Pay Decisions at Performance Sports

Pay Decisions at Performance Sports

1. Perkins and Balkin should consider the following factors when setting the new position; they should start by establishing a starting range salary, how much do the newly hired employees make? This information is obtained by either talking to your peers or get it from the human resource department. They should also look at similar positions across the company; how much are they paying the new individuals in their company in their jobs. Another factor is to try and find out what the competitors pay. They can use salary surveys on the glass door to determine the average wage for the purchasing agent position in the city or industry (Galindo, 2017). Considering that nonmonetary perks are another essential factor for many applicants, the experience and quality of work are more significant than the paycheck size. The last factor is they should check their organization’s budget. The room should be made on their budget for the benefits and salaries in that year and years to come. Put more focus on the projected growth of the wages, including the living costs, the bonus, and increase in promotions (Wang et al., 2018).
2. Pay for performance is a strategy of compensation that uses salary, bonuses, or other benefits to motivate the work performance of employees directly. This method is said to be useful as it brings about motivation to the workers. Workers are said to be significantly driven by the concerns that are finance related. A worker tends to work harder when back in mind he or she knows that upon achieving the organization’s objectives and goals, there is an increase in compensation. Another pro is that there is the retention of the top talent (Gerhart &Fang, 2017). There are expectations that the senior talent employee in the performance company will have several employers’ approaches.If Perkins and Balkin want to have a retention of their workers, they should offer this compensation package to survive in the competitive industry. There are also disadvantages to this as the measurement of the performance is always subjective. The work of some employees can be easily measured and qualified. However, many of the employees, for example, those having managerial roles, tend to perform vital functions, but the achievements of specific goals do not define them. To them, this plan can be very disappointing as their evaluation is more subjective. Another con is the reviews concerning performance are falling out of favor. Many employees tend to find the annual reports of the pay-performance studies not useful. It is leaving them in support of the manager’s encouragement to give out the outcomes to the workers throughout the year (Foroni et al., 2018).
3. Customer service should be given the Competence-based pay to ensure that they are retained as they are the ones that provide the customers’ orders are well taken care of. Losing those two workers means the company’s sales and services will be reduced hence low profits. Please provide them with compensation and make them stay (Van Yperen, 2017).

Evaluate the Work-Life Climate in Your Company

1. Yes: there is more need to maintaining excellent relations for us all in the company to be productive as everyone has his or her problems effectively. This has helped in the growth of the company.
2. It is not so easy for me to manage both home and work, but then with several tips offered online and me putting them into practice, I will be able to be successful both in balancing the job and also the wellbeing of the mind.
3. My career path is limited as the pressure both from home and at work. Still, then I feel more engaged when I have a belief that my employee is concerned about my growth and also provides me avenues that will help me reach my career goals as I continue to fulfill the company’s main objective.
4. My job does not help me build the quality of life I expect, putting in mind that managing my bills using my monthly payment is not so enough for me. I need to go the extra mile to put all the wants in a better position but not to quality.
5. My manager is very much supportive when it comes to having issues with home life. When in need of some time to look at both my family, he gives me the leaves, enabling me to make better solutions in home-based challenges.
6. The only thing that is considered by my manager is the quality of work I have delivered to him. This is because the only goal is to provide work that is of quality and contribution to the purposes of the company.
7. My boss is flexible with the work hour practices as I can have alterations on the start and finish time but in a condition that good work is done.
8. My supervisor considers my opinions on the work structures that tend to be an alteration to the time or place that work takes place daily. This makes it easy on my side as there is more flexibility in the working hours (Cole, 2006).
9. Inflexibility and insensitivity is not part of my manager’s traits. He is so understanding as he is easily adjustable if requested.
10. The respect my manager has for me, and the other workers are as acknowledgeable as he has an understanding of each member.
11. Yes, there is inflexibility that is informal at times, and he considers it, having in mind at the remote end work will be submitted.
12. My manager never underestimates or treats us as children as he listens to all our opinions and gives a final decision.
13. Treating us equally for our jobs are done is what my manager is good at. He never does things in favor of me or any other workmate. This makes us all feel wanted in the company.
14. His knowledge about me makes him a caring person as he always gives me extra time to finish up my tasks and listens to what I request for putting it into consideration.
15. This is the best place to be. If you want a peaceful and encouraging working environment, this is where I recommend you to apply.
16. My work is considered as one of the important ones towards the company’s success as well as that of the others. For without me in the department, something will be lacking in the company.
17. I have never thought of quitting this company as I find more peace here, and it is like being home.
18. I don’t need more respect from the one I have from both the administration and my colleagues am satisfied with all the privileges I have.
19. No flexibility like the one in this company can be experienced elsewhere. I am kind and am going nowhere.
20. I will always give my company the best I got for us all to achieve our main objectives. So yes, I am committed to this company till the achievement of our last goal.

References

Foroni, C., Furlanetto, F., & Lepetit, A. (2018). Labor supply factors and economic fluctuations. International Economic Review, 59(3), 1491-1510.

Borraz, F., Licandro Ferrando, G. M., & Sola, D. (2017). Wage and price setting: New evidence from Uruguayan firms.

Gerhart, B. A., R. R. Y., & Fang, M. E. I. Y. U. (2017). Competence and pay for performance. Handbook of Competence and Motivation: Theory and Application, 232-250.

Galindo, M. G. (2017). Big Data within Service Organizations: Developing and Executing a Competitive Advantage-A Resource-Based Perspective.

Van Yperen, N. W. (2017). Competence and the workplace.

Wang, T., Thornhill, S., & Zhao, B. (2018). Pay‐for‐performance, employee participation, and SME performance. Journal of Small Business Management, 56(3), 412-434.

Cole, G. A. (2006). Flexibility and the workplace: the battle to control working time. International Journal of Law and Management, 48(6), 536.