The goal of job status rewards is to compensate employees for their individual job performance. Specific examples of these rewards include profit sharing, bonuses, and stock options. Associates are rewarded based on the condition of the roles they occupy. These rewards are distributed through job evaluation methods. Job evaluations analyze the performance of an individual in the workplace.
An evaluation process is based on job analysis that reveals the worth or value of a particular position. The job evaluation for some organizations determines salaries for the created positions, which plays a pivotal role in most companies. The job specifications are a detailed description of job duties and task. A complete description of a job, gives candidates an opportunity to understand what it entitles to be successful with that company. Job analysis refers (Haque Talukder, 2014) to a process of analyzing, collecting, and explaining the contents of the job in order to provide the criteria for a job description and data for recruitment, training, job evaluation, and performance
Rewards and compensation of an employee are managed according to its job specification and description and are designed according to different theories. In reward management, the most important and critical part involves pay and other benefits for which an employee is compensated for the efforts and services, it renders to the firm. Hence, the projected paper is destined to reflect reward strategy, different theories and perspectives regarding reward and performance, complexity involved in managing reward and firm performance and problem solving techniques regarding reward scenarios. IMPORTANCE OF REWARD From an organisation point of view, reward to an employee is one of the powerful tools in achieving the... ... middle of paper ... ... an expectation to get the compensation from the organisation. In order to compensate an employee, firms formulate reward strategy according to which pay and other benefits for the assigned job of employee is planned.
This type of position gives the employee clarity on what the expectations are for the job because of it is primarily based on a job description composed of tasks rather personnel traits. The job focuses on tasks, it uses an evaluation system with assigned value that measures the task completed, and this demonstrated how well an employee performs the tasks. For the organization, this type of position helps define job security which depend on tasks completion rather than what skill sets, an employee can offer or develops as the result of performing the job over an evaluation period. The job-based positions provide an employee some stability, the employee understand the pay structure and can predict pay raises and increases based on the pre-established values of the position to the organization. As a benefit, there are direct lines of promotion and progression opportunities built into the organizational char... ... middle of paper ... ...fect the environment and can create resentment if compensation varies for similar accomplishments by individuals with similar skill sets.
In order for a company to stay externally competitive, it needs to have a diverse work force and offer divers forms of pay. Organizations will develop different strategic compensation policies based on their operation and other important variables. A well-structured compensation system could have a major impact on employee’s behavior, performance and effectiveness in that company. Most compensation systems reflect the value of the company and how the company treats their employees. Employees look at the pay system of any company and they get a general idea about the company.
The purpose of conducting this research is to identify that how work design affects on employees performance and how motivation helps to influence the employees to actively perform job tasks, that whether job design maximize performance or not. Job design should be aligned with the employee’s capabilities or desire. Employees are an important asset of any organization so, organization should make sure that whether their employees are satisfied with their roles or not. Work design according to one’s own choice brings involvement and satisfaction among employees. It is foremost responsibility of HR department to understand the significance of job design because improved job design will lead to employee’s satisfaction and will result in better performance.
Occupations come and go with time as does the specifics of a particular job. Current and up to date job analysis are important to the success of businesses to hire in, train and rate employees. Different means of completing jobs are being created all the time whether its due to new technology or just a new approach or concept of the job as a whole. If job analysis are... ... middle of paper ... ...g results most efficiently and cost effectively. Businesses should weigh the costs and benefits associated with conducting job analysis.
The level of competition in the corporate world has prompted firms to embrace motivation strategies to encourage their employees with an aim of ensuring that quality services are offered to consumers. To attain this, firms have been prompted to initiate mechanisms that make their workplace desirable so that employees may be motivated to work efficiently and apply their skills optimally. Unlike past days when most firms regarded employees as just part of the inputs required in the production process of goods and services, it is now apparent that they are valued as the human capital without which an organization cannot attain its goals. There are a number of theories that have been used to explain the need for employee recognition and engagement, for instance: equity theory, two factor theory, expectancy valence theory and need hierarchy theory. Motivation of employees should be the primary focus for managers by offering: equity, support to employee aspirations and goals, good remuneration, and skill enhancement through continuous training.
1.Organization strategy and objectives: Job evaluation aligns with the business and organization's strategy by including what it is about work that adds importance and contributes to the organization's strategy and how it achieves its objectives. Flow of work: Job evaluation supports work by incorporating each different job's pay with its relative contributions to the organization, and secondly by setting pay for new, one-off, or other changing jobs within the organization. Fairness: Job evaluation can and does reduce different disputes and complaints employees have over pay differences among jobs by determining an agreed-upon structure that reduces the chance of favoritism and any other bias in setting pay for employees. Motivate people's behaviors toward organization objectives: Job evaluation calls out to employees what it is about their work that the organization values and also what supports the business strategy and its key factors contributing towards the success of the organization. It can also help
It is the basis for measuring performance and will depict what is necessary for job success. The Job Factors section outline the work experience, education, knowledge and abilities required to do the job (Well-written job descriptions are worth the effort, n.d.)(University of Pittsburgh, n.d.). Other items for consideration related when creating a job description are salary range, job locality and equipment used in the performance of the job. If the company is part of a union, there might also be Collective Bargaining Agreements (Writing Effective Job Descriptions,