The Importance of Salary Surveys in Designing a Fair Remuneration Plan
Bob has created the estimated salary data of different brands for several positions. The main purpose for salary surveys is to find out the median or average compensation that is paid to the employees. The salary surveys help in determining the wage level according to the position available (Robbins, 2017). It also supports in knowing the wage trend that is going in the market by checking the salary that is offered by different company. It also helps in identifying the compensation structure that cones the basis pay, bonus and other benefits plan. The salary surveys might help Bob in many ways as it will allow him to design the best remuneration plan so that a fair reward plan is created. Additionally, it is true that salary surveys have become immensely important as it identifies the elements of managerial dimension (Houldsworth & Brewster, 2016). Salary survey allows having a brief look on salary as well as other perquisites benefits (Freund, Everett, Griffiths, Hudon, Naccarella & Laurant, 2015). It also helps in designing a fair compensation system by gathering the information according to the industry standards. Thus, the data analysed will be helpful for Bob at time of hiring new employees.
Bob need to take certain steps to achieve these objectives this can be done by spreading awareness about the benefits of using gardening architecture. Once people are aware about its advantage the demand will automatically increase and it will boost up the profit margin (Freund, Everett, Griffiths, Hudon, Naccarella & Laurant, 2015). Bob after hiring the employees should also have a one-on-one interaction so that basis of remuneration is provided to new staff (Tayoun, et. al, 2016). Remuneration is not only used to offer fair reward to new staff members but also used to retain them. The further opportunities and benefits that will be gained by the employees should be showcased by Bob so that determination to work gets boosted (Robbins, 2017). Once the staffs have joined the business, Bob should explain them with the incentive plan and about the extra benefits that they might gain (Tayoun, et. al, 2016). This will enhance the productivity and will help Bob to achieve the goals. Apart from that, explaining the role of all the staff at the initial stage is important otherwise it can cause hindrance at the later stage. Bob should explain the future goals that will increase in upcoming years (Hr-survey, 2015). This will help employees to retain for a longer run.
Other non-financial benefits that could be offered to employees are offering those flexible working hours and development plan. If flexible working hours are offered it will add up flexibility and will widen up the interest for working at the workplace. As every employee wish to work in a flexible area thus shifts need to offer according to the employee convenience (Perez, et.al, 2016). This will enhance the overall productivity. Some work from home benefits should be offered so that employees can work as per according to their convenience. Non-financial benefits are used to improve the performance as they boost up the productivity. Fixed number of paid leaves should be offered so that retention rate also gets improved (Dhaliwal, Li, Tsang & Yang, 2014). Non-financial benefits are adjusting holidays, flexibility in the working hours, offering work from home and other allowances. Professional growth is closely connected with the employee’s productivity (Fulmer & Ployhart, 2014). The other non-financial offering is easy at the work place and some other benefits.
Steps to Achieve Organisational Objectives through Fair Remuneration Plans
Bob should use incentive pay so that they can motivate the shop manager to achieve the objectives. Some of the key performance area could be offering incentive by setting up a particular target. This will boost up the overall performance as employees might work harder to get incentives (Selviaridis & Wynstra, 2015). Additionally, the quality parameter could also be used to set up the incentive pay this will allow employees to work efficiently. Key performance indicator is basically set up upon three parameters that are upon individual based, department based or office based goals. The incentive pay can also be based on the satisfaction from the clients by checking that number the customers that are satisfied with the employees (Doran, Kontopantelis, Reeves, Sutton & Ryan, 2014). This will helps in improving the overall productivity d brand image of employees. The performance of employees can be analysed and then incentive can be offered after a fixed line. Thus it can be said that incentive programs are a formal scheme that is used to promote or encourage specific actions during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers.
Allowance can be said as extra benefits that are offered to the employees apart from the salary. The amount of something that is permitted for setting up set of regulations and also boosts up the motivation of employee. It is regularly paid to the employees at a fixed time interval (Linnerooth-Bayer & Mechler, 2015). Thus, Bob can offer issuance allowance to the employees. Offering health insurance to the employees will be beneficial as it will boost up the productivity of employees. Bob should offer health insurance by offering medical cost for expensive treatments. Bob should offer health insurance as it is a add on the basic salary which could be used in emergency condition. Offering such opportunities to the employees will give reason to work for a longer time with the organisation. Health insurance also reduces financial losses that could be used to rescues the liabilities at time of difficult situation (Linnerooth-Bayer & Mechler, 2015). Offering insurance minimizes the financial losses of the employees and act as a safeguard for the employees. Health saving account also lowers the health care cost.
