Lead Presentation Essay Example | Topics and Well Written Essays - 750 words

Lead Presentation - Essay ExampleIn the present report, we will concentrate upon different approaches to calculating stipend to the staff, with especial(prenominal) emphasis upon the use of performance-based and skill-based payment systems, and stipend packages.Whereas there ar several types of salary (fixed, performance-based, skill-based, etc.), each having its merits and demerits, the companies choose the one that trains ideally to the profession, style of work, and even face-to-face traits of workers. It is a well-known phenomenon that whereas some categories of employees be motivated by high salaries, others prefer getting compensation package rather than big salary. For companies managers, it is often troublesome to choose between offering their employees high salary, on the one hand, and other benefits on the other. Let us therefore consider two types of payment and compensation packages, and how their use influences the performance of the employees.Skill-based system of employees remuneration certainly has both advantages and disadvantages on the one hand, it makes the task of calculating the payment for each worker easier for the companys management and allows to retract and retain highly skilled personnel, but on the other hand it takes into account skills rather than actual performance and therefore people get more(prenominal) not because they work hard but because of their background. Sometimes employees with better skills perform worse than those who are less skilled, and in these cases such a system of payment will affect the quality of work, lower employees motivation, and even destroy team spirit.Yet, it may be argued that those who had been able to develop a certain amount of skills are those whose motivation and performance are high, and the system of skill-based payment works under the condition that certain rules are stuck to. First of all, it is crucial that the employees understand the way the payment is calculated, and fully com mitted to the company so that there are no doubts as for its fair attitude to staff. (Schuster, 1998)Secondly, the companys management has to make sure that the skills the workers acquire correspond to the companys goals, since it has been pinpointed that skill-based pay is likely to cause problems in cases when the skills acquired by the staff become outdated or if the skills are not being used to the fullest by the company. (Ashish et al. 2004) Therefore, the company should glitter the button of an employees learned skills to the achievement of company goals. (Fox 2002) 2.2. Compensation packagesPerhaps the main argument in favor of companys using compensation packages is that this brings the employees to a considerable full point of commitment making them regard their company as stable, reliable, and caring about its staffs wellbeing. Nowadays, practically any respectable company offers their staff compensation packages of some signifier which may include bonuses, holding comp anies stocks, getting discounts, medical insurance, etc. (What does a total compensation package include, 2001 Compensation package, 2005 Evaluating the total compensation package, 2005) Free trainings and courses are also extremely motivating, especially for the young