Compensation Systems, Job Performance, and How to Ask for a Pay Raise
()
About this ebook
Compensations and rewards are sizeable expenses for any organization. Therefore, they must be handled carefully. Some organizations are unable to attract the right talent because their compensation and benefits programs are not reasonable. Today organizations are focusing on core competencies and pay for performance for their employees. Therefore, employees should know that developing their skills, being team players, solving problems, and exemplifying leadership are some of the core competencies that organizations look for in making hiring and promotions decisions.
Every employee should understand the organizations mission and goals and how their employment is connected to these. Employees should also know that their job responsibilities are linked to the need of the organization and that employees should possess the right skills, knowledge, and abilities to help achieve organizational objectives. Employers should reward and compensate their employees appropriately for their work efforts. In this regard, employers should understand that the pay workers receive is connected to their productivity, motivation, inspiration, and turnover. This book provides a clear understanding of the various rewards system many organizations may offer. It also outlines the connection between compensation, benefits, and employee motivation. Finally, it teaches employees how to ask for a pay increase.
360 Performance Solutions
360performancesolutions.com
813-474-2058
Dr. Paulett Hemmings Ph.D.
About the Author Paulett Hemmings is the CEO of 360 Performance Solutions (360performancesolutions.com) consulting company, and she teaches business professionals how to be outstanding leaders. Her area of expertise is organizational improvement and human resource management. As an undergraduate, Paulett attended Pace University in New York, where she received her BBA in general management. She furthered her studies and graduated from Long Island University, New York, with an MBA in management. Paulett earned her PhD in organization and management from Capella University and recently graduated with a post-doctorate certificate in human resource management from Walden University, Minneapolis. Some of Paulett Hemmings’s professional affiliations are the Society for Human Resource Management (SHRM), American Society for Quality (ASQ), National Association of Professional Women (NAPW), and American Association of University Professors (AAUP). Paulett is a NAPW VIP member and received the 2015–2016 Professional Woman of the Year Award for outstanding leadership and commitment within her profession.
Related to Compensation Systems, Job Performance, and How to Ask for a Pay Raise
Related ebooks
Human Resources Management: A Guide on How to Implement HR Best Practices Includes Ready Structured Procedures and Forms Rating: 0 out of 5 stars0 ratingsSolving Employee Performance Problems: How to Spot Problems Early, Take Appropriate Action, and Bring Out the Best in Everyone Rating: 0 out of 5 stars0 ratingsMastering Consulting as an HR Practitioner: Making an Impact in Small Business Rating: 0 out of 5 stars0 ratingsProving the Value of HR: How and Why to Measure ROI Rating: 0 out of 5 stars0 ratingsHandbook for Strategic HR - Section 5: Employee Engagement Rating: 0 out of 5 stars0 ratingsBusiness-Focused HR: 11 Processes to Drive Results Rating: 3 out of 5 stars3/5Assessing Internal Job Candidates Rating: 0 out of 5 stars0 ratingsHR's Greatest Challenge: Driving the C-Suite to Improve Employee Engagement and Retention Rating: 0 out of 5 stars0 ratingsThe Essential HR Guide for Small Businesses and Startups: Best Practices, Tools, Examples, and Online Resources Rating: 0 out of 5 stars0 ratingsModel Answer: Literature review on Employee motivation, rewards and performance Rating: 0 out of 5 stars0 ratingsStaffing to Support Business Strategy Rating: 3 out of 5 stars3/5The Everything HR Kit: A Complete Guide to Attracting, Retaining, and Motivating High-Performance Employees Rating: 0 out of 5 stars0 ratingsNew Employee Orientation Guide: 90 New Employee Orientation Ideas for Human Resources Professionals Rating: 3 out of 5 stars3/5Grow Your Small Business Through HR Rating: 0 out of 5 stars0 ratingsThe HR Guidebook for Small Businesses Rating: 5 out of 5 stars5/5Hiring and Keeping the Best People Rating: 0 out of 5 stars0 ratingsReinventing Talent Management: Principles and Practices for the New World of Work Rating: 4 out of 5 stars4/5Managing Employee Performance Rating: 0 out of 5 stars0 ratingsPerformance Management: Is it Time to Coach, Counsel or Terminate Rating: 0 out of 5 stars0 ratingsHow Effective Is Your Recruiting Process? Rating: 0 out of 5 stars0 ratingsThe HR Career Guide: Great Answers to Tough Career Questions Rating: 0 out of 5 stars0 ratingsVitalize your Workplace: Conquering the Crisis of Employee Stagnation Rating: 0 out of 5 stars0 ratingsThe ACE Advantage: How Smart Companies Unleash Talent for Optimal Performance Rating: 0 out of 5 stars0 ratingsManager Onboarding: 5 Steps for Setting New Leaders Up for Success Rating: 0 out of 5 stars0 ratingsThe Practicalities of Human Resources: For Hr Practitioners’ - Fresh Perspective Rating: 0 out of 5 stars0 ratingsEmployee retention Second Edition Rating: 0 out of 5 stars0 ratingsChief HR Officer Third Edition Rating: 0 out of 5 stars0 ratingsCreative New Employee Orientation Programs: Best Practices, Creative Ideas, and Activities for Energizing Your Orientation Program Rating: 0 out of 5 stars0 ratingsHR at Your Service: Lessons from Benchmark Service Organizations Rating: 4 out of 5 stars4/5HR A Complete Guide - 2020 Edition Rating: 0 out of 5 stars0 ratings
Business For You
