Question: QUESTION 5 [5 Marks] [5 Marks] [5 Marks] Employees are viewed as the valued asset of the organization. It is, therefore, important to attract, motivate

QUESTION 5

[5 Marks] [5 Marks] [5 Marks]

Employees are viewed as the valued asset of the organization. It is, therefore, important to attract, motivate and retain them to work for the achievement of the organisational goals.

a. What is reward in employee compensation? Discuss the two types of employee compensation.

b. Explain reward management and discuss four aims of reward management.

c. What is the base or basic pay? Explain your answer with examples.

d. Incentive is a motivational effort. Explain this statement with examples.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Employees are viewed as the valued asset of the organization. It is, therefore, important to attract, motivate and retain them to work for the achievement of the organisational goals. What is reward...

Employees are viewed as the valued asset of the organization. It is, therefore, important to attract, motivate and retain them to work for the achievement of the organisational goals. a. What is...

TROJAN TECHNOLOGIES INC.: ORGANIZATIONAL STRUCTURING FOR GROWTH AND CUSTOMER SERVICE In March 1998, a group of Trojan Technologies Inc. (Trojan) employees grappled with the issue of how to structure...

Question 2 Read the following passage and answer the questionsthat follow: Bread is a common product consumed by a sizeable proportion of the urban and semi-urban community. It is nutritive, easy to...

Read the article below and answer ALL questions in this section. DIMENSION AI CORPORATION CASE STUDY Project Risk Environment INTRODUCTION DIMENSION AI Corporation is a global technology company...

FINAL ONLINE SUMMATIVE ASSESSMENT PROGRAMME Advanced Diploma in Business Management MODULE Advanced Management Principles YEAR 1 INTAKE January 2023 DATE 26 June 2023 TOTAL MARKS 100 1 SECTION A [100...

Walmart's Ethics Case Study On April 21, 2012, The New York Times reported that a six-year internal investigation by Walmart had uncovered widespread evidence of bribery and corruption within its...

Based on information from the textbook, outside research, and knowledge gained from the videos, explain how you would oversee the design or redesign of a benefits program in a large organization....

Outline the content that you would expect James to include under each of the main headings you have proposed for the report James, the Area Financial Controller (London) in the Europe, Middle East &...

Use this Theis method equation to characterize the behavior of a confined aquifer that is homogeneous and isotropic with T = 500 m2/day and S = 1 ( 10-5. A single well is pumped at 2500 m3/day. a)...

Managerial accounting: Group of answer choices focuses primarily on the needs of personnel within the organization. provides information for parties external to the organization. is governed by GAAP....

Read the articles on journaling and review the template provided. Identify what approach, to journaling, in the articles you found useful and why. Post to the discussion forum that you have reviewed...