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Imagine that you are a consultant asked by the Human Resource Manager of the Recovery Insurance Group to suggest alternative, more flexible pay systems to motivate the workforce.
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Imagine that you are a consultant asked by the Human Resource Manager of the Recovery Insurance Group to suggest alternative, more flexible pay systems to motivate the workforce. At present the whole organisation is paid on an incremental system with employees gaining an extra increment for every year of service, up to a maximum of seven years, on top of their annual award. Write a report to the Human Resource Manager in which you outline the pros and cons of various systems and make recommendations for a suitable system for Recovery Insurance group. There are various payment systems from which one can choose to pay the employees, namely: * time rates; * individual payment by results; * work-measured schemes; * measured day work; * group incentives; * individual bonuses; * performance-related pay or merit rating; * cafeteria-style payments or flexible pay; * profit sharing. By using...
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