Assignment: 1. Give one example of a disadvantage if employees perceive that there is no fairness and equity in the pay structure of a company. Explain why you consider this as a disadvantage.
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- 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?Consider that you own a company and cannot pay the highest wages in the field. 1. What are the problems with not paying the highest wages?2. , explain what compensation components are by providingexamples.3. give an example of how job evaluation occurs in the compensationsystem.4. give a sample situation where an employee can get an incentivepay.5. give examples that will differentiate performance and longevity ascompensation bases.
- 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?Rena is an employee at Bayshore Ltd a private sector company for some five years now. When Rena was interviewed, she was told that her probationary period would be six months. However, she ended up doing two years of probation. Her organization seems to operate without a proper structure for employees. Her friend Zena has been in the public sector for the past three years and called Rena to tell her that she just received feedback from her annual performance evaluation, and she will now be in a senior post. Rena was confused about this performance evaluation, as she has never experienced one, she was fearful that this could result in her losing her job as she was not sure how this could assist her. Respond to these concerns by answering the following questions below: Questions A. Define performance evaluation. B. Identify FOUR (4) types of evaluation. C. Discuss THREE (3) benefits of performance evaluation.3. Suppose you work in the HR department of a manufacturing company that is planning to enrich jobs by having production workers work in teams and rotate through various jobs. The pay structure will have to be adjusted to fit this new work design. How would you expect the employees to evaluate the fairness of their pay in their redesigned jobs? In terms of equity theory, what comparisons would they be likely to make?
- Why Management first must position the firm’s general pay level relative to pay levels of comparable firms?x. critically analyze and discuss the myriad factors that frequently shape an organization's compensation decisions, considering both internal and external influences."Why does firm wide compensation pool is the best method to be used if the purpose of the company in granting said bonus is to retain good managers and motivate teamwork and sharing of assets among the firm.
- Many compensation professionals are faced with making choices about which discretionary benefits to drop because funds are limited and the costs of these benefits continually increase. Assume you make such choices. Rank order (at least five) discretionary benefits from the ones you would most likely eliminate to the ones you would least likely eliminate. Explain your rationale. Do such factors as the demographic composition of the workforce of the company matter? Explain3. give an example of how job evaluation occurs in the compensationsystem.4. give a sample situation where an employee can get an incentivepay.5. give examples that will differentiate performance and longevity ascompensation bases.1.explain compliance and boost employee motivation of compensation management and recommend strategies on how to achievethem.2. , explain what compensation components are by providingexamples.3. give an example of how job evaluation occurs in the compensationsystem.4. give a sample situation where an employee can get an incentivepay.5. give examples that will differentiate performance and longevity ascompensation bases.