Question

Chapter 11 & 12 – Compensation Management

1.  

a. Name, describe, compare and contrast three types of incentive plans.

b. Which type of plan would you recommend be used for faculty at FGCU? Make your case as to why (i.e., convince me this is a good choice)?

c. What type of plan would you recommend be used for a maintenance worker at   FGCU? Make your case as to why (i.e., convince me this is a good choice)?

Chapter 13 – Employee Benefits

Carter Cleaning Centers, a chain of ten dry cleaning centers, has traditionally provided only legislatively required benefits for its employees. Jack’s (the owner of Carter Cleaning Centers) daughter just recently graduated from FGCU with a degree in business administration with a management major and HRM concentration. Jack has asked Jennifer to examine and make recommendations regarding the benefits Carter Cleaning Services provides to its employees and if there is a case to be made to offer additional benefits.

Jennifer knows that turnover is a current problem. She wonders if providing greater employee benefits would reduce employee turnover. She knows that if Carter Cleaning Services was to add new benefits that salaries would have to be reduced to offset some of these new benefit expenses.

a.​What are the legislatively required benefits that Carter Cleaning must provide to its employees?

b.​What would you tell Jennifer are the advantages and disadvantages to Carter Cleaning Centers offering to its employees a health insurance program? What would you recommend the health insurance program contain?

Chapter 15 – Labor Relations

2.  

a. Why do employees join unions? What are the advantages and disadvantages of being a union member?

b. What tactics would you expect a union to use during a union drive and election to form a union at a company?

c. What should management of a company do to make it less likely their employees would want to form a union at their workplace?

Chapter 16 – Workplace Safety

3.  

a.​Explain how to reduce the occurrences of unsafe acts by employees in any company?

b.​What is the supervisor’s role in safety?

c.​What are five techniques for reducing workplace accidents?

Chapter 17 – Managing Global Human Resources

4.  

What are four intercountry differences that affect HRM? Give several examples of how each intercountry difference may affect the HRM practices of an US based company when sending employees to work in another country.

Answer 1

a.) The three types of compensation plans and their comparisons are listed below:

1. STOCK Based Incentives:

This works really well for companies who trade publicly. They offer incentives to their employees through long term stock sharing. These companies dedicate a share of total stock for their employees, and after being employed for a certain amount of time offer these stocks to the employees as incentives. The highly reputed companies listed on stock exchange usually employ these methods.

2. Recognition and rewards(non-cash):

Many stable companies, where employees work without targets, the only way to appreciate their hard work and consistent efforts is through recognition and non- cash rewards, like trophies or gifts of some kind. This is a very good way of keeping the workplace environment motivated, healthy and appreciative. People can sometimes be gifted free movie tickets, or Television sets, game consoles for performing well and for their loyalty to the company.

3. Cash Bonus:

Most of the companies usually use this incentive plan on a yearly basis, where employees are given bonus for their hard work and year long services. The bonus varies as per the designation and it keeps employees interested in completing each year of their service.

b.) FGCU being a university and a place of education employees a lot of teachers, lecturers and other highly educated people who value education more than money. Thus the best incentive plan for them should be " Training and career development", wherein the employer helps employees indulge in their personal growth through training and also allows them opportunities to get more certifications and degrees under their belt for which the whole amount or at least 50% is paid by the employer. This would keep these highly educated people motivated and attached to the university.

c.) Also, for maintenance workers the best plan should be " Cash bonus", which should be paid yearly or only on special occasions to keep them motivated. The maintenance workers are not as big an asset for the company as other designations, so depending on that, if they are willing to stay with the company, they can be given yearly bonus as a token of appreciation and hard work.

Answer 2

a.) The three types of compensation plans and their comparisons are listed below:

1. STOCK Based Incentives:

This works really well for companies who trade publicly. They offer incentives to their employees through long term stock sharing. These companies dedicate a share of total stock for their employees, and after being employed for a certain amount of time offer these stocks to the employees as incentives. The highly reputed companies listed on stock exchange usually employ these methods.

2. Recognition and rewards(non-cash):

Many stable companies, where employees work without targets, the only way to appreciate their hard work and consistent efforts is through recognition and non- cash rewards, like trophies or gifts of some kind. This is a very good way of keeping the workplace environment motivated, healthy and appreciative. People can sometimes be gifted free movie tickets, or Television sets, game consoles for performing well and for their loyalty to the company.

3. Cash Bonus:

Most of the companies usually use this incentive plan on a yearly basis, where employees are given bonus for their hard work and year long services. The bonus varies as per the designation and it keeps employees interested in completing each year of their service.

b.) FGCU being a university and a place of education employees a lot of teachers, lecturers and other highly educated people who value education more than money. Thus the best incentive plan for them should be " Training and career development", wherein the employer helps employees indulge in their personal growth through training and also allows them opportunities to get more certifications and degrees under their belt for which the whole amount or at least 50% is paid by the employer. This would keep these highly educated people motivated and attached to the university.

c.) Also, for maintenance workers the best plan should be " Cash bonus", which should be paid yearly or only on special occasions to keep them motivated. The maintenance workers are not as big an asset for the company as other designations, so depending on that, if they are willing to stay with the company, they can be given yearly bonus as a token of appreciation and hard work.