Description
Individual Project
Performance and Compensation
Wed, 10/25/17
Numeric
100
800–1,000 words
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Assignment Details
Assignment Description
A strategic purpose for a well-blended compensation program, one that includes various types of direct compensation, is gaining employee commitment and productivity. One of the most effective tactics for this strategy is designing a process for linking individual achievement to organizational goals.
Prepare a report to senior leaders addressing the following:
- Explain the concept of tying performance to organizational goals.
- Describe the different types of individual and group-level performance measurements.
- What are the advantages and disadvantages of individual versus group-level performance recognition?
- Discuss the options an organization has to link individual or group monetary rewards to organizational success.
- Develop recommendations for how to implement, monitor, and evaluate such a program.
Please submit your assignment.
Explanation & Answer
Attached.
Running head: ORGANIZATIONAL COMPENSATION PROGRAM
Organizational Compensation Program
Name of the Student:
Name of the Institution:
Date of Submission:
ORGANIZATIONAL COMPENSATION PROGRAM
Introduction
Employee performance plays a significant role in an organization’s strive for success. To
attain an organization’s objectives, both individual and group performances are needed. Most
business organizations develop compensation programs to improve employee performance, hence
enabling the organization to achieve its goals efficiently. However, if a performance recognition
program is poorly structured, the organization’s goals may not align with individual or group
engagement. Nowadays, there are many business pressures which make organizations strive for
an efficient and effective way to execute their strategy to remain competitive.
Tying of Performance to Goals
The concept of tying performance usually determines that the performance level of a group
or an individual is directly aligned with organizational goals in both direct and indirect ways. It
generates its foundation from the understanding that individual performance and efforts ensure
that organizational goals are effectively attained. The need to leverage the competence of
employees is critical for mid-size and small firms since they cannot compete with lar...
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