...10 Assignment 4 - Recognizing Employee Contributions Assume that you are the HR Manager at a university. You want to create a way to recognize employee contributions in the Admissions Office. Determining the methods to motivate employees to enroll new students has been challenging. However, you are now being pressured by top management to reach admission goals. Employee participation in pay-related decisions could be part of a general move toward employee empowerment. Employees have hands-on knowledge about the kinds of behavior that can help the organization to perform well. Consider ways that you would attempt to meet the admission goals. Create a PowerPoint presentation with fifteen to twenty (15-20) slides in which you: 1.As the HR manager, propose two (2) methods that you will use to determine incentive pay. Explain if the rewards are tailored towards individual, group, and / or company performance. Explain how you as the HR manager will create an incentive pay program that will motivate employees. 2.The balanced-score card approach is useful in designing executive pay. Propose three (3) measures the HR manager can use to assess shareholder value, customer value, and employee value. 3.As the HR manager, analyze two (2) difficulties in creating a benefits package that motivates employees. 4.As the HR manager, propose three (3) incentives that can be used to motivate employees. 5.As the HR manager, examine two (2) ethical risks of making incentive pay a large portion of...
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...Recognizing Employee Contributions Power Point Presentation Human Resources Management 500 Atina Sims June 16, 2014 Dr. Jo-Rene Queensberry Introduction Human capital is one the factors that enhances growth in the corporate world. The human capital consists of employees working in various departments within the organization with the aim of attaining the set goals of the firm (Brun & Dugas, 2008). In essence, the human resources assist in bring the other factors of production together, and use their knowledge to ensure that the right quantity of all other factors are used appropriately, owing to the scarce resources, which firms must share with competitors (Bauer & Erdogan, 2009). In this regard, firms must ensure that they appreciate their employees’ efforts in attaining the set goals of the organization. This presentation, thus; seeks to elaborate on the process of recognizing employee contribution that firms can utilize. Methods to Determine Incentive Pay Incentive is the one of the ways through which companies motivate their employees in order to increase productivity. There are diverse incentives that companies can employ, although the most commonly used is the pay for performance incentive. A research conducted in a number of firms in the United States of America established that 86% of employees participating in the survey increased their productivity following provision of monetary incentive. the remaining 14%...
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...Recognizing Employee Contributions Name Institution Recognizing Employee Contributions Methods human resource professional can use to determine incentive pay A human resource professional can use the following methods in determining the incentive pay; Halsey premium method: under this plan a worker who completes the job within or more than the set standard time receives the usual time rate pay. However, a worker who finishes the job a time less than the normal time receives a bonus. The bonus is a fixed percentage of between 50% of the time saved with the other 50% being the employer's share. Consequently, the plan has catered for both the company and the employee. Not only does the method motivate workers to enhance their efficiency it also ensures that they equally share the advantage arising out of the time saved. Taylor’s differential piece rate method: the method is against the payment of incentives based on time. It provides for two piece rates that are the low piece for output below the standard and a high piece for work above the standard. Take, for instance, a company that has a standard of 40 units per day and 30 and 25 rates per unit for high and low piece respectively. A worker who produces 40 units gets a pay at the rate of 35whereas a worker who produces at 30 gets a pay at the rate of 25. The method takes into consideration both individuals, groups and the company since it ensures that efficient workers are highly reward, and the company will in turn attract...
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...market competitiveness and recognition of individual contribution. Internal consistent compensation system identifies the importance of each job compared to all the other jobs within an organization. Internal consistency ensures that employees are paid based on their positions. In other words, employees are paid for work of equal value as well as “acceptable” pay differences for work considered to be of “unequal”. Therefore, employees who posses higher “qualification, more responsibilities, and more complex job duties are expected to be paid more that employees who require less qualifications, fewer responsibilities and less complex job duties” (Martocchio, 2011). The purpose of internal consistency is to create procedures and develop pay structures that help the organization accomplishes its goals and satisfy employees and managers as well to ensure that the organization abides by the laws and regulations. Job analysis involves collecting, and examining data in an effort to define jobs. Job analysis explains job duties, responsibilities and requirements of the job. Job evaluation on the other hand, is a part of the compensation system that the organization uses to determine the importance of one’s job compared to another. Market competiveness pay system plays an essential role in the company’s ability to attract and retain qualified employees or candidates. Human Resource professional in charge of compensation base their pay system on several activities that include: “conducting...
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...HRM 500 Assignment 4: Recognizing Employee Contributions Click Link Below To Buy: http://hwcampus.com/shop/hrm-500-assignment-4-recognizing-employee-contributions/ 300 points You are the HR manager of a relatively new retail company that has both retail stores and Internet sales. Your company is steadily growing in revenue and profitability. The company realizes that in order to retain the solid, highly productive workforce it currently has in place, it is important to enhance the base compensation and benefits package offered to the employees. The company currently offers a basic compensation program and only federally mandated benefits. Employee surveys suggest the compensation and benefits program may be out of date. Employees are beginning to consider leaving the organization. Write a six to eight (6-8) page paper in which you: • Propose two (2) methods an HR professional could use to determine incentive pay. Specify the principal manner in which the proposed methods take into consideration individual, group, and company performance. Justify your response. • Examine the core legal requirements affecting employee benefits in today’s competitive environment. Determine the legally mandated benefits that the company must currently offer to its employees. • Recommend at least three (3) additional benefits that the organization should consider providing to its employees. Suggest at least two (2) important concepts that a company must consider when designing benefit...
