Paper on Performance Related Pay

Paper on Performance Related Pay Performance related pay is a way of financially rewarding and acknowledging employees work, either for employees whose work is considered to be above average and to those whose work is presumed to have reached or supersede a required standard. Booth et al (1999) state that performance related pay is usually used when the performance of an employ in terms of output, produce and sales is not easy to measure. Therefore, performance related pay can be looked at as a form or means of incentive pay to the employee who deserve it. As a means of motivating employees, performance related pay is a method of reward, where employees are mainly motivated by cash bonuses, given in special occasions, or where the employees are warded, salary or wage increase. Performance related pay has got numerous advantages because the incentive that is offered can assist in increasing the performance of the staff. This is very evident since for a staff to be rewarded, he/she must have accomplished the goals and objectives as set. These goals can either be, personal goals, team goals or organizational goals, and sometimes, they can be a combination of all of them. In addition, it has been studied by scholars that direct incentive is the best way to motivate employees, hence, as PRP, which is categorized as one of the direct ways of giving a direct incentive to employees; it will help workers to reach the set targets. Another advantage of PRP is its ability to offer tangible reward to an employee. Most workers, as researches have revealed prefer tangible motivation to their contributions, or work that they have done, and as such, PRP stands a better chance of meeting this expectation. Also, it’s been investigated and found that when employees exp ect a reward or a motivation for their work, they tend to develop a unique performance culture which is healthy for achieving an organizations goals and objectives. And since PRP is a well known means of motivation, when used employees develop the kind of expectation which will introduce the performance culture needed for increased employee output, produce or sales. Thus, a good PRP system which is implemented without favors will reward the best performer. Indeed, employees are more likely or are better placed to focus more on the things they need to do or to improve on if they are aware that there will be a reward attached to them, mostly when the reward is attached to pay. Another outstanding advantage of performance related pay to the managers is its ability to establish a well structured way for setting goals which is of great importance to the line managers. And when the line managers derive assistance from such kind of corporate framework they tend to focus objectively to individual employees and as such they help improve the individual productivity and performance. Furthermore, good line managers can use this corporate structure for setting objectives and goals which are key in improving employee performance, thus making PRP one of the best incentive schemes in dealing with poor performance. Lastly, PRP’s structure enables it to reward the high performance and this can help in retaining the best and most industrious employees. One obvious disadvantage of performance related pay is its inability to sustain pay equity, and when not operated well, it can lead to reduction in pay equity, or further still it can make an authority to incur costly pay challenges. Also, the employee performance appraisal process is at risk of bias, since the appraisal may lose focus from developmental needs to financial rewards. Sometimes, the goals that are set for an employee to achieve may be so hard to meet and this can de-motivate such an employee. Another demerit of this kind of incentive is that it relies or depends on the quality of line managers judgment, and this can lead to prejudice or bias in the reward process because there is no standard measure of the performance output. Sometimes this kind of incentive can prevent team work and cooperation since every staff will put much focus on the individual work in order to meet individual goals and targets, thus as an incentive to reward short term quantifiable goals, perform ance related pay may be too narrowly focused. Ultimately, PRP can create expectation of additional pay every year and in a year that inflation crisis befall, the rewards may not be that great. In summary performance related pay is important in motivating and maintaining talented and most industrious employees as well as getting those employees who are not motivated to improve on their productivity(Booth et al, 1999). On the contrary, performance related pay may be disastrous in that it may be a cause of division for employees if they sense that the line manager is treating them with bias, either unfairly or unequally. However, this is not likely to

Native Americans Of The New World - 949 Words

The remains of Kennewick Man tell us that humans migrated to the new world in waves. The Native Americans of the new world are probably not the original humans there. Based on DNA evidence and skeletal structure (predominately skull, but also pelvic as well as other aspects), the remains appear to have come from persons who resembled a more Caucasoid ancestry. It appears that through openings in continental ice sheets, (Land Bridge Theory) small populations were able to migrate south to the Americas. While many of the prehistoric remains which are found appear to not be related to present-day American Indians, the two groups did share the same region, albeit, apparently at different time periods. Kennewick man, in almost every aspect, resembled that of a Caucasoid, but could have not possibly been European--He actually resembles Ainu of Japan more than any other human population. This is due to the fact that migratory routes at the time seemed highly unlikely, as the population w ould have to have come from the Bering Strait. Openings and migrations of mega-fauna and other available food sources appears to be the main motivational factor for humans migrating south along the pacific