Question

What are the identified weaknesses in your organization’s Compensation
System? Suggest better models for the company.

Answer 1

shortcomings of association's Compensation System are-

1-Sometimes, parties managers and representatives differ over deliberate or unexpected resistance with certain lawfully restricting arrangements overseeing worker benefits.

2-Breaching explicit arrangements and neglecting to pay maintenances pull in lawful expenses, which should be settled up to get away from issue with the law. In any case, that, in itself, turns into an issue for certain associations and their workers.

3-Sometimes, representatives will consider medical advantage designs too costly in light of the fact that, by the day's end, their manager may deduct more cash than they're paid as medical advantage.

4-Bigger organizations, which are compelled by a solemn obligation to pay a bit of their worker's advantages, spend more on representative advantages than littler organizations on account of the size of their workforce.

5-When there's a need to set up extra offices in an association to guarantee a productive administration, there'll additionally be a necessary increment in workers, which will prompt an expansion in representative advantage related costs.

6-Employee rewards can conceivably become disadvantageous on the grounds that they can prompt representative competition instead of energize worker collaboration. For instance, if a business rewards representatives with rewards dependent on hourly work for the year, representatives will be probably not going to impart work to their associates, which can bring about wastefulness since certain representatives would need to take on more work than they can subjectively deal with while others are left with too little work to do.

I would recommend the total package model for the organization

The total package

It is additionally imperative to consider how motivations may be incorporated, past wages and advantages. For instance, will the impetuses be given out in a group premise or dependent on singular execution, Generally, the general plan of the package dependent on different models likely decide how motivations for execution will be given on the off chance that they are to be a piece of the package. New businesses normally favor a group based methodology consistently, as it energizes cooperating and taking care of business. This is additionally generally valuable in a quickly changing condition with adaptable sets of responsibilities. Consequently, even with pay rates and advantages arranged one-on-one, you may decide to have a group based impetus program.