sample
Haven't found the Essay You Want?
For Only $12.90/page

Incentive Essay Topics & Paper Examples

Incentive Plans

Establishing effective incentive plans in an organization is a milestone in promoting employee and stakeholder commitment to the mission and objectives of the company. This is because to serve as and engagement and motivational practice to these members (Ellig, 2007). Different organizations assume varied approaches in making incentive plan policies; all of which are tailored towards the sustainable realization of their objectives. The author will critically analyze the incentive plans of the Coca Cola Company. A discussion on whether the incentive plans help the organization to achieve its goals and objectives is also given. The Coca Cola Company management employs economic value added and economic profit viewpoint as a strategic measure for its growth (Wilson, 1999). To achieve this, the…

Incentive Plans

Incentives play a key role in the development of an organization. This knowledge is a fairly straightforward fact and has been recognized and realized by managers all over the world. In fact, not only does incentives affect the actual and real life operations of a company, but academic theory in labor economics has also pointed out the importance of the interactions of incentives, the operations of a firm, and even the final product of output – or services – that the company is able to produce (Schuler & Jackson, 2006). Although there are indeed many examples of the use of incentives of a firm in order to meet the objectives that the company has laid out in both its short…

Compensation and Benefits Strategies Recommendations

In this scenario, Team A has agreed to work with a small business, Landslide Limousine. Bradley Stonefield is our client whom we must develop some compensation and benefit recommendations. Landslide Limousine is a small business with approximately 25 employees that is located in Austin, Texas. First, Team A will conduct a market evaluation by researching what companies in the relevant market are providing to employees from a total compensation perspective. Second, recommend a compensation structure. Third, recommend the position in the market. Fourth, create a total compensation and benefits strategy. Fifth, consider the use of performance incentives and merit pay to recognize and engage employees. Lastly, identify laws related to the benefits and pay program. Market Evaluation On account of…

Alliston Instruments-Case Study

Executive Summary In 2011 two Asian firms entered the Canadian market in 2011. An Asian competitor made a major sales push by slashing prices in late 2011, cutting dramatically into Alliston’s sales in 2012. This move caused Alliston to lay-off 50 employees their largest layoff in company history. Alliston introduces new products to its line to counter the Asian firm but employees had no interest in working on the new products and preferred the old products to work on. Alliston in late 2012 in an effort to increase efficiency persuaded the union to accept an incentive program in exchange for job security. An individual performance pay plan was implemented with no detailed records to set standards. Standards were based on…

Compensation and Benefits Strategies Recommendations

As we put this paper together, let’s make sure we cover all the requirements: Conduct a market evaluation by researching what companies in the relevant market are providing to employees from a total compensation perspective. Recommend a compensation structure. Recommend the position in the market. Create a total compensation and benefits strategy. Consider the use of performance incentives and merit pay to recognize and engage employees. Identify laws related to the benefits and pay program. A. Cody – Comparable to other businesses in the Area (what should the client choose as a benefit package)? Austin, TX average salary for a driver with experience is 38k. Other services are hiring in new drivers with clean credentials for $15 an hour plus…

Compensation Plan – University of Phoenix – HRM

A good compensation plan must include both aspects, financial and nonfinancial of a rewarding system where financial rewards, or a pay system, “assign a monetary value to each job in the organization (a base rate) and an orderly procedure for increasing the base rate (e.g., based on merit, inflation, or some combination of the two)” (Cascio, 2005, p. 425). Also, “a properly designed Pay for Performance (PFP) Program enables companies to reduce their cost of labor while increasing the average take home pay of their workforce” (Jensen, 2009). On the other hand we also will offer nonfinancial systems that will cover indirect aspects such as benefits, professional and personal development. We want to give our “sales staff a reason to…