Training needs analysis about the new staff and their knowledge. Training is a crucial part for every organisation and important part of training is analysis. Training need analysis so that gap could be identified between employee understanding and the training those need to be offered. The main purpose of evaluating a training program is to gain knowledge about whether it has achieved or failed its objectives. Training can be said as a process to acquire the skills so that concepts could be understood (Singh & Jayachandran, 2018). The important part of training is analysis and it is a system development process. The development is successful if the loopholes faced by the employees are resolved (Slideshare, 2015). Analysis helps in finding out the support that will be needed by employees. So that training helps in meeting up the employee needs and requirement. In case of Bob, the role of training analysis is to build a bridge between available design and the data that is available for the user. Training can be offered in a way; it can be a one-on-one session or combined group training (Singh & Jayachandran, 2018). Training is especially needed when some new policies are designed or implemented so that all the employees understand about it and productivity increases (Schwaighofer, Fischer & Bühner, 2015). Training need analysis fulfils the business needs and builds up cost effective approach.
The Role of Non-Financial Benefits in Improving Employee Performance
If I need to offer training to my Retail Assistants, it would be detail description about how the processes in an organisation work. The work flow need to be explained and then job role is explained to themselves (Schwaighofer, Fischer & Bühner, 2015). The duty of retail assistance is to report to the shop managers by explaining them their work role. Training can be offered either on or off job training, but in my case I would suggest on job training. On job training help employees to work and learn. While setting up evaluation, creating assessments that can provide relevant information about how well the learners learn, how much of it will be implemented etc. could be seemingly abstruse. Another aspect that often hinders evaluation is the fact that training managers and L&D often think of it as an afterthought rather than thinking of it as a part of the learning development itself. Hence, the evaluative model often fails to measure the actual results. This will help in gaining experience. On job training is an effective way of development for employees (Bustami, Ramli, Muhammad & Adzhar, 2015). It is a hand on method for teaching the skills and knowledge that are required for practising the job role of retail assistant. On job training help employees to learn from the environment so that they can practise their learnt knowledge and skills learnt during the course (Marchington, 2016). It makes use of tools that are available so that job can be carried effectively. Training supports the employees so that they can adjust at the job environment and develop skills according to the condition (Kristensen, Teoh & Baker, 2015).
It is import mat for Bob to evaluate the training that he has offered to the new staff. Evaluation of training leads to control that helps in deciding whether the training was worth it or some more improvements are needed (Marchington, 2016). Training evaluation is important because it monitors all the training function and assists the importance of training. It helps in deep analysing about some selective measures. Evaluation is used to compare the improvement that is seen in a participant so that standard goal could be achieved. Bob should undertaking evaluation of training so that feedback of training could be figured out or some improvement if needed can be taken (Kristensen, Teoh & Baker, 2015). The major objectives of training evaluation are to validate the development and justify that the cost incurred in training is worth it or not. It also helps in improving the design so that training programs can be enhanced. In short training evaluation is all about finding how effective the training it was(Economictimes, 2015). It helps in understanding whether the objects have been reached, what skills or behaviour changes have been imparted, how the performance has better and most importantly how it affects the administrative goals, turn-around and in gaining a competitive edge.
It is observed that the staffs that are working with Bob have to undergo various activities such as heavy weight lifting or have to work with some sharp bladed tools (Okeowo, 2015). These tools can harmful and thus it requires that health and safety measures should be undertaken. There are various situations in which staffs get hurt while working thus it is recommended that Bon should be concerned about the health and safety responsibilities (Dudley, et. al, 2015). This could be done by including health and safety measures as the part of training.
- Health and Safety must be part of Induction and training for all staff members as it is the duty to make sure that workplace is safe. There are chances and it is observed that new staffs are at greater risk of injuries as they are unaware about how to use tools and equipment’s (Okeowo, 2015). Thus for this reason health and safety training is important and it should be kept at higher priority. Work health and safety related training reduces the risk of incidents and also keep the workplace environment safe and secure (Pearson & Smart, 2017).
- PCBU is a person that has a primary duty to offer care and ensure that health and safety measures of workers are taken care. PCBU also checks that the work that is done by the staff members’ and not carry any risk in terms of their health and safety. The duty they cover is basically to eliminate the risk of health and safety so that all the practises associated with can be stopped. PCBU is a person that is conducting a business or undertaking all the risk factors (Kristensen, Teoh & Baker, 2015). It is the duty of PCBU to assure that health sand safe work place environment is created.
