This week, our focus will be on performance and compensation. This process can only be successful if managers and employees work together to set performance plans for the future. This week’s objective is to create a performance evaluation plan for the workplace. Have a great week!
Upon successful completion of this week’s lesson, you should be prepared to:
· Create a performance evaluation plan for the workplace
Review this week’s Learning Resources, especially:
· Employment Performance – https://www.youtube.com/watch?v=9-ILd9w2vng
Mello, J. (2015). Strategic Human Resources Management (4th edition). South-Western, Cengage Learning ISBN: 9781285426792
Respond to two or more of your colleagues’ posts in one or more of the following ways:
· Share an insight about what you learned from having read your peers’ postings and discuss how and why your peer’s posting resonated with you professionally and personally.
· Offer an example from your experience or observation that validates what your peer discussed.
· Offer specific suggestions that will help your peer build upon his or her own virtual communication.
· Offer further assessment or insight that could impact your peer’s future communications.
· 2-3 paragraphs per colleagues
· APA citing
· No plagiarism
1st Colleague – Susan Christmas
Susan Christmas – Week 6 Discussion
Top of Form
The discussion thread for Week 6 asks us how employees can maximize job performance in order to increase work compensation. I admit I have struggled with this question because I do not feel employees have much control over increasing work compensation. I have read the lectures and the textbook chapters, but still feel a bit confused. My understanding is the employer has control over work compensation and it is the responsibility of the employer to use strategies that are designed to maximize job performance. If an employee performs well, then they should be compensated appropriately.
According to Mello, compensation is more than just a pay raise. Compensation can take the form of enhanced, flexible benefits that meet individual needs and even preferences. The timing of compensation can also vary, as opposed to only providing compensation during annual performance reviews. Many organizations are providing compensation at individual levels instead of applying the same compensation to all employees simultaneously (Mello, 2015). Employees can work hard to prove they are a valuable asset to their organization and an increase in work compensation should naturally follow. If the employees truly believe they go above and beyond, and are exceptional employees, but receive no increase in work compensation, they should address that issue with their supervisor. If the organization still does not provide additional compensation, after a certain amount of time, then the employee would likely be better off working for an organization that shows they care about their employees. If employees feel they are not appropriately compensated they often begin to slack off and no longer perform at their maximum abilities. Employees often become disgruntled and feel like they are just being used by their organization and those feelings spread to other employees. These feelings create low morale and low production, which can be detrimental to any organization.
Mello, J. A. (2015). Strategic Human Resource Management. (4th ed.) Stramford, CT: Cengage Learning.
Bottom of Form
2nd Colleague – Tania Darder
Tania Darder – Week 6
Top of Form
How can employees maximize job performance in order to increase work compensation?
Before I joined the military and I worked at a pet store and we made commission based on the dollar amount sold. We could sell a $300 dog and make about a $5 commission on the dog along, the real commission came on selling all the other items. We were encourage to sell the open crates, food, bowls, toys and so on, so a $300 sale very quickly became a $1000 sale, increasing our commission. The same thing went with all the other animals we sold in the store. So the bigger the sale the bigger the commission.
In order to help motivate employees to maximize their performance some employers will strategize and provide compensation for their performance. Employees receive rewards for contributing to the company’s goals. In organizations focused on sales employers may offer their employee a percentage or commission based on their sales. Commission rates can vary, employees may not start to earn commission on sales until they have reached a baseline goal. Some employers may even set commission/incentive rewards based on tiers of sales. In other words, more sales bigger rewards. Other organizations may provide annual bonuses to the entire workforce or specific teams for meeting or exceeding the organization’s goals. Using a form of compensation system is a way that organizations can strategize to attract and retain talented employees. Some compensation systems include fixed versus variable, long versus short term, equity versus cash, and group versus individual compensation (Groysberg, 2021). Depending on the organization’s goals would depend what compensation system would be used to reward employees. In smaller organizations, like the pet shop, I worked for benefited by providing individual, variable, short term cash compensation. Larger organizations would benefit from the opposite to maintain and promote continuous growth for their employees.
Groysberg, B. (2021, January). Compensation Packages That Actually Drive Performance. Harvard Business Review. Retrieved from https://hbr.org/2021/01/compensation-packages-that-actually-drive-performance
Mello, J. (2015). Strategic Human Resource Management. 4th edition ebook. Cengage.