The recent economic turmoil has increased the government’s focus on how the governing boards of organizations design the compensation and benefit program, particularly executive compensation and bonuses. The increased focus is causing organizations of all sizes to review their compensation programs and draft compensation philosophy statements that reflect these fundamental issues. We have all heard in the news of these executives of corporations who are getting millions of dollars in compensation and benefits while the company they are leading is actually performing poorly, and the employees are suffering for it through decreased benefits and layoffs. This is something that has become prevalent in many corporations today.
Performance Measures
Job standards included in a performance evaluation are often considered the most effective in an objective process. However, job standards are not always easy to write and incorporate into a performance evaluation process. As you are likely aware, sometimes job standards are somewhat subjective and difficult to quantify or evaluate. If you look at the different job standards that you have for your current job or a previous job, you will likely find some that are difficult to really evaluate on a performance evaluation. Therefore, it must be made clear to the employee how he or she will be evaluated on the different standards, if at all.
Assignment: Evaluate the Role of Performance Measures
Write an analysis of the essential components of job standards. Assess these components and analyze why job standards are difficult to incorporate into performance evaluations. Support your analysis based on current research incorporating three journal articles or publications into your response. Think about the importance of performance measures in compensation practices, particularly in pay for performance programs. Are they necessary and useful in the overall compensation strategy which attempts to link performance and pay?
Support your paper with minimum of five (5) scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Length: 5-7 pages not including title and reference pagesLength: 5-7 pages not including title and reference pages
Your paper should demonstrate thoughtful consideration of the ideas and concepts and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.
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