Crucial Conversations: Tools for Talking When Stakes are High, Third Edition Rating: 4 out of 5 stars4/5The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5Your Next Five Moves: Master the Art of Business Strategy Rating: 5 out of 5 stars5/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5The Book of Beautiful Questions: The Powerful Questions That Will Help You Decide, Create, Connect, and Lead Rating: 4 out of 5 stars4/5How to Write a Grant: Become a Grant Writing Unicorn Rating: 5 out of 5 stars5/5Becoming Bulletproof: Protect Yourself, Read People, Influence Situations, and Live Fearlessly Rating: 4 out of 5 stars4/5Emotional Intelligence: Exploring the Most Powerful Intelligence Ever Discovered Rating: 5 out of 5 stars5/5Confessions of an Economic Hit Man, 3rd Edition Rating: 5 out of 5 stars5/5Carol Dweck's Mindset The New Psychology of Success: Summary and Analysis Rating: 4 out of 5 stars4/5Robert's Rules Of Order Rating: 5 out of 5 stars5/5Tools Of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers Rating: 4 out of 5 stars4/5The Everything Guide To Being A Paralegal: Winning Secrets to a Successful Career! Rating: 5 out of 5 stars5/5Real Artists Don't Starve: Timeless Strategies for Thriving in the New Creative Age Rating: 4 out of 5 stars4/5Collaborating with the Enemy: How to Work with People You Don’t Agree with or Like or Trust Rating: 4 out of 5 stars4/5Law of Connection: Lesson 10 from The 21 Irrefutable Laws of Leadership Rating: 4 out of 5 stars4/5The Five Dysfunctions of a Team: A Leadership Fable, 20th Anniversary Edition Rating: 4 out of 5 stars4/5Crucial Conversations Tools for Talking When Stakes Are High, Second Edition Rating: 4 out of 5 stars4/5Just Listen: Discover the Secret to Getting Through to Absolutely Anyone Rating: 4 out of 5 stars4/5Set for Life: An All-Out Approach to Early Financial Freedom Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5Lying Rating: 4 out of 5 stars4/5Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple Rating: 5 out of 5 stars5/5
Reviews for Compensation Systems, Job Performance, and How to Ask for a Pay Raise
0 ratings0 reviews
Book preview
Compensation Systems, Job Performance, and How to Ask for a Pay Raise - Dr. Paulett Hemmings Ph.D.
Copyright © 2016 by Dr. Paulett Hemmings Ph.D.
All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the copyright owner.
Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.
Certain stock imagery © Thinkstock.
Rev. date: 09/13/2016
Xlibris
1-888-795-4274
www.Xlibris.com
735065
Contents
About The Author
Foreword
Preface
How To Use This Book
Part 1
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Part 2
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Words Of Upliftment
Conclusion
Glossary
References
Compensation Systems, Job Performance,
And How to Ask for a Pay Raise
Dr. Paulett Hemmings Ph.D.
ABOUT THE AUTHOR
P AULETT HEMMINGS IS the CEO of 360 Performance Solutions (360performancesolutions.com) consulting company, and she teaches business professionals how to be outstanding leaders. Her area of expertise is organizational improvement and human resource management. As an undergraduate, Paulett attended Pace University in New York, where she received her BBA in General Management. She furthered her studies and graduated from Long Island University, New York with an MBA in Management. Paulett earned her Ph.D. in Organization and Management from Capella University and recently graduated with a Post-Doctorate Certificate in Human Resource Management from Walden University, Minneapolis. Some of Paulett Hemmings’ professional affiliations are the Society for Human Resource Management (SHRM), American Society for Quality (ASQ), National Association of Professional Women (NAPW), and American Association of University Professors (AAUP). Paulett is a NAPW VIP member and received the 2015-2016 Professional Woman of the Year Award for outstanding leadership and commitment within her profession.
FOREWORD
P ROPER COMPENSATION AND reward systems are critical means to increase productive advantages for most organizations. Therefore, there is a need for various methodologies to be used in developing an organization’s compensation benefits program. The purpose of this book is to analyze compensation and rewards, and to provide a guide on how to ask for a pay increase. Having a wide perspective on compensation, one is able to understand the different aspects that go into strategic business thinking and how the compensation package is organized.
It is important to note that employees may not be willing to dedicate time and effort to their work if they are not recognized for it, whether they are located locally or globally. They will, in turn, decrease productivity to compensate for their lack of appropriate pay and benefits. Solid reward packages need full consideration and attention in their development. Organizations should, therefore, deliberately create a reward package that supports retention, employee development, and quality of life in order to maintain strong performance and full productivity (Gross & Friedman, 2004). The productivity of the organization is connected to the total-rewards and also to the overall business strategy prepared and executed on an ongoing basis. Strategies should therefore be created to enable qualified employees to receive their reward at the appropriate time for the right reason.
PREFACE
E MPLOYEES PERFORM ASSIGNED tasks, and the organization pays them for their work productivity. Compensation involves an exchange of labor for pay and benefits, and both the employer and the employee gain value from this transaction. Compensation is comprised of many different types of rewards and recognitions. Reward systems include base pay, incentive, merit, vacation, sick pay, health insurance, and such things as cell phone, housing, or car allowance. Recognizing employee