You just got a job as a manager with a start-up company. As a manager, you are responsible for contributing to the creation and establishment of the compensation system. You will work with the human resources staff to provide your expertise about job responsibilities for different positions within your supervisory responsibility. When designing your compensation plan which would you pay more attention to: Expectanxy theory or equity theory? Be sure to include the reason why in your response.
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You just got a job as a manager with a start-up company. As a manager, you are responsible for contributing to the creation and establishment of the compensation system. You will work with the human resources staff to provide your expertise about job responsibilities for different positions within your supervisory responsibility.
When designing your compensation plan which would you pay more attention to: Expectanxy theory or equity theory? Be sure to include the reason why in your response.
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- Your company has recently implemented a pay-for-performance model for compensation. This worries you because you know that your employees will be even more upset with their performance ratings if they know that they are tied to compensation. What actions can you take to start to prepare for this change? How do you think your boss at the company where you work now, or where you have worked would handle the situation? If there are differences, whyYour annual employee evaluation is coming up. It will be conducted by your manager, but you do not think feedback solely from your manager would be helpful. You rarely see your direct manager as they are very busy and always traveling. In fact, your co-workers and customers know you somewhat better. You ask HR to include feedback from several sources including your manager and other sources such as your co-workers and customers. Please enter the term that is the solution:Internal equity is an important factor for compensation system success. Explain what is meant by internal equity? Why it is important? How it can be achieved? Should the job evaluation depend on an appraisal of the jobholder's performance? Why? Or Why not? Prepare a scale for evaluating jobs of your organization?
- Write your position regarding the importance of human capital management to achieve organizational goals and a competitive advantage. Recruitment and selectionOne of the most important jobs as a cafe manager is to recruit and select the best employees. a). Once you've attracted several potential candidates, how would you decide which one to select for your coffee shop? Identify at least three qualities or qualifications that this potential employee must have and that you consider very important for candidates for the server position.b Write five questions that you could use for the job interview of potential candidates for the position of waiter.Respond to each of the following short essay questions. Responses should be between 100 - 500 words depending on the complexity of the question. Use correct grammar and spelling to address each question thoroughly. Do not use direct quotes. Instead, to align your ideas with the text, paraphrase and summarize. Explain the basic compensation objectives of pay systems. Compensation systems can be tailored to general business strategies. List and explain these strategies. State the theory of marginal productivity. How do employees judge the fairness of their pay? Describe the ways in which job information can be collected for job analysis. What should the manager do if employees and their supervisors do not agree on what is part of the job? What are the two aspects of diversity in work? What is the significance of marginal revenue? According to efficiency-wage theory, how do increased wages increase efficiency and lower labor costs? Explain the low-high approach in selecting jobs for…Pay-for-performance compensation models improve employee engagement and retention by clearly tying employee or company achievement of performance goals to tangible financial rewards. 1. What are the advantages and disadvantages if pay-for-performance compensation model will be adopted by the government? 2. Which government agency will benefit from this compensation model?
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