Incentive Plan

Incentive Plan Free Online Research Papers An effective employee incentive program is necessary for business to remain competitive in day and age. Many companies spend a great deal of money on their retention strategies, which concentrates on various ways to instill loyalty among employees. A great way to ensure low employee turnover is to offer higher pay, but higher pay does not always guarantee employee alignment with the company’s priorities. In order to encourage this alignment, an incentive plan should be implemented. It is important that employees knows the connection between their performance and their would-be payout. An effective incentive plan sends clear messages about what is important to organizational success. It also motivates employees to engage in ongoing improvement activities, and provides them with a stake in the business (Smith, 2007). It is truly an exceptional vehicle for continually communicating how the company is doing with respect to strategy execution and financial performance. This will be an invaluable asset in calming the crew and keeping them focused on the important task of running the business. Salary More people than are willing to admit, lives revolve around their paycheck as its after-tax amount determines the quality of life they will have. â€Å"Statistics shows that by attracting and retaining employees through higher wages, organizations actually reduce costs through decreased turnover, lower absenteeism rates and increased productivity and profitability (Duchan, 2007).† Therefore, by offering a competitive base salary will make an organization more attractive to the more qualified employees. Some employees will come with more experience and education than others, salary is competency based. Salary will increase yearly depending on performance appraisal of individual and department. Lastly, a bi-weekly pay schedule should be utilized, as it serves as an incentive as well because two times a year there are months that have more than 2 pay periods; some employees deem the extra check a bonus. Benefits Plan A great benefits plan can attract, retain and motivate key talent but can be very costly for companies to provide to employees, â€Å"so the range and choices of benefits are changing rapidly to include, for example, flexible benefit plans (Smith, 2007).† According to the U.S. Chamber of Commerce, â€Å"employee benefits now constitute approximately 40.7 percent of wages and salaries. A company should contain 80% of the costs of the benefits package; this package gives employees a choice on the benefits they wish to receive. This approach is a win-win for the employee as well as the company.† Benefits are a form of value, other than payment, that are provided to the employee in return for their contribution to the organization, that is, for doing their job. Some benefits, such as unemployment and workers compensation, are federally required. Workers compensation is really a workers right, rather than a benefit. Examples of benefits are insurance such as medical, life, dental, disability, unemployment and workers compensation; vacation pay, holiday pay, and maternity leave, contribution to retirement or pension pay, profit sharing and stock options Conclusion Incentive plans are designed to shows appreciation in a way that salary pay, no matter how large, does not convey. â€Å"An incentive plan that is well-designed incentive can pull employees together, assist in pointing them in the direction management want them to go, and give that extra push that every company needs in todays competitive environment (Duchan, 2007).† To ensure that an incentive plan is effective, it is important that a company consider the following factors: recognize that the business strategy process is an ongoing cycle of formulation, implementation and evaluation; therefore, these incentive plans should be tweak and fine-tune on a regular basis (Smith, 2007). References: Duchan, M. (2007). Compensation: Total Reward Plans that Attract, Retain and Motivate. Retrieved April 26, 2009, from Business Owner Web site: constructionbusinessowner.com/topics/people-management/compensation- total-reward-plans-that-attract-retain-and-motivate.html Smith, L. (2007). Designing an Incentive Compensation Plan. Retrieved April 26, 2009, from HR.Com. Web site: Http://www.hr.com/SITEFORUM?t=/Default/gatewayi=1116423256281applicatio nistoryactive=noParentID=1119278002800StoryID=1168224813425xref=http% %3DGoogle+Search (n.d.). Fighting For Your Business. Retrieved April 26, 2009, from How Do Your Business Compare? Web site: uschamber.com/content/0903_6b.h Research Papers on Incentive PlanTwilight of the UAWAnalysis of Ebay Expanding into AsiaResearch Process Part OneThe Project Managment Office SystemOpen Architechture a white paperMarketing of Lifeboy Soap A Unilever ProductPETSTEL analysis of IndiaNever Been Kicked Out of a Place This NiceDefinition of Export QuotasBionic Assembly System: A New Concept of Self

Private and Public Spheres in Sociology

Private and Public Spheres in Sociology Within sociology, public and private spheres are thought of as two distinct realms in which people operate on a daily basis. The basic distinction between them is that the public sphere is the realm of politics where strangers come together to engage in the free exchange of ideas, and is open to everyone, whereas the private sphere is a smaller, typically enclosed realm (like a home) that is only open to those who have permission to enter it. Origins of the Concept The concept of distinct public and private spheres can be traced back to the ancient Greeks, who defined the public as the political realm where the direction of society and its rules and laws were debated and decided upon, and the private as the realm of the family and economic relations. However, how we define the distinction within sociology has changed over time. Within sociology how we define the private and public spheres is largely due to the work of the German sociologist Jà ¼rgen Habermas. A student of critical theory and the Frankfurt School, he published a book in 1962,  The Structural Transformation of the Public Sphere, that is considered the key text on the matter. Public Sphere According to Habermas, the public sphere, as a place where the free exchange of ideas and debate happens, is the cornerstone of democracy. It is, he wrote, made up of private people gathered together as a public and articulating the needs of society with the state. From this public sphere grows a public authority that dictates the values, ideals, and goals of a given society. The will of the people is expressed within it and emerges out of it. As such, a public sphere must have no regard for the  status  of the participants, be focused on common concerns, and be inclusiveall can participate. In his book, Habermas argues that the public sphere actually took shape within the private sphere, as the practice of discussing literature, philosophy, and politics among family and guests became a common practice. These practices then left the private sphere and effectively created a public sphere when men started engaging in them outside of the home. In 18th Century Europe, the spread of coffeehouses across the continent and Britain created a place where the Western public sphere first took shape in modern time. There, men engaged in discussions of politics and markets, and much of what we know today as laws of property, trade, and the ideals of democracy were crafted in those spaces. Private Sphere On the flip side, the private sphere is the realm of family and home life that is, in theory, free of the influence of government and other social institutions. In this realm, ones responsibility is to oneself and the other members of ones household, and work and exchange can take place within the home in a way that is separate from the economy of the greater society. However, the boundary between the public and private sphere is not fixed but is flexible and permeable, and is always fluctuating and evolving. Its important to note that women were almost uniformly excluded from participating in the public sphere when it first emerged, and so the private sphere, the home, was considered the womans realm. This is why, historically, women had to fight for the right to vote in order to participate in politics, and why gender stereotypes about women belonging in the home linger today. Historically within the U.S. people of color and others perceived as different or deviant have been excluded from participating in the public sphere too. Though progress in terms of inclusion has been made over time, we see the lingering effects of historical exclusion in the over-representation of white men in the U.S. congress. Updated  by Nicki Lisa Cole, Ph.D.