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...HRM 500 Assignment 4: Recognizing Employee Contributions Click Link Below To Buy: http://hwcampus.com/shop/hrm-500-assignment-4-recognizing-employee-contributions/ 300 points You are the HR manager of a relatively new retail company that has both retail stores and Internet sales. Your company is steadily growing in revenue and profitability. The company realizes that in order to retain the solid, highly productive workforce it currently has in place, it is important to enhance the base compensation and benefits package offered to the employees. The company currently offers a basic compensation program and only federally mandated benefits. Employee surveys suggest the compensation and benefits program may be out of date. Employees are beginning to consider leaving the organization. Write a six to eight (6-8) page paper in which you: • Propose two (2) methods an HR professional could use to determine incentive pay. Specify the principal manner in which the proposed methods take into consideration individual, group, and company performance. Justify your response. • Examine the core legal requirements affecting employee benefits in today’s competitive environment. Determine the legally mandated benefits that the company must currently offer to its employees. • Recommend at least three (3) additional benefits that the organization should consider providing to its employees. Suggest at least two (2) important concepts that a company must consider when designing benefit...
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...ANSWER FOR QUESTION 1 CASE 1 EMPLOYEE MOTIVATION IN A GOVERNMENT ORGANIZATION" Q1. Discuss the long-term relevance of motivational techniques used by Baheti in the light of prevailing environment in the organization. ANS: Some of the most successful managers and executives have achieved their objectives by aligning the aims of their employees with those of their organization. Once an employee is able to understand, and empathize with the overall aims of the organization, they are generally more motivated towards achieving them. Having ensured that the organization and the employees are working towards the same objectives, managers can then focus on exactly which motivational techniques can be implemented to facilitate the achievement of these goals. It is clear that there are both positive and negative motivational factors which can lead to the achievement of objectives. These can be summarized as either fear or reward factors. This fear factor can indeed lead to good results in the short-term but, in the long-term; the employees are likely to be more focused upon whether or not they will be keeping their jobs, rather than upon fulfilling overall business objectives. Positive motivational factors are also many and varied and, although these may lead to long-term gains, they too can have negative aspects to them. Offering rewards and incentives is indeed motivational, but it is important to make sure that these are deserved and that recognition is given to the right person...
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...planning session was the antiquated compensation programs. The senior managers agreed that the compensation programs were too complicated and they conflicted with the key themes of the company’s new strategy. The base pay program emphasized the hierarchy of the organization and was not customer focused. The incentive plans were tied to individual accountability rather than group effort. The recognition programs were too limited in both was selected and who used them. Change needed to happen quickly if ACE Technology was going to regain its market leadership. Bill knew that changing the compensation plans was going to be very challenging, but it was too important to be delayed. As he entered his office, Bill thought, “ What do I do now?” Bill called his management team together to discuss linking human resources programs to the organizations’s new business strategy. He reviewed the changing conditions in the business environment and the rise of the new competitive forces. Although there were many opinions, few team members disagreed about the need to change. Bill reviewed the mission, vision, and values of the company. Although his staff members had heard this before, Bill outlined the company’s strategy against the critical success factors. Bill’s team began to see the pay program in context of the new strategy. The team members were able to examine what programs support or defend the new goals. Their discussion consumed most of the three-hour meeting. Other Ace Technology executives...
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...MONETARY REWARDS [pic] EMPLOYEE MONETARY REWARDS Monetary rewards are given for a variety of reasons. Some examples are meeting sales goals, achieving quality, outstanding performance in a given situation, or delivering a special project. Typical rewards are money in a form of a bonus, trips paid for by the company, gifts from a rewards catalog, or services such as cell phone or paid cable. TYPES OF REWARDS Selecting the appropriate rewards is vital to any programs success. The goal in choosing rewards is to select items that will spark the participant’s interest or feelings, and support the program’s objectives. Effective rewards will both motivate short-term behavior and provide motivation over time. VARIABLE PAY Variable pay or pay-for-performance is a compensation program in which a portion of a person's pay is considered "at risk." Variable pay can be tied to the performance of the company, the results of a business unit, an individual's accomplishments, or any combination of these. It can take many forms, including bonus programs, stock options, and one-time awards for significant accomplishments. Some companies choose to pay their employees less than competitors but attempt to motivate and reward employees using a variable pay program instead. According to Shawn Tully in Fortune , "The test of a good pay-for-performance plan is simple: It must motivate managers to produce earnings growth that far exceeds the extra cost of [the program]. Though employees...
