Describe the strategic importance of performance-based pay. Why do employers use it?
Question:
Describe the strategic importance of performance-based pay. Why do employers use it?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (3 reviews)
Performancebased pay also known as merit pay or pay for performance is a compensation system that rewards employees based on their individual performa...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Managing Human Resources
ISBN: 978-8522104291
12th Edition
Authors: Susan E Jackson, Randall S Schuler, Steve Werner
Question Posted:
Students also viewed these Business questions
-
Read the following article and answer the questions below: Building Competitive Advantage Through People Magazine: Winter 2002Research Feature January 15, 2002 Reading Time: 23 min Christopher A....
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Describe the strategic importance of performance-based pay.
-
Discuss the ways that managed care organizations can infl uence the adoption of new technologies.
-
This is a partial adjusted trial balance of Fenske Company. InstructionsAnswer these questions, assuming the year begins January 1.(a) If the amount in Supplies Expense is the January 31 adjusting...
-
Determine which of the following limits exist. Compute the limits that exist. lim (1 - 6x) x1
-
As the brick in Example 9.8 moves downward, why is the magnitude of the force it exerts on the spring given by Eq. 1 in Example 9.8 and not by simply the magnitude \(m g\) of the gravitational force...
-
Presented below are two independent situations. Situation A: Annie Lennox Co. reports revenues of $200,000 and operating expenses of $110,000 in its first year of operations, 2008. Accounts...
-
Your 3 year old nephew got into the workbench and mixed iron filings into a container with sugar and marbles. Explain the steps you would take to separate and recover each substance (use point form...
-
As an employee, what type of stock-based incentive would you prefer and why? Would you participate in a stock purchase plan?
-
How involved do you think the government should be in compensation decisions? Should there be a minimum wage? Should there be maximum wage for executives?
-
The trial balance before adjustment of Taylor Swift Inc. shows the following balances. Instructions Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful...
-
What is the fixed overhead volume variance?
-
A company pays a cost of $7.00 per unit at a volume of 10,000 units and $2.00 per unit above 10,000 units. Calculate the total cost when the company uses 9,000 units, 12,000 units, and 15,000 units.
-
How is the profit margin ratio calculated?
-
What are the cost centers in responsibility reports?
-
List three items whose knowledge is required to create the flexible budget.
-
Pletcher Company produces and sells automobile batteries, the heavy-duty HD-240. The 2011 sales budget is as follows. QuarterHD-240 1 .... 5,200 2 .... 7,490 3 .... 7,980 4 ....11,370 The January 1,...
-
As water moves through the hydrologic cycle, water quality changes are common because of natural phenomena or anthropogenic pollution. Using Figure 11.1, describe how water-quality changes occur...
-
One observer argues that external equity should always be the primary concern in compensation, noting that it attracts the best employees and prevents the top performers from leaving.
-
One observer argues that external equity should always be the primary concern in compensation, noting that it attracts the best employees and prevents the top performers from leaving.
-
Go to any of the salary survey sources listed in the Manager's Notebook, "How Much Is a Position Worth in the Marketplace?" and research the salary ranges of four to five positions of your choice....
-
Complete the following table and draw a graph showing how bond price for each bond changes over time as they move towards their maturity dates. Describe the relationship between bond prices and time...
-
Easyflow Co. Inc. manufactures faucets in a small manufacturing facility. The faucets are made from zinc. The manufacturing department has 60 employees. Each employee presently provides 36 hours of...
-
Muscles Gym collected $600 as an annual membership fee from a client on April 1. How much deferred revenue will they recognize at the end of that calendar year? Show your calculations.
Study smarter with the SolutionInn App