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The role of performance management in controlling employees
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Yearly Pay Rise Since we born on this earth, we run behind money. It is not considered a bad thing. It is just the human nature. Therefore, people go to work every day to get money to pay for their needs and please themselves. Their money comes from the place that they work at, and they get a pay rise every year. What is a pay rise? "A pay rise is an increase in the amount of hourly pay or salary that an employee receives for work performed in an organization." (1). It considered the most important job motivation that employee waiting for every year to increase his or her annual income. People commonly receive a pay rise based on their length of work; however, in my opinion, they should receive yearly rises based on their productivity. …show more content…
Others believe that it is better to receive pay rise based on the length of service, which means the longer a person works the more rise he or she will get. For instance, the employee who worked for thirty years receives higher annual rise. On the other hand, the five years worker receives less. From their point of view, it is more effective to get pay rise based on the length of work than to get a pay rise based on productivity for several reasons. The first reason is that they think that a person who has more experience deserves more pay rise. Because the employee worked in this company, and he or she has more knowledge about work nature in this company. Moreover, they claim that he or she had done and participated in many things for this company, therefore, they deserve pay rise more than the new …show more content…
Thus, they have the priority to get more rises. I agree that loyalty is necessary too, but it can appear when the employees get rewards as they deserve. For example, and employee after one year work, if he or she receives a pay rise as they deserve, he or she will be more loyal to the company and produce more to get more(4). On the other hand, if an employee does not get rewards for his or her hard work, and an old employee gets more rise, he or she will not be loyal and they will not work efficiently. They are going to do what they have to do only without being creative or a hard worker and may leave the company, for instance(4). Also it is not fair to give equal pay rise to an employee his or her productivity is low compared to other employee his or her productivity is
If someone is good at their job, they should be rewarded with a raise. They should be rewarded if all of their tasks are performed well and they meet all of the required deadlines. If they are an excellent employee and they perform their tasks the best way they can, they should be given a raise to show that they are appreciated. If they invest all of their time in doing their job the best that they can and they use all of their given time wisely, they should be given a raise in pay. They should also be given a raise if they offer a lot to their field of work(How to prove you deserve a raise.).
In offering higher wages, the company will not only promote fairness and loyalty among its employees, who are the most valuable assets in any company, but will also attract quality pool of applicants and enhance the quality of its human capital.
Besides this, an employer can use other tools to value the commitment and the engagement of an excellent employee. As a manager, from my experience (because in my country the salaries are fixed and based on the performance I cannot decide for a merit rise) I used different tools, in order to encourage my team. Sometimes, not just the money is a satisfaction, especially for young professional they better prefer do get promoted, to enjoy different experiences (such travelling abroad for the purposes of capacity building) or even to get announced as the best employee of the year. Therefore, besides compensation, there are other forms, that are not just material but are some other honorable tools that a manager could use in order to motivate and encourage the team
Reasons being their job in an organization or a corporation is very crucial and not easy to replace. Due to this, companies often go to great lengths spending hundreds of thousands of dollars searching and recruiting for someone who is able to help their company grow in value and continue to be successful. In order to attract the best and highly skilled employees, companies cannot just focus on their salary offers anymore. Competitive hiring practices are now focusing on various compensation and benefit packages that will make potential employees favor them to other competitive companies (“Executive Benefits and Compensation”, 2016). Companies must offer benefits that will have a positive effect on the organization without being counterproductive, meaning offering benefits that employees will use appropriately and will consequently have a positive impact on their effectiveness at work. Some concerns about executive compensation include making business decisions in order to meet business goals under the premise of personal gain in order to receive their incentive (“Executive Benefits and Compensation”, 2016). In order to combat this concern companies should tie the employee’s incentives to the value of their firm
As the corporation growth, the competition between other organization become more tense as one organization wanted to become one level higher compare to the other company. This condition in result will put the employee under high pressure to maintain the status or bring it to another level. With the influence of emotional intelligence, the top level managers will feel more understanding about the situation and will have some human sense. The managers still urge the employee to improve their performance to reach certain aspect, but along the journey, the managers will motivate the employee with rewards or certain position as...
For my second recommendation, in order to help with the problem with business having trouble with keeping employees motivated to work for them for longer, businesses should reward employees with bonuses if they stay for x amount of year(s). This will keep employees motivated to continue working at their place of employment and decrease turnover.
When you have been at a job for a while, it is normal to expect a raise. Many people miss out on a higher salary because they do not know how to ask for a raise. If you have put in the work and earn a raise, then you have to ask for it. By using the right strategy, you can increase the odds that your boss gives you a higher salary. Ask for a Raise When You Deserve It
The company explanation about the reason the pay shouldn't increase is explainable because of the low profit margin. Which means the company
There is a massive difference and most of the times I don’t think that the workers want same salary and incentives as their CEO’s but they feel they are not paid well enough for the job done. I think they are grumpy if they are over worked, understaff and not paid well enough. However, this will definitely motivate worker to work towards becoming employed higher paid position or at a management or CEO level. Also, the case study said they no longer eligible for profit sharing and this might encourage worker to work towards securing a management position to be eligible for this
It is important to note that timing and choosing appropriate work actions that warrant an extrinsic reward, very much affect the value of the reward over time. Rewarding an employee with a pay raise months after it was earned by a specific action, give that reward less value to the employee. Another example would be rewarding employees to often, again devaluing the reward itself decreasing its overall effectiveness as a motivator (Di Ruzza,5).
Incentive reward engagement offers a win-win situation for the employees and the company. Kelleher believes that incentive is a form of recognition and builds engagement through company’s and employee’s obligations towards a common goal (2014). The company has a “Growth Incentive Scheme” for the production workers. Special monetary incentives are provided should the workers achieve the monthly output target. Through the rewards, employees feel motivated towards their work and thus, contribute towards the company’s
Most will agree that knowledge is the ‘key’ resource in this post-industrial economy. The challenge for many companies is developing an organization that creates and cultivates knowledge and learning. Pay plays a significant role in shaping workplace behavior. Most of the traditional pay systems reward the job the individual performs rather than the skills he/she brings to the job. The system is not being able to reward the things the company needs and this presents a barrier. The trend has moved away from pay for the value of the job, service and seniority. It is being replaced with paying for skills, knowledge, competency, performance and productivity, all which can be delivered through different invitations, from changes to base pay to introducing gainsharing.
Loyal employee tend to be more motivated than the new employee. The more a human love something, the more incentives popped to improve...
In today's complex business environment; traditional approaches like monetary incentives are not the only prime motivators. In addition to expecting financial incentives for their performance, employee's expectations are much more. Appreciation, recognition and opportunities for personal growth; must be catered for to harness maximum productivity. Furthermore in an era where change is imperative for the organisation's survival, highly motivated employees, represent flexibility and show willing to change; a vital component for the success of any organisation.
Management spends a huge amount of time to design incentive systems and schemes to motivate their workers and to ensure they work in their best possible manner. Motivating workers by giving them decent pay helps in winning employees heart to make the work done efficiently, significantly and effectively. The most effective way to motivate people to work productively is through individual incentive compensation (Pfeffer, 1998). An attraction of getting more is a powerful incentive to people for high performance. While most people agree that money plays a major role in motivating people, in organizations there is a widespread belief that money may also have some undesirable effects on morale.