The Effectiveness Of Hay Groups Reward System Business Essay

The Effectiveness Of Hay Groups Reward System Business Essay This paper aims to examine and evaluate the reward system that Hay Group, a global management consulting company, develops to meet its clients needs. Specifically, the compensation and benefits system of the organization is analyzed and discussed in depth, by investigating the internal processes toward this function and by assessing how the reward system affects the overall performance of Hay Group. The performance of the reward system Hay Group has developed for its clients is evaluated by examining the results that clients experience (i.e. size, profitability, reputation, market share, competitiveness, equity value, and leadership position) Company Description Company Information Hay Group is a human resources consulting firm operating globally, which aims at dealing with people-related business issues, while transforming the clients strategy into reality. Specifically, it is a global company operating since 1943, composed of over 2600 specialists working in 85 offices in 47 countries, focusing on helping private, public or non-profit organizations realize and understand their potential. Areas of Expertise The Company helps its clients by designing and analyzing jobs, dealing with their reward system (i.e. compensation and benefits) as well as developing performance and talent management systems. Achievements Hay Group has managed to become the leading company in the industry it is operating. The depth and breadth of knowhow not only has made customers trust the recommendations it provides, but also has become the reason for further achievements. Hay Group gains ground thanks to the database of organizational management information it has built, which has been awarded as the worlds most comprehensive and rich database in the related field. The creation of Hay Job Evaluation methodology, which is used worldwide by over 8000 companies, is one of Hay Groups most significant accomplishments, which offers international recognition. Hay Group, through this method, stresses the link between business success, employee motivation, reward, and employee contribution in the business strategy of the company. Specifically, it wants that firms reestablish discipline within compensation programs and better align pay with value creation; to ensure that Hay Group tries to develop reward programs that reflect each organizations business strategy and serve the needs of both firms and employees (HayGroup, 2001). Hay Group Compensation and Benefit Function Hay Group has employs a range of methods to develop its reward system, on which the clients compensation system is also based on. The various components that Hay Group uses in developing compensation and benefit systems are divided into five groups: Reward Strategies Job Evaluation Total Reward Framework Reward Information Services Benefits Reward Strategies Each company needs a reward program that should be in alignment with the overall business strategy and organizational culture. Only through this alignment a firm can ensure that both employees and the organization itself each fulfill their needs. Hay Group when dealing with its clients, it tries to provide a reward strategy that creates real business value. One of the first steps is to set up a salary system, which is an essential tool that companies must consider if they want to retain their employees. What actually Hay Group does, is to balance the technical, business and behavioral factors involved in remuneration. It does that by working closely in an ongoing basis with employees of the client company, something that helps Hay Group understand the firms business strategy, model, overall culture, resource capabilities, and current reward system. The demographics of employees are then investigated and according to these, priorities for salary management programs are set. After doing so, potential base salary equity issues are analyzed, the competitiveness of the firms salary program is measured and finally, Hay Group the salary program is communicated to the firms members to guarantee the programs clear understanding. Hay Group is promoting the idea of the developing a reward architecture, which is a method to define why people are paid. By answering the question what you reward your people for, the company focuses on employees (i.e. demographics and needs of different groups), controls costs and ensures that the right message is delivered to employees. By conducting employee surveys aimed at the determination of what is valued most and by looking at results, Hay Group helps in determining whether reward system outcomes are aligned with the firms reward strategy. Investigating whether the compensation system stands in a satisfactory level in respect to competitors is also part of Hay Groups tactics. Benchmarking its clients as well as it selfs reward system is an effective technique to identify if remuneration is competitive enough to recruit and retain personnel. To achieve that Hay Group provides access to PayNet, a database that enables companies to benchmark pay and benefits, interpret data, make comparisons, identify implications and uncover potential issues in respect to their reward system. It is significant to mention that Hay Group when developing reward systems, it distinguishes reward objectives in respect to short-term or long-term incentives. Short-term incentives usually include efforts toward culture cohesion, commitment, engagement and specific team targets, while long-term incentives involve the alignment of rewards with shareholder interests, retain of people and competitiveness of the compensation system. Total Review Framework Compensation systems must be aligned with the overall strategy of the company and represent the business reality in order to be effective. Hay Group, to have a clearer understanding of its clients reward systems, engages in a holistic model, presented above, which has as a starting point the strategy of the firm. untitled.bmp Through this model Hay Group can better understand the current remuneration program of its clients, and then develop the appropriate base salary that represents the firms requirements and reward strategy. Job Evaluation Job evaluation is a significant component in measuring and determining the value of jobs within an organization, a technique that helps in the establishment of the pay structure. Hay Group has developed a number of job evaluation methodologies; to enhance its efforts it created Hay Group Spectrum, a practice considered to be the next generation HR solution. As mentioned by Aspasia Voulgari, one of the Managing Consultants of Hay Group based in Athens (Greece), Hay Group realized that companies started losing the real value of understanding their work with the application of job evaluation by following a fragmented approach; this, emphasized the necessity for creating a more holistic approach that combines reward decisions, talent management and structuring work. Jobs, employees, performance, structure and pay can be connected, and, in that way, work measurement, work alignment, work fit, and work value are united. st.bmp

