Internal and External Equity Comparison Internal and External Equity Comparison Total compensation is be defined as the rewards, which employees receive for their labor. A well designed compensation package will attract skilled employees, reduce turnover, and increase employee productivity. Two factors that affect a compensation plan is internal and external equity. “Internal alignment, often called internal equity, refers to the pay relationships among different jobs/skills/competencies within a single organization. The relationship forms a pay structure that should support the organization strategy, support the workflow, be fair to employees, and motivate behavior toward organization objectives” (Milkovich & Newman, 2009, para.
Motivation Plan Deborah S. Glispie LDR/531 6/09/2014 Brandon Johnson Motivation Plan Motivation is a key factor necessary to maximize team productivity and efficiency. The success of a motivated team is dependent on how well individual team members are motivated and the blending of their personalities. The application of each team members DISC assessment provides management with reliable data that is necessary for creating, developing, and motivating a team. The DISC assessment evaluation of each member of Team B provides a structured platform to develop a motivational plan that will meet the demands necessary to manage different personality styles in the work environment. The motivation plan is specifically designed for the Employment Verification Division (EVD).
The rewards granted, by the advancement of this position are lucrative and professionally enhancing in a career. It is my opinion that the rewards associated with this position are effective as there are many people waiting for a position to opening. Employees in this position seem to be motivated to progress toward higher levels and goals. In addition to the Independent Development Program, this position is entitled to enroll in the Independent Leadership Development program. Goals The main goal of this position is to place the organization under a microscope and define areas of improvement and productivity.
Job analysis can also contribute to the review of pay structures within a company. HR can estimate the correct salaries and benefits for a job after the job analysis has been done. The details collected by
A corporation’s culture is comparable to a person’s personality. The culture supplies direction, meaning, and is the basis for action. The way that personality persuades the action of a person, the shared values and beliefs among a company’s members persuades the actions and opinions within the corporation (Pearce & Robinson, 2004, p. 345). Wells Fargo’s new strategy will have a positive effect on the leadership and culture of the company and the stakeholders. Employees enjoy being allowed to take risks because it makes them feel and believe like their opinion matter.
“Transformational leaders are able to increase follower self-efficacy, giving the group a ‘can do’ spirit. Followers are more likely to pursue ambitious goals, agree on the strategic goals of the organization, and believe the goals they are pursuing are personally important” (Robbins & Judge, 2013, p. 384). By evaluating and comparing my characteristics with my admired leader, Janet Mock, “People working for charismatic leaders are motivated to exert extra effort and, because they like and respect their leader, express greater satisfaction” (Robbins & Judge, 2013, p. 381). Developing those additional leadership skills and advancing the characteristics I currently possess, will allow me the opportunity to expand my horizon. Conclusion Understanding and evaluating leadership styles and theories can allow an individual to assess his or her capabilities.
Motivation is what arouses someone's interest, directs their performance and sets the amount of energy that a person puts into achieving their goal. There are a number of factors which can affect motivation levels in the workplace such as: the relationships between co-workers; stress levels; recognition and praise; alignment of goals; and standards set. Recognition and praise from senior staff and management for the work an employee does demonstrates to the employee that they are appreciated. This can result in increased motivation to perform to high standards and a feeling of duty towards a company. A lack of recognition for good work can dramatically reduce motivation as staff feel undervalued and unappreciated, a person may work hard for an employer who does not appreciate them.
1. What Functions of HRM are similar to marketing functions? How can thinking about “marketing” a company’s jobs improve the strategy focus of human resources personnel? The functions of HRM that draw similarities to marketing functions are the aspects of identification, recruitment and having the where with all to be able to make great choices on perspective personnel. In order to correctly carry out these actions it takes being able to present these functions in a way that the consumers can grasp and have a strong urge to want to be a part of the company that is being presented.
* Effective Decision Making is vital to a team’s progress. Team members should be aware of various methods of decision making and when and how to use these methods. This will enable them to collect the information needed and understand and problems to enable them to make the right decision. * Balanced Participation to make sure that all members of the team are fully involved and actively contributing to discussions and meetings. By listening to everyone’s opinions they will feel a valued member of the team which will improve their wellbeing and job satisfaction.
Having employees positively motivated is a key aspect that managers strive to achieve. Not only does motivation create employees to desire to accomplish more, but it also encourages employees to be the best, as well as stimulates better interpersonal relationships. Social Psychology looks at the struggles some employees face with creating motivation, and attempts to discover how to explain the different types of motivation, as well as how employers can be advised to achieve a higher level of motivation from their employees. This essay will explore the different elements of motivation, and how it is achieved. Some of the more specific aspects being analyzed are Goal Setting Theory, empowerment, and Social Motivational Training as scrutinized by various researchers.