coast. (Clovis Culture) Also, as was shown in class, there could have been an opening in the continental ice sheet in the present-day country of Canada. This could have also allowed both food and humans to migrate south in a slow, non-intentional manner, or in a fast all-at once mannerShow MoreRelatedNative Americans And The New World1261 Words   |  6 Pageshow the world expanded immensely starting in the 14th Century. By discovering a New World, opportunities for growth, development and freedom emerged almost instantaneously. But, the new conquers, particularly the British, faced many problems with the Native Americans and struggled with ways to coerce them into performing laborious tasks. Labor played a huge role in the New World, it served as income, means needed to survive and really make it in the new colony. Originally, Native Americans who hadRead MoreNative Americans And The New World1308 Words   |  6 PagesBeginning in the Sixteenth Century, Europeans sought to escape religious and class persecution by engaging on a journey to the New World. However, they were unaware that this â€Å"New World† was already inhabited by many groups of Native Americans, who had been established on the continent for thousands of years. At first, the two ethnic groups lived in relative peace. The colonists of Jamestown survived due to Powhatan’s tribe teaching them how to cultivate the land. However, things took a twisted turnRead MoreNative Americans And The New World1497 Words   |  6 PagesThe European colonists and the Native Americans of the New World were divergent from one another than similar. Native Americans had a more primitive lifestyle than the Europeans modern way of life. Europeans referred to themselves as â€Å"civilized† an d looked at Native Americans as â€Å"savages.† In spite of that, Benjamin Franklin corresponded in, Remarks concerning the savages of North America, â€Å"Savages we call them, because their manners differ from ours, which we think the perfection of civility; theyRead MoreNative Americans : The New World Essay1909 Words   |  8 Pageswith Native Americans has been a constant with outsiders since explorers first â€Å"discovered† the New World. The biggest surge in this fascination came in the mid-19th century when the Indian Wars were starting to come to an end and the belief that Native Americans were disappearing, walking into the sunset never to be seen again. This led to an increase in the collecting of anything Native American, from artifacts to stories to portraits. The inevitable outcome of this was that Native Americans, whoRead MoreNative Americans And The New World1976 Words   |  8 PagesWhen the colonists decided to travel to the New World, they were looking for the New World to better their lives. They came to gain knowledge of the world; which eventually they did from the Native Americans, and their own experiences. They were hoping for better opportunities within their colonies such as learning to manage money, to hunt and fish, and build homes for themselves; many did not know how to do these things before their travel. In the New World, they were also able to gain freedom, somethingRead MoreEssay about Europeans and Native Americans In The New World1107 Words   |  5 PagesEuropeans and Native Americans in the New World Disease and Medicine along with war and religion were three ways American history has changed. When the colonists came over from Europe they unknowingly changed the world forever in ways they couldnt have imagined. These effects were present to both Native Americans and Europeans. Some of these changes made life easier for both Native Americans and Europeans but some made relations worse too. And some effects wouldnt show up until it was too lateRead More Disease and Native American Demise During the European Conquest of the New World3721 Words   |  15 PagesDisease and Native American Demise During the European Conquest of the New World The European conquest of the new world was most commonly attributed to the superiority of the Europeans in all the facets of their confrontation. They had the superior weaponry, and were thought to have a superior intellect. After all, they were just bringing civilization to the new world, right? It sounds nice when you are learning about Columbus in grade school, but the traditional story is pretty far fromRead MoreEuropean Colonization Of The New World1224 Words   |  5 PagesEuropean colonization of the New World began during the European age of exploration and following the discovery of resources in the New World. The various motives of the Spanish, British, and French imperialists were reflected in the political, economic, and social changes that occurred in the areas each government claimed. These changes are very distinctive and led to drastic changes in their respective areas. Spanish conquistadors sought gold and treasure from uncharted lands. Backed by the infantileRead MoreAnalysis Of Colin Calloway s The First Colonies 1539 Words   |  7 Pagesaudience that neither the Colonists of the New World nor the Native Americans were considered monolithic. Instead, they were much more nuanced in their understanding of the multifaceted attributes of the cultural associations in the Colonial United States. Calloway surveys this intriguing story with illustrative and detailed ways that offer a pertinent starting point for any individual wanting to know more about how the European people and Native Americans cooperated or interacted with one anotherRead MoreEarly Settlers and Native Americans1038 Words   |  5 PagesEarly Settlers and Native Americans The entire clash of two different cultures dates back all the way into the beginning of the early European arrival. All the different countries in Europe were all trying to find there own place in the new world by claiming the land for their country. The English were among one of the first Europeans to arrive in the new world; and establish the first permanent settlement called Jamestown. The English later extended their settlements along the Atlantic coast,

Traditional Marketing and Online Consumer †MyAssignmenthelp.com

