Discuss Incentive Pay Plans, Seniority and Merit Pay

Mar 11th, 2014
DotaCN
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Question description

Discussions

  1. Seniority and Merit Pay 
     
    Define the concept of seniority and merit pay plans, including the strengths and limitations of such plans within an organization.  Discuss the job, organizational and/or other factors that should be considered when deciding between the two.  Respond to at least two of your fellow students’ postings. 
  2. Incentive Pay Plans 
     
    Discuss how incentive pay plans – both individual and group – motivate employees to achieve high levels of performance.  Identify potential weaknesses of these plans and suggest steps that can be taken to make these plans highly effective.  Then, choose one industry that either an individual or group incentive pay plan would work best providing support for your reasoning (using personal examples to illustrate your point if possible).  Explain your answer. Respond to at least two of your fellow students’ postings. 


Assignment
 
Performance Management Issues

You have been asked to return to your alma mater and speak to current students about performance management issues.  To make the most of this experience for yourself and the students, write a 3-5 page paper that details the following: the concept of “performance management”; the most prominent types of performance management plans; its impact on the employee and the organization; the relationship between performance management and compensation; and factors that should be considered when successfully implementing performance management within an organization.

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(Top Tutor) Daniel C.
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School: Carnegie Mellon University
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