Traditional design principles typical of company

Assignment Help Science
Reference no: EM132353529

SEIIC's compensation and benefits programs are based on traditional design principles typical of a company of its age and history. For example, almost all employees receive annual pay increases of two to five percent. This is frustrating to both managers and high performing employees. Managers would like to give better pay raises to high performers. However, budgets are only enough to cover the "required" raises to all employees; this leaves too little for more significant raises to high performers. Naturally, as a result, high performers who feel underpaid often seek other employment. The company's policies have tended to reward seniority rather than performance, and because of the job evaluation system, compensation is tightly compressed. Benefits are thought to be generous in that the company pays for most of the cost. However, the structure of the benefits is rigid and only includes such traditional benefits as health insurance, life insurance, and a 401(k) plan.

The company recognizes that things are changing in its business environment, the needs of its people are changing, and business is more global than in the past. As part of the ongoing analysis of trends that should influence the redesign of HRM in the company, what are the relevant trends in compensation and benefits to which the company should pay the most attention to develop the kind of employees it needs and retain its most valuable performers? To answer this question, address the prompts:

Evaluate at least three trends or recent approaches in compensation that SEIIC should consider in its redesign effort, including the pros and cons of each.

Evaluate at least three trends or recent approaches in benefits that SEIIC should consider in its redesign effort, including the pros and cons of each.

Assess other intrinsic and extrinsic motivators that SEIIC should consider in its redesign effort, including pros and cons of those motivators.

Using your evaluation in the previous three sections (compensation, benefits, and intrinsic/extrinsic motivators), justify an action plan to develop and retain valuable performers in the organization.

Reference no: EM132353529

Questions Cloud

Contrast the major determinants of healthcare market power : Analyze the current health care delivery structure in your state. Compare and contrast the major determinants of healthcare market power.
Determine the optimal economic order quantity : (a) Determine the optimal economic order quantity (EOQ). (b) Compute the order frequency (= the number of orders per year).
How do these rules differ from rules for target firm manager : Describe the "rules" for bidding firm managers that were discussed in the text. How do these rules differ from the "rules" for target firm managers?
What is the economic production quantity : Production averages 100 units per day, while demand is 40 units per day. Holding costs are $2.00 per unit per year, and setup cost is $200.00.
Traditional design principles typical of company : SEIIC's compensation and benefits programs are based on traditional design principles typical of a company of its age and history.
What are two key roles of laws in our society : What are two key roles of laws in our society? Compare and contrast between a public health policy and a law.
Discuss fraud-abuse in medicare billing : Discuss Fraud-Abuse in Medicare billing. What policies and procedures to you think should be implemented to make sure healthcare providers remain in compliance
Discuss factors which are attributing to rising cost : Research Medicare and discuss factors which are attributing to rising cost. Provide solutions to how the problem with rising cost can be controlled?
Endoscopies are very common procedures : Endoscopies are very common procedures. Describe endoscopies and their importance to medical treatment. give an example of a diagnostic and surgical endoscopy.

Reviews

Write a Review

Science Questions & Answers

  Journal of pharmaceutical sciences

This journal is a scientific publication of Indian Pharmaceutical Association and highlights various bright points of it.

  Optical fibres

This document discuss about the main attributes and characteristics of optical fibres.

  Micro organisms

This project report reveals the fact and proves a specific objective mentioned to be studied upon.

  Describing histology of an organ

The discussion of the technique should include a literature review on the evolution of the technique.

  Interpret the sensitivity of mammography

Calculate and interpret the sensitivity of mammography. Diagnostic test with Sensitivity 50%, Specificity 50% and prevalence 50%. Crude mortality rate. Damage caused by motor vehicle accidents.

  Discuss the role that science plays in your daily life

Role that science plays in your daily life and Integrity, Intensity, Innovation, and involvement in scientific field

  Prepare a flexible budget gator divers

Prepare a Flexible Budget Gator Divers is a company that provides diving services such as underwater ship repairs to clients in the Tampa Bay area.

  Neurological disorders

Designing a neuroprosthesis for the neurological disorders

  Complexity of cell surfaces

Lipid rafts provide another example of the complexity of cell surfaces in both their structural character and biologic functionality. Please explain the nature of these structures and their functionality.

  Exploratory activity on bird beaks

Describe how natural selection and evolution are demonstrated by this activity

  Spatial and temporal variation of heat content in the upper

In this study the temporal and spatial variation of heat content in the upper 70m layer of the Arabian Sea was for a period of 1991 to 2008 have been attempted.

  Earthquake databases

Earthquake Databases

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd