Compensation and Incentives flowchart,(L),by Tamer Moustafa
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The document discusses compensation and motivation in the workplace. It defines compensation as the total package of pay and benefits received by an employee in exchange for their work. Compensation includes salaries, bonuses, healthcare, and other benefits. Motivation is creating interest in an employee's work and can come from attention, transparency, career growth opportunities, training, fair pay, work-life balance, and recognition. The document also lists factors that influence compensation, both internal to the organization and external, and how increased compensation relates to motivation, though motivation depends on other factors as well, such as achievement and responsibility.
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For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/SlideShareEffectHR
Join us on Facebook: http://www.facebook.com/welearnindia
Follow us on Twitter: https://twitter.com/WeLearnIndia
Read our latest blog at: http://welearnindia.wordpress.com
Subscribe to our Slideshare Channel: http://www.slideshare.net/welingkarDLPEmployee Referrals
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Compensation is the most important factor of motivation to every employee. This lecture will describe the meaning and objective of compensation.
Behavior and influence
This document discusses motivation in the workplace. It defines motivation and explains that it is necessary for job performance. Several theories of motivation are described, including content theories like Maslow's hierarchy of needs and process theories like expectancy theory. The document then outlines four methods for motivating employees: job design, organizational behavior modification, recognition and pride, and financial incentives. Job design approaches like job enrichment and the job characteristics model are explained. Different types of financial incentives are also defined, such as time rates, payment by results, and profit-related pay.
main project ay short notes
The document discusses attrition analysis and employee retention. It defines attrition as a reduction in employees due to retirement, resignation or death. There are two primary types of attrition - voluntary initiated by employees, and involuntary initiated by the organization. Reasons for attrition include dissatisfaction, better opportunities, economic factors, and life changes. Employee retention aims to encourage employees to remain with an organization for as long as possible through attractive compensation, a supportive environment that fosters growth, good relationships, and support. Retention strategies include identifying turnover costs, understanding why employees leave, and implementing programs focused on compensation, environment, growth opportunities, relationships and support.
whole project annu.docx
The document discusses quality of work life (QWL) and its importance for employee and organizational effectiveness. It defines QWL as the level of satisfaction, motivation and commitment experienced by employees in their work. QWL aims to develop excellent jobs and working conditions for both employees and the organization. It involves factors like occupational health, suitable working hours, appropriate salary, job satisfaction, pay, work-life balance and motivation. The document also provides an overview of Max Life Insurance, including its objectives, research methodology used, data analysis and interpretation of survey results regarding employees' satisfaction with various aspects like work environment, facilities, security, remuneration etc.
Deependra summer internship report
This document is a summer internship project report submitted by Deependra Singh for their MBA program. It discusses employees' behavior toward compensation management and benefits at XYZ Private Limited. The report includes an introduction to compensation and its relevance. It also provides an overview of the company, including its products, organization structure, promoters, and industry position. The objectives and methodology of the research are outlined. Data analysis includes reliability statistics, factor analysis, and descriptive statistics. The conclusion discusses the findings, provides a SWOT analysis, and notes limitations.
Pay for performance- the evidence
This ppt will be helpful for HR students in C & B for referring ch-9 Pay for performance : The evidence from Milkovich.
The plans for pay for performance hasnt been uploaded.
This topic isn't available easily on google.
4.thesis.ppt
This document provides an outline for a bachelor's thesis on examining the impact of financial incentives on employee performance at Kabul University in Afghanistan. The thesis will include an introduction outlining the topic and importance of studying employee performance and financial incentives. It will also include sections on the problem statement and research objectives, defining key terms, a literature review on relevant theories and prior studies, the methodology used including research design, data collection and sampling, findings, a discussion and conclusions section, and references. The methodology involves a questionnaire distributed to a random sample of the university's 700 employees to collect primary data on the impact of financial incentives on their performance.
Compensation management
This document discusses different types of compensation including:
1. Skill based pay which pays employees based on their competencies and skills rather than job title.
2. Incentives which provide financial rewards for exceeding predetermined productivity standards. Common incentive schemes are individual and group incentives.
3. Fringe benefits which are non-financial benefits provided in addition to direct pay like healthcare, pensions, and paid time off. They help improve employee morale and retention.
Total rewards
The document discusses strategic reward systems for employees. It states that effective reward systems address compensation, benefits, recognition, and appreciation, and are aligned with business strategies and goals. It emphasizes that reward systems should recognize both performance and behaviors. Performance is easier to address through goals and incentives, while rewarding specific behaviors requires identifying the behaviors important to the company. An effective strategic reward system considers all elements, drives the right behaviors and goals, and does not neglect recognition and appreciation.
