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HRM613 - Performance Management

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  • HRM613 GDB 1 Solution and Discussion

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  • HRM613 Quiz 1 Solution and Discussion

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    cyberianC

  • HRM613 Assignment 1 Solution and Discussion

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    zareenZ

    TENTATIVE SOLUTION:
    The Rewards are categorized into two group’s financial and non-financial rewards. The financial rewards are also called extrinsic rewards and non-financial rewards are called intrinsic rewards. Financial rewards:
    This type of rewards comprises of:
    • Basic pay
    • Contingency pay
    • Bonuses
    • Commission
    • Incentives
    • Pension
    • Gratuity
    Non-Financial rewards:
    This type of rewards comprises of:
    • Recognition
    • Employment security
    • Challenging work
    • Growth opportunities
    • Personal relationship at workplace
    • Autonomy
    Horizon’s services Ltd. had chosen non-monetary rewards to motivate its workforce, which ultimately helps to improve the quality of customer services and efficiency. As a result, employees are motivated to contribute more towards the organizational success because they are given recognition and appreciation for their contribution. Moreover, employees have been given autonomy as a non-financial reward so that employees have the choices that they manage their own actions.

  • HRM613 GDB 1 Solution and Discussion

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  • HRM613 Quiz 3 Solution and Discussion

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    zareenZ

    Sometimes employee’s performance is highly based on his/her ability to perform; in such situations salaries are based on employee competency. This type of salaries is termed as:
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