1. What do you think is “reasonable” compensation for a not-for-profit organization?
2. Whose responsibility is it to inform a company’s board of directors of the CEO’s total compensation details?
3. Do you think that it is possible for a CEO to be paid too much? How would you determine an appropriate amount? Why?
4. What factors would you see necessary to ensure pay was equitable in a company?
Case Study – Hewlett-Pachard (Motivation Through Incentives at Hewlett-Packard)
1. What do you think were the biggest factors in the failure of the incentive program at HP?
2. Why might employees prefer to have only fixed pay and no incentive pay if the incentive pay system meant that they could earn more money?
3. What would you recommend that HP try instead of pay for performance to accomplish its initial goals of increasing productivity and focusing employees on team rather than individual performance?
· Extrinsic motivation: comes from outside the individual, including performance bonuses
· When motivated to do a task because doing so will lead to a valued reward
· Intrinsic motivation: comes from an interest in or enjoyment from doing a task
· When motivated by the task rather than by tangible external rewards for doing it
· When people engage in a hobby, they are experiencing intrinsic motivation.
Providing incentive pay for something an employee values intrinsically can backfire. The incentive itself may become a de-motivator.
When and how do think this could happen?
· Mandatory Benefits in 2014 are listed here – What new benefits regulations have been introduced since 2014 in Massachusetts or at the Federal level?
· Required by law of organizations with a certain number of employees
· Social Security
· retirement income to qualified workers and their spouses after working a certain number of hours
· Unemployment insurance
· temporary income during periods of involuntary unemployment
· Workers’ compensation
· pays for medical costs and sometimes time off if an employee suffers a job-related sickness or accident, and survivor benefits in the case of an employee’s death
· FMLA leave
· most employers must provide employees up to 12 weeks of unpaid leave to care for family members
· COBRA health coverage
· a continuation of group health coverage for employees and qualified beneficiaries who might otherwise be ended when an employee experiences a qualifying event
Case Study – Benefits at PwC
1. What are the advantages of offering core benefits? Why not let employees choose all of their benefits?
2. How might offering such a variety of benefits create a competitive advantage for PwC?
3. Which benefits have the most appeal to you? Are there any benefits that you would require before accepting a job? Why?
Employees should understand what their benefits are worth – it is a portion of” total compensation”. How would you go about finding out what the benefits are worth and how would you communicate this worth to the employee(s)?
After reading the GM article please answer the questions listed in the below pictures,
Case Study: Union/Management Cooperation at General Motors’ Tonawanda Plant
-Discuss the Pros and Cons of Unions
-Answer questions below in the second slide
Answer the all 3 questions in this slide
Many companies, like J&J, are looking to, or have implemented wellness programs to reduce costs and support their employees maintain healthier lifestyles, etc. What programs does your company have, if any? What types of programs would you be interested in seeing in your workplace and why?
Would a wellness program be a differentiator for you when looking at career opportunities? Why or why not?
What types of “total reward” differentiators would you want to see when searching out employment opportunities?
If you were in a position of authority, what would you do to avoid layoffs?
Do unions still serve a purpose today?