Remuneration And Performance Management Assignment Sample

Remuneration And Performance Management

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1. Analyzing types of rewards to motivate the technical staff at “Computer support.com”, for better performance:

a) Intrinsic reward:

Intrinsic rewards are the inner rewards members receive when they successfully complete a task or project. These rewards are generally subjective and depend on individual effort and ability. Here in “Computer support.com” the owner of the company “Lesley Chang” should apply mainly 2 ways to reward the staff intrinsically:

Giving staff more Autonomy:

Employees want to control, but if the ruling class allows them to mature to their jobs and challenges (and move away from a micromanaging approach), they will take ownership and can take pride in their work and achieve an edge by ensuring projects run smoothly.

Providing Advancement opportunities:

Employees make progress and find solutions. People, not just salespeople, perform better and perform better when they are furloughed from their valued company. Therefore, if it is difficult to increase the motivation of workers, it is necessary to set a clear direction for the ruling class so that they can develop and demonstrate their abilities ( Hickel et al. 2020, 36). Through all this, they can surely achieve their efforts and achievements.

b) Development reward:

The reward system should be market-oriented. An additional aspect related to the development of compensation structures is the need to rely on the general exhibition environment and supply and demand dynamics in production in terms of demand for workers' skills and opportunities. Here in “Computer support.com” the owner of the company “Lesley Chang” should apply some ways to reward the staff according to development:

Rewarding Punctuality:

Punctuality is a quality that sets people apart. And it's not bad that he has two employees trained quickly and persistently. Therefore, it is very advantageous to accept workers because of their willingness and willingness. Recognizing and providing well-being for specific traits within a facility will motivate staff to care for that trait and engage the rest of the trained staff with them.

Seeing the Creative Minds Accompanying Artistry:

Experienced workers usually suggest new plans or add artistic touches to their work. Above all, they are people who take their work seriously and always strive to do their best (Woldoff et al. 2021, 36). Let the bureaucracy enjoy their work. Make occasional references to the ruling class. With targeted awareness, we can easily encourage the rest of the members to voice their plans and even score them the extra mile.

c) Social reward:

Social recognition can be described as a representative reward and approval method. Specific goals are used to establish 'communal meetings' where farmers at all levels can come together to share events and set or understand rewards. Colleagues who appreciate their skills, Here in “Computer support.com” the owner of the company “Lesley Chang” should apply some ways to reward the staff socially:

Featuring best employees:

By highlighting the top contributors on organizational pages and brochures, it not only gives the organization high marks but also spreads organizational principles to the top employees. This is perfect for engaging and inspiring current technical staff. With commissions where the achievements and skills of all staff members are showcased, wearing the celebrity mark is a clear cover for the bread of worker recognition. This makes this rating even more noteworthy and valuable.

Social recognition:

Employee ratings do not mean that the expected results will be achieved on the finished door. Let's go public while meeting with employees. When talking to agents in public meetings, employees show their hard-earned ratings. It is also customary to convey the gratitude of the accompanying staff to public broadcasting. Operators typically spend a lot of time working on different public release tiers. They would appreciate it if the organization could express their appreciation for these guidelines.

d) Financial reward:

The term “Financial reward” implicitly refers to monetary reward resources that an employer provides to an employee, usually in return for an individual's labour, offerings, skills, and work performed. Here in “Computer support.com” the owner of the company “Lesley Chang” should apply some ways to reward the staff financially:

Rise in pay:

Incentive pay is additional compensation paid to workers or established groups. Proposing a salary increase improves employee performance, improves employee retention, and boosts farmers' self-esteem. Employees benefit from compensation if they believe the raise is fair. The stronger the temptation the greater the ambition is (Malleson, 2023, 36). Employers may offer cash rewards to representatives who set goals to take action, go beyond, or achieve set goals. This creates a sense of purpose and recognizes competence and influential roles.

