Describe competency-based pay. 14. Explain how team-based compensation should be determined.
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13. Describe competency-based pay.
14. Explain how team-based compensation should be determined.
The competency-based pay plan is a plan which encourages employees of an organization to reach the pay rate by taking charge of improving their knowledge and skill.
- Competency-based pay refers to a pay structure that compensates according to the knowledge, skill of an employee rather than his position or job title in the organization. It focuses to increase the potential of the employees. It creates self-motivation, increased transparency, reduced turnover, etc.
- Team-based compensation refers to the compensation provided by an organization as a reward to a group of members or a department for the successful completion of a task or project. The compensation recognizes the team as a whole and divides the reward equally among the team members.
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- 42- The structure of a sales compensation plan differs by business, and it is typically based on team organization, resources, and the goals. For example, one company might offer a higher basic salary, while another might prioritize commission. In this context, what conclusions can you draw on the best compensation plan that could work well for salesmen and management of the company? a. Fringe benefit b. Straight salary plan c. Commission based only d. Combined salary and incentive plan“An organization is formed to accomplish a specific mission. To do this, it must attract and hire people whohave certain knowledge, skills, aptitudes, and attitudes. To attract and retain such people, the organizationprovides rewards” (Henderson, 2006). QUESTION(A) Discuss any two (2) compensation components (B) Discuss any two (2) benefits components that must be considered to ensure that the right candidate is retained in the right job positionWhy does firm wide compensation pool is the best method to be used if the purpose of the company in granting said bonus is to retain good managers and motivate teamwork and sharing of assets among the firm.
- 19. When two managers in a company are in conflict and they realize that is because the different meanings they give to certain words. This type of conflict resolution strategy is called: A) increasing awareness of the sources of conflict. B) job rotation. C) benchmarking. D) increasing diversity awareness.PSSM: CaseProfessional and Scientific Staff Management (PSSM) is a unique type of temporary staffingagency. Many organizations today hire highly skilled technical employees on a short-term,temporary basis to assist with special projects or to provide a needed technical skill. PSSMnegotiates contracts with its client companies in which it agrees to provide temporary staff inspecific job categories for a specified cost. For example, PSSM has a contract with an oil and gasexploration company in which it agrees to supply geologists with at least a master's degree for$5,000 per week. PSSM has contracts with a wide range of companies and can place almost anytype of professional or scientific staff members, from computer programmers to geologists toastrophysicists.When a PSSM client company determines that it will need a temporary professional or scientificemployee, it issues a staffing request against the contract it had previously negotiated with PSSM.When PSSM's contract manager receives…7 - Which of the statements about Team-Based Performance Evaluation is incorrect? a) Individuals contribute to team meetings. B) Today, businesses have begun to attach more importance to teamwork within the organization in order to provide competitive advantage. NS) Problems that arise in teams are solved together. D) In team-based performance evaluation, teams that focus on process improvement are not rewarded. TO) The amount of process improvement achieved by the team; measured by output, outcome, process measurement and customer satisfaction.
- The HR director at Clearwater Electronics is responsible for all negotiations with the company’s union. Like other companies in the industry, most of the employee base at Clearwater is unionized. A meeting has been scheduled to negotiate a proposed wage increase for nonexempt employees at Clearwater, and the HR director anticipates the negotiation will be difficult. Why do wage disputes cause conflict? Conflict arises because people do not understand what the other side is going through. Conflict arises because the employer does not understand what it means to be in the trenches where true value is added to the company. Conflict arises because increased wages cost the company, and wage decreases cost the employee. Conflict arises because the employees do not understand the employer’s need to reduce costs to maintain a profitable company.You are the Human Resources manager for Gregarious Garage (GG), a company that makes garage doors. The president of GG, Billy Boss (BB) emails you to tell you about an incident that happened over the weekend. Holly Hopeful (HH) was working Sunday, trying to make some extra money. HH worked every day that week, and was tired, but she decided she would work, anyway. Due to her being tired, her hand slipped while she was cutting a door, and she sliced her hand on a blade. Word gets out about HH's injury. Monday morning, HH's friend and coworker, Jack Jumpy (JJ), refuses to work on the machine. BB is irate at HH for getting hurt and costing GG money. BB is also angry at JJ for not working, because nobody else except HH and JJ can run that machine. BB sacks both the employees and he emails you to tell you they are terminated immediately. You remember talking to HH and JJ when they asked for your help in contacting a local union for employee representation. BB does not say this,…1) engage a HR software designer to automate and manage staff issues. The software should be implemented within 7 months to ensure that Staff remain motivated during the period. Design an Action Plan, to include an advisory mechanism, of the specific four (4) areas that the new HR software should be able to execute. Justifying the reasons.
- 25- The HR Department of Maryam’s company received complaints about delayed distribution of salaries, unsafe work practices and no opportunities for them to be promoted or even recognized for their efforts. Based on Maslow’s Theory, which needs are not being addressed by Maryam’s Company? a. Social, ego needs and safety needs b. Physiological needs, safety and esteem needs c. Hygiene and motivators d. Safety, ego and love needsCase 1: The way of talent management in Alibaba Divide employees into four types Alibaba's talent management divides employees based on performance and values. Its biggest feature is that Alibaba divides all employees into four types: Those with performance but no values and teamwork spirit are "wild dogs"; A "white rabbit" with no performance but good values; • The one who has performance and values and team spirit, and is excellent, is "Hound" : Both performance and values, but either excellent or "great". According to Jack Ma's principle, "wild dogs" should be resolutely eliminated no matter how good their performance, while "white rabbits" with poor performance should be gradually eliminated if they cannot be improved: only "hound dogs" are the most needed by Alibaba. Half performance, half values For Alibaba, values matter as much as performance. Alibaba will this unique value management, fully integrated into the performance appraisal system. According to Zong Ming, Alibaba's…There is a deep-rooted conflict between 2 key project team members. It is apparent that these differences are based on differing technical approaches to a problem encountered on the project. a) Evaluate the suitability of using a smoothing/ accommodating conflict management approach in this situation. b) With appropriate examples, evaluate the usefulness of 1 motivation theory that a project manager could use to motivate their project team.