Chapter 6: Applied Performance Practices

OBHR

What are some of the meaning of money at work?

money is more then a form of exchange…

1. its relates to needs and self concepts, and it generates emotions

2. its viewed as instrumental value or for its won sake

3. money ethic concepts such as if it is perceived as not evil, symbol of achievement or something of value to be budgeted

4. gender and cross culture differences in the meaning of money

5. money motivates more then people previously beilved
   

What are membership/seniority-based rewards?

they’re a type of reward system that gives employees pay and benefits based on how long they’ve been with the company not how well they work.

What are some advantages of membership/seniority-based rewards?

1. they may attract job applicants 

2. There are less turnovers with seniority 

What are some disadvantages of membership/seniority-based rewards?

1. Doesnt directly motivate job performance 

2. may discourage poor performers from leaving 

3. may act as golden handcuffs 

   1. these handcuffs are financial benefits to prevent employees from leaving

what are job status based rewards

Job Status-Based Rewards are rewards (like pay and benefits) that depend on an employee’s position or level in the organization — not their performance or seniority, but the rank or title of their job.

what are job status based rewards include?

1. they include job evaluation and status perks 

2. Job evaluation: eystematically rating worth of jobs 

what are advantages job status based rewards?

1. internal pay equity which identifies unfair pay discrimination

2. motivates competition for promotions  

what are disadvantages job status based rewards?

1. the econourage buercratic hierachy 

2. they reinforce status vs egalitarian culture 

3. employees exaggerate duties, horad resoruces 

What are competency based rewards?

Competency-Based Rewards are rewards given based what skills, knowledge, and abilities an employee have — rather than their job title, seniority, or performance results.

What are advantages of competency based rewards?

1. they motivate learning new skills 

2. develops multi skilled, flexible, adaptive employees 

3. higher product.service quaility 

What are disadvantages competency based rewards?

1. they’re over designed(complex) 

2. potentially subjective 

3. higher training cost 

What are performance based rewards?

Performance-Based Rewards are rewards given based on how well an employee performs — their results, achievements, or productivity.

what are individual performance based rewards?

They’re induvidual bonus, peice rates and commissions

What team performance based rewards?

they’re team bonus, gainsharing plans

What are organizational performance based rewards?

companywide bonus, ESOPs, share options and profit sharing

What are evaluating organizational rewards performance based rewards? (3 points)

1. ESOP’s and share options create “ownership culture”

2. profit sharing adjusts pay with firms prosperity

3. Problem: organizational rewards have weak P-O link