...Sales Compensation Plan No matter which industry you are preforming, “Sales” is the word and also the soul of every business. Sales represent the profit and the level of success of a company, Sales is what every company non stop seeking for. With higher sales, the profit, earn with a company will be higher. So, how to make your sales become higher? There are many things and effort to do to increase your sales. All the departments in a company must fully commit together to achieve the mission, vision and objective of the company, well, and also every department must have a good leader. But then again, the task of getting higher sales and profit must hand over to the marketing and sales department. In a Marketing department, the jobs are promoting and market the product/service. The sales manager and salesperson are responsible for this task. Therefore, to achieve the mission, vision and objective of a company, sales force and sales quota should be clearly stated in month report and annual report. Meanwhile, to encourage the salesperson to hit the targeted sales, a sales compensation plan should be introduced to them. Sales compensation plan is the is largely tied your sales organization’s ability to achieve specific objectives and targets, then everyone will be incentivized to perform the kinds of revenue-driving activities that yield those results. Sales compensation plan not only build to consolidate the sales of the company, it also consolidates hearts of employees...
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...IMPACT OF TRAINING AND COMPENSATION ON EMPLOYEE PERFORMANCE A CASE STUDY OF NILAI UNIVERSITY COLLEGE Introduction Employees are one of the most important and valuable resources of an organization which is needed to accomplish the objectives of an organization (Jiang et al., 2012, Soomro, Gilal, Jatoi, 2011). The importance of employee is more pronounced in a service organization. For a service organization like a college to accomplish its objectives, it must have the right kind of staff with appropriate skills to provide the service since the employees will be in direct contact with the customers (Soomro et al., 2011). Employees can be source of competitive advantage for an organization since they could effectively used the other resources to accomplish organizational objectives (Tiwari, 2011). Effective HR practices are important in motivating the employees to perform their functions well in order to achieve organizational objectives and reduce the number of employees leaving the organization (Soomro et al., 2011). Thus, good HR practices enhance performance of employees which in turn enhances organizational performance. Having the needed skills is not sufficient to ensure the organization maintains it competitive advantage but there is need for continuous training to upgrade the skills of the employees (Jiang et al., 2011). Apart from regular training of the employees, the organization needs to have a compensation package that will attract and maintain...
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...for one-year training. Mr. Sharma has been performed very well. The Department Manager and the Training Manager were satisfied with his performance in the first two quarters. However, when stepping in to the third quarter, Mr. Sharma raised an issue about curtailing his training period. The request has not be entertained and Mr. Sharma's behavior started to change and became unacceptable. Counseling session and warning letter have been issued to him and the situation did not turn good. One of the primary objectives of the Training Department is to recruit who have good potential and train them to be effective persons in different department. The Training Manager clearly known that Mr. Sharma is a potential trainee but he failed to train him in different department and caused Mr. Sharma only have one choice of department to stay which is the Paint Application Department. The Training Manager have to struggle on his rational decision whether to terminate or not to terminate Mr. Sharma. There are five issues discussed in this report. These five issues are the main causes to the problem that the Training Manage has to decide whether he should terminate Mr. Sharma or not. The five issues are communication, employees behavior, compensation and benefit, company policy, training and development. Moreover, we also discussed five options to the Training Manager other than termination of Mr. Sharma. These five options are apply employee engagement program, training and coaching system...
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...Chapter 6 Selecting and Hiring Salespeople In this chapter, we found that employers have no choice about hiring people. What they can do is they can choose the method they use to selecting the employees. In previous chapter which is chapter 15, we already discussed on the process by which we determine the number and type of sales people needed, and also how to recruit applicants. In this chapter we are in the third phase which is selection. This phase involved of developing a system of tools and procedures for matching the applicants with the predetermined requirements and actually using this system to select the salespeople. There are some major tools in the selection, they are application blanks, personal interviews, psychological tests, references and credit reports and the last tool is assessment centers. This chapter also discuss about the fourth phase of staffing process which is hiring and also the final phase, which is assimilating new hires into the company. The figure below shows the tools on selecting salespeople. In this chapter, the processing applicants are a key activity in implementing a company’s strategy planning. When using the any of the selecting tools, manager has to make certain that it is complying with all pertinent laws and regulatory guidelines. The application blank and the personal interview are the two most widely used selection tools. A short application blank may be used as an initial screening device. A longer application blank is a primary...
