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CourseWork Assignment Sample on The Performance Incentive Program

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CourseWork Assignment Sample on The Performance Incentive Program

The Performance Incentive Program
1           Introduction
1.1         Background information

A performance incentive project refers to an arranged action envisioned to encourage and motivate individual employees into attaining the targets set by an organization. It aims at influencing individuals so they can do what is expected from them. A large percentage of organizations have their incentive performance programs grouped in line with the categories that follow (Kohn, 1999);

Open performance incentive program– this kind of program allows any individual who achieves a specific organizational objective to win a prize. The standard structure for open program is what gives every employee a particular objective like closing about 3 business deals in a month. The second kind is closed performance incentive program. This kind of project structure allows a particular number of individuals to deserve set number of prizes and awards. For example, a firm might decide to award 10 best performing employees of the year. In such a case, 10 is a fixed number.

The plateau performance incentive program is the third type. It offers rewards to distinctive employee execution levels and it is what this study is going to employ. The benefit or the advantage of this form of project structure is the fact it propels individuals to inspiring themselves a little harder when they are working towards accomplishing their next prize augmentation.

CourseWork Assignment Sample on The Performance Incentive Program

CourseWork Assignment Sample on The Performance Incentive Program
1.2 Objectives of this Incentive Programs

The major objectives of this program will be:

  • Clarification of different employee level job responsibilities as well as organizational expectations
  • Enhancement of productivity of both employees and organizational teams
  • Development of capabilities of company employees by coaching and training
  • Promotion of employee behaviour that is aligned with the key objectives of the company, its goals and culture.
  • To provide a suitable platform for the creation of human capital choices that are operational in nature
  • Improvement of the process of communication among company managers and employees at all levels

CourseWork Assignment Sample on The Performance Incentive Program

1.3 The Incentive Program Qualifiers

These include the factors and terms that will be used in determination of the qualification of the employees: it will be dependent on the individuals who have effectively finished and experience normal organizational trainings and their status is no on ay post trial supervision. Another figure to be acknowledged in the impetus program is the reliable participation of representative to the organizational day-by-day schedules. Additionally, they should meet the obliged labour profit levels that aid in attaining organizational set objectives and destinations.

1.4 Incentive Program Benefits
  • It will reduce the total cost of per unit
  • It will lead to improved quality output in the organization
  • It will lead to improved safety levels
  • It will lead to minimized or reduced cases of staff turnover
    2.2. Specific Awards Offered for Each Goal/Expectation
Level of Employee Goal/Expectation Specific Award offered
High level Minimize the turnover frequency of staff(Often times, employees under this section are well experienced in the organization and the industry as such, they are vulnerable to being poached by other organizations or even retirement as such, there is need to retain them.
  • Provision of bonus schemes-Bonus plans are the most recognized kind of money forms of rewards and incentives. Rewards can be accumulated and paid out at different interims, for instance, on a monthly basis, quarterly or yearly. Bonuses are also matched for the advanced employees. The rates of bonus often change between 10% and half of the aggregate pay. This helps recognize the effort made by employees in creating unique exertions in their work.
  • The plans of profit sharing will be good as well
  • The plans on gain sharing plans
  • Offering them merit pay plans
Middle Level To increase employee motivationThis category needs consistent motivation so as to enhance their level of productivity
  • They are eligible for promotions
  • Health insurance
  • Bonus schemes
Low level To boost the productivity levels of the organization They can benefit from health insurancePension fundsBeing given allowances like annual leaves, rotational transfers, lunch at the work place among othersBeing given a conducive working environment
  1. Incentives for reporting behaviours e.g. sexual harassment and other threatening issues

In our organizational context, sexual harassment is considered as unwelcome sexual developments, the demand for sexual favours as well as any other physical or verbal behaviour that is of sexual nature. This include but are not limited to; a) submission of such gestures when made either verifiably or unequivocally, b) compliance or dismissal of such direct by distinctive used as the groundwork for job choices that influence the individual or c) such lead has the impact or reason of generously meddling with employee’s work execution or makes unfriendly, scaring or hostile nature’s domain (Romanoff, 2010).

