1 / 9

Maintaining a Quality Workforce

Maintaining a Quality Workforce. Chapter 8. Finding good quality workers is difficult, maintaining good quality workers is even more difficult. Flexibility and Work-life Balance. The ability to balance work life and personal life

ziya
Download Presentation

Maintaining a Quality Workforce

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Maintaining a Quality Workforce Chapter 8

  2. Finding good quality workers is difficult, maintaining good quality workers is even more difficult

  3. Flexibility and Work-life Balance • The ability to balance work life and personal life • Organizations that promote and support positive work-life balances are often more successful • Happy employees result in higher levels of achievement • Organization support includes; • flexible work hours • working from home • sick days • vacation days • personal days

  4. Compensation & Benefits • Employees are generally paid a standard salary or hourly-wage in exchange for their time at work, which is referred to as base compensation • Merit Pay • Pay increases in proportion to your performance • Waitresses making tips • Bonuses & Profit Sharing • Bonuses - one time payments, lump sums, based on performance • Profit sharing – profitable companies share a portion of ther profit with employees. • Gain sharing – employees that directly contribute to a reduction in costs or productivity gains, are rewarded.

  5. Compensation & Benefits Continued… … • Stock Ownership/Options • Stock ownership – providing employees with shares of stock directly from the organization • Stock options – providing employees with the option of purchasing shares of the company in the future at a fixed price. • Fringe Benefits • Non – monetary compensation • Pension • Benefits (family, flexible) • Assistance programs

  6. Retention & Turnover • Early retirement options can be offered to employees if the company needs to downsize or reduce costs • Termination allows organizations to relieve employees of their responsibilities when they are not being fulfilled adequately. • Wrongful dismissal allows employees to seek legal re-course against being fired for a discriminatory reason.

  7. Labour – Management Relations • Unions protect employee rights and negotiate on behalf of the workers. • Collective bargaining is a process where union representatives develop and vote on agreements for employee contracts. • Labour contracts are formal, binding agreements that state what employees are entitled to within their workplace.

  8. Small Group Activity • Canada’s Top 100 Employers http://www.canadastop100.com/national/ Task: Go to the website above and choose 1 company from the list of 2014 Winners and answer the following questions: • What is the criteria for judgement and being chosen on the list? • Name and brief description of the company • Why was the company chosen? How is it successful in attracting, developing, and maintaining a quality workforce?

  9. Homework • Page 259 – 262 • 13, 18, 20, 28, 29, 40, 44

More Related