Verified Document

Components We Need To Analyze And Discuss Term Paper

¶ … components we need to analyze and discuss here. First of all, there is the compensative/remunerative component. Benefits and compensations represent a way of increasing personal revenue and partially represent the compensation for a cost of opportunity. For example, in some cases, compensations are paid for extra hours spent at work. These are a way to remunerate the time you have spent working for the company, time you could have used to produce the same amount of money otherwise. As an individual, however, the reward component is even more important in the case of compensations and benefits. It is the most practical way by which the upper management can show an employee that the work he or she is performing within the company is important and boosts overall profits for the entire company. It is also a way to show how important the role of the respective employee is within the company and a way to stimulate him in achieving higher performances in the future.

Some forms of benefits have a certain psychological component as well. In this sense, we may enumerate benefits such as Easter or Christmas bonuses. At a time of celebration, the company can show that, at a time of personal celebration for each employee in part, it can contribute to the employee's benefit for the festive season, in a way that affects his...

In my opinion, the merit pay is obviously the best way to show an employee that his performance is appreciated within the company. The most important term to be used in evaluating the merit pay from an efficiency perspective and its main advantage is differentiation
. There are several things that need to be considered here. First of all, there is the fact that the employee has achieved something he would not normally accomplish. This may be represented by a tremendous amount of work on a certain project or by an outstandingly high performance. Nevertheless, these would be facts that do not normally occur in the employee's activity.

Second of all, the differentiation principle allows the employer to distinguish a certain employee and show he has performed better than others. This may also have a simulative effect on the rest of the employees within the company, as they may strive to perform better themselves on other projects. As such, in projects involving teamwork, the merit pay may show itself to be excellently suited. Additionally, merit pays, given their motivating component, can also be satisfactorily used when team with several projects in a certain period of time.

b. Incentives are used to motivate the personnel towards achieving a certain goal (a…

Sources used in this document:
Bibliography

1. HR Guide to the Internet. 1998. On the Internet at http://www.hr-guide.com/data/G442.htm

HR Guide to the Internet. 1998. On the Internet at http://www.hr-guide.com/data/G442.htm
Cite this Document:
Copy Bibliography Citation

Related Documents

Components of a Quality Curriculum an Annotated
Words: 2417 Length: 5 Document Type: Essay

Components of a Quality Curriculum An Annotated Bibliography Quality Curriculum The research indicates that a quality school curriculum is reflected by the curricula of its mathematics and science components, driven by its textbooks and teachers, and may improve if a variety of domains are included (e.g., music and the arts). But math and science curricula appear useful predictors of the overall quality of a school curriculum. In addition, students exposed to better learning

Components of an Executive Compensation Plan There
Words: 685 Length: 2 Document Type: Essay

Components of an Executive Compensation Plan There are five basic components of an executive compensation plan: Basic salary: although formal job evaluation still plays a crucial role in determining executive base salary, other sources tend to be more important. Most important is the opinion of a compensation committee, usually composed of the organization's board of directors. In most cases, the compensation committee takes over some information analysis previously done by the

Components of Field Research Are Observations and
Words: 679 Length: 2 Document Type: Essay

components of field research are observations and interviews. Ideally, observations should take place in the natural setting or environment of the subjects that are being observed. Observations are key not only in field research, but also in life. Observing is a greater challenge than most people may think. Even though, to a certain extent, all people are observers, observation for the sake of field research takes training and research.

Components Contemporary Nursing Knowledge. The Article Include:
Words: 987 Length: 3 Document Type: Essay

components contemporary nursing knowledge. The article include: • Concept triangulation • Metaparadigms • Philosophies • Conceptual models theory. Nursing concept: The relational theory of nursing According to the article "A theory of the relational work of nurses" by Daniela Terrizzi DeFrino from Research and Theory for Nursing Practice, because nursing has always been conceptualized as a 'caring' profession in a demeaning fashion, quite often some nurses are apt to deemphasize this

Analyzing Organization
Words: 3302 Length: 7 Document Type: Assessment

Radical Humanist Approach to Organizational Analysis Analyzing Organizations Company Patagonia is a small company that began by making perfect pitons for rock climbers. The company was founded by a band of climbers and surfers who lived the minimalist lifestyle they promoted. The company makes clothing and gear for the silent sports -- no motors or engines are involved -- of skiing, snowboarding, surfing, fly fishing, paddling, and trail running" ("Patagonia," 2012). For

Analyzing Motivational Theories
Words: 2495 Length: 7 Document Type: Research Paper

MASLOW'S THOERY VS. HULL'S THEORY Integrating Two Theories of Motivational Psychology Maslow Hierarchy of needs vs. Hull's Drive Reduction Theory Motivation is common term, but it is not easily defined. This is due to the many studies, which provide different definitions for the term. While some define it as a set of beliefs, values, interests, others define it as a cognitive decision making process. For this paper, motivation is central to a set

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now