Harley-Davidson’s Motivational Programs

History of Harley-Davidson:Today it is hard to imagine Harley-Davidson (Harley) as a low-quality motorcycle manufacturer in severe financial trouble. But that’s exactly what Harley was in the beginning of the 1980’s. Harley motorcycles were of such poor quality that over half of all the cycles produced were effectively inoperable because of missing parts or poor assembly. When Japanese motorcycle manufacturers entered the US market th reliable and well-built bikes, past and potential Harley customers switched over to the foreign brand. The only customers that remained with Harley were its most loyal, technologically savvy ones who were committed to the Harley brand name. As a result, between 1973 and the early 1980’s, Harley’s market share dropped from over 75% to under…

Case Study Analysis Lincoln Electric: Venturing Abroad

Lincoln Electric (LE) has been a producer of electrical and welding technology products since the late 1800’s. The company remained primarily a family and employee held company until 1995, then approximately 40% of its equity went to the public. James Lincoln, one of the founders, developed unique management techniques that effectively motivated the employees. These management techniques were implemented as an unusual (for the era) structure of compensation and benefits called “incentive management”. The incentive management system consisted of four key areas: factory jobs based solely on piecework output; a year-end bonus that could equal or exceeded an individual’s regular pay; guaranteed employment; and limited benefits. Management successors to James Lincoln continued with this successful philosophy even during hard times….

Sites of Ron Jon Surf Shop

1)Access the web sites of Ron Jon Surf Shop (http://www.ronjonsurfshop.com/) and Hilo Hattie (http://www.hilohattie.com/aloha/). Explain how the two companies are similar and how they are different. Can you find elements of organizational planning, organizing, staffing, leading, and control in their web content? Provide specific examples. Respond substantively to two other learners. Ron Jon’s and Hilo Hattie’s are similar in quite a few ways. They both started as retail stores selling products to consumers. They both have adapted to the changing of the times. They both now offer other services. For example, Hattie’s now offers coffee and food in one of their locations. Ron Jon’s offers a variety of services to include a resort and surf school. The companies are different…

Performance Management System

Purposes: – * It will be linked on performance, be a fair and transparent system * Rewarding the employees for their contribution to the growth of the organization in alignment with the strategic organizational goals * Rewarding their achievements as well as their contribution to their teams * Motivating individuals by indicating their position in the organization structure. * Motivate the employees in order to increase their efficiency * Foster a healthy employment relationship and commitment. Use – This system will be a vital component of the performance appraisal process as it will interpret the evaluation of the entire process and route the end result to a more meaningful conclusion for the appraise and the appraiser. It system will be…

Financial and Non Financial Incentives

“Incentives are nothing but the inducements provided to employees in order to motivate them” What motivates an employee to exceeding levels of performance? Performance is driven by motivation and motivation is driven by rewards or incentives. Incentives are the chief source of motivating people and is the key driver of employee behavior, effort and motivation. When we explore the Maslow theory we see that incentives also play a role in satisfying the social, psychological and security needs of an individual. Employee motivation, linked to both financial and non financial incentives, is essential to success in any organization and if you fail to get this right then there will be a big price to pay. Get it right and the spin…

Electronic Health Records and Our Government

Electronic Health Records involvement in health care reform is at the main focus of lowering the cost to make care more affordable and improvement in the quality of care patients receive. The transition to electronic health records for the last couple years have been driven by offered incentives through the government. As the time pass by the popularity of electronic health record system increase more and more. EHR Systems involvement with government health care reforms in 2010 Financial incentives were aligned to encourage the adoption of EHR. To further support the transition to EHR funds were also provided to train health care professionals on how to us EHR in a meaningful manner. The incentives decline every year until 2015 when…

Project Management Plan Employee

Attracting skilled employees is often important and often difficult. Employers face major challenges when they consider the increasing difficulty of finding skilled people every company should have an employee incentive program if it is sales and especially for university enrollment advisors because they are the ones that bring business into the university. The project scope of Title IV of the Higher Education Act of 1965 strict accreditation regulations and laws prevent the university from offering bonuses to employees who enroll students. The work breakdown structure for the employee incentive program consists of activities/attributes, milestones stakeholders, stakeholders needs, tools and techniques. Activities/attributes Create a list of creative ideas Have employees take a survey once a year Boost employee morale and set…

