Describe the role of compensation in the workplace

Reference no: EM131153042

Research the reasons that employees are motivated to perform and assess the role of compensation in motivation. A motivated workforce is integral to organizational success and profitability. You'll create a compensation model using a motivation philosophy. A compensation plan that does not stem from a strong motivation core will not be sustainable. For a review of the Capstone project and scenario, see the Module 8 folder.

Though the number of employees has remained the same, productivity and profitability have slipped over the past three years. Ellard Williams has requested human resources to address the apparent lack of motivation and enthusiasm in the workplace, as evidenced by higher sick leave usage by employees and higher turnover, but to date no strategies have been developed.

In a brief survey with employees, compensation was seen as a primary impediment to worker satisfaction. At present, Ellard Williams compensates its employees at about 10 percent below the market, and there is a perception that most of the profitability gains accrue to senior management.

Develop a well-written paper that addresses the following, as requested by Ellard Williams.

Explain the main reasons that employees are motivated to perform in the workplace. In other words, what are the strategies or actions that motivate a typical organizational employee?

Describe the role of compensation in the workplace, including its effect/impact on employee performance

Create a compensation plan or model for Ellard Williams to adopt that will meet the needs of the employees, help attract talented employees, and not be cost prohibitive to adapt. Your compensation plan or model should reflect aspects of your motivation philosophy. Note: At present, Ellard Williams does not have the financial resources to compensate employees at market level; therefore, its compensation plan or model must reflect this limitation.

Your paper should meet the following requirements:

Be 3-4 pages in length
Include at least two different scholarly sources not utilized previously
APA Format

Reference no: EM131153042

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