Human Resource Management Introductory Paragraph for the following research pape

Anonymous
timer Asked: Jan 23rd, 2016

Question description

Pay for Performance, Short-term Incentives, and the Link to Compensation Strategy


Purpose

To assess your ability to:

  • design a compensation strategy that is linked with a pay-for-performance plan

  • identify key elements for short-term and long-term incentives for organizations

  • assess the effectiveness of monetary and non-monetary variable rewards

  • describe short-term and long-term incentive plans for individuals, teams, and for people with special skills

  • propose the essential characteristics of a pay structure for individual employees

  • select the essential elements required for establishing an organization's pay grades


Action Items

  1. Research the concept of pay-for-performance, short-term incentive plans, and other variable pay programs and what performance evaluation methods and measures are used for individual or team performance incentives.

  2. Examine how pay-for-performance plans can be linked to the total compensation strategy and short-term incentive programs and variable pay programs of an organization.

  3. Identify factors that affect pay-for-performance plans and how pay-for-performance can be linked to monetary and non-monetary rewards for an industry of your choice 


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