Gift-cards:

Like cash rewards, talent cards are also a great financial incentive, perhaps even better than cash. Employers can choose Talent Cards based on the wishes and interests of existing employees. Gift cards can make a greater impact and leave a lasting impression, especially when operators use gift calendars for property purchases and private events (DA et al. 2021, 80). Gift cards can be customized to fit the company's budget and can be used as a way to show appreciation.

2. Briefly analysis of the strategies which help to improve the performances

a) Base Pay

Base pay strategies can certainly help to enhance staff implementation in a computer service business. It means competitive base pay can entice skilled experts to the computer service business. It also assists in keeping talented workers who might otherwise be drawn away by better-yielding options elsewhere (Ali et al. 2021, 25). Proper and competitive base pay can encourage workers to perform satisfactorily. Base pay schemes are created to identify and award workers' expertise and knowledge. By presenting higher base pay grades for more specialized roles, the authority can recognize and promote advanced skills development among their staff. Acceptable base pay delivers a sense of financial protection to workers, decreasing their stress and permitting them to concentrate on their work.

When workers are not always stressing about their financial standing, they can commit more significance and awareness to their job commitments. When workers feel they are paid moderately for their job, it simply moves their confidence, job stimulation, and overall fulfillment with their work. Satisfied workers are more feasible to be effective and dedicated to the organization. It's essential to state that base pay is only one part of a complete payment and rewards scheme. Other elements like “performance-based bonuses”, motivations, usefulness, and employment development options also play an important role in inspiring and hiring workers (Cote et al. 2019, 25). A well-spherical method that assesses these elements in concurrence with base pay can assist in making a supporting and high-performing work atmosphere in a computer service business.

b) Performance-based pay

Performance-based pay is one of the adequate tools for enhancing staff implementation in a computer service business. Performance-based compensation aligns workers’ goals with corporate goals. By linking compensation to undertaking metrics like customer fulfilment ratings, courtesy response terms, or thriving project fulfilment, workers are encouraged to aim for greatness and complete targets. When workers know that their payment is now tied to their interpretation, they are more feasible to prioritize productivity and pursue ways to enhance efficiency (Williams et al. 2019, 20). This can lead to improved output, more pleasing management, and simplified procedures. However, the system also can develop a sense of wholesome contest among workers. Understanding that their implementation is being considered and awarded, staff associates may strive to exceed their counterparts, driving general productivity and rate of service. Performance-based pay usually contains possibilities for professional growth and skill enhancement. Workers may be incentivized to develop new credentials, attend apprenticeship schedules, or gain expertise in precise locations to enhance their implementation and improve their prospects of achieving higher pay. Identifying and awarding exceptional interpretation not only inspires workers but also supports a favorable job culture and inspires ongoing obligation to greatness (Lagrosen et al. 2019, 12). Performance-based pay plans can donate to higher grades of employee employment and job fulfilment. When workers see a direct correlation between their actions and bonuses, they are more feasible to feel appreciated and supported in their work, showing increased job fulfilment and decreased turnover.

c) “Employee Share Ownership”

Employee share ownership is able to improve performance in organizations. Employee percentage ownership aligns the claims of workers with the victory of “Lesley Chang”. When employees own stakes, they become more motivated to perform towards the company's extended terms of success since their own economic well-being is literally connected to it. This alignment of claims can result in improved productivity, responsibility, and commitment among workers (Shen et al. 2020,1122). Employee share ownership equips workers with the chance to communicate in the company's financial victory. As the company executes well, the worth of its shares may improve, offering financial bonuses beyond its traditional payment. This can act as a strong motivation for workers to go overhead and beyond in their actions to donate to the company's victory. While “Employee share ownership” also has positive impacts on implementation, it's significant to state that its effect can vary relying on various aspects, like the structure of the share ownership schedule, company civilization, and across-the-board management techniques. Executing a well-structured and fine share-right plan, along with persuasive contact and worker involvement, is essential for maximizing its potential advantages.

d) Employee Benefits

A comprehensive benefits package helps participants feel valued and recognized, increases job fulfilment and leads to better dating. Ultimately, this leads to greater efficiency, less change, and a safer, more creative work environment. Giving employees the right perks can have a greater impact on the organization. The obvious benefit is increased employee insanity and material energy. Done in the right order, this helps to humiliate the deserter. Additionally, when job satisfaction is low and stress levels are very high, stress levels for employees expected to be productive in the facility increase significantly (Ramlawati et al. 2021, 515). This performance degradation can affect important content. Lack of social benefits also contributes to the exhaustion of many professional employees. This can lead to a rapid increase in operator turnover. The loss of members and the repeated recruitment and preparation of new members can result in a significant loss of performance and income that is unacceptable for the institution.

