Pay-for-performance is a phrase that has different meanings to various organizations and people. Having a lack of clarity and understanding of the term has made employers fail to meet their short- and long-terms goals. Besides, this has hindered employees from being satisfied in their organizational roles and careers. According to top management officials in organizations, performance is defined by metrics that is reported to the shareholders of public companies. In other instances, it is easily calculated using things such as earnings per share or the total shareholder return. As such, the top management and shareholders have been accorded a clear view of the existing linkage between pay and the final performance measure.
For some companies, …show more content…
Many baby boomers present in the workforce have been kept beyond the traditional norms and was inflicted by the retirement-savings that were inflicted by the economic downturn and longer life expectancies. The contribution of these experienced workers is side-by-side with recent college graduates and Generation X. This diversity has resulted in organizations not having a single approach to achieving their talent management objectives. For example, baby boomers may be motivated highly by financial rewards, while the millennial is likely to respond to incentives of career-advancement. Millennial are known to choose training and development as their first choice of …show more content…
Organizations can control performance measures by reducing operational expenses and providing good linkage between organizational and individual success (HRFocus, 2009). Striking the right balance will mean leaders understand the behaviors of each of their employee group who are responsible for preserving and creating organizational value. Thereby, uses acquired knowledge in developing reward programs that will encourage the behaviors. For example, the responsibility of a payroll manager is to ensure that employees receive their pay on a timely basis. In fact, accurate payroll submissions need to be made in ensuring that employees are paid as
For some companies, …show more content…
Many baby boomers present in the workforce have been kept beyond the traditional norms and was inflicted by the retirement-savings that were inflicted by the economic downturn and longer life expectancies. The contribution of these experienced workers is side-by-side with recent college graduates and Generation X. This diversity has resulted in organizations not having a single approach to achieving their talent management objectives. For example, baby boomers may be motivated highly by financial rewards, while the millennial is likely to respond to incentives of career-advancement. Millennial are known to choose training and development as their first choice of …show more content…
Organizations can control performance measures by reducing operational expenses and providing good linkage between organizational and individual success (HRFocus, 2009). Striking the right balance will mean leaders understand the behaviors of each of their employee group who are responsible for preserving and creating organizational value. Thereby, uses acquired knowledge in developing reward programs that will encourage the behaviors. For example, the responsibility of a payroll manager is to ensure that employees receive their pay on a timely basis. In fact, accurate payroll submissions need to be made in ensuring that employees are paid as