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 a goal for employees Provide a positive working environment Retain employees Diversity of activities Develop skills and potential Employees need to be more involved and engaged
Communication to employees Milestones Approval of incentive program Incentives must follow rules/regulations Responsibilities Personal growth Stakeholders University, Student, Employees Rewards are financial and non-financial Submit ideas to stakeholders because then they will know what works best Recognize and reward employees Days off Company outings Paid vacations Stakeholders needs University needs money Employees need incentives rewards, appreciation Students need education Tools Techniques Direct approach networking Employees plus number of students who enroll Merit Increase Salary increase is based on the number of students the employee enrolls Use of an organizational chart to understand roles responsibilities Tell your employees how well they are doing Employee parking for the month The employer and the employee have to have a balanced practical reward strategic model to improve business results and align employees behavior.
The employer should have organization capabilities, business strategy and organization structure that leads to an employment deal for competencies, demographics, and values. With that employment deal it leads to a total reward strategy with pay, benefit, learning and development, and a good work environment. The basic salaries of the project team members will not be changed. However, special compensation will be given for their overtime and travels related to the project. After the project is completed, all team members will be evaluated and those who will receive satisfactory and very satisfactory performance appraisal result will be given financial rewards. The total reward policy should state that although contingent rewards play an important part in the reward policies of the organization other forms of non-financial reward are regarded as being equally important. The reward system is an important means of communication. The effective reward strategy consists of well-defined goals and objectives, well designed pay and rewards programs according to the needs and an effective and supportive human resources department.
The performance related pay can be based off score driven bonus, customer satisfaction surveys, shareholder returns profitability versus target, process excellence, learn and grow. These rewards can bring in some conflict with employees if some or one employee does not get any customer satisfaction surveys, absence of learning and development, lack of customer service awards, lack of relationship between pay and performance, pay levels and benefits entitlement strongly related to the length of service, and lack of variable of portion of pay. This is something that will have to be explained to all employees from the first day of hire. The considerations for rewards are the level of rewards, the relative importance attached to market rates and equity, attraction and retention, the relationships of rewards to business performance, and total reward policy, the scope for the use of contingent rewards related to performance, competence, contribution or skills, assimilation policies, the degree of flexibility required, the role of line managers, involve employees in the design of reward system, communicate the reward policies to employees, transparency.
Market rate and equity policy needs to be formulated on the extent to which rewards are market driven rather than equitable. Should obtain and keep high quality staff and response to market pressures. Market considerations will derive levels of pay in the organization. Attraction policies should have career prospects, training and development, intrinsic interest of the work, flexible working arrangements, and work life balance. Retention policies should consist of Talent management (attraction and retention of quality employees). Talent management policies are to attract employees, to develop employees, rretain employees, and mmotivate employees. Talent management process is wwork life balance, lleadership qualities of line managers, recognition, cconducting talent audits. Assimilation policies is how existing employees should be assimilated into revised pay structure such as red circling (identifying and dealing with overpaid people) and Green circling (identifying and dealing with underpaid people). The three performance measurement practices to be compared in this presentation are written, confidential evaluation non-confidential evaluation, and oral evaluation. Written, confidential evaluation can be conducted by a project manager.
Since it is confidential, the results are not shown to the employee being evaluated. The use of confidential forms is not preferred because it may be contrary to government regulations and it does not provide the necessary feedback for an employee to improve (Kerzner, 2013). Non-confidential evaluation is preferred by project managers and functional managers because the results can be seen by the employees allowing them to have feedback to improve. However, it could also be difficult for the project managers when the employee is assigned to the same project after the evaluation. It could create biased results because the PM might avoid a bad working relationship with the employee or that he or she does not want to be blamed for the employees below-average merit for pay increase. Oral evaluation is also one of the commonly used performance measurement practices. It is commonly used but not preferred by project managers and functional managers because of the lack of documentation which is necessary for monitoring employee progress.
It could also result to lack of feedback for employee to improve. Human resources (HR) staff often struggles to obtain the resources they need to effectively manage people in the workplace. HR staff is spending more time recruiting, hiring and training replacements. The HR plan is that the policy applies to all staff. Reward policies provide guidelines for the implementation of reward strategies and the design and management of reward process. HR Plan – Employee Recognition Award – Criteria for the award should be determined in consultation with the HR Office. Discretionary Bonus – A division/department should consult with the HR office and obtain the necessary approvals Incentive – Payments predefined in an approved plan document should be confirmed by the Plan Administrator and HR office. Tax treatment of bonus payment – Employee recognition awards may be grossed up to cover taxes if the documented award plan provisions indicate that such payment will be grossed up Reason for policy This policy provides managers and supervisors with guidelines and procedures for bonus and incentive pays.
Procedures Approvals are needed for individual payments Sanctions Managers, supervisors and employees who violate this policy are subject to disciplinary action, up to and including termination. A company who truly invests in their employers by analyzing the all benefits that each function of HR provides to its business, a company can identify assets, in the form of employee support systems that most efficiently increase the value that high-potential employees provide to the university. Companies who increase employee productivity and contributions to their organizations will have a great outcome at their university.
Kerzner, PhD., H. (2013). Project Management A Systems Approach to Planning, Scheduling, and Controlling (11th Ed.). Hoboken, New Jersey John Wiley Son, Inc. A Guide to the Project Management Body of Knowledge (PMBOK Guide), Fifth Edition by Project Management Institute.