-
- QUESTION
Please máster leve.
Due December 27 2019 please and thank you.
Support your answers with examples and research and cite your sources using APA format.
Discussion Question One:
Evaluate Google’s compensation structure. How can you integrate your findings into your organization’s performance plan?
| Subject | Business | Pages | 3 | Style | APA |
|---|
Answer
Google’s Compensation Structure
Compensation is an important role played by the Human Resource Manager (HRM). It refers to the diverse approaches used by organizations to pay their employees. Google, which has consistently been ranked among the best employers and one of the happiest places to work, has an innovative and highly effective compensation system and structure (Hulthén, Näslund & Norrman, 2016). Their structure is composed of fixed segment remunerations also known as normal salaries and variables segment remunerations which are offered as bonuses. The average normal salary for Googlers is $128,000 per annum. The organization then adds bonuses as a strategic approach to motivating employees and making them competitive. For instance, Google provides its employees with peer bonuses which could amount to $150 (Riberolles, 2018). This is offered based on the extent of contribution made by the employee.
There are additional performance bonuses which are varied depending on three variables; multiplier rate, performance and job position of the employee. Likewise, Googlers are given collective bonuses to encourage team work. They are awarded periodically (Noe, Hollenbeck, Gerhart & Wright, 2017). They include vacation bonuses. In addition to financial compensation, Google provides career development opportunities through individual-organization matching programs, career opportunities and employee potential assessment and development initiatives. Cascio (2015) notes that apart from these compensation strategies, Google provides moral incentives in form of medical insurance, free meals, access to exercise machines, and retirement pensions. Collectively, this compensation system has helped Google become technology firms in the globe.
Google’s compensations structure can be integrated into the performance plan for our organization. According to Cokins (2017), performance plan is the process through which an organization identifies and plans for its collective goals or those of the individual employees. It provides a road map through which the organization can improve its employees to achieve its goals. The findings for Google can be integrated into the performance plan for our organization in the sense that the human resource department could improve on the current compensation structure to support our short-term and long-term goals (Cascio, 2015). For instance, the compensation structure could be redesigned to reward innovative ideas. This will encourage employees to come up with new ideas. In addition, our organization could introduce a compensation structure that rewards employees who further their education through training and personal development. This could entail paying tuition fees for its employees to encourage them to pursue further students. Investing in such a compensation structure will not only benefit the organization, but also the employees. As a result, the employees will be more productive thus helping the organization to meet its goals.
References
|
Cascio, W. F. (2015). Managing human resources. London: McGraw-Hill. Cokins, G. (2017). Strategic business management: From planning to performance. John Wiley & Sons. Hulthén, H., Näslund, D., & Norrman, A. (2016). Framework for measuring performance of the sales and operations planning process. International Journal of Physical Distribution & Logistics Management, 46(9), 809-835. Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education. Riberolles, (2018). How Google implemented an innovative incentive compensation system? Incentive compensation. Available at: https://www.primeum.com/en/blog/google-implemented-innovative-incentive-compensation-system
Appendix
|
|