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Compensation Performance Strategy

Compensation Performance Strategy

          
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About the Book

Property management industry reward management practitioners include property managers, caretakers, attendants, security guards, facility maintenance workers and cleaners. It is essential for employers to formulate strategic plans and coordinate labor relations of human resource with the development. In responds to the people-related challenge and opportunities to property management industry. It includes six aspects: communicating and improving staff benefits, promoting work-life balance and health and enhancing work arrangements, enhancing staff's career development and promotion prospect, improving the professional image of the industry, friendly employment practices for mature persons. Through these practices enterprises can make their job vacancies about attractive and answer misunderstandings about the property management industry. Thus, the manpower shortage challenge will be avoid, when the people have interest to join the industry and they feel the reward is attractive to them to develop career. How to improve staff benefit? It includes new recruit entry bonus schemes, giving out little gifts and bonuses, during celebrations and festive occasions, and granting gratuities to critically ill employees or on the death of the employee's immediate family members, offers employees insurance plans, offering award schemes for employee's children by granting scholarships to outstanding students in recognition of their excellent exchange scholarships are available to subsidize their children's study abroad, promoting working-life balance to staff, such as organizing interest classes, setting up sports teams, organizing gatherings, participating in charitable activities, encouraging employees to organize social gatherings, promoting happiness at work, strengthening occupational safety and health arrangements to employees, e.g. setting up occupational safety and health committee / departments, formulating occupational safety and health policies, entertainment of work arrangement: compressed working days, five-day work week, flexible working days, flexible rostering, job sharing, part time work pattern, most rest time for frontline employee, job nature or workflow modification / re-engineering, improvement of employee's workplace environment, intra-district redeployment.Reward is an important element in information technology industry. The IT industry had been needing a leader in changing traditional compensation strategy. Pay for performance needs to be designed effective reward system to encourage IT employee to work hardly in order to reward and contribute the most to an IT organization's technological productivity and profits. The compensation mix depends on deliverable and the impact it has on the IT business. Consequently higher the responsibility greater the variable content in the pay package. IT industry has many IT professionals, such as programmers, software or hardware engineers, e-commerce website designer etc. different IT professionals. Hence, different IT professionals need have different skills to evaluate pay performance level fairly. However, performance related pay plans, it is a motivator the improves productivity. It helps in improving IT product productivity and performance levels when making every IT professional individual equally to encourage or motivate them to work to hardly in their IT unique professional aspects. It is a greater motivator for top performances and teams as they can get fair and reasonable reward and pay according to their contributions.In fact, there is no standard formula for a performance -related incentive plan, it is unique for each IT professional. However, the incentive plan should need to be design to each IT professional with an organization's objectives.


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Product Details
  • ISBN-13: 9798739719430
  • Publisher: Amazon Digital Services LLC - KDP Print US
  • Publisher Imprint: Independently Published
  • Height: 254 mm
  • No of Pages: 130
  • Spine Width: 9 mm
  • Width: 203 mm
  • ISBN-10: 873971943X
  • Publisher Date: 17 Apr 2021
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 376 gr


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