Unfortunately, very few organizations recognize that their employees are the critical factor in their success or failure (Javad et al., 2010) and their happiness with the organization and their individual job tasks can make or break them. Today, smart organizations understand that a company’s compensation strategy increases the productivity and motivation of employees, directly impacts an employees desire to achieve organizational goals, and makes the organization more competitive in the marketplace – therefore increasing profits. Productivity and motivation of employees within an organization can be increased or decreased by the strategies the organization utilizes. Both monetary and non-monetary compensation strategies can impact employee motivation and productivity including, direct pay, fringe benefits, job training and development, employee job
Persuasive Paper Part 1: A Problem Exist Linda Aponte Strayer University Introduction Outsourcing is one of the most popular trends in present times as outsourcing helps companies to achieve higher levels of cost efficiency. A company that engages in any off shoring/outsourcing activities; - these activities may include production and information processing. Outsourcing helps a firm give out some portion of its work and ensure that it carries out only the main aspects of business thus focusing on the major aspects of work and value addition activities. Since there are foreign nations involved in case of outsourcing, the rules and regulations as well as the laws and legislations of each of the nations are severely different. Thesis Statement In case of companies outsourcing to nations without labor laws and union laws, it is quite possible that there is exploitation of workers and practices like child labor prevail.
Chapter 16, Question 5 Why is frictional unemployment important to have in any economy? Frictional unemployment is the sign of an economy’s strength and unemployment that is in a fast- paced economy with an expanding labor force. This unemployment is suitable to workers as it allows them to search for jobs that they want the most. It also benefits the company, because it allows them to obtain the best talent. Without frictional unemployment people remain in the same career for life Frictional unemployment is important in the economy because it matches the worker with supply and creates equilibrium in the labor market.
This perception has a direct effect on employees’ engagement and organizational citizenship behavior towards the goals of the company. Branch employees are not fully committed to the organization (OB, p. 108) therefore the turnover is very high. Contextual: * Recruitment policies: * Managers are hired mostly on “relationships of mutual favor”, and not based on managerial ability or integrity. * Long term personal goals for these people are mainly to flourish their relationships, because that increases their personal value in that market. The goals of the company do not fit managers’ personal goals.
I believe in people, but I also believe in structure and clearly outlined expectations. While I do believe that any successful organization is built on the people who work within it, a leader needs to be able to provide boundaries and task-oriented structure. For example, one of the questions that determined my P – or people – score was “I would turn the members loose on the job and let them go for it” (Daft, 2011). Though I do believe in empowering employees to be able to act independently, “turning members loose” seems to be a bit reckless. A leader who does that is not empowering their employees with the structure and tools necessary to be successful.
Bobby Jones believes that by making the managers part owners of the company, they will be motivated to provided better service. Incentive problems exist because of conflicts of interest between employers and employees (Brickley, Smith, & Zimmerman, 2009). Incentive problems occur because the costs of exerting effort are borne by employees, whereas the gains go to the employer. To resolve discontent between employees and employers, employers can sell each employee the rights to his or her total output. When employees own their output, both the benefits and costs of exerting effort are internalized by employees and will result in better productive choices by the employees.
Why you think PM its important? Answer: PM is planning and controlling project activities to ensure goals and objectives are achieved on time, to the desired quality and within budget. Some companies in a certain period the economic situation is very good, but the absence of strengthening project management, capital expense plan, prior to carrying out investment projects has not been fully demonstrated, and ultimately lead to project failure. Therefore, regardless of the economic efficiency of enterprises is good or bad, businesses of all sizes need to strengthen project management, if there is no project, we must try to find projects, through innovative thinking, through continuous market demand analysis, market development to discover new items. For the current project, we should manage to make each project to success, which is to enable enterprises to obtain the necessary way to sustainable development.
Assessing the equity of manufacturers’ brand names is more appropriate than measuring the equity of individual product brands as suggested by Keller. Secondly, the building blocks of Keller’s model appear useful in an organisational context, although differences in the subdimensions are required. Brand feelings appear to lack relevance in the industrial market investigated, and the pinnacle of Keller’s pyramid, resonance, needs serious modifications. Finally, company representatives play a role in building brand equity, indicating a need for this human element to be recognised in a B2B model. Introduction Powerful brands create meaningful images in the minds of consumers (Keller, 1993), with brand image and reputation enhancing differentiation and thus potentially having a positive influence on buying behaviour (Gordon, Calantone and di Benedetto, 1993; McEnally and de Chernatony, 1999).
Staying in place and business as usual are not optimal strategies. Unfortunately, much of what well-meaning business and professional people do to enhance the creativity of their teams actually does more harm than good. Well-meaning leaders hold key myths about creativity. These myths need to be debunked and replaced by practical ways to redesign team meetings to help teams reach their creative potential. Collaboration is the art and science of combining people’s talents, skills and knowledge to achieve a common goal.
For a business that struggles with collaboration morale, it can help incentivize group work. For a company that strives to combat an individualistic workforce, it can aid in cooperation. Employing a team-based compensation strategy in a company will encourage employees to engage with each other, collaborate and strive towards a common goal together, which creates major business benefits. Also, team-based compensation can help a firm stay competitive within its market. Companies that outline their people as their competitive advantage need a strong compensation system to attract and retain their workforce, and employing a team-based compensation strategy will aid in this.