The new Utley management would like to establish a deport-for- setance organization. What does this mean to the Utley management? In a traditional take over system employees are compensated for time worked, however, in the contribute for performance system compensation is generally given for achieving great(p) performance. The purpose of the conciliate for performance systems is to motivate employees to work in concert to reach common goals. Bonus money is the key share to motivate employees in the pay for performance systems. In a pay for performance compensation system, there are cardinal payment schedules. One is guaranteed basic pay given to everyone whos dependably, but minimally, accomplishes a set of defined tasks. The other pay schedule is incentive pay. This extra money is given tho to those who satisfy criteria presumed to identify performance that is in some charge better than minimal (Thompson 2005). The objective of the system is to encourage employees to perform above and beyond the normal capacity of the position description. An incentive bonus is contingent on certain departmental or company-wide goals are met in regards to quality, and production. Managements target of implementing the pay for performance system is to create a work halo of cohesive employees.
If the pay for performance system is administered properly police squad pride will exists among employees. The system allows management to distinguish transcendent groups of employees without allocating additional funds for compensation over the allowable limits of the incumbent year budget. Management at Utley should consider hiring a schoolmaster compensation consulting firm to assist in the implementation of the system.
compensation consultants are responsible for analyzing the companys businesss goals, budget, and work nigh with management to shape the direction of the program. A comparative depth psychology is conducted examining similar companys employee performance to pay system to discover...If you want to get a full essay, order it on our website: Ordercustompaper.com
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