Motivation unit 3
This document provides an overview of motivation. It defines motivation as a process that begins with a need and drives goal-directed behavior. Motivation can be intrinsic, coming from within an individual, or extrinsic, coming from outside rewards or punishments. Several theories of motivation are discussed, including Maslow's hierarchy of needs which posits that people are motivated to fulfill physiological, safety, social, esteem, and self-actualization needs in that order. Financial and non-financial motivational factors for employees are examined, including pay, benefits, recognition, and career growth opportunities. The importance and objectives of motivation in the workplace are also covered.
Assignment4 compensation & incentives flowchart
This document presents a flowchart analyzing compensation and incentives in organizations. It shows that compensation packages are influenced by internal factors like employee performance and external factors like market salaries. The flowchart illustrates the process an organization goes through to evaluate jobs, develop compensation packages, and implement strategies. It also notes that compensation aims to attract, motivate, and retain top talent through financial and non-financial rewards. Compensation packages contain both extrinsic motivators like salary as well as intrinsic motivators like a sense of achievement. When implemented properly, compensation can help organizations grow by improving employee motivation and morale.
HRM_7th week
This document provides an introduction and overview of compensation and motivation in human resource management. It defines compensation and its various types, discusses factors that determine an employee's compensation like performance, seniority, experience and membership. It also covers executive compensation, the roles of line managers and HR in compensation, pay-for-performance plans and reasons they may fail. Additionally, it defines motivation, discusses the motivation process and various methods to motivate employees like rewards, job design, recognition and goal setting. Lastly, it outlines some challenges to motivating a diverse workforce.
Compensation and performance management
This document discusses compensation and performance management in organizations. It covers topics like the objectives of compensation, forms of pay including wages, salaries, incentives, benefits and services. It discusses factors that influence compensation and the views of different stakeholders like employees, managers, society and stockholders. It also covers principles of effective incentive schemes and prerequisites for payment systems. Overall, the document provides an overview of compensation practices and their role in motivating employees.
Managing human capital
This document discusses managing human capital through merit pay plans. It provides background on performance appraisal and compensation programs before examining arguments for and against merit pay. The document outlines examples of merit pay plans in practice and their successes and failures. Guidelines are presented for establishing successful merit pay plans, recognizing that individual and organizational factors must be considered. While merit pay can motivate performance, proper implementation and performance evaluation are necessary.
Managing human capital
This document discusses managing human capital through merit pay plans. It provides background on performance appraisal and compensation programs before examining arguments for and against merit pay. The document outlines examples of merit pay plans in practice and their successes and failures. Guidelines are presented for establishing successful merit pay plans, recognizing that individual and organizational factors must be considered. While merit pay can motivate performance, proper implementation and performance evaluation are necessary.
Chapter 11 and 12 to send
The document discusses performance measurement and compensation management. It covers several key points:
1. Companies should use a balanced scorecard approach and multiple measures to avoid short-term thinking. Measures should reflect strategy, show cause-and-effect relationships, and provide a broad view of performance.
2. Compensation should be linked to measures and strategy to motivate employee behavior that benefits long-term success. Both financial and non-financial measures are important.
3. Regular review of measures and results is needed to ensure alignment with evolving strategy and identify areas for improvement. Interactive controls also help organizations adapt strategy based on new information.
Goal setting and motivation
This document discusses goals and goal setting theory in organizations. It covers:
1. The two main purposes of goals - to provide a framework for managing motivation and as an effective control device for management.
2. Key aspects of goal setting theory including goal difficulty, specificity, acceptance, and commitment and how these attributes shape performance.
3. Management by Objectives (MBO) as a collaborative goal setting process where goals cascade down the organization.
4. Research has found goal difficulty and specificity are closely associated with performance, though other elements like acceptance and commitment have been less studied.
Mu0015
The document discusses compensation management and compensation dimensions. It defines compensation management as attracting and retaining talent through competitive remuneration packages. Compensation includes both monetary pay as well as non-monetary benefits. It classifies compensation dimensions into payment for work, payment for non-working days, income continuation benefits during job loss, disability, retirement, and for spouse/family. It also includes health, accident and liability protection as well as income equivalent payments or perks. The document emphasizes the importance of compensation for motivating employees and increasing organizational effectiveness.
Recognizing employees contribution with pay
This document discusses how organizations can recognize employee contributions through pay programs. It begins by outlining learning objectives about compensation theory and pay programs. It then summarizes three theories that explain how pay influences individuals: reinforcement theory, expectancy theory, and agency theory. The document also describes different types of pay programs like merit pay, incentive pay, and profit sharing. It emphasizes that an effective approach combines multiple programs in a balanced scorecard. Process issues like communication are also important when managing compensation. Overall, an organization's pay strategy should be carefully matched to its overall business strategy.
