When choosing a compensation management system, future capabilities refers to the ability of the chosen technology to match the changing needs. True False
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- There is a common concern today that executive compensation in the U.S. is: Multiple Choice O O Not adequately linked to strategic performance measures. Ineffective as a performance incentive. Not properly disclosed to the IRS. Too diverse among industries. Too low for the value added.How to create a definition of performance. How to identify the determinants of performance and the influential factors associated with performance. The difference between task and contextual performance. The appropriate approach to measure performance. How to develop accountabilities, objectives, standards, and competencies for performance. How to develop comparative and absolute performance measurement systems.Historically, workers compensation programs in the United States have been based on assertions that: (1) workers benefit from a no-fault system, and (2) employers benefit from a position of limited liability for workplace injuries and diseases. This is known as the: A. experience rating principle. B. coordination of benefits principle. C. exclusive remedy principle. D. level playing field principle.
- The figure below shows Maria's employment rent, taking into account an expected length of unemployment of 44 weeks. Based on this figure, which of the following statements are correct? Hourly wages ($) Hourly wage=$12 Unemployment benefit plus the disutility of effort=$8 Unemployment benefit = $6 0 0 Select one correct answer. what Maria gets should she not lose her job today =what Maria gets should she lose her job today Maria's rent when employed Disutility of effort when employed What Maria receives in unemployment benefit during her period of unemployment Number of 35-hour weeks Employment rent per hour Reservation wage per hour Expected duration of unemployment =44 weeks (1,540 hours) O An increase in unemployment benefit would increase the size of the employment rent A longer expected duration of unemployment would increase the size of theDescribe the approaches to managing performance problems. Which approach is the worst in dealing with performance issues? Why? please explain clearly 250-300 wordsPerformance management is a comprehensive process designed to maximize the effectiveness of individuals, teams, and organizations in achieving their goals. It involves setting clear objectives, providing feedback and coaching, evaluating performance, and rewarding success. Effective performance management helps align individual and team efforts with organizational objectives, fosters employee development and engagement, and enhances overall productivity and effectiveness. Key components of performance management include establishing SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals, providing regular and constructive feedback, identifying areas for improvement, and recognizing and rewarding achievements. Performance management also encompasses ongoing communication between managers and employees to clarify expectations, address concerns, and support career development. By implementing a robust performance management system, organizations can optimize their human…
- What are employee benefits? Explain how they are a major part of the compensation package. Review a current compensation package and determine if it is adequate and fair given the tasks needed in the job.Review the SHRM case: “Designing a Pay Structure” You will prepare the SHRM case analysis on “Designing a Pay Structure,” which consists of your completion of Tasks A–J that simulate the creation of a compensation system for an organization in meeting its goals and supporting its mission. In your analysis, respond to the following tasks found in the case study by using Excel. Your case analysis should consist of: Task A: Create a complete job description for the benefits manager position using O*NET. Task B: Calculate the job evaluation points for the administrative assistant, payroll assistant, operational analyst, and benefits manager jobs. Provide a rationale for assigning specific degrees to the various jobs. Task C: If there were any outliers (i.e., extreme data points) in the data, what would you recommend doing with them? From this point forward, assume no extreme data points exist in the dataset. Task D: Conduct a simple regression in Excel to create a market pay line by…Performance appraisal is a regular process for assessing the performance of employees in a given period conducted by the leadership. The performance is measured against such factors as job knowledge, quality and quantity of output, initiative, leadership abilities, supervision, dependability, co-operation, judgment and versatility. According to Picnicu (2020) the performance appraisal process can have a significant impact on employee morale and engagement. This method often provides valuable insights to managers and employees, helping companies make decisions regarding bonuses, raises, promotions and other rewards. It also allows managers to define medium-term and long-term objectives for their team members and help them grow professionally. Thus, getting an objective evaluation of an employee's performance will help a company identify any existing problems in the workplace. This will help the HR department to solve those problems quickly and with ease. Questions1) Evaluate the…
- Traditionally organizations have taken a one size fits all approach toward providing benefits. However, considering the diversity of today’s workforce, more organizations are modifying their compensation packages to include a variety of packages. Some of the rewards organizations can provide include: increased base pay, bonuses, shortened workweeks, extended vacations, paid sabbaticals, flexible work hours, part-time employment, guaranteed job security, increased pension contributions, college tuition reimbursement, personal days off, help in purchasing a home, recognition awards, paid club memberships, and work-from-home options. What are the positive aspects of having individualized rewards? (Think in terms of employees and managers.) What are the negative aspects of having individualized rewards? (Again think in terms of employees and managers.)What are the benefits for both management and staff of the scientific management approach to job design (specifically mission specification, simplicity and repetition)?Develop a table on performance appraisals (PA) and how they are applied to training. In column 1, identify three different types of PAs that can be offered. In column 2, analyze how the PA can be applied to a training effort. In column 3, identify one type of training and one assessment tool for each PA that could be used to identify training success.