...areas of psychological function. Personality is expressed through its influences on the body, in conscious mental life, and through the individual's social behavior." (Mayer, 2005) PERSONALITY TYPES Personality typing is a tool of great importance to recruitment managers. It's especially helpful in the areas of growth, self-development and recruitment. Developing understanding of personality typology, personality traits, thinking styles and learning styles theories can be a powerful and a rewarding experience, if it is used as a tool for discovery, rather than as a method for putting people into boxes, or as an excuse for behaviour. PERSONALITY THEORIES There are many different personality models and theories, and each one offers a different perspective. Some of the personality theories are Carl Jung’s personality types, David Keirsey's personality model and the 'Keirsey temperament sorter', Eysenck's three factor model, Type A and Type B personality theory, Myers-Briggs Type Indicator, Keirsey Temperament Sorter, Big Five Personality Traits…….. Carl Jung’s personality type and Big Five Personality Traits would be used in suggesting the type of employees who fit in Doku’s system. CARL JUNG’S PERSONALITY TYPES The first of Jung’s general psychological types was the general attitude type. An attitude, according to Jung, is a...
Words: 2011 - Pages: 9
...Assignment Mark Holzhauser XCOMM/285 10/16/2011 Heather Parker What is Tuition Reimbursement? Simply put, Tuition Reimbursement is a program many companies offer to their employees in which the company reimburses some or all of the tuition fees their employees spend on education. Tuition Reimbursement is a classic win-win scenario. The company gets a better trained, more educated, and often more loyal employee, while the employee receives a subsidized education that may achieve a personal goal and without doubt makes them more marketable in the workforce. Some programs offer reimbursement for books, other expenses, and even a bonus once the employee receives his or her degree. Should we offer tuition reimbursement to our employees? The answer is simple. Yes, we should offer tuition reimbursement to our employees. Starting a tuition reimbursement program is a good idea for both the employee and employer. By helping our employees better themselves we are also helping our company by having more educated employees. We are also creating a more loyal employee. They are less likely to leave the company when they are in a tuition reimbursement program and are more loyal to the company afterwards. We also could attract the best available prospective employees with such a benefit. There is a lot of competition out there vying for the best young employees and we certainly would like to remain competitive in our recruitment efforts. Some examples of companies that...
Words: 1153 - Pages: 5
...Employee Benefits Employee benefits is very important benefit that every employee should be looking at when it comes time to search for a job. Many companies offer a lot of employee benefits, however; there are some that are more important than others. When the organization is developing and planning their benefit package, there is information that is very important for the planning process and then there is other information that is not as important when it comes to the planning process. The most important information when it comes to planning process for employee benefits would be compensation(2014). You have to have a good compensation package for your employees based on their experience, education, and knowledge. When employees are searching for jobs, one of the first things they want to know is how much they will be making per an hour or if it is salary, the employee will want to know how much their salary is going to be. So that would be one of the most important things to consider when planning for the process of employee benefits. The second most important thing when a company is planning for employee benefits would be medical insurance. Most companies offer health insurance, dental insurance, vision insurance, and prescription coverage. Now a days, every person has to have health insurance due to the Obama care so that is why the medical insurance is one of the most important things to plan when planning the employee’s benefits process. Medical insurance is...
Words: 739 - Pages: 3
...Glossary of HR terms For the benefit of human resources professionals, both new and seasoned, we present a Glossary of Terms. If, having read the Glossary, you feel that there are any omissions, then contact us . Absolute ratings A rating method where the rater assigns a specific value on a fixed scale to the behavior or performance of an individual instead of assigning ratings based on comparisons between other individuals. Affirmative action Also : Positive discrimination. Carried out on behalf of women and disadvantaged groups and members of such groups are placed in dominant positions. Appraisal See Performance planning. Attrition A term used to describe voluntary and involuntary terminations, deaths, and employee retirements that result in a reduction to the employer's physical workforce. Autocratic leadership Leader determines policy of the organization, instructs members what to do/make, subjective in approach, aloof and impersonal. Balanced Scorecard A popular strategic management concept developed in the early 1990's by Drs. Robert Kaplan and David Norton, the balanced scorecard is a management and measurement system which enables organizations to clarify their vision and strategy and translate them into action. The goal of the balanced scorecard is to tie business performance to organizational strategy by measuring results in four areas: financial performance, customer knowledge, internal business processes, and learning and growth. Behaviorally...
