Organization And Benefits In The Workforce

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in ways that are specific to the needs of their individual firms, encourage them to generate new ideas while familiarizing them with the company strategies, invite information sharing, and rewarding collaboration and team work.
The basis on which compensation payments are determined, and the way they are administered, can significantly affect employee productivity and the achievement of organizational goals. Establishing compensation programs require both large and small organizations to consider specific goals. Employee retention, compensation distribution and adherence to the budget must be carefully weighted against the overall organizational goals and expectations.
Compensation must reward employees for past performance while serving as a motivation tool for future performances. Internal and external equity of the pay program will affect employees' concepts of fairness. Organizations must balance each of the concerns while still remaining competitive.
For internal ...

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choose those benefits that are best suited to their individual needs.
Incentive pay plans can be advantageous to both the employer as well as the employee. The success of an incentive pay plan depends on the organizational climate in which it must operate, employee confidence in it, and its suitability to employee and organizational needs. Importantly, employees must view the incentive plan to be equitable and related to their performance. Performance measures should be quantifiable, easily understood, and bear a demonstrated relationship to organizational performance.
Performance appraisal programs serve many purposes, but in general those purposes can be clustered into two ...

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