RECOGNIZING EMPLOYEE CONTRIBUTIONS WITH PAY

Concept and brief description:

In order to pay and give incentives to its employees, a structure can adopt different strategies depending on the job and on the expectations.

For individuals, the different types of pays are pieces of rates, standard hour plans, performance bonuses, merit pay, performance bonuses, and sales commissions.

For groups, a company can choose to to give incentives such as gain sharing, group bonus, or team awards.

Finally, a structure can give rewards to organizations such as profit sharing and stock ownership.

Emotional hook:

In a situation where the pay system is completely not adapted to the expectations or to the type of job, the incentives and motivating measures would be completely inefficient to increase productivity, profitability, and benefits of the company.

Key to elicit discussions:

A company needs to find other solutions and incentives to motivate its employees if the work conditions are too hard or if employees expect more than simply high wages.

Facilitative questions:

How can HR Management determine if salary systems are adapted to the job and to the expectations of the employees in order to create an efficient incentive system?