Words: 15364 - Pages: 62
...Chapter 4: Components of Compensation Strategy * The first strategic decision is about the relative proportions of base pay, performance pay, and indirect pay to include in the compensation mix. * Three other choices follow – what method(s) should be used for establishing base pay, what type(s) of performance pay(if any) should be provided, and which elements of indirect pay should be included. Compensation Mix choices: Base pay job evaluation, market pricing, and pay for knowledge Performance pays individual performance, group performance, and organization performance Indirect pay Mandatory benefits, pension plan, health and life insurance, pay for time not worked, employee services, and other benefits. Base pay: * Base pay: is the portion of an individual’s compensation that is based on time worked not on the output produced or results achieved. * Base pay accounts for 75 to 80 percent of the compensation for a typical employee, performance pay about 5 to 10percent, and indirect pay about 15 percent of the total compensation. However these proportions vary across firms. * Base pay is guaranteed by the employer if a person works for a certain amount of time; he or she is paid a prespecified amount of money. In some case, this amount is calculated on a hourly basis, in others daily, in others weekly, or monthly, or annually. * When base pay is calculated on an hourly basis, base pay is known as wage * When base pay is calculated...
Words: 5823 - Pages: 24
...excelling employees and may not have to worry about a huge turnover ratio. Compensation Methods “Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.” (HR Guide to the Internet) In this type of economy, many businesses will start to freeze wages and stop giving their employees any type of compensation. However, this may hurt the employee morale. By giving out a reward for an excellent job performance at times, a company could see a bigger profit in this rough economy. There are a few different types of compensation methods. These methods include but are not limited to the following: • Commission • Overtime • Bonus • Expense Allowances Commission can be given to employees if they sell a certain number of items or a certain amount of profit that an employee brings in. Overtime is different at all companies and can be a very big benefit to those who are not on salary pay. Bonuses can be awarded if a certain goal has been met by a particular employee. Finally, expense allowances can be given to those who may have to...
Words: 1149 - Pages: 5
...philosophy, pay structure, base pay incentive, external versus internal equity, and principle benefits. Recognizing the current employee loss rate and understanding the results of the exit interviews; this analysis will give answer to why employees are leaving. This plan will also create a process that will sustain employment levels while creating a positive employee growth rate. The reasons and development process created for Holland Enterprises will attract and hold the type of employee that will allow them to be successful in the future. Current Status of Holland Enterprises Holland Enterprises is a company that currently employs 3,500 employees. Although this is a high number it needs to be understood that the company has actually lost 25% of the staff since 2007. At that time the personnel count was approximately 4,667 employees. When workers ended their time of service with the company exit interviews were held. The top reason given for leaving the establishment for other options was that the compensation and benefits offered by the Holland Enterprises were not competitive with other companies recruiting like-minded and positioned people. Since this has become the overall motivating factor that has caused such a large exodus steps will be taking remedy this problem making us more competitive with prospective recruits. As the city’s largest employee it is important that we maintain a consistent staff rate. Compensation & Benefit Outlook The relationship between...
Words: 2096 - Pages: 9
...1. Define the three different types of Piece Rates. Answer: 1) Straight Piece rate 2) Piece rates with guaranteed time rates and 3) Differential Piece rates Straight Piece rate In this method payment is made on the basis of affixed amount per fixed units produced without regard to the time taken Earnings = Number of units x rate per unit. Piece rates with guaranteed time rates In this system the payment is at the time rates but adjusted to the cost of living. Merit awards for personal qualities, skill, ability, punctuality etc. are also considered. The employer compensates the high labor cost by increasing the price of the products. Differential Piece rates A wage plan based on a standard task time whereby the worker receives increased or decreased piece rates as his or her production varies from that expected for the standard time. Also known as accelerating incentive. 2. Define Sales Commission, and explain the conditions that should exist/be met within a position for this pay-for-performance methodology to be successful. Answer: The amount of money that an individual receives based on the level of sales he or she has obtained. The sales person is provided a certain amount of money in addition to his/her standard salary based on the amount of sales obtained. Conditions that should exist: 1. Organizations must tailor pay for performance systems to their mission and environment 2. A pay for performance system can only be effective if employees...
