Understanding Business with Connect Access Card
12th Edition
ISBN: 9781260277142
Author: William Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Question
Chapter 11.8, Problem 11.8AQ
Summary Introduction
To discuss: Whether a class instructor ever award bonuses for exceptional performance in class.
Introduction: Performance appraisal is an evaluation that measures employee performance against established standard in order to make company’s important decisions.
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Two employees perform the same job, and each received exemplary performance ratings. Is it fair to give one employee a smaller percentage merit increase because their pay falls within the third quartile but give a larger percentage merit increase to the other because employee #2s pay falls within the first quartile? Explain your answer.
There are 4 basic parts of a compensation system. Which one do you think is the most important when recruiting new employees, and why? Which one is most appealing to you when you begin a job search upon graduation, and why?
A company’s compensation and rewards strategy is most effective when it remains in line with the organization’s overall business strategy and maximizes talent management. While human resources departments must strive to attract and retain the best workers for each position, the incentives needed to engage those workers must be balanced with the costs to the company.
For this assignment, research compensation strategies, and consider general compensation programs for the position you identified in previous module assignments.
Describe the base pay range and major incentives that are included in your benefits package and respond to the following:
What types of rewards, both tangible and intangible, can be used to recognize and incentivize an employee in this position?
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How…
Chapter 11 Solutions
Understanding Business with Connect Access Card
Ch. 11.1 - Prob. 11.1AQCh. 11.2 - Prob. 11.2AQCh. 11.2 - Prob. 1TPCh. 11.2 - Prob. 2TPCh. 11.2 - Prob. 3TPCh. 11.2 - Prob. 4TPCh. 11.4 - Prob. 11.4AQCh. 11.5 - Prob. 11.5AQCh. 11.5 - Prob. 5TPCh. 11.5 - Prob. 6TP
Ch. 11.5 - Prob. 7TPCh. 11.5 - Prob. 8TPCh. 11.5 - Prob. 1MEDCh. 11.6 - Prob. 11.6AQCh. 11.6 - Prob. 11.6BQCh. 11.6 - Prob. 11.6CQCh. 11.7 - Prob. 9TPCh. 11.7 - Prob. 10TPCh. 11.7 - Prob. 11TPCh. 11.8 - Prob. 11.8AQCh. 11.8 - Prob. 11.8BQCh. 11.9 - Prob. 11.9AQCh. 11.10 - Prob. 11.10AQCh. 11.10 - Prob. 12TPCh. 11.10 - Prob. 13TPCh. 11.10 - Prob. 14TPCh. 11 - Prob. 1CECh. 11 - Prob. 2CECh. 11 - Prob. 3CECh. 11 - Prob. 4CECh. 11 - Prob. 1CTCh. 11 - Prob. 2CTCh. 11 - Prob. 3CTCh. 11 - Prob. 4CTCh. 11 - Prob. 5CTCh. 11 - Prob. 1DCSCh. 11 - Prob. 3DCSCh. 11 - Prob. 4DCSCh. 11 - Prob. 5DCSCh. 11 - Prob. 1VCCh. 11 - Prob. 2VCCh. 11 - Prob. 3VC
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Similar questions
- Reward refers to the total amount of monetary and non-monetary compensation paid to an employee in exchange for work or service performed at work. Which of the two types of compensation has the greatest influence on increasing performance? Explain.arrow_forwardYou want to transition your organization’s performance appraisal system into a performance management system. Write a one-page memo to your supervisor describing the advantages of having a well-designed, properly implemented performance management system.arrow_forwardPay-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?arrow_forward
- When employees feel valued, they feel better about coming in to work and overall company morale increases. Evaluate the fundamental goals of the compensation department in modern organisations.arrow_forwardAs the HR director of training and development, you have been asked to provide an analysis of the benefits and challenges of training programs within the newly developed organization. The following must be addressed in your analysis: Why are training programs or policies important to employee retention and motivation?arrow_forwardWhat is a good employer? What can employees contribute the best to the workplace? Please provide references.arrow_forward
- Give at least 5 examples ( your own example) of a non cash compensation items that can be used by the management to reward managers and employees for their efforts and good performances.arrow_forwardWhat steps should be taken to ensure pay equity? Rather than focusing on past performance in a yearly review, should employee performance evaluation systems incorporate continuous feedback?arrow_forwardBased on your experience developing a Total Rewards strategy for this course, what advice would you give HR professionals when undertaking such a task, e.g., what guiding principles should they be aware of? How much time should they allot for such an endeavor? What resources will they need to accomplish this? Examine the role of ethics and corporate social responsibility and its influence on the development of Total Rewards for an organization. For example: How might CSR influence a company’s interpretation of employee pay? What role do budget constraints play in corporate social responsibility?arrow_forward
- 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, whyarrow_forwardAlthough benefits account for a large share of employee compensation, many people feel there is little evidence on whether an employer receives an adequate return on the benefits investment. One suggestion has been to link benefits to individual, group, or organization performance. Explain why you would or would not recommend this strategy to an organization.arrow_forwardHow can a business maintain a stable workforce and avoid skilled workersleaving the company? Please explain your answer by giving your opinions on;a) Compensation b) Trainingc) Motivationarrow_forward
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