Recognizing employees contribution with pay
This document discusses how organizations can recognize employee contributions through various pay programs. It begins by outlining learning objectives around compensation theory and pay programs. It then summarizes three theories that explain how pay influences individuals: reinforcement theory, expectancy theory, and agency theory. The document also describes different types of pay programs like merit pay, incentive pay, and profit sharing. It emphasizes that an effective approach combines multiple programs in a balanced scorecard. Process issues like communication are also important when managing compensation. Overall pay strategies should be carefully matched to an organization's overall business strategy.
Similar to Compensation and Incentives flowchart,(L),by Tamer Moustafa (20)
Introduction to compensation meaning and objectives
Introduction to compensation meaning and objectives
Assignment4 compensation & incentives flowchart
Assignment4 compensation & incentives flowchart
Compensation and Incentives flowchart,(L),by Tamer Moustafa
- 1. Compensation and Incentives flowchart By : Tamer Moustafa Date:01/12/2015
- 2. Compensation and Motivation Compensation is a wide concept and it is defined as the total package in cash or any kind that is paid by an enterprise to an employee in return to the work done by the latter for a certain period of time. It may include: 1-Salaries or wages. 2-Cash allowance. 3-Overtime pay. 4-Bonuses. 5-Healthcare plan. 6-Vehicles or others that are provided for the personal use of the employee. 7-Paid time off and various other types of compensation. Motivation is creating the interest in doing a certain Job and this may be through: 1-Attention to each individual and assigning responsibilities. 2-Transparency. 3- A defined career path and growth. 4-Training and development programs. 5-Fair pay and a good job match. 6-Encouraging work/life balance. 7-The Use of team rewards. 8-Rewarding high performance . 9-Recognition .
- 3. Factors affecting compensation and compensation effect on Motivation Compensation Motivation Internal factors(direct) that affect compensation 1-The ability of the organization to pay. 2-Employee performance, seniority and potential. 3-Organisation strategy. 4-Position of the company in the business cycle. 5-Equity considerations. 6-Good job analysis and job evaluation. 7-Productivity of workers. External(indirect) factors that affect compensation 1-Laws and regulation. 2-Labor market. 3-Economy. 4-Inflation. 5-Demand and supply of labor. 6-Union pressure. 7-Cost of living. The increase in compensation will lead to increased motivation but it is to be noted that motivation doesn't t depend solely on compensation. Factors affecting the level of motivation: 1-Achievement 2-Recognition 3- Work itself 4-Responsibility 5-Advancement 6-Growth Presence o f these factors positively affect motivation. Factors that will not increase motivation but there absence decreases motivation (hygiene factors) 1-Company policy. 2-Supervision . 3-Relationship with Boss . 4-Work conditions. 5-Salary. 6-Relationship with Peers.
- 4. References 1-MSG (n.d.) Compensation Management - Meaning and Important Concepts [Online] MSG. Available from : http://www.managementstudyguide.com/compensation-management.htm [Accessed 01/12/2015] 2-WIKIPEDIA (2010) Compensation of employees [Online] Wikepedia.Org. Available from : https://en.wikipedia.org/wiki/Compensation_of_employees [Accessed 01/12/2015] 3- LAWYERMENT.COM (2011) What is Motivation? What are the Concepts of Motivation? [Online] Lawyerment.Com Available from : http://www.lawyerment.com/library/articles/Self_Improvement/Motivation/317.htm [Accessed 01/12/2015] 4- WIKIHOW.COM (n.d.) How to Motivate Your Employees [Online] Wikihow.com Available from : http://www.wikihow.com/Motivate-Your-Employees [Accessed 01/12/2015] 5-WHAT IS HUMAN RESOURCE.COM (n.d.) Factors Influencing Employee Compensation [Online] What is human resource .Com Available from : http://www.whatishumanresource.com/factors-influencing-employee-compensation [Accessed 01/12/2015] 6- MSG (n.d.) Factors affecting compensation-part 1 [Online] MSG Available from : http://www.managementstudyguide.com/factors-affecting- compensation.htm [Accessed 01/12/2015] 7-ACCOUNTING-MANAGEMENT (n.d.) Factors affecting compensation system.[Online] Accountlearning.Blogspot. Available from : http://accountlearning.blogspot.com.eg/2013/03/factors-affecting-compensation-system.html [Accessed 01/12/2015] 8- ARAB BRITISH ACADEMY FOR HIGHER EDUCATION (n.d.) Herzberg's Motivation-Hygiene Theory (Two Factor Theory) [Online] Abahe.Co.Uk Available from : http://www.abahe.co.uk/Free-En-Resources/Theories-of-Management/Herzberg-Motivation-Hygiene-Theory.pdf [Accessed 01/12/2015]