Question: Discuss about the Traditional Marketing and Online Consumer. Answer: Introduction: Every organisation is in business of selling product a service. The strategy that drives the company to its success is combination of different functional strategies of that business including marketing strategy. Different activities of marketing are product selection, pricing and promotion, place or channel of marketing selection, customer profiling as well as customer relationship management, competitor identification and give feedback to the company of the product or service (Miller and Tucker 2013). Product or service category health care Demand of the product or service the percentage of patient compared to the population Competitive background of that industry the healthcare industry and its competitors Strategic decision regarding place selection the centre of giving the service Trend of buying Trend availing the service of healthcare Pricing of the product or service pricing the medicine and care service Promotional channels social marketing and societal marketing TIMELINE OBJECTIVES ACTIVITY PLANNED PERFORMANCE MEASURE CHANNELS FOR PROMOTIONS 5 months To focus on the advertisements Segmentation, targeting and positioning Number of division in clusters Through events 2 months Increase the number of client Client contact program Number of leads generated Official online media 6 months Customisation Development of specialised services Variation in customisation Direct selling or demo 1 month Growth assessment in referral Client referral program Number of client got through referral Emails and messages 2 months Increases visibility and acquiring new clients Email or newsletter broadcast Number of email reverted Gmail, and real-time mail services 4 months Increases visibility Sponsorships Number of sponsored events 8 months Increases visibility Television Advertising TRP Different regional channels 3 months Increases visibility and acquiring new clients Networking with health care communities and attorneys The number of clients generated The nurses are one of the most important roles in healthcare service to acquire success in Calvary hospital. They are in the front-end function and their responsibility includes, increasing the positive word of mouth of the health care service. The performance of these persons is measured by repeat visits of patients. The objective of those persons is crucial. The other person whose role in marketing is crucial is the social marketing manager of the organisation, whose responsibility as well as objective is to promote the company and their service among the common people. His performance will be measured in terms of market return on investments. Monitoring means regular observation of different activities. Recording the programs and routinely gathering information of different activities come under monitoring process in an organisation, Calvary hospital. Analysing the marketing activities of an organisation ensure the outcome of the business is in harmony with primary goals in Calvary hospital. Monitoring the performance of the company through analytics software has become the trend. There are several software to evaluate the performance of the company, like Google analytics, Firestars and Adobe site catalyst (Miller and Tucker 2013). The return on investment is one of the major evaluation elements of marketing activities. Market share, earning profits percentage and number of customers are also major indicators of performance. Organisations in healthcare analyses their marketing performance against their marketing plan by Key Performance Indicators in Calvary hospital. Customer retention Marketing Return on Investment Cost per customers lead Overall patient satisfaction Number of media mentions To monitor the marketing services in a healthcare the production, promotion, distribution and pricing functions needs to be monitored. To monitor the product performance the key performance indicators in Calvary hospital that needs to be analysed are medication error, patient vs. Staff ratio, Patient follow up , patient wait time, bed or room turnover. To monitor the pricing the indicators are average health claim processing time and cost, claims denials rate, average treatment charge, employee wages. For promotional activities, the indictors are number of patients compared to other healthcare organisation, customers, marketing return on investments, cost per client, referral. Calvary hospital always takes three factors in consideration to evaluate and monitor the key performance indicators. The bottom line or the final balance of the organisation. The profit against volume sold and margin of profit gained. The other factor in evaluation is the metrics of the company known as key performance indicators. The return on investment to evaluate success on the capital invested (Miller and Tucker 2013). Strengths number of specialised expertise, strong customer relationship management, regional recognition, quality of customers repeated visits, Weakness lack of income diversification, lack of upgraded IT support in performance, no significant hard assets. Opportunities alignment of practises, increasing marketing efforts, create awareness of the companies services and products Threats reimbursement problems, self-referral and in-office imaging, increasing the number of after hour works may increase attrition rate To maintain the relevance and viability of the companys performance the communication between the stakeholders and company personnel are intranet, social media, chat rooms, formal meetings, private group messaging and collaborative spaces, file transfer and discussion forums (Reidenbach and Robin 2013). Marketing objectives of Sydney Multi-Speciality Medical Centre The main marketing objective of this newly formed company must be to increase the number of clients in their clientele list for the first two years through positive word of mouth and choosing a strategic location of the healthcare building. To increase the number of clients in their healthcare, it also must be considered the societal marketing of their services through online media. The number of clients must reach 600 