Words: 970 - Pages: 4
...University of Redlands Makebra Bridges – Human Resources Management Because of limited resources, many small businesses have difficulty recruiting & retaining top talent. In this paper, I will discuss how companies use indirect-financial incentives to gain a competitive advantage. How Small Businesses Provide Competitive Compensation Packages in a Global Environment. Table of Contents Introduction………………………………………………………………………………………………………….. 2 Salary vs. Compensation ..………………………………………………………………………………….. 3 Indirect Financial Payments ……………………………………………………………………………….. 5 1. Employer Match Incentives 2. Cash Rewards 3. Flexible Hours 4. Tuition Reimbursement 5. Paid Time Off Employee Rewards …………………………………………………………………………….……………… 12 Conclusion ………………………………………………………………………………………….……………… 13 INTRODUCTION In today’s workforce, small businesses—companies with 100 or less employees—are making a BIG impact. * There are more than 23 million small businesses in America--accounting for 54% of all U.S. sales. * Since the 1970s, small businesses have provided 55% of all jobs and 66% of all new jobs. * The 600,000 plus franchised small businesses in the U.S. account for 40% of all retail sales and provide jobs for some 8 million people. * The number of small businesses in the United States has increased 49% since 1982. * Since 1990, as big business eliminated 4 million jobs, small businesses added 8 million...
Words: 1880 - Pages: 8
...Introduction Benefits are incentives used to attract and retain quality employees. Benefits can range from short-term to boost production and employee moral to long-term to make employees want to stay and be loyal to the company. There are benefits that are required by law and those that common in most work places but surprisingly not required by labor laws but are used to attract and retain employees as well as keeping the organization competitive in the job market. There are different types of benefits ranging from fringe to ones only designated to special groups. We will explore these different types and who is entitled to them. Federally Mandated Benefits Almost all employers are legally required to provide certain benefits for employees. These include Medicare, Social Security, Workers Compensation and Federal and State Unemployment Insurance. Companies with 50 or more employees must also provide workers with unpaid family and medical leave benefit under the Family and Medical Leave act or FMLA. Worker Compensation The Office of Workers' Compensation Programs administers four major disability compensation programs which provide wage replacement benefits, medical treatment, vocational rehabilitation and other benefits to certain workers or their dependents who experience work-related injury or occupational disease. The of the divisions is the Division of Federal Employee's Compensation in which the Federal Employees' Compensation Act provides workers' compensation...
Words: 1381 - Pages: 6
...Compensation Strategies Table of Contents Executive Summary 3 Introduction 5 Research Findings 6 Health Benefits 6 Retirement Planning 7 Employee Rewards and Incentives 8 Recommendations 10 Conclusion 11 References 12 Executive Summary We need to re-evaluate our current employee package. Our compensation strategy needs an entire tune-up. We do not offer competitive benefits that will entice the type of employees we want working for our company on a long-term basis. A new, improved, and luring employee benefit package will help set us apart from our competition. Our current benefits policy includes: Paid vacation for salaried employees only after 1 full year of continuous service, paid sick days for salaried employees only after 1 full year of continuous service, medical and dental only to all employees after 6 months of continuous service, holiday dinner for corporate employees and their spouse/domestic partner. We can improve these areas and add some other options to our current employee package, Our current health benefits are through an HMO, which is the best option at this time. Perhaps in the future when we have become a 500+ employee company we can look at the other option, a PPO coverage with an additional option to include an HSA account. Our current HMO plan provides coverage with a small co-payment and a 20/80 % coverage with a $1000 annual deductible. The only way I can see right now to...
Words: 3032 - Pages: 13
...midsized company and must make a decision about the company’s employee benefits package. You have not been in this position before and must maintain the current benefits budget; there may be no increases or changes to the package that will result in additional spending. 1. Describe the selection process you would use to make the most cost-effective and employee-friendly decision. Answer – Choosing the right type of benefits package is a very critical component of being attractive employer, helping attract and retain satisfied employees, by ensuring that majority of employee needs are taken care of. Given the huge number of options that are available in the market, with many more coming up every year, it becomes very tricky to determine what benefits package would be the most beneficial to the employee. Given the constraints on budgets, there must be multiple trade offs made between the extent and variety of benefits provided, and therefore the employer has to determine which package would cover the needs of majority of its employees. In this scenario, given that the available budget is fixed and the benefit plan for the next year has to at least as good as or even better than the previous year, the HR director has to think creatively to come up with a package that best aligns with the needs of the employees. The end result of the process to select should be selection of a plan that satisfies most employee needs, and hence employee’s needs should be a key input to the...
