...Date: November 26, 2011 Utley Food Markets Pay-for-Performance System Changing to a pay-for-performance pay system always has several implications. The most important of these are discussed in the succeeding paragraphs. The first implication is determining what to reward. Management must first align overall strategy with projected business outcomes, and decide what type of performance will be measured, analyzed and considered in a pay for performance program. Key factors such as support from the management, establishing a valid and fair measuring system, along with a credible evaluation system and projecting effectiveness of the program in the long term are all needed in order for the plan to function properly. “When used properly, merit pay will reinforce the accomplishment of individual contributions that are in line with the identity, strategic plan, and objectives of the organization” (WorldatWork, pg. 313). The second implication is documenting performance standards. A pay for performance system must be constructed according to guidelines and frameworks which when evaluated define standards and characteristics relating to the program. The program needs a baseline, expectations of progress and a rating system that is a valid determinant of performance. In addition, performance standards must be documented consistently and fairly among all peers. Specific criteria such as what to measure, how to measure and who to measure must...
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...the left and the right side of the page. 4. Pages are to be numbered consecutively. 5. The assignment should be submitted with a cover sheet stating your: i. Company's Title & HR Function ii. Subject iii. Lecturer’s Name iv. Students' Name and Matric No v. Class/Program vi. Submission Date 6. Cover page of your report must be in yellow colour. SUBMISSION 1. A copy of all assignments should be kept to safeguard against loss. No excuse of losing the assignment or losing computer will be accepted. 2. Assignment should be proofread before submission. 3. Failure to submit by the due date would result in your marks to be awarded 0. UNIVERSITI TEKNOLOGI MARA HRM 533: INTRODUCTION TO HRM shibahisham/fpp/hrm533 REFERENCES 1. Your report MUST include citations from the sources....
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...Assignment 1 Name: (Your Name) For Dr. Larry Byrd HRM533 Date: (Today’s date) (Title) Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the succeeding paragraphs. The first of the top five advantages is (Complete the paragraph.) The second of the top five advantages is (Complete the paragraph.) The third of the top five advantages is (Complete the paragraph.) The fourth of the top five advantages is (Complete the paragraph.) The fifth of the top five advantages is (Complete the paragraph.) Total Rewards Strategy Gone Astray There are many ways a total rewards strategy can go astray. Five of the common ways are described in the succeeding paragraphs. The first way the strategy can go astray is (Complete the paragraph.) The second way the strategy can go astray is (Complete the paragraph.) The third way the strategy can go astray is (Complete the paragraph.) The fourth way the strategy can go astray is (Complete the paragraph.) The fifth way the strategy can go astray is (Complete the paragraph.) Steps in Designing a Total Rewards Program In the succeeding paragraphs, the six steps in designing a total rewards program are described. The first step is (Complete this paragraph.) The second step is (Complete this paragraph.) The third step...
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...Assignment #1 – Total Rewards HRM533 Total Rewards Describe each of the top five (5) advantages of a total rewards approach. 1. Self fulfillment that people are recognized for what they do and encouraged to reach their potential through effective learning and development processes and given feedback on their performance 2. Organization culture roles are clear and organizational and personal values are in alignment so that employees engage and enjoy work (as much as is possible) 3. Another way to consider the necessary components of rewarding people is to view them as individuals, within their team, in the organization and generally in the workplace:- 4. Recognition being appreciated, not taken for granted, having a voice 5. Organizational culture being able to engage and fit with the organization in terms of its values and how things are done Describe five (5) common ways a total rewards strategy can go astray. 1. Simply copying another organization’s reward practices can lead to disaster, 2. It would be harmful for either firm to adopt the reward practices of the other. 3. Not implanting an effective award strategy 4. No considering the employees communication strategy 5. Not following the strategy the way is was implemented Describe the six (6) steps in designing a total rewards program. 1. Set the total reward strategy. With the business context in mind, an organization can develop guiding principles...
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...Sales Force Compensation Adam Goode Dr. Ed Sherbert HRM533: Total Rewards November 4, 2012 Sales Force Compensation In order for a company to acquire the highest number of clients, that company must be able to fully motivate their employees. One of the primary factors to motivate the sales force is compensation. Employees that are in the sales force do want to get commissions for the sales that are made, but they do also want to get a base salary as well. A commission only structure can greatly motivate employees to make sales, yet if they only receive pay for making a sale, an employee might not feel that they need to come to work if they can’t rely on a sale that day. Base pay can make an employee want to choose that job because it can lead to job security (Motivating, 2011). A good mixture of both a base salary, as well as a commission structure will provide the best motivation for a sales person as far as compensation goes. Compensation is not the only thing to goes into motivating someone in the sales force though. Employees also want to gain recognition for results that they have achieved. Rewards don’t always have to be financial for every member, yet can still be a great motivator. Employees will probably work hard to get good results if they were to know those results could send them on some sort of trip, or even just to a nice event outside of the work place. Some...
