Question

Describe the type of pay structure (merit, pay-for-performance, et cetera) that exists in your current workplace...

Describe the type of pay structure (merit, pay-for-performance, et cetera) that exists in your current workplace or a previous workplace. How satisfied were you and other employees with this pay structure? What improvements would you recommend to improve employee satisfaction with your workplace's pay structure?

Homework Answers

Answer #1

Pay structure at companies like Vodafone is comprised of three components namely :

  1. Fixed pay
  2. Variable pay based on company performance
  3. Individuals bonus based on individuals performance
  4. Long term stock options over and above total payout

Employees were highly satisfied as they found rewarding and saw higjer productivity due to variable payments and saw better longevity and lower turnovers rate due to long term stock options.

The above package however lacked paid leaves, additional non monetary benefits like insurance, maternity paternal leaves, on site opportunities, training, etc which if added would make it comprehensive and lucrative.

PLEASE UPVOTE INCASE YOU LIKED THE ANSWER WILL BE ENCOURAGING FOR US THANKYOU VERY MUCH ALL THE BEST IN FUTURE

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Describe your job responsibilities and performance at your current workplace(IT Company) at this point of your...
Describe your job responsibilities and performance at your current workplace(IT Company) at this point of your MBA educational journey. Please answer in 350 words and owrd format only. THANKS
describe the business of your dreams (what type of business is it, where would it be...
describe the business of your dreams (what type of business is it, where would it be located, how many employees, etc.). As you plan for your dream business, how would you structure it (LLC, LLP, S-Corp, etc.) and why would this structure be best for your business?
In this paper, you will compare and contrast pay structures used by two different businesses. For...
In this paper, you will compare and contrast pay structures used by two different businesses. For example, you could choose between Apple and Dell, Target and Kohl's, OR Walmart and Meijer’s. The businesses you compare should provide similar products and/or services and be in close proximity, such as the same city or state. Review articles and videos found throughout the course and/or search the Internet to find articles relating to how your two chosen organizations differ or are similar in...
Individual incentives are one (1) way to reward employees for their performance. If your current position...
Individual incentives are one (1) way to reward employees for their performance. If your current position offers incentives, explain what type of incentives you can receive and how it helps performance. If your current position does not offer incentives, do you believe your company or organization needs to add incentives? Explain why or why not.
1. Describe an activity or project at your workplace when you have used and showed your...
1. Describe an activity or project at your workplace when you have used and showed your own initiative? (Non I.T. Industry) 2. What project or critical activity you are/were involved in during this work experience that is so important to your experience that you will highlight on your resume for your future job? Describe in details the project/activity and the extent of your involvement and the outcome. Describe why this experience stands out as an important one for your career....
After several months of searching your company has just hired a new CEO. Your previous CEO...
After several months of searching your company has just hired a new CEO. Your previous CEO was hard-nosed and it was his way or the highway. During his tenure with the company employee withdrawal was at an all time high to the point where the good employees had left for greener pastures and you were left with employees with high levels of continuance commitment. You have great hope that the new CEO will be able to turn the company around...
CASE C: Rewards at Graniterock Graniterock utilizes a number of strategies to recognize and reward performance....
CASE C: Rewards at Graniterock Graniterock utilizes a number of strategies to recognize and reward performance. Graniterock provides materials to the construction industry, including products such as asphalt, concrete, and building materials. The US-based company employs 750 people. The company utilizes both financial and nonfinancial incentives. Employees earn bonus pay of as much as $1,000 for specific performance achievements that require an effort that go “above and beyond” normal job expectations. Several nonfinancial incentives are also utilized, such as a...
Strategic Surveys In order to monitor the satisfaction levels of employees and determine whether or not...
Strategic Surveys In order to monitor the satisfaction levels of employees and determine whether or not turnover will be an issue, an organization should implement some type of survey to receive feedback. Feedback can be used to address areas of dissatisfaction and improve attitudes in the workplace. It may also allow companies to have a means of comparison to other organizations in their industry. Most companies benefit from using existing measures that rely on workers' self-reports, as these measures often...
Strategic Surveys In order to monitor the satisfaction levels of employees and determine whether or not...
Strategic Surveys In order to monitor the satisfaction levels of employees and determine whether or not turnover will be an issue, an organization should implement some type of survey to receive feedback. Feedback can be used to address areas of dissatisfaction and improve attitudes in the workplace. It may also allow companies to have a means of comparison to other organizations in their industry. Most companies benefit from using existing measures that rely on workers' self-reports, as these measures often...
Employees are a company’s greatest asset. Yet many companies treat their employees poorly. Sadly, our system...
Employees are a company’s greatest asset. Yet many companies treat their employees poorly. Sadly, our system has fallen into a self-reinforcing command loop construct as follows: Increase shareholder value at all costs without regard for the human factor. The greatest investment you can make is in people. Employees are the backbone of any organization. According to research conducted by Gallup, disengaged employees cost companies $450-to-$550 billion in lost productivity each year because of poor performance and high absenteeism. Investment in...