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...turnover rate decreases the company’s efficiency and carries a high price tag. All of the company funds spent on employee’s training are lost when the employee resigns. Moreover, further spending is generated in order to advertise the vacancy and training for new employees. The purpose of this document is to present new methods on retaining employees to help the company alleviate the cost attributed to high turnover rates. This report introduces new programs that present opportunities to lower high employee turnover rate and therefore helps the company cut down overspending from job advertisements and employee training. The document will present how positive orientation programs, competitive compensation packages, job specific training including leadership training will contribute to lowering the employee turnover rate. Thank you for the opportunity for allowing me to be part of this program and I look forward to our company succeeding from these programs. Sincerely, Jose Baca VP Human Resources Contents List of Illustrations …………………………………………………………… 4 Executive Summary ………………………………………………………….. 5 Introduction …………………………………………………………………... 6 Project Description …………………………………………………………… 7 Proposal Scope ………………………………………………………………... 7 Impact of Positive Orientation ………………………………………………. 8 Types of Compensation Packages …………………………………………… 8 Job Training ………………………………………………………………….. 9 Conclusion ……………………………………………………………………. 10 Recommendations …………………………………………………………… 10...
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...Impact of Investment in Human Resource Training and Development on Employee Effectiveness in Nigerian Banks Khadijat Adenola Yahaya (Mrs. ) Department of Accounting and Finance, University of Ilorin Abstract The success of any organization depends on the ability of its human resource to utilize other resources such as capital, equipment and land for the achievement of organizational objectives. Human resource thus requires the necess ary attention in order t o achieve corporate objectives. This paper investigates the impact of investment in h uman resource training and development on employees' e ffectiveness in N igerian banks. Descriptive survey research was adopted for the study. A quantitative measure published by the Institute of Intellectual Capital Research and approved by the Saratoga Institute database was used (o assess human resource effectiveness in three randomly s elected banks. Also, an instrument titled Assessment of Trai ning and Development Activities Scale (ATDAS) was administered to one hundred and twenty -five randomly selected employees of the selected banks in Ilorin metropolis, Kwara State, Nigeria. Relevant data was obtained from the three selected banks ' audited f inancial accounts for a period of five years (2001 -2005). The collected data was analyzed using descriptive a nd inferential statistics. The results showed that Zenith Bank had the best Human R esource M anagement and A ccounting practice p erformed best . T he study also ...
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...personnel needs, recruiting the right people for the job, orienting and training, managing wages and salaries, providing benefits and incentives, evaluating performance, resolving disputes, and communicating with all employees at all levels.” It is a function within a business that manages the human capital element and all that it encompasses. It functions as a business unit that deals with all the aspects of employees. The Role of a HRM in a Company The role of Human Resource Manager, HRM, within a company can vary depending on the needs and the size of the business. In a general capacity, a HRM oversees day-to-day operations of all Human Resource functions. These functions include such things as: compensation, staffing, planning, developing, training, and associate relations. The HRM helps to create and instill a corporate culture as designed by the company’s mission or vision. The HRM is responsible for hiring employees. By hiring select talent with certain skills, the HRM will be able to train and develop the employees to carry out the company’s mission. Developing and training associates, in accordance within the company’s expectations, a business can truly benefit greatly. It can help to increase profit and morale. The HRM is also responsible for handling employee compensation. A HRM should fully understand the compensation plan and benefits so that they can explain it to potential employees. Compensation and benefits can help attract and retain talent associates....