Community and Survival in Sula :: Sula Essays

Community and Survival in Sula Sula by Toni Morrison is a very complex novel with many underlying themes. Some of the themes that exist are good and evil, friendship and love, survival and community, and death. In Marie Nigro's article, "In Search of Self: Frustration and Denial in Toni Morrison's Sula" Nigro deals with the themes of survival and community. According to Nigro, "Sula celebrates many lives: It is the story of the friendship of two African-American women; it is the story of growing up black and female; but most of all, it is the story of a community" (1). Sula contains so many important themes that it is hard to say which one is the most important. I agree with Marie Nigro when she says that Sula is a story about community. I believe that community and how the community of Bottom survives is an important theme of the story. But I do not believe that it is a central theme of the story. When I think back on the novel Sula in twenty years, I will remember the relationship and friendship betw een Nel and Sula. I will not remember the dynamics of the community. One of Nigro's main points of her article is how Morrison shows how important work is to the community of Bottom in order to survive. Nigro believes that work is important in Sula because it helps define or not define such as in Sula's case, who the characters are. Nigro argues that the people of Bottom take survival serious because they live in a white male, world. The residents of Bottom do their best by working odd jobs and scrimping and helping each other when in need (2). But they know that they will always have to remain within the boundaries of the hostile white world (2). According to Nigro, survival is also very important for Eva and Hannah. They know they do not have much opportunity being black and female, so they prepare for the winter by canning food in the summer (2). Eva definitely knows how serious survival is because she goes to the extreme of cutting off her own leg (2). Jude is another character, Nigro points out, that needs work.

