QUESTION 6(20 Marks)Employee benefits have become an essential part of any competitive compensation package and also help organisations takecare of high-performing employees without the need to keep investing in exceptionally high pay raises.Evaluate any FIVE types of employee benefits that your organisation may use to motivate and take care of high-performingemployees in South Africa. Use suitable examples to strengthen your answer.

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Answered: QUESTION 6 (20 Marks) Employee benefits…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Topic: Gross and Rook (2018) suggest that it is essential for total reward programs to acknowledge "the needs of the business, the changing environment, the aspirations and demographics of employees, the local culture, and the current and future cost constraints" (p. 350). They argue for shifting the focus from disparate pay components to a holistic total rewards approach that includes: Compensation – base pay and variable pay plans Benefits Careers Work life Given this understanding, do you believe your organizations total rewards program is appropriate and effective in attracting, retaining and engaging talent? Are there any gaps? Make some suggestions on how your organization can improve total rewards. Please comment on each of the four components listed above. If you're current not working, you can use a previous company you worked for. If you have not yet worked anywhere, you can answer these questions in general.
Q1. Explain in your own words how you understand the relationship between Hindrance Stressors and Job Performance. Provide your own example.
Q#3 Many companies strive to design jobs that are intrinsically motivating. Visit several small and large company websites and search their career section. What job features related to motivation are highlighted? What type of employees do you think the companies will attract with these jobs? Explain with suitable examples.
Q 4. Suppose you are assigned to develop a career planning and development programme in a large organization with a diverse workforce? What unique concerns might you have because of this diversity? Explain with relevant examples.
Question 2 David and Stephanie worked in the same department as Officer and their performance were equally good. They both had expected reasonable increment at the end of the year. However, David had found out that Stephanie had received a higher increment than him which now made sad. Using your knowledge of motivation theories: i) describe the theory which best describes the situation above Answer should not be less than 250 words. Thank you for your afford.
26. Jules received a salary increase based on her individual performance as a Fashion Manager over the past year. Which type of compensation did Jules receive? Merit pay Merit bonus Equity incentive Individual bonus
Business management Question- Discuss the steps involved when determining an remuneration Package. employee's
Q:1 To use the Paired Comparison Method evaluate which employee is better in “Quality of work” and which employee is better in “Creativity” and why? From given data above. Q2. Explain the importance of Communication in an organization
Mexicana’s Compensation Strategy For many businesses in today’s belt-tightening economy, decisions on pay need to be strategic to ensure that employees are treated fairly and to ensure that businesses can remain viable. This requires knowing what your competitors pay their employees and knowing your own salary budget. But knowing what your competitors are paying can be both valuable and painful. As a primary stakeholder and former CEO of Mexicana (a fast growing chain of fresh Mexican restaurants) Bongani Ndlovu knew he was competing against some restaurant chains with competitive compensation systems. Mexicana is a fresh Mexican grill featuring Baja-inspired foods that are made from scratch daily. Following a trip to Cabo San Lucas on the Baja Coast in Mexico, Mexicana founders Bongani and Zandi Ndlovu were inspired with a vision to bring the freshly made Mexican cuisine with the vibrant lifestyle to South Africa. They started their first restaurant in 2008, and after just 13 years,…
Describe the key purpose of a compensation system Explain why an effective compensation system is important to most organizations. • Distinguish between extrinsic and intrinsic rewards. Distinguish between a reward system and a compensation system. • Describe the key aspects of a compensation strategy.
Management Question - What strategies can organizations employ to encourage employees to refer high-quality candidates rather than simply referring friends or acquaintances?
Business decision case A Texas Company manufactures skateboards. Because the company's business is seasonal, between August and December skilled manufacturing employees are laid off. To improve morale, the financial vice president suggested that 10 employees not be laid off in the future. Instead, she suggested that they work in general labor from August to December but still be paid their manufacturing wages of USD 10 per hour. General labor personnel earn USD 6.60 per hour. What are the implications of this plan for the assignment of costs to the various segments of the business?

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