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...personnel needs, recruiting the right people for the job, orienting and training, managing wages and salaries, providing benefits and incentives, evaluating performance, resolving disputes, and communicating with all employees at all levels.” It is a function within a business that manages the human capital element and all that it encompasses. It functions as a business unit that deals with all the aspects of employees. The Role of a HRM in a Company The role of Human Resource Manager, HRM, within a company can vary depending on the needs and the size of the business. In a general capacity, a HRM oversees day-to-day operations of all Human Resource functions. These functions include such things as: compensation, staffing, planning, developing, training, and associate relations. The HRM helps to create and instill a corporate culture as designed by the company’s mission or vision. The HRM is responsible for hiring employees. By hiring select talent with certain skills, the HRM will be able to train and develop the employees to carry out the company’s mission. Developing and training associates, in accordance within the company’s expectations, a business can truly benefit greatly. It can help to increase profit and morale. The HRM is also responsible for handling employee compensation. A HRM should fully understand the compensation plan and benefits so that they can explain it to potential employees. Compensation and benefits can...
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...Muhammed Mughni Atique B.sc (Hons), Business Administration Gift University Gujranwala IMPACT OF HUMAN RESOURCE PRACTICES ONORGANIZATIONAL PERFORMANCE: A STUDY OF BANKING SECTOR OF GUJRANWALA Keywords: Organizational Performance, Employee Satisfaction, Recruitment &Selection, Training & Development, Performance Appraisal and Compensation Abstract: The purpose of this study is to evaluate HRM practices and their impact on organizational performance in banking sector. People believe that HR is not important it’s just a sunk cost and have no significant positive effect on org. performance. The aim of this study was to check the impact between Human resource management and organizational performance. The research was conducted in banking sector of Gujranwala .We have evaluated the impact of functions of HR like Selection, Training, Appraisal and Compensation (as Independent Variables) on Organizational Performance (Dependent Variables). We have done research with the help of questionnaires. The conclusion and results are presented at the end of this paper. The analysis showed the positive relation between the dependent and independent variables. Introduction: Our financial sector evolved very differently from banks in the developed world. For nearly a year after partition, Pakistan had no central bank. Habib Bank – established in 1941 – filled this gap initially, until the State Bank of Pakistan (SBP) was set up in 1948 under quasi-government ownership. Commercial...
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...|HR Metrics | |Absence Rate |[(# days absent in month) |Measures absenteeism. Determine if your company has an | | |÷ |absenteeism problem. Analyze why and how to address issue. | | |(Ave. # of employees during mo.) x (# of |Analyze further for effectiveness of attendance policy and | | |workdays)] |effectiveness of management in applying policy. | | |x 100 | | |Cost per Hire |(Advertising + Agency Fees + Employee |Costs involved with a new hire. Use EMA/Cost per Hire Staffing | | |Referrals + Travel cost of applicants and |Metrics Survey as a benchmark for your organization which is | | |staff + Relocation costs + Recruiter pay |available on the SHRM.org Web site. Cost per Hire can be used as| | |and benefits) |a measurement to show any substantial improvements to savings in | | |÷ |recruitment/retention costs. Determine what your recruiting | | |Number...
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...Career Development Plan Summary Nicholas P. Szydlek Jr. University of Phoenix HRM 531 August 31, 2010 Amona Blackwell Career Development Plan Summary InterClean and EnviroTech are in a unique position to become industry leaders in the cleaning and health care cleaning industry. The merger of these two leaders provides for the opportunity to offer new solutions based services to its current and future clients. For this merger to be successful and generate the most benefit for the company, the human resources department (HR) has been tasked with creating a new career development plan. This plan is multi faceted and includes job analysis and selection, employee training, performance and career management and employee compensation. As sales and customer service are the customer’s first and continual contacts, HR has focused on this newly merged department to be both test subjects and provide feedback. Job Analysis, Job Description and Specification Combining two individual companies into one industry powerhouse has created the need to evaluate the jobs performed by employees of both companies and develop new job descriptions that will maximize success. This evaluation process is known as job analysis. Anthony, et al. (2002) and Dessler (2003), as quoted by Safdar, Waheed and Rafiq (2010) states “With increasing recognition of the HR-performance linkage, it has been suggested that organizations that actively pursue job analysis as a Human Resources Planning (HRP) strategy...
