Upon Reflection

March 10th Class: Today we went over compensation as a whole. We talked about benefits that are required like workers' comp, social security, and medical leave etc. We also talks about the options HRM's have for setting up bonuses, incentives and further benefits. I was amazed to learn that businesses have to pay out such a large percentage to get employees benefits. I also think it is extremely important to involve employees in some of the major decisions and to communicate the changes that will be made.

Chapter Thirteen

Concept and Brief Description: This chapter's main focus is on Benefits; to both the company and the employees. It goes back to what we talked about last time, if you treat your employees well, they will do the same for you. One thing that I thought was important to note was that, the "treating well" must be communicated or it does no go. The "HR Oops!" shared an experience about an employer who took the employees to lunch every week. Sounds great, but after a while it lost its specialness, importance, and its power to motivate. An employer must first find out what the employees want and would be most motivated by and communicate to them that the reason you are giving this great benefit is so that they will work hard and efficiently. Some Benefits are required by law, but those that aren't should be examined and put to the employers advantage in recruiting and retaining their employees.

Key Points: 1. Social Security, Unemployment, Workers' Comp as required benefits for an employer to provide, as well as Medical Leave whether paid or unpaid. 2. The benefits an employer receives for doing insurance benefits through them instead of just giving the employee the money to go find their own insurance. 3. How much do the optional benefits of paid holidays and sick leave etc get a company (i.e. does it actual help with retention and recruiting? What does the company get by giving?)

Facilitative Question: How would the company go about setting up a benefits package that will fit and satisfy a wide variety of people and still benefit from it themselves?

Chapter Twelve

Concept and Brief Description: This chapter focuses primarily on incentives. Its interesting really, the fact that we actually have to be bribed to do our best. I'm not saying it shouldn't be like that, I do it too, but it is strange to think of it that way. The business world is competative and the ones who are the farthest ahead are the ones with the highest overall performance. How do they have such high numbers, it has to do with their employees. You treat your employees well and they will do the same for you. The next question is what incentives would work best in your particular company and with your particular employees.

Emotional Hook: I wonder if incentive pay for executives is part of the reasons for the tough economy and its struggle to bounce back. If they have the opportunity to manipulate the numbers in their favors at a time when the economy is looking to decline, they might take it to ensure their way of life remains the same. Just a thought...

Key Points: 1. Are ethical values becoming hard to maintain in the business world today with the incentives so appealing to those in executive positions? 2. Considering your employees and involving them where ever possible is a valuable tool for employee satisfaction. Communication is KEY! 3. Are performance bonuses the best way to go for individual incentives? And is profit sharing the best way to go on group incentives?

Question: I don't quite understand merit pay and the graph provided.

Upon Reflection

Monday, March 1st class: Today we had a guest speaker. He spoke about compensation and all that that implies. He touched on the laws that govern what is legal and fair, then talked about benefits and pay grades according to country (and general area with in each country). I thought a lot about this. I feel that it is extremely important to pay employees fairly, and if you are able, a little more. Employees (people in general) need to feel important and needed. They need to feel that they have a reason for doing their best. If an employee is giving their all, they should be given a bonus or some kind of reward to say, "Good work!" I think respect and good relationships come from employers who treat their employees well.

Chapter Eleven

Concept and Brief Discussion: This chapter talks about the pay level and the job structure that determines how much the job is worth. All that is let is to determine what each person is worth. It isn't like going grocery shopping and getting "more for less". You must invest in good employees and quality workers. I am not, as the chapter is not, saying that massive amounts of money ensure a company hard workers. We know that isn't true. What I feel is being said is this, " What is this employees efforts work worth to this company?" I know that most salaries must be about the same so that conflict doesn't arise, but the best workers should be rewarded. Perhaps the best way to reward would be through bonuses and raises.
Key Points: 1. Job value and the value that each position carries with it is important to understand when setting pay levels 2. Product vs. Labor Markets 3. One must always remember equal employment opportunities and being fair in our pay. The better a business is at fairness and goodness the more likely the employees will perform well and stay longer.
Facilitative question: What is fair when you know that regardless you will have good and bad employees?

Chapter Ten

Concept and Brief Description: Chapter Ten is a mixture of how to best let go of employees who are hurting the company and helping those who have the potential to be amazing become amazing. It talks also about layoffs and things that just happen and aren't always as a result of employees, but the part that interests me most is employee retention through helping people find satisfaction in their job. I know that not all jobs can be amazing and what everyone is looking for, but I feel that the suggestions made in chapter ten can help to make many dissatisfied employees into eager and motivated employees. Its things like meaningful work, a task that is appropriate for the person, and asking them how they feel it can improve that reassure employees that we care and that we want them to be happy. Happy employees work harder and find more satisfaction in their work, even if its not amazing.

Emotional Hook: There is good to be found in everything, it just takes effort on everybody's part to make it evident.

Key Points: 1. Knowing that what your job does means something makes a huge difference 2. The opportunity to try new things and be trusted enough to make decisions in your job allows one to feel more satisfied 3. It is important to ask employees how they feel and their advice on what could be done to help them feel more involved and important

Facilitative Question: Should pay and benefits be given more appropriately in the first place or is it better to start a little low to have something to use for incentive?

Chapter Nine

Concept and Brief Description: This chapter deals mainly with getting the most out of yourself, as well as your employees. Assessing one's self to see where you are at and what is needed to improve, then setting goals and putting forth the efforts to reach those goals. Sometimes goals can be achieved with little to no help, but for most of us it is a little more difficult than that. This chapter gives ideas, or hints, to how you can get help and what to do with it once you've gotten it. Helps are things like: Mentors, coaches, different kinds of job opportunities and experiences to make you stretch and grow. It also gives a kind of cheat-sheet on how to assess yourself to get you started.

Emotional Hook: With dysfunctional leaders, sometimes its tough to do your best, but I feel that if you have goals to keep you going and doing your best you can make it.

Key Points: 1. How important it is to make assessments of all employees, and yourself, to be able to fully understand where you are. 2. What is and how does the Myers-Briggs Type Indicator work? 3. What huge opportunities the whole job experiences stuff brings. For example: Job enlargement, Job rotation,transfers, externships, etc. 4. Dysfunctional managers. I think we have all dealt with one at one point or another, but it really brings things down and effects the whole business.

Facilitative Question: What do you do with a dysfunctional manager and how do you avoid becoming one yourself?