Week 4 Print Welcome to Week 4! We will explore four specific concepts related

Week 4

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Welcome to Week 4! We will explore four specific concepts related to managing employees: performance, separation and retention, pay structures and incentives. We begin this week with an examination of numerous approaches to performance management. You will be introduced to the activities involved in managing performance as well as the significance of executing this process. You will also learn specific approaches to performance management, including the strengths and weaknesses of each approach. You will have the opportunity to look at various sources of performance information as well as the kinds of errors that commonly occur during the performance management process. We will wrap up performance management by describing ways of giving performance feedback effectively and intervening when performance must improve, along with legal and ethical considerations that impact performance management.
This week we will also the challenges of separating and retaining employees You will learn the distinction between involuntary and voluntary turnover and be able to describe how each type of separation impacts the organization. You will navigate the separation process and ways to manage this process fairly. You will also investigate strategies for retaining employees.
Finally, we will transition to two topics that round out performance, separation and retention of employees: designing pay structures and incentive plans. We will start off exploring how managers weigh the importance and costs of pay to arrive at a structure for compensation and levels of pay. We will also examine the legal, economic, and internal organization considerations that influence the basic decisions in terms of pay structure and pay level. We end this week with a focus on performance-related pay also known as incentive pay. We will learn the connection between pay and employee performance for both individuals and groups. We round this week out with an exploration of the organization’s processes that can support the use of incentive pay for executive employees and individual contributors.
To prepare for this week’s learning, read/watch the items below:
• Read Chapters 10, 11, 12 and 13 in the Noe, Hollenbeck, Gerhart & Wright text.
Chapter 10 Managing Employees’ Performance
Chapter 11 Separating and Retaining Employees
Chapter 12 Establishing a Pay Structure
Chapter 13 Recognizing Employee Contributions With Pay
• Watch video Managing Employee Performance. (https://youtu.be/GfqCrp-DXRI)
• Watch Video Separating and Retaining Employees. (https://youtu.be/I-kn24DQITI)
• Watch Video Base Pay Structure. (https://youtu.be/CnBsWsY6O7k)
• Watch Video Recognizing Employee Contributions with Pay Incentives. (https://youtu.be/BbLUf2xW4es)
WK4 Devotional

16 For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life. 17 For God did not send his Son into the world to condemn the world, but to save the world through him. 18 Whoever believes in him is not condemned, but whoever does not believe stands condemned already because they have not believed in the name of God’s one and only Son.
John 3:16-18 (NIV)
John 3:16 is a verse most Christians are familiar with. It has been drilled into our heads from the time we were little children. These verses are the greatest example of sacrifice you will ever read. When God sent Jesus to die on the cross for our sins he did so willingly in full awareness that not all will come to the saving grace of Christ. God decided that if it was only one person it was worth it because of His great love for us.
• This week consider the example God set regarding the importance of each individual.
o How should this example influence what you do in the workplace?
WK4 Managing Employees’ Performance

Objective: Compare the major methods for measuring performance.

For many organizations, performance reviews are useful tools in support decisions related to training and career development, compensation, transfers, promotions, and reductions-in-force or employment termination. The performance review process typically setting clear and very specific performance expectations for each employee. It also involves providing intermittent formal and informal feedback. Emerging trends also focus on a relative sense of on demand feedback and coaching.
• Read Chapter 10 Managing Employees’ Performance.
• Watch the video Managing Employee Performance.
• In this discussion, identify at least 4 ways that an organization can measure performance. Address some of the pros and cons of each method. Think of your organization or another organization that you are familiar with. Discuss which method they use to provide effective feedback on performance.
WK4 Separating and Retaining Employees

Objective: Identify the impact that turnover has on an organization.

Organizations depend on employees for productivity and profitability. Some studies show that recruiting new employees can cost around upwards of $7,000 and take up to 52 days. If hiring a replacement employee, this can be even more as replacing someone can cost you up to 50-60% of their annual salary. This makes it important for organizations to effectively manage the retention and separation of employees.
• Read Chapter 11 Separating and Retaining Employees.
• Watch the video Separating and Retaining Employees.
• In this discussion, address the various ways that turnover impacts organizations. Outline ways that companies can retain productive employees. Finally, address what considerations organizations must address when separating employees.
WK4 Establishing Pay Structures Paper

Instructions
Objective: Summarize the legal requirements for compensation policies.
Employers understand the importance of employee compensation. It is used as a means to attract acquire and retain talented employees. For this reason, employers must put careful consideration into designing pay structures. One of the fundamental considerations in designing pay policies is the legal requirements that must be implemented.
• Read Chapter 12 Establishing Pay Structures.
• Watch the video Base Pay Structure.
• Write a research paper that introduces at least two federal laws that employers must consider in designing compensation within their organization. As part of your research, discuss at least three compensation methods that employers can use to meet the requirements of each law you introduced. Finally, address how employers can determine if their compensation policies are both legal and competitive and how they can correct any deficiencies.
• Remember that this is a research paper, not an editorial of your opinion. You are expected to write in research prose and support your content with academically sound resources.
• Your research paper should be a minimum of three full pages of content (not including the Title and References pages) supported by four sources in proper APA format.
All written assignments should be formatted using APA.
WK4 Designing Employee Incentives Presentation

Instructions
Objective: Explain how organizations link pay to overall performance.
Organizations recognize that base pay is not likely to be a sufficient motivation to keep employees engaged. For this reason, some organizations will include incentive pay programs to their compensation platform. The purpose of incentive programs is to not only attract, retain and motivate employees but to have a positive impact on company performance and profitability. Because of this, it is important that incentives are designed to link pay to overall performance.
• Read Chapter 13 Designing Employee Incentives.
• Watch the video Recognizing Employee Contributions with Pay.
• Assume that you have been hired by your healthcare organization to create a proposal for a performance-based incentive program. Design a PPT presentation that includes and justifies a minimum of five types of pay for performance incentives that you would recommend they include. Address what each incentive would measure and how compensation would be assigned. Be sure to include a minimum of 10 slides (not including your title and reference slide. Also be sure to support your presentation with at least 4 sources.
All written assignments should be formatted using APA.