- Bob during the training should ensure all the staff members about their rights related to health and safety obligations under the HWSA 2015. According to HSWA all the workmates have number of rights that they should be aware about the rights so that they can stop and work for a healthy and safe environment (Marchington, 2016). Bob should tell them to be aware of HSWA as it says that employees should work in an environment where the heath and safety measures are totally controllable. It supports the decision in an organisation by contributing to health and safety decision (Kristensen, Teoh & Baker, 2015). It allows employees to take reasonable care of their health and ensure that actions are taken in an appropriate way. The Health & Safety Legislation places plays an important role as it ensures that standards are maintained. These duties extend beyond the producing company and its employees.
Using Incentive Pay to Motivate Employees and Achieve Key Performance Objectives
Bob asks advice on processes the Shop Manager could use for the three Retail Assistants.
- Performance plan for employees is used to identify the deficiencies and find the opportunity so that success could be achieved. Thus, bob should first determine the performance plan in every situation (Msg, 2015). Then managers should prevent the conjunction my maintain biasness. Performance plan can be set by setting the target that will also help in meeting the business objective (Houldsworth & Brewster, 2016). Performance management plan is a process that enables the manager to communicate so easily with the staff. In general, performance management plan supports in building effective communication with higher degree of clarity. Performance manager believes in improving the assistance so that employee’s succession could be noted. It helps in understanding the long term goals and current challenges so that active role could be identified (Guan & Frenkel, 2018). Performance improvement plan can be used to increase employee mobility. Bob should track the performance plan by understanding the actions so that performance expectations are met.
- The retail assistance performance can be monitored by planning the employee’s job tasks in advance. It allows employees to get the overall idea of the performance standard so that employee performance can be evaluated. The suggestions could be offered so that positive work flow is maintained (Guan & Frenkel, 2018). Apart from that, employees should be monitored according to the performance and then should be rewarded so that level of performance is enhanced (Chen, Eberly, Chiang, Farh & Cheng, 2014). The performance can be monitored by checking the feedback of employees from the clients. If the feedback is positive then performance can be easily identified. Performance plan is a medium through which evaluation is done easily (Chen, Eberly, Chiang, Farh & Cheng, 2014). Performance can be monitored by offering feedback so that specific goals can be achieved. The response and can be calculated by taking surveys so that effectiveness is improved. Annual performance appraisals are used to measure the performance. Exit interviews also help in understanding what difficulties are faced by the employees. Career development opportunities help staff to develop their potential through setting goals for growth and then increase the challenging job responsibilities and cross-training to develop the necessary skills (Anitha, 2014).
- Retail assistance performance can be evaluated by taking the review from the peer. Peer review is a process in which feedback is taken from other staffs so that performance can be evaluated. Self-evaluation is also important as it is an activity that makes appraisals more efficient (Ishizaka & Pereira, 2016). The other evaluation method is 360 degree feedback in this all the employees and clients involved in the business are asked about the business goal. Employee evaluation can be conducted by routinely monitoring the performance by conducting the performance (Pulakos, Hanson, Arad & Moye, 2015). Evaluation can be done in a specific way by checking that employees are able to meet the deadlines. Creating standard goals and checking the performance according to the standard is important. Employee performance can be evaluated by checking quality of work. Feedback is one other way that is used to improve the performance (Mone & London, 2018).
Succession plan for shop managers can be created by analysing the future by lining the business plan with the process. This helps in identifying the goals of all the employees so that organisational objectives could be achieved. The succession plan can be defined by analysing the jobs and people. Succession planning is a procedure for distinguishing and growing new pioneers who can supplant old pioneers when they leave, resign or pass on (Managementhelp, 2015)
- . Succession planning helps in arranging expands the accessibility of experienced and skilled workers that are set up to accept these jobs as they wind up accessible. Taken barely, “substitution arranging” for key jobs is the core of progression arranging (Guan & Frenkel, 2018). Effective progression or ability pool the executives worries about building a progression of feeder bunches all over the whole initiative pipeline or progression. Conversely, substitution arranging is centred barely around distinguishing explicit back-up possibility for given senior administration positions (Posthuma, Charles Campion & Campion, 2018). Thought ought to be given to the maintenance of key representatives, and the outcomes that the flight of key workers may have on the business. Succession planning is an essential constituent and is key to delivery of Public Service renewal (Houldsworth & Brewster, 2016). Effective succession planning and management helps organizations to identify develop and retain capable and expert employees in line with current and projected business objects.
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