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...Assignment 5 Name: (Your Name) For Dr. Larry Byrd HRM533 Date: (Today’s date) (Title) Innovations of Employee Benefits The succeeding paragraphs will explain how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. The first way is offer onsite day care facilities. The study suggests that on-site daycare is not only affordable; it is in many cases profitable. Further, the study found that a majority of workers would be willing to contribute to the cost of employer-sponsored daycare whether or not they used the benefit. "There are several kinds of employers who typically have on-site childcare, such as high-tech and healthcare industries, and others who need 24-hour workers, such as airline reservation companies," notes Connelly. "The few studies that have been done on on-site childcare focused on those companies with highly educated workforces. We were particularly interested in another group of companies - those who weren't offering daycare as part of a whole package of family-friendly benefits or because of a corporate philosophy, but rather because they had done an economic analysis of their particular set of workers and had decided that on-site childcare would be economically beneficial to their company." The second way is pet-friendly offices. Not all companies are created equal when it comes to the acceptance of dogs in the workplace. Some readily welcome your best friend while others...
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...Total Rewards Shaleena Brown Larry Byrd HRM533 October 23, 2011 Total Rewards can be defined in a few different ways, and depending on who is explaining it, can change each and every time. Total rewards refer to everything that employees value in the employment relationship. It is the monetary and nonmonetary return provided to employees in exchange for their time, talents, efforts and results (WorldatWork, pg. 4). This paper will focus on the advantages of a total rewards program and its’ approach. It will go over some of things that will push this program in the wrong direction, some steps of design, and lastly see the communication process that is needed to make sure it is successful. Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the succeeding paragraphs. The first of the top five advantages is the increased flexibility within the organization. Allowing employees the opportunity to choose, when they work and how they work offers a competitive advantage in the workforce today. The second of the top five advantages is improved recruitment and retention. Showing employees what the company will offer once hired, and how it will work for them as well, gives the people a sense of belonging The third of the top five advantages is reduced labor costs and the cost of turnover. This step can help maintain the turnover rate by designing...
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...Running Head: Consolidated Chicken Products 1 Consolidated Chicken Product Dr. Sheila Monjeau Letica HRM533-Talent Management December 11, 2010 Consolidated Chicken Products 2 Is there a reasonable basis for believing that the company is discriminating against women? If so, explain what it is and if not, explain why not. There is a reasonable belief that the company is discriminating against women. Sam the personnel director had great concerns about this situation and he wanted to deal with the problem. There were only thirty women that worked in the production department while the other women worked in the position of secretaries. Sam spoke with John, Sr. about the pay discrepancy for the women in both departments, but John’s comments to Sam seem to be of no concern that the women were getting less pay than the men who were working side by side doing the same job in production. John said, “ that the women weren’t concern about what they were making because they were satisfied with what they were being paid, because the unemployment rate was at 25%” (WorldatWork, 2007). John, Sr. considered this was a fair rate of pay for their jobs. Is there reason to believe that women could file an equal pay lawsuit? If so, explain the reason and if not, explain why not. There is reason that the women could and should file an equal...
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...Assignment 1 Name: Jolene Grof For Dr. Larry Byrd HRM533 Date: April 25, 2014 Geico Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the text. The following paragraphs discuss the facets of the Geico total rewards program that align with these advantages: The first facet is increased flexibility. Gieco offers full-time employees the option to choose their medical plan from a variety of plans. The company also has a dental plan that will pay out benefits to any dentist in the country. This provides employees with great flexibility in choosing the right dentist for their needs. The company not only has fitness centers at many locations but sometimes will offer employees discounted gym memberships at local establishments. This helps an employee choose a place that is comfortable (which could influence how often the person goes to the gym). The second facet is improved recruitment and retention. In providing some great benefits Geico hopes to find the right workers and ones that will stay with the company for the long haul. Employees are looking for balance when it comes to their work and life. This is one of the benefits of working for Geico. The company offers programs that can help employees juggle work and their outside of work lives and if employees are looking for this it is a great way to attract and keep...
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...US DEPARTMENT OF LABOR CASE STUDY Total Rewards HRM533 016 December 2,2012 The purpose of this paper is to provide information about the United States Department of Labor (DOL) website. This Website communicates the current regulations and federal involvement in employee benefit. This report describes the features of this website and how each feature can be used to monitor employee benefits. And specifically focusing on how the benefits comply with all federal laws. Moreover this report provides detailed information on how employees would use this information to their benefits rights is protected. This new web service was developed based on data collected by the Occupational Information Network and the National Labor Exchange. The Occupational Information Network collects information on the skills and job requirements for a wide variety of nearly 1000 occupations in the United States (Investopedia Ulc., 2012, para 2). The National Labor Exchange was created by the Direct Employers Association to deliver information on the job requirements from various American corporations. Describe the major features of this Website and how each feature can be used to monitor employee benefits. The major aspect of this website would be the content list and how it is classified. In this section, we review the types of features found to be useful in web page classification research. First of all, I think that the structure and design are very important to a website as it...
