Wal-Marts Compensation Evaluation Plans Free Essay, Term Paper and Book Report
There are many considerations in the design for a compensation plan. There are new technology, new work processes, and new work relationships. All these require workers to adapt to new ways and with a speed that is unparalleled. Failure to move quickly means market share goes to competitors. If this happen workers face possible layoffs and terminations, to avoid this scenario, focus should be place on ways to design reward systems so that workers will be able and willing to move quickly into new jobs and new ways of performing old jobs. The ability and incentive to do this comes partially form reward systems that more closely link worker interests with the objectives of the company. Pay-for-performance plans that introduce variability into the level of pay you receive seem to have a positive impact on performance if designed well.
When we measure performance for a group incentive plan, objective measures may be readily available, however when we move down to the level of the individual, measuring performance becomes more difficult when we use subjective procedures, such as performa......
Word Count: 1645
Page Count: 6.5 (250 words a page / double spaced)
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