Can I have a long well-explained answer to this one? Thanks. How important are pay and fringe benefits in making people attached to a company and making them satisfied?
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Can I have a long well-explained answer to this one? Thanks.
How important are pay and
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- How invested should a company be in hiring and providing benefits to their hires? Is it too demanding for certain companies to expect nothing but high standards for who they hire, or should they provide opportunities to those with different goals that don’t have certain qualities?How crucial is employee happiness to the success or failure of a business?How would you suggest that people who work for you take on certain traits? How important are these traits for the business?
- You are a manager and have been assigned to a task force to consider discontinuing a number of the employee benefits your firm currently offers. What issues should you address in making this decision?What are the goals of companies that make their employees happy? Explain how these goals help in spreading happiness among its employees and all over the world.We've discussed Total Rewards approach to attracting and retaining employees. Assume that you are an External Consultant and were hired to evaluate a small business start-up (or business of interest to you) on how they should structure their Total Rewards program. Based on what you have learned about legally required vs. strategic (voluntary) rewards and provide an initial proposal for what this organization needs to do to be compliant with the law and reasonably attract workers.You must identify the jobs/nature of the work for which you are hiring and seeking to base compensation decisions upon. You must state whether they would be low vs. highly skilled workers and define the work to be performed in preparing your proposal . In your response, you should be able to provide an overall plan with recommendations (e.g., You don't have to state what the wages would be but you should be able to recommend to an employer how they could determine it - minimum wage, premium above minimum wage,…
- Compensation is one of the most important costs in organizations. Employees exchange their contributions for a set of outcomes, of which compensation is one of the most significant one. On one hand money is considered to be one of the key mechanisms that can be used to attract, retain and motivate competent employees to perform in ways that support organizational objectives. More often than not, a person’s earnings also serve as an indicator of power and prestige and are tied to feelings of self-worth. In other words, compensation affects a person economically, sociologically, and physiologically. On the other hand a telling fact is that money never satisfies and even large sums of it may fail to confer wellbeing. The failure is less due to a glitch in the program than due to the inadequacy of psychological assumptions that ground all such plans. As people move up the economic ladder, most almost immediately stop feeling grateful for their elevated circumstances and focus on what they…Very often when deciding on whether a new job is right for you, it’s important to look past the paycheck. As often stated - salary is important but it does not always guarantee happiness. With this in mind discuss four main things you will consider when weighing the pros and cons of a new position you may be offered.One strategy that organizations utilize in an attempt to offer an attractive benefits package to a diverse group of employees is flexibility. This could include: “cafeteria” style benefits, as well as flexible time off for both personal/sick time as well as holidays. What are pros and cons of this approach
- What are the disadvantages in terms of costs that a company could expect when changing the merit pay program?Strongly Agree - The best way to encourage high performance is by using rewards and punishment. Briefly explain one reason for your answer to one of the items.Assume that you were just rejected for a job based on one of these methods. Obviously, you might be disappointed and angry regardless of what method was used to make this decision, but can you think of two or three methods that might leave you most distressed? In general, why might the acceptability of the test to applicants be an important standard to add to the five we discussed in this chapter?