Presentation paper Essay Example | Topics and Well Written Essays - 750 words

Presentation paper - Essay ExampleHowever, merit afford has been used to develop the standard take overment coordinate that is common and applicable to all the employees (World at dissemble 60). Merit pay is as described as pay for feat based on the results rophy on a standard operative module. It is an approach to compensation that rewards well performing employee. It focuses on religious offering additional pay for the best performing employees. Despite the challenges, the merit pay system has several advantages. First, it enables the employer to tick between high and low performers in the company. Unlike the profit sharing or bonus pay final causes, it allows the employer to differentiate between performances of employees. While there are several programs and intrigues are developed to reward general performance of employees, merit pay offers compensation for strong performers. Merit pay allows the employer to recognize individual performance once meaning to continue be nefiting from the scheme the employee must be able to continue the performing utterly (Jiang, Xiao and Qi 67). Despite the numerous advantages of the scheme, it has been found that it does not offer a better support implement to the employees and the employer. The failure to address the essential issues that may affect performance both the group and individual makes the scheme non-effective. The scheme lacks accuracy affecting its ability to differentiate the ability of the individual employees. The success of the scheme has been cut back by the increasing dynamism in human behavior and factors that affect performance. The merit pay structure is different and creates a serious challenge in managing workers. The use of the total reward system has taken over the development of compensation structures. The total reward scheme is a program developed, by employers, to attract, motivate, and carry employees. The main focus of the program is to include eachthing the employee perceive s to be value resulting from the employment relationships. The concept has been advanced tremendously through evaluation and restructuring of the touch of rewarding employees. When developing a total reward system, analyzing the need of every employee in the team (Jiang, Xiao and Qi 112). The development of a total reward scheme involves six go with the first phase of the process in analyzing. The process of analyzing the needs of the employees includes the examining of the current policies. After analysis, the figure of speech process will involve the determination of compensation and the compensation strategies that can be employed in the process. During the design process, all the available approaches in total reward schemes. After the design, of the total reward scheme, the development of the picture and operation strategy involves the use of the various methods (World at Work 45). After the creation of the necessary excogitate and strategy, the plan must be communicated t o the employees, so that they understand the reward scheme. Additionally, communication in the company is live because of the various reasons. Communication facilitates the development process, and the reasons of promotion and wage level setting. The success of the total reward scheme will depend on the various factors including the management design of the process (World at Work 213). The cellular inclusion of all the factors that affect motivation and employee welfare will ensure that the total reward scheme is perfect. In conclusion, the total reward scheme is based on the inclusion of all