Week 4 - HR Rewarding 激励

HR – Pay and Reward
A. Time – rate pay
▪ Time rates are used when employees are paid for the amount of time they spend at work.
▪ The usual form of time rate is the weekly wage or monthly salary.
HR – Rewarding performance
HR – Pay and Reward
Pay and Reward :
The term ‘reward’ is generally understood to cover all financial provisions made to employees including both cash pay and the wider benefits package (pensions, paid leave and so on). It may also refer to wider provisions for employees, with the term ‘total reward’ encompassing elements such as training opportunities or a congenial working environment in addition to pay and benefits.
HR – Pay and Reward
What are the different types of reward payment systems?
✓ Time – rate pay. ✓ Piece – rate pay. ✓ Commission. ✓ Performance related pay. ✓ Fringe benefits. ✓ Profit sharing. ✓ Group incentives.
• Individual performance – increasingly, businesses include an element of “performance-related” reward in their pay structures.
• Company affordability – whether the organisation has enough financial resources to pay?
• Job evaluation / content - this is usually the most important factor. What is involved in the job being paid? How does it compare with similar jobs?
Presented by : Mr. Dheeraj Rongala Contact email : dheerajr@
Learning objectives
By the end of the session, learners will be able to know about:
▪ Piece-rate pay encourages effort, but, it is argued, often at the expense of quality.
• Importance of rewarding performance. • Difference between pay and reward. • Types of reward payment systems. • Communication models. • Barriers and steps for improving communication. • Learning styles and related models.
• It is easy to understand from an employee’s perspective.
HR – Pay and Rewardபைடு நூலகம்
A. Time – rate pay
Advantages :
• The employee can budget personal finance with some certainty.
• Time-rate payroll costs have a tendency to creep upwards (e.g. due to inflation-related pay rises and employee promotion.
HR – Pay and Reward
B. Piece – rate pay
▪ The employment contract for a time-rate employee will also stipulate the amount of paid leave that the employee can take each year (e.g. 5 weeks paid holiday).
HR – Pay and Reward
Why is pay important?
• It is an important cost for a business (in some “labour-intensive” businesses, payroll costs are over 50% of total costs).
HR – Pay and Reward
A. Time – rate pay
Disadvantages :
• Does little to encourage greater productivity – there is no incentive to achieve greater output.
• Makes it easier for the employer to plan and budget for employee costs (e.g. payroll costs will be a function of overall headcount rather than estimated output).
HR – Pay and Reward
A. Time – rate pay
Advantages :
• Time rates are simple for a business to calculate and administer.
• They are suitable for businesses that wish to employ staff to provide general roles (e.g. financial management, administration, maintenance) where employee productivity is not easy to measure.
(Continuation from previous session)
Presented by : Mr. Dheeraj Rongala Contact email : dheerajr@
Organisational Behaviour
Topics covered in Week 4 Lecture session 4.3 Organisational Learning and Behaviour Lecture session 4.4 Course work - Activity
Contd…
HR – Pay and Reward
How do businesses decide how much to pay?
• Market rates – If a business tries to pay below the “market rate” then it will probably have difficulty in recruiting and retaining suitable staff.
Presented by : Mr. Dheeraj Rongala Contact email : dheerajr@
Organisational Behaviour
Topics covered in Week 4 Lecture session 4.5 Course work surgery Lecture session 4.6 Course work – Queries and clarifications
Organisational Behaviour
Topics covered in Week 4 Lecture session 4.1 HR - Rewarding performance
Lecture session 4.2
Interpersonal and Organisational Communication
HR – Pay and Reward
Pay and Reward :
Pay may be divided into two categories: • Base or fixed pay – that is, the guaranteed cash wage
or salary paid to individual employees for performing their work for a contracted period of time. • Total earnings – this includes base pay plus additional variable elements of earnings such as bonus payments, while the term could also be used to include aspects such as overtime earnings.