Project Management Plan
Employee Incentive Program
October 13, 2014
Project Management Plan
Attracting skilled employees is often important and often difficult. Employers face major challenges when they consider the increasing difficulty of finding skilled people every company should have an employee incentive program if it is sales and especially for university enrollment advisors because they are the ones that bring business into the university. The project scope of Title IV of the Higher Education Act of 1965 strict accreditation regulations and laws prevent the university from offering bonuses to employees who enroll students.
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The employer should have organization capabilities, business strategy and organization structure that leads to an employment deal for competencies, demographics, and values. With that employment deal it leads to a total reward strategy with pay, benefit, learning and development, and a good work environment.
The basic salaries of the project team members will not be changed. However, special compensation will be given for their overtime and travels related to the project. After the project is completed, all team members will be evaluated and those who will receive satisfactory and very satisfactory performance appraisal result will be given financial rewards.
The total reward policy should state that although contingent rewards play an important part in the reward policies of the organization other forms of non-financial reward are regarded as being equally important. The reward system is an important means of communication. The effective reward strategy consists of well-defined goals and objectives, well designed pay and rewards programs according to the needs and an effective and supportive human resources department. The performance related pay can be based off score driven bonus, customer satisfaction surveys, shareholder returns profitability versus target, process excellence, learn and grow. These rewards can bring in some conflict with employees if some or one employee does not get any customer satisfaction surveys, absence of learning and development, lack of customer service awards, lack of relationship between pay and performance, pay levels and benefits entitlement strongly related to the length of service, and lack of variable of portion of pay. This is something that will have to be explained to all employees from the first day of hire.
The considerations for rewards are the level of rewards, the relative importance attached to market rates and equity, attraction and retention, the relationships of rewards to business performance, and total reward policy, the scope for the use of contingent rewards related to performance, competence, contribution or skills, assimilation policies, the degree of flexibility required, the role of line managers, involve employees in the design of reward system, communicate the reward policies to employees, transparency.
Market rate and equity policy needs to be formulated on the extent to which rewards are market driven rather than equitable. Should obtain and keep high quality staff and response to market pressures. Market considerations will derive levels of pay in the organization. Attraction policies should have career prospects, training and development, intrinsic interest of the work, flexible working arrangements, and work life balance. Retention policies should consist of Talent management (attraction and retention of quality employees). Talent management policies are to attract employees, to develop employees, rretain employees, and mmotivate...