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You are the plant manager. You have recently implemented a bonus system for your employees that provide a 10% bonus for favorable variances. What are the potential benefits, costs, and ethical concerns of such a bonus system? Solution Solution: Potential benefits, costs and ethical concerns of Bonus System of 10 % for Favourable Variances Potential benefits - The potential benefit can be the increased efficiency of employees, as they would feel motivated for gaining extra wages for the same work done or favorable variance. They will try to improve their efficiency, as bonus system will act as a financial motivator for the employees. This is ultimately, cause benefit to the organization, in terms of better production or say improved efficiency of the employees, which will act as the POTENTIAL BENEFIT to the organization. Potential Cost - The Potential Cost to the organization will be, the extra payment to the employees for the same work done, for which before the bonus system no extra payments were made. Those extra payments will be treated as POTENTIAL COSTS of the Bonus System. Ethical Concerns - The ethical concern can be, that the bonus systems are short term benefits, but organizations should think about long term benefits. If the organization is adopting such bonus system, it should make sure that long tems benifits should be met also. .

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Running Head: PAID TIME OFFS 1 PAID TIME OFFS 9 Paid Time off (PTO) Policies Jesse Heineken Human Resource Management & Talent Development September 4, 2013 Jesse, take the a moment and review the comments and markups and instructions for this assignment. Your work is below with a breakdown of your points. Dr. Dale As the HR Director, respond to the following issues: · Identify any additional information you would need to recommend a solution, and explain where you would likely find that information. · Discuss any issues you would likely encounter if you were to merge the PTO system to a traditional leave system. Explain which issues would be difficult to solve and why. · Explain any problems you see with leaving the two systems in place, and identify which system would be assigned for new employees. · Make a recommendation for one common PTO system. Explain your system and why you think this system is the best system for the company. Assignment 2: Case study—Paid Time Off (PTO) Policies PTO policies have become good tools for HR staff to use in terms of organizational incentives. Use the Argosy University online library and your textbooks to read about PTO policies. Now, let us go back to Company A and Company B from Module 1. While reviewing the information from the two merged companies, the HR Director has found out that each company has two different PTO policies. Company A has a PTO system in which employees are given 30 days of paid time off each year, which accumulates at the rate of 2.5 days a month. Under this policy, vacation and sick leave are all rolled into one paid leave and any absence whether scheduled, such as vacation, or unscheduled, such as sick leave, are taken from the accumulated leave the employee has earned. Company B has a more traditional leave system in which employees are given 12 days of vacation, 10 days of sick leave and 10 holidays. The company is closed on those holidays. Vacation is accumulated at a day per month. Sick leave has an unlimited accumulation, but unlike vacation would not be paid out upon termination of employment. Since the employees of the merged company will be working side by side, the HR Director has asked you to review the situation and make recommendations for a solution. Instructions: As the HR Director, respond to the following issues: · Identify any additional information you would need to recommend a solution, and explain where you would likely find that information. · Discuss any issues you would likely encounter if you were to merge the PTO system to a traditional leave system. Explain which issues would be difficult to solve and why. · Explain any problems you see with leaving the two systems in place, and identify which system would be assigned for.

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Prof Maria Kraimer Managing Rewards Systems Spring 2021 Week 11 Incentive Pay (Chapter 4) Activities for Week 11 Watch “Chapter 4B” video Watch Lincoln Electric video (see Discussion Forum or Homework Assignment document) Complete the Discussion Forum “Lincoln Electric” by 6:00pm EST, Friday, April 2 Post a reply by 6:00pm, Saturday, April 3 Complete Homework Assignment (Lincoln Electric) by 11:59pm EST, Sunday, April 4 NOTE: Although both the Forum and Homework are based on the LE video, you have different questions to answer across the two assignments. Key Objectives for Chapter 4 Understand how Incentive Pay differs from Base pay and why companies adopt Incentive Pay Know the different types of incentive pay plans: individual, group, and company-wide Know the advantages and disadvantages of individual, group, and company-wide incentive plans. Know the theories that underlie effective incentive plans Know common problems with designing incentive pay systems 3 2.Types of Incentive Plans 4 4 Individual-based Piecework or standard hourly plans Management incentive plans (MBO) Group-based Organization-wide Profit-sharing plans Stock plans (ESOPs and stock options) Team- or unit-based bonuses Bonuses (referrals, spot, signing) Gainsharing plans Sales commission Behavioral encouragement plans Which type of plan? ANSWERS A salesperson gets paid 20% of the total dollar amount she sells to customers each month (Sales ommission) A manager is paid a cash bonus at the end of the year because the company met their profit goals (Profit-sharing plan) A call center worker receives a bonus of $100 each month that he has perfect attendance (Behavioral encouragement plan) Members of a new product team will each receive a $500 bonus if the new product is launched by November 1 (team bonus) John recommended Jane for the open position in his department; after Jane was hired, John received $100 gift card (Referral bonus) All employees that work for Pioneer Co-op are given stock options in the company’s stock after one year of service (ESOP) 4. Theories that can explain how and why incentive pay can motivate employees 6 Goal-setting theory Agency theory Expectancy theory Goal-Setting Theory: Goals improve performance through four specific motivational processes 7 SMART Goals (with feedback and employee involvement)… 7 SMART goals = Specific, Measurable, Achievable, Relevant, and Time-bound WHAT TYPES OF INCENTIVE PLANS ARE BASED ON GOAL-SETTING? Bonuses, commissions, and piece-rates Focus attention away from other activities toward the desired behavior. Get people energized and excited about accomplishing something worthwhile. Help people work on tasks longer when they have specific goals. Encourage the discovery and use of knowledge. Piece-rates, commission, and performance-based bonuses require SMART goals The set of specific goals should reflect all important jo ...

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