Words: 1853 - Pages: 8
...2016 Table of contents Page 1. Introduction 3 1.1 Background of the study 3 1.2 Objective of the Study 3 1.3 Background of Ethio Telecom 3 1.4 Methodology 5 2. Literature review 5 2.1 Compensation (Employee benefits) 5 2.2 Direct compensation 6 2.3 Reward and Incentives 6 2.4 Indirect/Fringe benefits 7 2.5 Employee benefits and performance 7 3. Data analysis and presentation 8 3.1 Introduction 8 3.2 Benefits package at Ethio Telecom 8 3.3 Demographic/Biodata analysis 8 3.3.1 Gender of respondents 8 3.3.2 Age of respondents 9 3.3.3 Level of qualification of respondents 9 3.3.4 Experience of respondents 10 3.4 Descriptive analysis 10 3.4.1 Employees opinion towards their benefit 10 3.4.2 The effect of benefits on performance 11 3.4.3 Fair distribution of benefits throughout the structure 11 3.4.4 Benefits package of Ethio Telecom compared with other org. 11 3.4.5 Additional benefit required by employees 11 3.4.6 Which level of organization’s structure performance is highly Affected by benefit 12 3.4.7 Which type of benefit is mostly preferable 12 3.4.8 Importance of benefit package for performance 12 4. Conclusion and recommendation 12 4.1 Conclusion 12 4.2 Recommendation 12 Questionnaire 14 Reference 19 1....
Words: 4103 - Pages: 17
...Running head: SUSTAINING EMPLOYEE PERFORMANCE PAPER Sustaining Employee Performance Paper Alejandro Zatarain, Jamie Lewandoski, George Hull SEC/300 March 28, 2016 Chris Bingham In this paper we will be discussing two positions of the Elias Group Organization. The two positions that we will discuss would be the Director of Technical Services and the Director of Administration and HR. We will describing the functions of performance management, suggest two jobs evaluations, compare possible compensations for this two positions and also we will be explaining the importance of providing employee benefit plans to the employees working in this two chosen positions. The two jobs that we as a team have identified for the Elias Group Organization is the Director of Technical Services and the Director of Administration and HR. The Director of Technical Services is in charge of three managers, which are the manager of web services, the manager of information res. and the manager of desktop services. The other position, which is the Director of Administration and HR in this position, they answer to the president of the company and which they answer to the board of directors. In this position the Director of administration and HR is involved with the legal counsel since they have to deal with Human Resources department and administration. The general function of performance management is to promote and improve employee effectiveness. It is a continuous process where managers...
Words: 1576 - Pages: 7
...it is important to use our profits to reinvest into our employees. Until now our employee benefits have consisted of medical, dental and life insurance. We would like to add tuition reimbursement to make a more rounded benefits package. An excellent benefit is to add tuition reimbursement for the bachelor’s degrees in business and communication. The benefits of adding tuition reimbursement are endless within our company. This tuition reimbursement program is beneficial to both RJ Welch and its employees. This would offer new opportunities to our employees such as better careers, a higher earning potential and higher company moral. The company would benefit from this addition by being a more attractive company to work for and will increase employee retention. Tuition reimbursement would better employee careers by offering an education that they otherwise may not be able to obtain financially on their own without school loans. The cost of a degree at the end of 2011 will cost approximately $13,000 to $62,000 per student based on research done at (http://www.geteducated.com/online-college-ratings-and-rankings/best-buy-lists/best-buy-online-bachelor-business-managementand). With the cost of this schooling I don’t believe loans of this size are not profitable for enough for employee’s to obtain on their own. With this type of tuition assistance our employees will have enough reason to achieve this type of education. This added benefit will also offer higher earning potential to our...
Words: 1092 - Pages: 5