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...Salary Compensation and Benefit Submitted to: Miss Bilqees Presented by: Syed Taha Ali Shah Rizwan Ahmed Hashmi Danish Basheer Sahito Shaikh Basit Sohail Ayesha Iqbal Table of contents: Introduction……………………………………………………………………………………………………………………………..3 What type of business do you have?……………………………………………………..…………………………………4 Does your company have a bonus or incentive plan? ………………………………………………………………4 What is procedure of bonus? …………………………………………………………………………………………………..4 Maximum number of vacation days which you offer? .................................................................4 Do you have a specific time period when employees must take their vacation? ………………………5 Do employees accumulate vacation time from year to year? ......................................................5 What is the number of Paid Holidays offered by your company in a year? ……………………………….5 Do you provide funeral or bereavement leave? ……………………………………………………………………….5 What is the average working Duration/Hour of an employee? ...................................................6 Do you agree that the shift system is convenient than adopting a fixed timing to work? …………6 Do you provide documented job description to your employees? ……………………………………………6 Which type of compensation payment system do you prefer? …………………………………………………6 What is your organization's compensation policy? ......................................................................6 Do...
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...resource management (HRM) is the management of an organization's workforce. The concept HRM can understand that employees are resources of the firm. As a type of resource, human capital described in terms of their training, experience, judgment, knowledge and relationships of the employee characteristics that can help organization to get a great performance. In terms of business strategy, a company can succeed if it has a sustainable competitive advantage and human resources (HR) have necessary qualities to give organizations this advantage such as be valuable (provide high quality employees to perform many critical functions), be rare (looking for a talented and experience manager or technician), cannot be imitated (recruiting people who can do precisely the same thing and set up the systems that enable people to imitate your competitor),and not good substitutes ( cannot match committed and talented employees who are well trained and highly motivated.). Therefore, managing human resources effectively has become an essential element to the success of organization. There are several important HRM practices that should support the organization’s business strategy: analysis and design of work, HR planning, recruiting, selection, training and development, compensation, performance management, and employee relations. An organization has great performs when all of these practices are managed well. Google is the best company to work for in 2012 with two million candidates applying...
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...practices and their relationship with organizational success which are personnel selection, performance appraisal, incentive compensation, job design, grievance procedures, information sharing, attitude assessment, labor-management participation, recruitment efforts, employee training and promotion criteria. These eleven HR practice in very important to achieve organizational success and these practices have positive relationship with organizational success. Methodology: The questionnaire was based on questionnaire for measuring impact of various HR practices on employee performance and as well as organizational success. The reason for selecting this questionnaire is that it was used to study the impact of same variables as in present study and was well tested on reliability and validity scales this questionnaire was also correction by our teacher. Questionnaire that was administered consisted of 16 questions and these questions are included Compensation Practices, Promotion Practices Performance Evaluation Practices and Perceived Employee Performance and so on. To complete this term paper we use primary data. Literature Review: Human resources management includes a variety of activities , and among them is deciding what staffing needs in banking sector and whether to use independent contractors or hire employees to fill these needs , recruiting and training the best employees , ensuring they are high performers , dealing with...
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...Reducing Workers Compensation Claims According to an essay published online by CCH Incorporated, the first step in reducing workers’ compensation costs involves ensuring that your company has effective safety and accident prevention programs in place to reduce the amount and severity of workplace illnesses and injuries. In addition to those programs, there are policies and procedures that should be implemented to help supervisors and Human Resources professionals in handling workers’ compensation claims in the most expedient manner possible. Having an active safety program has a number of benefits. Some are obvious. Others are not. A safety program gives employees a sense that their employer cares about them. Issuing personal protective equipment should be part of the safety program as should periodic inspection and replacement of worn or damaged safety equipment. Rotating work schedules or job duties can reduce repetitive-stress injury problems. An additional benefit is that doing so keeps workers more interested in their work and more focused on the job they are doing which also tends to reduce injuries. A mandatory safety training program also lets your employees know that any work related injury is bad for them and bad for the company. All employees should participate in safety activities including those workers in administrative positions or performing office work. Ideally, the message employers want to deliver is that everyone has a vested interest in minimizing these...
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