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This 3-page paper attempts to link compensation with employee motivation and achieving organizational goals. Bibliography list 3 sources.
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3 pages (~225 words per page)
File: AS43_MThumacomp.rtf
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Unformatted sample text from the term paper:
like to get paid for work that they do. But can compensation, and extra compensation (such as used for bonuses) be used to help achieve organizational goals? Though compensation hasnt
necessarily been considered a strategic plan when it comes to recruiting and retention, a strategically designed compensation plan can go a long way toward helping move an organization toward its
goal (OConnell, 2007). But there is more to a compensation plan than simply deciding that a bunch of employees need a raise. There needs to be the correct balance
between organizational goals and employee needs (OConnell, 2007). But in recent years, compensation has gotten somewhat of a bad reputation, especially compensation in the form of so-called "Golden Parachute" contracts.
(Evans and Hefner, 2009). Golden Parachutes, an excess form of compensation, offered substantial payouts to senior management following a particular acquisition or merger (Evans and Hefner, 2009). In the meantime,
other stakeholders, such as employees and suppliers, were subject to layoffs and disruptions (Evans and Hefner, 2009). Though theyve been portrayed horribly by the media, Evans and Hefner (among others)
point out that Golden Parachutes and other forms of executive compensation actually help stakeholders - sometimes they encourage a merger or acquisition instead of a bankruptcy. Furthermore, such compensation helps
protect recently hired executives human capital during periods of instability and uncertainty (Evans and Hefner, 2009). It may not seem this way, of course, as employees are being laid
off. But in some situations, provided the executives are genuinely trying to restructure a deal that will keep a company going in troubled times (as well as trying to preserve
shareholder wealth), compensation, especially executive compensation, can go a long way toward keeping the organization functioning. Furthermore, there is little doubt that people appreciate raises and miss them when
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