reporting - Group 1 Adriatico, Lea B. Aguinaldo, Ma....

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Group 1 Adriatico, Lea B. Aguinaldo, Ma. Lourdes Ajusan, Eulo mar Ang, Katherine Biscocho, Marinel TTH, 3:30-5:00pm Submitted to: Mrs. Esclavia
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CHAPTER 6 APPRAISING AND REWARDING PERFORMANCE Types of pay that are required for a complete economic reward system 1. Job analysis and wage surveys rate jobs, comparing one job with another to determine base pay 2. Performance appraisal and incentives rate employees on their performance and reward their contributions. 3. Profit sharing rates the organization in terms of its general economic performance rewards, and profit sharing MONEY AS A MEANS OF REWARDING EMPLOYEES Money- valuable because of the goods and services that it will purchase. - Medium of exchange for allocation of economic resources - Social medium of exchange. - Has status value when it is being received and when it is being spent. APPLICATION OF THE MOTIVATIONAL MODELS Drives- achievement-oriented employees maintain a symbolic scorecard in their minds by monitoring their total pay and comparing it with that of others. - Money relates to other drives, since people can use it to buy their way into expensive clubs and give them the capacity to influence others, such as through political contributions. Needs- Herzberg model states that pay is primarily a hygienic factor, although it may have at least sort term motivational value as well. Expectancy- if money is to act as strong motivator, an employee must want more of it (valence), must believe that effort will be successful in producing desired performance (expectancy), and must trust that the monetary reward will follow better performance (instrumentality). Expectancy theory states that:
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Valence X Expectancy X Instrumentality = Motivation SITUATION LEVEL OF PERFORMANCE LEVEL OF ECONOMIC REWARD INSTRUMENTALITY CONDITION 1 High High Desirable 2 High Low Undesirable 3 Low High Undesirable 4 low Low Desirable Behavior modification. Employees can see that there is a direct connection between performance and reward. The undesirable states are situations 2 and 3, where rewards are withheld from high performers or given to low performers. When these conditions are allowed to
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reporting - Group 1 Adriatico, Lea B. Aguinaldo, Ma....

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