3. Explanation of the three employee criteria with proper example

a) Competencies of the technical staff

Understanding the employee’s technical competencies helps evaluate the knowledge and capabilities necessary specifically for the computer services business. A higher the competency level increases the skills and abilities while performing a task in the best possible manner and achieving higher success (Gallardo-Gallardo et al. 2020, 457). As computer services and their demand are incredibly growing day by day it is essential for Lesley Chang’s computer service offerings. This will increase the data collection process, documentation, and recording of the historical data, increasing the undependability of the individuals. The company can integrate technical knowledge like automation, machine learning, software upgrades, AI system, and many more that will help in designing better quality products.

Pros

The higher the knowledge the more the management can solve the problems with increasing competencies and power. Better financial planning can be assured which will help the firm in attaining a higher profit margin (Shaturaev et al. 2021, 65). Customer services can be improved, increasing the communication bond within the organisation.

Cons

The increasing dependency on technical knowledge is found to be a major reason for the communication barrier. The cost of implementing the technical assistance will increase the cost of the business. Moreover, excessive technical support can negatively affect customer service.

b) Behavior of the sales team

Analyzing the sales and behaviours of the sales staff can be the ground that will help them in rewarding and grading accordingly for their performance metric. The better and improved communication skills and productivity scale with higher contribution can be taken as one of the judging’s and rewarding them for their performances.

Pros

The sales staffs are the team responsible for attracting customers and providing their services as per their requirements. Thus, communication skills will be used as the criteria for judging the employees and meeting sales targets and objectives (Akter et al. 2020, 275). It has been observed keenly that the behaviour of the sales department is highly responsible for customer satisfaction.

Cons

The rewards metrics are based on the behaviour of the sales team and will only focus on the level of communication skills and presentation. However, there are plenty of things that are required to be taken into consideration like the turnover performance of the employees, past performances, and many more.

c) “Results for the technical staff”

Pros

The results and outcomes of the sales team collectively will be taken as the method for rewarding and deciding the total performance of the team. The strategies that the employees are using to attract customers and innovations that are applied for the enhancement of the services are taken into consideration (Onyekwelu et al. 2020, 36).

Cons

The rewards are essentially an important component that encourages enthusiasm among the staff to give their best possible effort. However, the negative implication of rewarding will be biased for the evaluation of the judging criteria. Thus, it is needed that each individual terms and conditions are required to be evaluated by the management to mark the performance criteria.

References

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• Ali, Bayad Jamal, and Govand Anwar. "An empirical study of employees’ motivation and its influence job satisfaction." Ali, BJ, & Anwar, G.(2021). An Empirical Study of Employees’ Motivation and its Influence Job Satisfaction. International Journal of Engineering, Business and Management 5, no. 2 (2021): 21-30.
• Cote, Robert. "Motivating Multigenerational Employees: Is There a Difference?." Journal of Leadership, Accountability and Ethics 16, no. 2 (2019): 15-29.
• DA, Laura Hills. "Managing overworked employees." Physician Leadership Journal 8, no. 2 (2021): 77-81.
• Gallardo-Gallardo, Eva, Marian Thunnissen, and Hugh Scullion. "Talent management: context matters." The International Journal of Human Resource Management 31, no. 4 (2020): 457-473.
• Hickel, Jason. Less is more: How degrowth will save the world. Random House, 2020.
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• Malleson, Tom. Against Inequality: The Practical and Ethical Case for Abolishing the Superrich. Oxford University Press, 2023.
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