Imagine that the HR department was going to design a compensation approach for that job that was aligned with reinforcement
Wk 2 Discussion – Compensation Approaches
Respond to the following in a minimum of 175 word Think about your current or a previous job, or a job you know well. Imagine that the HR department was going to design a compensation approach for that job that was aligned with reinforcement, expectancy, and agency theories.
Briefly describe the job you are writing about, then describe a compensation approach for that job that aligns with all 3 theories.
Consider the following questions when writing your response:
What are the potential advantages of this plan?
What are the potential negatives of this plan?
What might be difficult in administering this plan?
Be constructive and professional.
#1 YF
I am in the healthcare industry; The Compensation approach that I have seen is that of overtime pay. Overtime pay is the amount of time work that exceeds normal hours of work expected. The incentives according to some Organizations are double the hourly rate of a worker. The reinforcement part of this is that; it encourages workers to want to put in more hours of work in order to get these incentives.In California, Employers must lawfully pay one and one and half times their normal working wages for every hour worked after the 8 hours in a work day or over 40 hours in a workweek. Expectancy: Opportunities for getting promoted. Employees get noticed for putting in more work and more hours and are always willing to stay late for the organizational goals to be achieved, they are considered team players. Working overtime, therefore could put an employee in the manager’s good grace and at the top of the list for a promotion or raise.
Potential negativity of working overtime: Employees who work overtime hours experience numerous mental, physical, and social effects. Significant effects include stress, lack of free time, poor work-life balance, and health risks. Employee performance levels could also be lowered. Long work hours could lead to tiredness, fatigue, and lack of attentiveness.
Employers might have difficulties administering these plans sometimes because of the expenses of overtime that is required to be paid; Also, sometimes employees refuse to stay longer hours despite the incentives. References:(). http://www.invensislearning.com(). http://www.caemployeelawyer.com
#2 CA
The job which I currently perform I am not allowed to disclose any information since its with the Federal Government. At my previous workplace, I had the role of a sales marketer who was entrusted to oversee a particular sales territory and was engaged in maintaining a long-term relationship with customers to increase sales. The compensation approach that I consider most viable for this position which will align with all the above-mentioned three theories would be the \”Basic Pay plus Incentive\” based compensation pay.
The major advantage of this compensation plan is that apart from basic pay it will assign certain incentives to employees so as to keep them motivated to improve their performance. This compensation approach will establish certain specific performance targets for employees and link the incentives to be received by them with the attainment of these objectives or targets. Therefore basic pay which will be paid to the employees equally will create an agency relationship, making employees accountable for their actions and putting interests of company at forefront while the additional incentives will act as reinforcement and increase the Expectancy of receiving high benefits by putting more efforts and diligence into work.
The major negatives of this plan are that it might put pressure and unnecessary stress on employees to attain certain targets which might be above their potential or territory scope resulting in discouragement and less morale. Some achieving more incentives while others lacking behind might create unhealthy competition breeding grudges and loathe.
The most difficult thing in administering this plan is that it might be very difficult to outline or frame out specific measurable performance targets for qualifying for several levels of incentives as each employee has a different capacity, potential and Capabilities from each other and judging them homogeneously is not effective to raise their confidence and morale.
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