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Item Information   Holdings       More by this author     Wilken, Douglas J.     Subjects     Human capital     Manpower policy     Compensation management     MSEM Thesis.     Browse Catalog     by author:      Wilken, Douglas J.       by title:      Compensating workfor...         MARC Display

Compensating workforce 2000 / by Douglas J. Wilken. by Wilken, Douglas J. Subjects Human capital   Manpower policy   Compensation management   MSEM Thesis. Description:  x, 99 leaves : ill. ; 29 cm. Contents:  Introduction -- Background -- Individual recognition -- Pay for knowledge -- Team pay -- Financial analysis -- Summary -- Appendix A) Compensation survey B) Financial analysis. The purpose of this paper is to propose a compensation plan to replace merit pay. Merit pay has been very successful and widely used in the past, however, organizational cultures are rapidly changing. The reward structure must change along with organizational culture. The compensation plan in this paper is designed to optimize job satisfaction and motivation, while providing an economic benefit to the organization. I have proposed 3 elements of compensation--individual recognition, pay for knowledge, and team pay. Each element is used in some organizations today, however, I have combined and modified them to provide a comprehensive plan that maximizes benefit to both the employee and the organization. This paper focuses on compensating "professional" employees in "large" organizations. The terms "professional" and "large" will be described in detail in chapter one. The plan is formulated on the premise that employees are motivated by a wide range of rewards and seek equity of distribution. Compensation plans must incorporate variety in their approach to rewarding employees to stimulate the majority of the work force. This paper examines each element of compensation from the aspect of the reward, performance evaluation, and performance measurement. Conclusions drawn are heavily supported by recent literature as well as results of a survey conducted to generate additional data. This paper indicates that this compensation plan has the potential to increase employee contribution and reduce turnover. A financial review has also indicated that annual cost savings that may exceed $8,000,000 when compared to a merit pay plan. Therefore, employees may be happier and the organization may be more profitable.   Copy/Holding information Location Collection Call No. Status   Walter Schroeder Library Master's Theses AC805 .W55 1994 Available Add Copy to MyList Format: HTMLPlain textDelimited Subject:   Email to:

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