PAY SYSTEM plays a crucial role when managers are looking for ways to retain and motivate employees. Higher employee turnover rate can have a demoralizing impact on company's performance and is usually connected with an unfair pay system whereby some employees' feel that their hard work is not being rewarded adequately and thus choose to leave the firm for better opportunities.
Management literature and some actual examples reveal that the best pay system is the one that is based on employee performance. When pay system is tied to performance, we call it 'paying for performance'. This system ensures that effort, dedication and commitment of each and every employee is properly rewarded and that hard work doesn't go unnoticed. For this reason, it is important to develop a proper system of performance measurement, which helps in designing a better and performance-based pay system.
Measurement of performance and paying for...
This also implies inadequacies in fiscal sustainability, which influences investments in private sectors. The second channel happens through the level, composition and quality involved within the public investment, which shows the level at which the public investment replaces the private investments (Schmidt- Hebbel, Serven, & Solimano, 1996). The final channel regards the level of taxation on the corporate earnings and the rules applicable in depreciations. There have been arguments that fiscal policy
The education sector with all its capacities for delivering knowledge and training has an important role to play in the rebuilding process. Finally, because education intersects with almost every sector and theme in peace-building, it warrants its own examination of the competencies, skills and resources needed to make the kinds of contributions demanded of it." (Ibid) Further stated is that "Formal education covers the knowledge, skills and training obtained through
Reward and Pay Strategy for Employees of a Company Assessment of the organization in terms of its organizational strategy, objectives, mission and values Organizational strategy of Coca-Cola Company As a large co-operate institution, the company looks at its future with a view to dominating the beverage industry globally. The company has recorded tremendous growth for the past few decades. The growth is never a normal escalation of production level but also an expansion,
United States Federal Reserve System: The Federal Reserve System or the Fed was established by President Wilson in December 1913 to promote the development of a stable, flexible, and safer financial system in the country. President Wilson enacted the Federal Reserve Act, which was a conclusion of the findings of a commission that was mandated with the task of examining the 1907 severe bank panic. Since its inception, the Federal Reserve
New Payroll Application Architecture One of the most commonly automated business processes and operations in the recent past is payroll, which is also the most often used human resource solution. The increased use and automation of payroll is attributable to the need to ease and reduce the time spent in payroll processes, which is one of the first applications in the working environment. Despite the increased automation of payroll, there are
A view of this event captures an incredible sea of worshippers flowing like a human river in the footsteps of the prophet Mohammed, who it is said arrived at this spot some 1400 years ago to pay homage to Abraham. The role of the woman as it is understood through the ritual reenactments are quite different from the unequal stance which is often assumed of Muslim women today, with Hagar
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