General Business BUS206 Lecture Notes - Lecture 10: Training And Development, Weighted Arithmetic Mean
22 Sep 2020
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Other rewards that influence the decision to stay. Skill-based pay is intended to pay employees for learning new skills. Evidence indicates that pay for skill may not increase productivity, but it does focus people on believing in the importance of quality and in turning out significantly higher quality products. A well-designed plan linking pay to behaviors of employees generally results in better individual and organizational performance. Methods include straight ranking, alternation ranking, and paired-comparison ranking. Requires evaluating employees on some absolute standard rather than relative to other employees. Each performance standard is measured on a scale whereby appraisers can check the point that best represents the employee"s performance. Examples: standard rating scale; behaviorally anchored rating scales (bars); management by objectives (mbo) In both the standard rating scale and bars, overall performance is calculated as some weighted average of the ratings on all dimensions.