Employers are now getting more progressively proactive in getting rid of sexual harassment from working environment. As vice president in charge of HR at the company, I will make sure the performance incentive program has guidelines that are specific regarding sexual harassment. These will include (a) building of solid strategies that prohibit strongly, any form of sexual provocation, (b) instructing the company employees regarding these approaches as well as protestation techniques for those who are affected, (c) quickly researching dissentions of sexual harassment and (d) making powerful restorative move where it is found that sexual provocation exists (Kohn, 1999). The motivation for managers to take such activities is extraordinary. In case charges are not established at EEOC level, the chances are the employers liabilities in determination of sexual harassment cases will rise tremendously. Contingent upon the intricacy and length of the case, barrier expenses range between $ 100,000 and $ 200,000 or more.

  1. Steps Human Resources plans Take to Maintain Equity and Fairness

Ordinarily, value is characterized as anything that is of quality earned definitions through contributing or giving something that is of worth. Equitability is achieved when the profit for value equals to speculation made. This guidelines states workers might like their recompense to be a reflection of their commitments to the organization. The individuals who help more to achievement of the organization might (and ought to) need a higher payment than individuals who help less. Assuming the remarkable execution of people was never recognized, high performing employees are liable to be unmotivated. Obviously, this raises the inquiry on how to measure such commitment legitimately (Romanoff, 2010).

Since it identifies with remuneration, reasonableness is achieved when pay compares to the worth of the performed work. Inequity, occurs when worth of the work carried out fails to match to the remuneration quantity appropriated. Reasonableness and value, a focus subject in payment practice and hypothesis, arises in numerous distinctive settings. For instance, here are some significant ranges:

  • The financial and lawful issue of equivalent pay for comparable work (valuable worth)
  • Pay contrast caused by outside rivalry and business weights
  • Equitability of employee pay rates for the individuals doing the same job
  • Individual representative perspectives of their quality in regard to their pay

The methodology used by an organization is of great importance as genuine pay programs it actualizes. Regularly, organizations underline outside value in the outline of their recompense structure. This helps keep tabs on outer value, empowers the organization to create payment projects and structures focused with different organizations in proper work markets. Discernments of value as well can impact the capability of an organization to hold, draw in and spur the employees. Representative observations of inequity and value are also vital and ought to recognize deliberately when an organization sets its remuneration goals. Employees who enjoy impartial pay medication are highly propelled to perform better or to aid in the organization’s objective. Distinctive workers, be as it might be, discern value in different dives.

  1. Manner in which HR will work with employees who feel the program is unfair or otherwise unsuitable for their personal and professional needs

Open and proper communication is one of the best strategies to deal with employees harbouring feelings related to the incentive program as unfair (Kohn, 1999). Openness aids in the process of having individuals included in doing business and the process of decision making. For the incentive program to work, it must be outlined and comprehended in ways prompting employees to embrace and accept it. Equity in an organization aids guarantee this and the framework that fits the circumstance, as it allows the individuals influenced by the framework to impact on its plan. With equity and openness, boundless responsibility for incentive program is created so it is not a matter of obligation of the faculty or remuneration branch. Rather, it turns into obligation of everyone in the association to see the incentive performance program works reasonably and viably. This is especially imperative point in the subsequent to in customary structures of administration. In majority of cases, the incentive framework turns into being regarded as property of Human Resource division and as such, it winds up as defectively and insufficiently backed by line administration. Without any expansive backing in the association, the incentive framework cannot aid specific business strategies and targets.

CourseWork Assignment Sample on The Performance Incentive Program

CourseWork Assignment Sample on The Performance Incentive Program: Conclusion

One essential factor to think of while executing administration for decision making purpose and representative advancement are positively related, the two targets seldom are underpinned by a singular framework. The point when execution administration is used for decision making, the examination data can be used as the premise for boosting salary, exchanges, assignments, advancements, decrease in energy as well as other managerial human resource activities. The point when there is use of execution administration for improvement, the examination data is used to guide the preparation, coaching and employment encounters as well as other developmental routines employees participate in effectively in order to enhance their abilities.

CourseWork Assignment Sample on The Performance Incentive Program

CourseWork Assignment Sample on The Performance Incentive Program: References

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Equal Opportunity Employment Commission (2010). Managing the risks of sexual harassment claims: A defence perspective. Retrieved from http://www.dgslaw.com/images/materials/291595.pdf

Kohn, A. (1999). Punished by rewards: The trouble with gold stars, incentive plans, A’s, praise, and other bribes. Boston, Mass: Houghton Mifflin Co.

Romanoff, K. (2010). Pay equity: Internal and external considerations. Retrieved from http://theperfectpayplan.typepad.com/Pay_Equity_Article.pdf

CourseWork Assignment Sample on The Performance Incentive Program

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