Briefly summarize the main characteristics of the following compensation schemes: piece rates, efficiency wages, merit pay, tournaments, group compensation, and deferred compensation. Draw a table with five columns: (i) “Change from time-base pay to . name of scheme," (ii) “Observability of worker output," (iii) “Expected changes in worker behaviors that are in line with the employer's objectives," (iv) "Expected detrimental changes in worker behavior," and (v) “Expected change in the pool of applicants."

Briefly summarize the main characteristics of the following compensation schemes: piece rates, efficiency wages, merit pay, tournaments, group compensation, and deferred compensation. Draw a table with five columns: (i) “Change from time-base pay to . name of scheme," (ii) “Observability of worker output," (iii) “Expected changes in worker behaviors that are in line with the employer's objectives," (iv) "Expected detrimental changes in worker behavior," and (v) “Expected change in the pool of applicants."

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter11: Human Resource Management

Section: Chapter Questions

Problem 2CTQ: Do you think that a Holacracy can be compared to a consulting company? How are they similar,s and...

See similar textbooks

Similar questions

Do you think that a Holacracy can be compared to a consulting company? How are they similar,s and how are they different? Can you think of work areas or industries in which Holacracy would be very difficult to implement?
Job satisfaction (When you first read about this exercisebreak plan in Chapter 23, you did not have an inferencemethod that would work. Try again now.) A companyinstitutes an exercise break for its workers to see if it willimprove job satisfaction, as measured by a questionnairethat assesses workers’ satisfaction. Scores for 10 randomlyselected workers before and after the implementation ofthe exercise program are shown in the table.a) Identify the procedure you would use to assess theeffectiveness of the exercise program, and check to seeif the conditions allow the use of that procedure.b) Test an appropriate hypothesis and state yourconclusion.c) If your conclusion turns out to be incorrect, what kindof error did you commit? WorkerNumberJob Satisfaction IndexBefore After1 34 332 28 363 29 504 45 415 26 376 27 417 24 398 15 219 15 2010 27 37
Review the SHRM case: “Designing a Pay Structure” You will prepare the SHRM case analysis on “Designing a Pay Structure,” which consists of your completion of Tasks A–J that simulate the creation of a compensation system for an organization in meeting its goals and supporting its mission. In your analysis, respond to the following tasks found in the case study by using Excel. Your case analysis should consist of: Task A: Create a complete job description for the benefits manager position using O*NET. Task B: Calculate the job evaluation points for the administrative assistant, payroll assistant, operational analyst, and benefits manager jobs. Provide a rationale for assigning specific degrees to the various jobs. Task C: If there were any outliers (i.e., extreme data points) in the data, what would you recommend doing with them? From this point forward, assume no extreme data points exist in the dataset. Task D: Conduct a simple regression in Excel to create a market pay line by…
Dont give wrong answer - else i will report you... Hautelook noted that the employee performance ratings are used as a basis to determine employee pay raises. Hautelook can use a merit pay grid to determine the amount for individual employee pay increases by looking at the employee’s performance rating and the ________. a hourly pay rate for the employee b position of the employee’s present pay range within the employee’s base-pay rate c percentage of the base pay the merit increase should represent d annual pay rate for the employee e position of the employee’s present base-pay rate within the pay range.
1. What are the advantages and disadvantages of extending Maura Currier’s leave?2. If you were the human resource director, would you grant her request? Explainyour answer. The Medical Leave Problem (FMLA)Maura Currier has been working for ComputerTech for four years as a lead supervisor.During the past two years, Currier’s mother has needed frequent medical attention forher diabetes. Being the only child, Currier has helped her mother, Jane Currier, as oftenas her work schedule would allow. Unfortunately, during the past two years, hermother’s condition has worsened.With the passage of the Family and Medical Leave Act (FMLA), Currier asked the firmfor, and was granted, an unpaid leave to care for her mother in accordance withcompany policy (see the policy in Exhibit 4.9). The agreement stated that Currier couldmiss work every Friday for 60 weeks rather than take off 12 straight weeks. At the endof 60 weeks, Currier returned to work full time and immediately began missing work tocare…
To improve productivity, employers expect employees to use computers and computer software. Typical business applicationsinclude email, word processing, spreadsheets, graphics, and other business application software programs. By improving yourskills in these areas, you can increase your chances not only of being employed but also of being promoted once you areemployed.Assignment1. Assess your computer skills by placing a check in the appropriate column in the following table: 2. Describe your self-assessment in a written report. Specify the skills in which you need to become more proficient, and outline a plan for doing this.
Carol Jones wants her business to increase sales by 50 percent over the next5 years. To do this, she must hire three more people. She wants to determinehow to evaluate these people, so she lists their job specifications anddevelops job descriptions. She also lists where these employees would workand what training they would require. What management functions is Carolperforming, and how do they apply to this scenario?
As a Human Resources Manager, you need to create a competitive pay policy for your company to achieve several objectives. Those objectives are to: 1. adjust internal pay levels to changing competitor pay rates. 2. set the internal mix of pay types relative to those paid by competitors. 3. estimate the labour costs of product market competitors. Describe four (4) steps you will take to create a systematic process and collect relevant information to achieve the above objectives. Please do fast ASAP fast
Human resources management is a situation specific process focused on a strategiccorporate approach to people. Given the diversity of people in the work context andthe particular time bound events/issues that define an organization, human resourcesmanagement provides customized management responses.(a) Define human resource management. (b) State SIX (6) human resource functions.(c) (i) Explain with the interconnections of human resource activities in the organization with example.(ii) Discuss the phrase ‘employee as human capital’.(d) Describe THREE (3) external environment that could possibly impactedhuman resource practices in organization.
Which forms of equity refers to the fairness of a job’s pay rate in comparison to other jobs with in the same company? What happens when the employee feels in equity for that? What does the company do for resolving?
1. With practical illustrations explain any three (3) ways by which human resource management ensures that an organisation is able to achieve success through people? 2. Akosua Mansa has complained bitterly about how laborious her work is, yet Nathaniel takes more salary than her: what is the best human resource management concept that can be used in helping Akosua understand the difference in their salaries? Explain your answer with practical examples 3. Some scholars have asserted that “human resource planning is not an important function to be undertaken in organizations, after all when you find out people are more you can instantly lay some off, and if less you can just replace. To what extent do you agree with this assertion? 4. How do you consider globalization and workforce diversity as challenges to human resource management? Support your answer with practical examples 5. A line manager said he has been reliably informed that recruiting from within an organisation is the most…
Develop three (3) program proposals that you think can help in improving the Job Satisfaction of employees in your company. (You may develop a new company or use an existing one) Provide the following details: COMPANY NAME: INDUSTRY: NUMBER OF EMPLOYEES: PROJECT NAME: HRM FUNCTION INVOLVED: OBJECTIVES: (at least three) HORT DESCRIPTION/ ILLUSTRATION OF PROJECT: DEPARTMENTS INVOLVED: PROPOSED BUDGET ALLOCATION: PROPOSED BUDGET SOURCING: