Discuss the following:
1.Fundamentals of Human Resource Management discusses three classifications of rewards. They are intrinsic versus extrinsic rewards, financial versus nonfinancial rewards, and performance-based versus membership based rewards. What are the strengths and weaknesses associated with each type of reward? Which type of reward is most successful in the business environment and why? Remember to use a specific workplace example to illustrate your position.
2. Which employee benefit do you personally value the most? Why is it important for organizations to offer benefits to their employees? How do benefits positively or negatively affect an organization? What does your organization do to make sure employees understand the value of their benefits?
3. How does your organization balance the regular salary and the incentive? Is there a formula? For example, one of my former employees used a formula that 80% of the eligible employees should be able to meet the threshold for incentive compensation at least 50% of the time.
4.What are some of the issues your organization faces with regard to executive compensation? What changes in executive compensation have you seen over time that were effective or less so?