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...Geico: Total Rewards Program Leanna Wilcox Total Rewards- HRM533 Dr. David Fountaine April 26, 2014 ABSTRACT This paper will look at the Geico total rewards program to see which parts align with the top five advantages of the total rewards program outlined in the text, The WorldatWork handbook of compensation, benefits and total rewards. A strategy will then be created to ensure that the Geico plan addresses all of the advantages. Looking at the effectiveness of Geico’s communication of their total rewards program, we will make two recommendations for improvement. Finally, we will assume that the Geico employees are unhappy with the current plan, and will offer two changes to their total rewards program. Geico: total rewards program The top five advantages in a total rewards program as described in the text, The WorldatWork handbook for compensation, benefits and total rewards are as follows; increased flexibility, improved recruitment and retention, reduced labor costs/cost of turnover, heightened visibility in a tight labor market, and enhanced profitability (WorldatWork, 2007). Increased flexibility is becoming more important to employees and companies, employees want to determine when they work, where they work, and how they work. Total rewards recognizes that employees want, and in many instances demand, the ability to integrate their lifestyle and their work (WorldatWork, 2007). Geico total rewards aligns with increased flexibility in that they offer...
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...Total Rewards System Proposal Shawn Tillman Strayer University HRM533 Total Rewards Dr. Carla Henryhand February 19, 2012 Total Rewards System Proposal 2 Total Rewards System Proposal More and more companies are realizing they get better performance from engaged and connected employees. Many are rethinking their employee strategies. They are developing new ways to identify, engage and retain the right workforce to deliver the corporate growth agenda. The total rewards strategies these organizations are adopting reflect changes to the nature of work and employee expectations. Employers have recognized that employee engagement affects the bottom line. Where rewards programs needs to be changed, and employers are taking advantage of new technology to access better information to support HR decision making. Total rewards strategy is a plan for allocating reward resources in a manner that directs the business to the successful execution of the company objectives. There are three main factors involved in developing and managing a total rewards plan: 1. A thorough understanding of the total value of all of an organizations rewards elements. 2. Its stated market competitive objectives. 3. The strategic allocation and distribution of money, and the delivery of specific and deliberate expressions to employees about what a company values and their...
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...Total Rewards Systems Proposal Ivy Cuttino Strayer University Dr. Judie Bucholz Hrm533- Total Rewards February 10, 2012 Create a brief overview of the company requirements for a total rewards system. Build-A-House (Bah) is a home improvement company that provides products and services for all your home improvement needs. BAH provides a service that employs over 150,000 employees in four different countries including the United States, Australia, Canada and Mexico. The company is great at hiring diverse individual and also has a foreign language hotline for those who are shopping and do not speak the native language. This hotline will assist and interpret for the customers and associates in order to expedite their shopping and make it easy and less hassle. BAH believes in dedicated and loyal employees to make a difference in the service we provide to our customers. BAH believes that the employees are the heart of the company and to come up with a total rewards package that will not only help employees but will make money for the company. BAH will come up with a profitable total rewards strategy to ensure that the employees are being rewarded for all of their dedication and hard work. BAH will come up with a good recruitment strategy by obtaining the best of the best by being competitive and making sure there are standard practices. BAH will also make sure that there is a great coaching and mentoring program is in place to ensure personal growth and development for the...
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...Geico Ivy Cuttino Strayer University Dr. Judie Bucholz Hrm533- Total Rewards January 22, 2012 Geico Employees Insurance Company has been in existence since in 1936 and was founded by Leo and Lillian Goodwin. Geico was established to provide auto insurance for governmental employees in the entire United States. Geico was based on the idea the governmental employees were safer and more financially dependable then the general public. With this way of thinking Geico was able to cut out the middle man “agents” saving money the company money. So they were able to pass these saving onto the customers, employees, and advertising. Geico total rewards program aligns with the basic total rewards program that is Compensation, Benefits, Work-Life, Performance & Recognition, and Development & Career Opportunities. This set up was designed and implemented to mirror how the government was operating. The way Geico was structure it developed and promoted internally. They used this technique at Geico to develop well knowledgeable employees as well as maintaining a low employee turnover ratio. These principles help develop the company that people see today. Determine which facets of the Geico total rewards program align with the five (5) top advantages to a total rewards outlined in Chapter 2 of the textbook and discuss your reasoning. The first facet when reviewing Geico compensation scale and comparing it to its competitors. Geico salaries are competitive to...
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...(5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Your assignment must follow these formatting requirements: • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. Geico Case Study Assignment # 1 Your Name here University Name here Instructor Name here HRM533 Date Geico Employees Insurance Company has been in existence since in 1936 and was founded by Leo and Lillian Goodwin. Geico was established to provide auto insurance for governmental employees in the entire United States. Geico was based on the idea the governmental employees were safer and more financially dependable then the general public. With this way of thinking Geico was able to cut out the middle man “agents” saving money the company money. So they were...
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