Please respond to the following: first discussion writing produce 200 words about it
In Addition a response must be given back (100 words) to the other student Sherena Martin.
RE: Week 1 Discussion
Most businesses practice strategic tactics or decisions when they want to put a plan together for the companies future or to reach any goals. When my company notices that their sales are down, they will put together a plan that will attract it’s audiences. It’s usually something that will help them to reach their goal but also accommodate the customers so everyone is happy.
Compensation practices is what employees receive for doing their jobs in an organization. It includes pay, incentives and benefits. The relationship between strategic decisions and compensation practices is good. Usually, when a goal is met, the company will reward their employees for a job well done.
Advantages associated with compensation practices:
1) If an employee is acknowledged and rewarded for doing his/her job, they will continue to work hard, going above and beyond for the company.
2) Compensation practices also encourage employees to want to learn more about the organization so they can move up within the company.
Disadvantages of compensation practices:
1) Employees always looking forward to a getting a reward for doing a good job can be bad because employees are already getting a salary to do their job.
2) Employees can feel discouraged if it feels as if they are in competition with their fellow staff members for incentives and rewards which can lower productivity in the workplace.
I believe my companies approach to compensation management is o,k, but can be better. At times, they do offer you a reward when a job is done well but not always. Pay raises can be improved, most employees only get a .50 raise a-year. And most there are part time workers, so they are not making enough money to pay for the health benefits that the company is offering them. Most just apply for Medicaid assistance from the state and hope they qualify.
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