Conflict and Reconciliation Essay

A state primarily consists of three vital things, without which a state would no longer be called a state. These three things namely – people, territory and government. The three of them are dependent and interdependent on each other. It is difficult to have them separated and be considered as the sole cause of a problem. The territory is not in our hands, this is the land that we got after independence. The government is what runs the country, but, there is nothing that we, citizens can do. All we get to do is elect a representative party of the government every four years. And lastly, we have the people of the country. This is yet another vital component of a state. Without this, a state would be a deserted piece of land. (Muller, 2005) There have been instances where the so-called people of the land are not one. In fact, there have been conflicts between the people. Well, there are a lot of conflicts. But it is never the conflict that is harmful, it is never the clash of ideas that breaks the country, but the behavior of the conflict is what drives people away from being one. Once there is a rift between them, there is no going back. It is difficult to bring the people out from their then built in schemas. After a conflict which has taken out peace form one sect of the country, it is difficult to have them stop stereotyping the other one. There is a key word that I have used in the previous sentence. The word sect caught my attention as soon as I was done writing the sentence. I ask myself, is our country divided into sects? Is that what is causing the conflict? Is it the cause of the rifts that take place every day? Is it the cause of the grudges built in people? Is this what makes them stereotype others that are not in their sect? Well, after hours of pondering, I say yes. This is why we are not one. This is exactly why we can not have a civil discussion among people of different sects without having any clash of ideas. The division of sects in the country is the very reason of as to why we give the term â€Å"Many Americas† to this country. Let’s consider a couple of examples that might invoke us and might bring us to a conclusion that the division of people into sects is not the only cause of the so-called â€Å"Many Americas†. There is no doubt that we have different communities in this country. Well, every nation does, it is not like our nation is different from the rest. It is just that we do not have to over look the priorities and the benefits of the sects that are small in number. It is human nature to consider the things that are obvious and are right in front of us. Although it is not right not to consider the sects that are in minority. Lets take an example of the people contemporarily living in the country. We have a lot of Indians present, some are working, some are studying and some are living as illegal immigrants. In fact a lot of them are living as illegal immigrants. Definitely, the clash of ideas and compromise has to be there. Without compromise, the clash of ideas between them, will grow and will soon develop into huge unsolved rifts. This is just one trivial example. Just to mention that I am not considering the illegal immigrants, who are staying in the country because they want to and not because they can stay? Their story is pretty different. If they can not be hired for any job because they do not hold a passport or a green card or hold a long expired visa – well, they are to blame. There are different cultures, different religions, different races, cultures, beliefs, doctrines, creed, color. There is so much that has been separating us. This is what people usually say. I do not second their notion. It is highly incorrect for them to say that if some one is in the minority, they do not belong to this nation. If some one has a different skin color than me, they are just different. Well, I say such people are nothing but shallow. There is not much that we can do to make them turn around and understand that although there are people of different doctrines living in the same piece of land as us, but they are still Americans, they are still a part of us. Just telling them that they are wrong is not going to change any thing. The schemas that people develop and stick to the fore front of the minds of the people, do not just develop in a day. It takes a lot of years to develop them and it takes just seconds to make them even worst. By this I mean that it is difficult to drive the schemas out, however, it is not difficult to build upon them. It is easier said than done. Many Americas is not many, its just one. It’s a matter of perception. Let’s take a trivial yet crucial example of the positive instances never being counted or accounted for. I was with my friends at the beach. The Indians at school are known for stealing trinkets from the kids at school. My friend’s watch got stolen from our spot. We were all worried and the first thing that she did was point â€Å"I† for stealing it. Lets take â€Å"I† as the Indian girl who was blamed. Just because she was around our spot at the beach does not necessarily mean that she stole it. Well, she was embarrassed and humiliated in front of all the kids there. It was a school trip so all the kids from school were there. Her entire bag was toppled; all the things inside it were forcibly thrown out of it. I tried to stop my friend but, she would just not let it go; it was an expensive watch. Well, at the end we found out that some one’s dog took it. But the point of the entire story is that she did not do it. Even after the incident, they all still blamed the Indians for taking away things ever time something got lost. It is not a matter to be proud of. We are all one. We are all one nation. It is ok to share the same piece of land with some one who is a little different from us. Although this was just one example, there are many others that I will be mentioning about in the final paper. The entire point of this rough draft is that no matter how different one may be, we are all living and sharing the same piece of land. The belief that this is my land more that it is yours just because there are more people like me on this land than you; this idea is to be driven out of our heads as soon as we can before matters worsen. There is not much that we can do to make them forget the existing schemas and understand that although there are people of different doctrines and beliefs, living in the same piece of land we are, but they are still Americans, just like us and they are still a part of us. We all together make this nation. It is not just one sect or two, it is many Americas that make this beautiful, peaceful country, our country. And just telling those people that they are wrong is not going to change any thing. The schemas that people develop and stick to the fore front of the minds of the people, do not just develop in a day. It takes a lot of years to develop them and it takes just seconds to make them even worst. By this I mean that it is difficult to drive the schemas out, however, it is not difficult to build upon them. Hence, we are altogether one nation no matter how many creeds and sects our nation has. Reference: David J. Whittaker, Conflict and Reconciliation in the Contemporary World Gilbert H. Muller, Many Americas Reading and Writing across the Cultural Divides

Freud and His Castration Complex Theory - 939 Words

The skill of questioning has a long history and is a part of every makeup of every human living on Earth. The result of any inquisition can show that the individual of any society is not fully the same as his co-inhabitor. People can have different definitions about what makes a happy life. Some will lean towards the financially materialistic end with money, toys, and electronics, among other things. Others will travel to another level and say examples that can include family, health, faith, and morality. In order to provide concrete confidence to the understanding of both sides, one must consider two areas. The first is accountability to the own humankind of a person and the second is forced selections that are on the road to a complete†¦show more content†¦Responsibilities and consequences come with marriage and friendships. One side might not be thrilled with the decision that you make. Time management can become a huge issue in the decision of marriage. Either directly o r indirectly, the choices that are made by an individual have a varying degree of affect on other people in society. Comparing Becker and Sartre, one conclusion can be made. The fields of psychology and philosophy are intertwined. This mutual dependence can be illustrated by looking at the steps of decision-making. A person wants to be individualistic and carve their own niche to make their mark in society. Everyone in life has to make choices everyday. Influences are going to be around pulling a person from one side of the choice to the other. Unless a clear and succinct motivation is evident in a decision, a goal of the majority of people is to try to be a situationalist. The word used in the context of this analysis means that a person is going to try to base their choice on what is going to be the most beneficial to people in his or her life, and on the opposite end, the least harm. 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