clients at the two years. Other SMART marketing objectives are to increase market awareness and visibility of the company in the country. With already residing many numbers of competitors, they must separate themselves in giving unique services of healthcare to their patients(Miller and Tucker 2013). In addition, the customer relationship management must be good for the company to thrive and achieving positive word of mouth. As the market, entry barriers are less they have the advantage capturing the whole market in Sydney. Primary stakeholders of the company are those who are directly related to the company. It includes strategic partners and clients, staff in the payroll of the company, manager personnel, and shareholders. The secondary stakeholders of the company are media team, government, bank, associations, and competitors. The primary and secondary stakeholders have interrelationships as both are directly or indirectly related to the performance of the company. The most important part is the involvement, interest and influence of them in the strategic decision-making (Reidenbach and Robin 2013). Effectiveness of the engagement of key stakeholders is a process and analysing the stakeholders is must for Sydney Multi-Speciality Medical Centre. To engage them more in the process the periodical meetings, discussion forums and other communication platforms must be created. Based on their involvement they must significantly involve them in the working process. Further, the information sharing must be considered among the stakeholders (Srinivasan et al. 2016). Ethical issues in the following aspects Marketing research the reliability and consistency of the data collection process is major part to be considered. The authenticity of the data collection process must be maintained (Gupta et al. 2013). Pricing the correct prices must be advertised in their promotion. The penetration pricing also must be avoided. Places (distribution) the place of service rendering are should be legal and any imposition should be avoided (Josyula,and Lyle 2013). Advertisements - the advertisements of the company should communicate the proper messages to their customers. Manipulation of the messages must be avoided. Sales promotion misleading and deceptive conduct must be avoided. The regression analysis of the marketing activities is an efficient method of gauging the trend of the company. This method will ensure trend in the company are in positive pace. This will also predict future trend of sales. Length of sales lifecycle is customer centric and based on the success rate of the company (Gupta et al. 2013). This requires data crunching of the historical data by categories. Different types of deals are included in this process. Opportunity stages with the accuracy of data are incorporated in this process (Christopher et al. 2013). Length of lifecycle data will create an algorithms based on different types of deals. The number of average repeat customers is considered separately in this matter (Vuori et al. 2013). Implement the marketing activities the services effectiveness To recruit a team to evaluate the marketing plan for the company Achieve 12% more market share by first 5 years of commencements of their business. Customer relationship management training of the company CRM driven promotion through mail Service recovery standard must be maintained in the company (Martensen and Mouritsen 2014) Supporting the site selection activities Research care utilisation patterns in the industry Developing targeted promotional campaign of the company while maintaining the ethics of the company(Mackey and Liang 2013) Marketing activity By whom it will be implemented How it will be implemented By when it will be implemented Client generation (service) Sales manager Advertisements and promotion Within 2 years Place selection or distribution Strategic partners and operational executives Purchasing land or leasing places in Sydney 6 months Pricing Marketing team Market skimming pricing (Martensen and Mouritsen 2014.) 3 months Promotion Marketing team Through promoting through channels and other activities 8 months Reference Christopher, M., Payne, A. and Ballantyne, D., 2013.Relationship marketing. Taylor Francis. Gupta, A., Tyagi, M. and Sharma, D., 2013. Use of social media marketing in healthcare.Journal of Health Management,15(2), pp.293-302. Josyula, L.K. and Lyle, R.M., 2013. Barriers in the implementation of a physical activity intervention in primary care settings: lessons learned.Health promotion practice,14(1), pp.81-87. Mackey, T.K. and Liang, B.A., 2013. Pharmaceutical digital marketing and governance: illicit actors and challenges to global patient safety and public health.Globalization and health,9(1), p.45. Martensen, A. and Mouritsen, J., 2014. Prioritising investments in marketing activities to improve business performance.Total Quality Management Business Excellence,25(5-6), pp.582-601. Meyer, P., 2015. McDonalds Marketing Mix: 4Ps Analysis.Panmore Institute. October,7. Miller, A.R. and Tucker, C., 2013. Active social media management: the case of health care.Information Systems Research,24(1), pp.52-70. Reidenbach, R.E. and Robin, D.P., 2013. Some Initial Steps Toward Improving the Measurement of Ethical Evaluations of Marketing Activities. InCitation Classics from the Journal of Business Ethics(pp. 315-328). Springer Netherlands. Shankar, P.R., 2017. Fact or fiction? What healthcare professionals need to know about pharmaceutical marketing in the European Union. Simanjuntak, E.R., Balqiah, T.E. and Pawitra, T., 2016, July. CRM CAPABILITIES AND MARKETING EFFECTIVENESS: THE MEDIATING ROLE OF INTERACTIVE MARKETING IMPLEMENTATION. In2016 Global Marketing Conference at Hong Kong(pp. 892-893). Srinivasan, S., Rutz, O.J. and Pauwels, K., 2016. Paths to and off purchase: quantifying the impact of traditional marketing and online consumer activity.Journal of the Academy of Marketing Science,44(4), pp.440-453. Vuori, I.M., Lavie, C.J. and Blair, S.N., 2013, December. Physical activity promotion in the health care system. InMayo Clinic Proceedings(Vol. 88, No. 12, pp. 1446-1461). Elsevier.