12 Jun EXPLAIN HOW A VARIABLE PAY SYSTEM COULD BE BASED ON GOAL-SHARING, AND DISCUSS THE ADVANTAGES AND DISADVANTAGES.
Explain how a variable pay system could be based on goal-sharing, and discuss the advantages and disadvantages.
The speech should include answering the following questions, and showing some tables to the class in order to make them easily understand the questions.
Compare and contrast merit pay and merit bonuses (Please also create a table with some key words and I will put on my PowerPoint in order to make the class easily to understand, it does not mean you just create a table but you also need to write a speech script for this question, the table is just for showing to the class, I still need the speech script in response to the question).
Which is fairer to the individual?
Which is better for the organisation?
Explain how compa-ratios can be used to manage the performance of people above and below the mid-point of a base pay grade.
Individual results-based pay or recognition rewards? (and create tables for showing to the class)—-in this part, you are required to explain what are these two different types of approach, maybe compare and contrast them, discuss their adva and disadva or more.
What are firms hoping to achieve by introducing profitsharing and gainsharing?
How likely are they to achieve this outcome?
Explain how a variable pay system could be based on goal-sharing, and discuss the advantages and disadvantages. ( also create a table of the advantages and disadvantages of variable pay system).
Team-based rewards: a good idea? How can the ‘free rider’ problem be avoided?
NOTE: this is a speech/presentation, so the language used here should be very oral, this speech script should include not just the main content, but also some opening remarks ( such as greetings , some transitional sentences like ‘lets move on to the first activity…’) . The whole complete speech script is required.
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