“Freakonomics” by Steven D. Levitt and Stephen J. Dubner

Freakonomics, by Steven D. Levitt and Stephen J. Dubner, is book that not your typical economist would write it was co-authored in 2005 and if morality represents how we would like the world to work, then economics represent how it actually does work in this award-winning book. Steven D. Levitt is a not your typical economist. He is a much-heralded scholar who studies the riddles of everyday life- from cheating and crime to sports and child rearing and whose conclusions turn the conventional wisdom on its head (freakonomics.com). Stephen J. Dubner is an award-winning author and journalist (freakonomics.com). These two authors team up to create a very insightful groundbreaking collaboration. They set out to to explore the inner workings of…

Siemens ShareNet : Building a Knowledge Network

Case Background: Siemen’s Information and Communication Network’s (ICN) Group Strategy Division had been delegated with the task of proposing a strategy for the future of ShareNet. ShareNet, a Knowledge Management System had grown from a small experiment to a tool and was widely used by ICN’s Sales and marketing department (S&M), had been rolled out to R&D department and one of the Siemen’s large U.S. Client. There had been a meltdown in the telecommunications industry which had precipitated major cutbacks throughout ICN.Group Strategy team faced pressure to cut costs and as a result, ShareNet was likely to come under increasing scrutiny as it been viewed by the upper management as a “ Nice to Have” and not as a “…

Puente Hill Toyota

Puente Hills Toyota (PHT) is a large Toyota dealership which is owned by the corporation Hitchcock Automotive Services. PHT is situated in city of industry, California, about 25 miles east of Los Angeles. PHT offers a wide variety of new and used cars (this is unique in the industry). Furthermore they offer Toyota incentives, service specials, and Toyota parts savings. The annual profits of PHT totaled about $1.8, with annual sales of $ 85 million. PHT had a total of 145 employees. The employees are very valuable to PHT due they are the ones who have to advise the customer, sell the vehicles and repair them. But it is hard to keep them al motivated. As said by Howard Hakes;…

Compensation and benefit programs

Compensation and benefit programs for employees need to be an exceptional offer that is developed to attract and retain the best and talented employees. A merit pay compensation strategy is used for an incentive pay based on goals and achievements set by the employer. Compensations that are recommended for this company is a health benefit package that is managed by the employees. This package consists of medical, vision, and dental coverage. The medical insurance is PPO and HMO of choice. Dental coverage has a limit per person of $1500 of service a year. Vision has free yearly eye exam and discount cost on eyewear. This will make the employees feel proud and valued to work for this organization. Conclusion The…

The Value of Hrm to Business Organisations

The value of HRM to business organisations Section 1: Literature Review The approach to the employment of people experienced a major shift from traditional personnel management towards human resource management (HRM) in 1980s, when the deflation and recession crashed into the infrastructure of employment. After that shift, the employees were more likely assumed as valuable assets and a key source of competitive advantage (Marchington and Wilkinson, 2002), and the effective management of ‘resourceful humans’ tended to be seen as a crucial approach to improve organizational performance through ‘the strategic deployment of a highly committed and capable workforce using an array of cultural, structural and personnel techniques’ (Storey, 2007, p.7). As an integral and prominent part of HRM, the pay and…

ABC STEEL COMPANY

VIEWPOINT:a) Mr. Robert Cruz, newly appointed Shop Manager of ABC Steel Company. The company had placed Mr. Robert in charge of all shop operations; OR b) Top Management TIME CONTEXT:At present I.PROBLEM STATEMENT: How can ABC Steel Company avoid delays in the production and delivery of the products to the customer? II.STATEMENT OF THE OBJECTIVE To strictly comply with the stated delivery schedule requirement of the customer in recently placed orders and fully accomplish the backlogs within three (3) months. III.AREAS OF CONSIDERATION A.STRENGTH 1.ABC Company was one of the country’s largest producers of fabricated steel products. The company fabricated and installed storage tanks, mine and cane car bodies, dump bodies, boats and many types of structural steel. 2. ABC…