objectives need to be utilized in order to retain qualified individuals. The most common forms of selection methods are resumes and applications but testing, interviews, reference checks, honesty tests, medical exam and drug

In today’s competitive workforce, compensation and benefit packages plays a crucial role on recruitment and retention for both the organization and the employee. Bumpbie finds itself in a situation where it could positively affect its employee’s morale, turnover rate and longevity; by making a strategic decision to implement compensation and benefit packages that will encourage current workers to stay and entice new applicants. Money is not always the inherent reason businesses experience high turnover rate, the constant shifting in the job market will always be a contributing factor as well as employee’s moral. Mayhew, R. (2016), explains that an “employee compensation plan” refers to all the components offered as well as the way in which they are paid, and the reason behind the employees getting the compensation case bonuses, salary increases and incentives. The fact that there are voluntary and mandatory benefits that organization provides to their employees give employees the freedom of choice, as well as the option to make the whether to stay with or leave an organization based on the benefits it provides. Variable Pay is also an option that some employers offer their employee which is performance based or results oriented. Whether it is profit sharing, merit based programs or incentive bonuses; it all comes down to which organization can provide employees with the compensation or benefits packages that best satisfy their needs.

Pay for performance is to link employees’ salary or salary increase to his or her performance. It seems to be a reasonable or attractive idea but it often does not work well in organizations. Please use at least 4 motivation theories or models to explain why pay for performance may not work as expected—particularly in government and nonprofit organizations.

The organization for which I am designing the compensation package is a company that offers internet solution to customers in the domestic US market and the global market. The position that I am hiring is that of a company secretary. The secretary will be required to work in the office of the human resource manager and will handle all the papered and paperless documentation. The position comes with numerous benefits and packages as outlined herein.

Hence it can be said that fair wages are determined on industry cum region basis. When fair wages are paid employees enjoy higher standard of living. It is accepted fact that wages must be fair and reasonable. Wages is fair when the employee is able to meet its essential needs and enjoy reasonable standard of living. ”Equal pay for equal work” serves as base of fair wage [4].