Human Resource Managemnt

This research paper is based on the development and implementation of completely integrated performance management system. The organizations are enjoying many benefits by implementing the performance management system. It has helped in improving the productivity of employees in most of the organizations. It is to be understood that apart from advantages, the system also carries some disadvantages. It is time consuming and there are chances of biases entering into the system.

Share how you would compensate each of the employees with the budget dollars provided (see Compensation Template in Doc Sharing). You must provide substantiation for your salary decisions. Even with the decisions you make, what might be some consequences? Input your decisions into the template. Include your risk analysis.

Pay-for-performance plans are formal compensation systems that are directly related to organizational or individual performance. The United States Department of Labor defined pay-for-performance as a raise in pay based on a set of criteria put in place by employers, and notes that the Fair Labor Standards Act,

The first implication is determining what to reward. Management must first align overall strategy with projected business outcomes, and decide what type of performance will be measured, analyzed and considered in a pay for performance program. Key factors such as support from the management, establishing a valid and fair measuring system, along with a credible evaluation system and projecting effectiveness of the program in the long term are all needed in order for the plan to function

Although the "pay" in "pay for performance" can refer to any of the more traditional components of reward programs, the organization should look beyond its current forms of compensation and consider whether additional approaches might work best in the long term.

Within this business report, I have analyzed three different employee compensation strategies that I feel could be well executed within our organization. Employee compensation is key to

A Performance-Based Pay system is an increasingly popular compensation method used by organizations to increase productivity. A goal for all companies is to try and remain competitive and control costs, this is a reason for performance-based pay systems becoming more popular. This type of system attempts to link compensation to performance. (Gena Richter, 2002) These systems are directly tied to organization or individual performance and are most effective when based on objective measures of quantity or quality of performance. If we wish to have a direct impact on work motivation, it must be linked directly to the performance of desired behaviors. In order for to put this type of system into place, performance evaluations must be conducted regularly , as well as training and development for those with performance that isn't quite up to par. These additional resources will be necessary for our organization if we implement a performance based pay system. (William B. Bernathy, Ph. D., 2004)

Management could abolish the Scanlon Plan and advocate an individually based incentive plan. Workers would earn bonuses according to their personal performances. This would be a great extrinsic motivator for employees but this would lower the intrinsic value. Additionally, the free rider problem and equity theory could be solved. However this plan does not reward teamwork and this would cause conflict between

Pay for performance systems have further been proven to have two advantages for organizations: attracting more high-quality employees and motivating employees to exert more effort at their jobs. (Gordon, Kaswin) This paper will show the positive benefits of performance pay as

O’Neil (1998) suggests six minimal criteria for the design of a performance based pay system. The first of these criteria is that the reward system should be self-funding, that is, the performance increases should as a minimum offset the cost of the rewards provided. The second criterion is that the distribution of the rewards must be consistent, fair and justifiable. In addition reward plans must be transparent and clearly communicated. The third criterion

I think the overall idea sound great but the performance appraisal system need to enforce at the same standard for all employees. If an employee is consistently performing and producing stellar result, there should be a type of incentive in place to award employees. This type of incentive motivates employees to do their very best to accomplish daily task at a higher level. I think adopting new labor-management procedures at a time when the United States is deeply involved with homeland

Recognizing and rewarding high-performance is a key recommendation for any approach when managing any merit pay program (HRIS 2012). Merit pay is a compensation system where base pay increases and is determined by an individual’s performance. Using a merit pay plan is a good way for an organization to reward high performance is one benefit when using merit pay programs. The first step in implementing or improving a merit pay program is to have a solid performance management program, and this is another way a merit pay program is beneficial. Merit pay is a way to be successful and effectively implement merit pay with a uplift in salaries, and this is a third way using a merit pay program is beneficial to an organization. There are some drawbacks when using merit pay programs, such as paying some employees more than others. If you pay high-performing workers more than low- performing employees, the high- performers may stay, causing the low- performers to complain or leave the organization. A second drawback in using merit pay program is that employees become less motivated if not paid to their satisfaction. For example, if employees feel they should be making more money for their performance, this causes them to have low self esteem, and want to find employment at other organization. The last drawback associated with

Although research generally confirms that pay-for-performance plans can influence greater outcomes, it is unclear how effective different pay plans are relative to each other (Park, 2012). Like most things in business, compensation is something that requires evaluation, study, assessment, strategy, modeling and integration.  Achieving a pay for performance culture does not happen without paying attention to the behaviors, activities, rewards and motivations that have to be linked and reinforced through a well engineered and successfully executed process.  Actually if that process does not tie rewards to shareholder financial objectives, employ the proper mix of compensation elements, result in meaningful dollars, embrace performance that employees can impact and are effectively communicated and reinforced, then the results it produces will likely fall short (Vision Link Advisory Group, 2013).

To work in the Human Resource management field you must maintain and improve the company by planning, implementing, and evaluating employee relations and human resource policies, programs, and practices. It is a challenging and yet rewarding field to work in. However, just like every business field, people who work in the human resource department face many challenges when it comes to discrimination.

Pay for performance is a quite rational theory. According to the U.S. Merit System Protection Board (2006), “Pay for Performance refers to a pay strategy where evaluations of individual and/or organizational performance have significant influence on the amount of pay increases or bonuses given to each employee” (p.1). This theory hope to use different salary to motivate and punish the employees according to the evaluation of their working performance. However, in the real world, it is very hard to implement in every organization, particularly in government and nonprofit organizations.