Evaluating employee compensation

Article Abstract:

The continually rising costs of pay and benefits is always a matter of serious concern to organizations. However, these costs are not subjected to the probing cost-benefit analyses that are routinely used for operating costs. This article explores some of the reasons for manager's indifference to these enormous expenditures. Drawing upon a recent study of how employees view monetary and non-monetary rewards, the authors present an 'Action Program' that managers can use to determine if their organization's compensation expenditures are generating the appropriate motivational responses. Illustrated by its use in a Canadian corporation, this diagnostic tool presents step-by-step procedures to evaluate the motivational effectiveness of each reward item of a compensation program consistent with the human resource objectives of the organization. (Reprinted by permission of the publisher.)

Incentives (Business)

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Do good, do well: the Business Enterprise Trust awards

Article Abstract:

In March 1991, the Business Enterprise Trust presented its first annual awards for acts of "courage, integrity and social vision" in business. The stated purpose of the awards is to honor those "who know there's more to good business than next year's bottom line." Predictably, an effort designed to "shine a spotlight on courageous and principled acts of business responsibility" would be met with skepticism by some members of the business community. And, even before the award winners were announced, Fortune cynically questioned the motives not only of the Trust but, by extension, of all business executives who claim to do good. This article explores both the validity of the Trust's efforts to reward business "virtue" and the arguments of those who claim that doing good is bad business. (Reprinted by permission of the publisher.)

Achievements and awards, Ethical aspects, Business ethics, Corporate social responsibility, Business Enterprise Trust

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Employee practices at the best managed companies

Article Abstract:

Employee involvement and a sense of well-being are attributes notable among this list of 'best managed' companies, which includes Atlantic Richfield, Control Data, Dayton-Hudson, Deere, Honeywell, Levi Strauss, Motorola and Weyerhaeuser. Union relations pose a singular problem which has to be dealt with effectively. Stock ownership and career-long training are two strategies that help to improve productivity by involving employees in the company's success. A winning managerial strategy is to offer flexible benefits on the premise that not all workers are the same. These companies seem to place a high regard on their employees' rights and responsibilities, simultaneously emphasizing individuality and team work to improve morale, motivate workers and realize higher productivity without sacrificing quality.

Psychological aspects, Evaluation, Management research, Employee morale, Supervision of employees, Employee supervision

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