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...Employee Recognition Program Handbook Department of Human Resource Management September 2000 DHRM 01/30/2001 TABLE OF CONTENTS INTRODUCTION............................................................................................ 2 RECOGNITION/REWARD............................................................................. 4 PROGRAM DEVELOPMENT ....................................................................... 7 KEY POINTS TO REMEMBER - ELEMENTS OF SUCCESSFUL PROGRAM ............................................. 7 STEP- BY-STEP GUIDELINES............................................................................................................ 9 IDEAS TO HELP MEET YOUR BUDGET ................................................ 17 NO/LOW COST RECOGNITION IDEAS............................................................................................ 17 MODERATE/HIGHER COST RECOGNITION IDEAS........................................................................... 18 APPENDIX A ................................................................................................ 18 RESOURCES ............................................................................................................................. 19 Web Sites ................................................................................................................................................................................19 Magazine/Internet Articles..........................................
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...employer has strong commitments to maintain a totally or partially nonunion workforce. 2. What is the most frequent method of communicating benefits to employees? How can this method be most effective The employee benefit handbook is the most frequent form of communicating benefits to employees. To be most effective the benefit manual should be accompanied by group meetings and videotape. 3. Which is the most popular empirical method of identifying individual preferences in benefits packages? Explain how this method works The flexible benefit plan is the most popular also known as cafeteria style plan or the super market plan. Employees are allotted a fixed amount of money and permitted to spend that amount in the purchase of benefit options. Employees directly identify the benefits of greatest value to them, and by constraining the dollars employees have to spend, benefits managers are able to control benefits costs. 4. Discuss what psychological contracts mean in employee benefit practices Psychological contracts are an articulation of the exchange relationship between the employer and the employee. A psychological contract has been defined as an employee’s subjective perceptions of the relationship of mutual obligations with the employer and the company. Employee benefits can be a part of the psychological contract employees hold about the employer’s obligations to them in exchange for their work efforts. 5. Briefly discuss how workforce demographic changes can...
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...Assignment #1: Setting the Stage for Strategic Compensation and Bases for Pay Katilia Y. Reed Professor: Kristin Araujo BUS-409 April 30, 2012 1. Describe the three main goals of compensation departments. Internal consistency- Compares all jobs with in a company and defines the relative value of each individual job establishing job structure or hierarchy. This ensures that the workers are being paid in relative comparison to the amount of skill, knowledge, training and ability the worker has as well as in relation to the level of each needed to be applied in order to perform the jobs proficiently Job analysis and job evaluations have to be done systematically in order to determine the levels needed and the wage amount comparable to work amount. Recognition of individual contributions- Establishes pay structures and identifies pay rate differences for jobs of unequal worth and the framework or recognizing differences in employee contribution. This will help to ensure that employees are paid according to their credentials, knowledge or job performance. Pay grades and pay ranges are structural features to the pay structure. Jobs are grouped for pay policy application. There is no single formula to determine what is sufficiently similar in terms of content and value to warrant grouping in to a pay grade. Pay ranges build upon the pay grades establishing minimum, maximum, and midpoint pay rates. Market competitiveness- This is the aspect that attracts new employees as...
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...state-of-the art design capabilities that has earned international acclaim and generated an annual earnings of $46 million. Attention to detail, extreme precision and enthusiastic quality control are the hallmarks of Riordan. With facilities in San Jose, Calif., Albany, Ga., Pontiac, Mich. and Hangzhou, China, Riordan is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion (UOP, 2006). Because of diminishing sales and uneven profits over the last two years, Riordan is faced with implementing new strategic plans to increase its profitability with an innovative customer relationship management system (UOP, 2006). The strain from the decline in sales has impacted employee morale adversely with little to motivate the workforce as its contribution has been overlooked and outright neglected. Riordon must reclaim its most valuable asset – its 550 people employees – by maintaining an innovative and team-oriented working environment and by assuring the employees are well-informed and properly supported. Situation Analysis Issue and Opportunity Identification Riordan was founded by Dr. Michael Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastics, Inc. in 1991. Initially, the company’s focus was on research and development and the licensing of its existing...
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...extend his workload to support undeserving employees. Deciding how much to pay an employee is an issue that Mark will face as just about every employer struggles with at one time or another. It's often a fine line between paying enough to attract (and retain) the best employees like Simon, Wesley and Kyle .Mark has to ensure he offers a competitive wage. Mark can ask his poor performers to suggest and implement process improvements in their respective areas. Marie and Anne were trained to make customer service a priority, yet those two acted like...
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...Pay for Performance and Employee Incentive are two compensation systems an organization may choose to adopt in designing a compensation package for their employees whereby monetary rewards are based on measured performance within the control of participants and groups.. Pay-for-performance is by far one of the most popular forms of compensation that employees can offer their workforce, even with its popularity, the question of whether or not it is the best way to compensate remains. The term “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. It makes major contribution to performance through...
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