Music Of New Millenium Essay Research Paper

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Music Of New Millenium Essay, Research Paper

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Competences are one of several factors, including public presentation consequences in finding one-year wage accommodations.

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What Is Competency-Based Pay?

? Valuing the how ( high impact behaviours ) of public presentation every bit good as the what ( consequences ) .

? Reinforcing high impact behaviours through wage bringing.

? Critical to success, but a bad topographic point to get down ; a good topographic point to go on.

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Competency Based Systems

Skills

Cognition

Attitude

Motivations

Traits

Necessary for Top Performance but non Sufficient to Guarantee it

Personal Properties and Behaviors that Predict Longer-Term Success

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Aligning Work Value and Pay

Knowledge Skills Abilities

Competences

Consequences

Base Salary

Incentive Wage

Merit Pay

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What Does it Measure?

? Job measuring is designed to graduate organisation functions. One compared to another.

? Focus is on the occupation, non the individual in the occupation. The individual is really of import to us, but how the individual is executing in the occupation comes subsequently.

? The most critical characteristic of a occupation is what are its end products. What are we inquiring the occupation to make for the organisation.

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Compensation Basicss

? Compensation system design is non merely about how much you pay but the comparative relationship between functions and wage.

? When it comes to compensation, persons are rarel

y nonsubjective about the impact of their ain function or public presentation in that function.

? Peoples, by nature, like to maintain path of their calling advancement. Titles are of import. Organization position is of import. Pay is of import. It is how we keep path.

? There is ne’er adequate money to travel around. Compensation direction is about equilibrating the allotment of a really scarce resource for the organisation. It is hard and controversial in every organisation.

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List of Competences for Finance/Industry Model: Personal Attributes A. Insight and Judgment B. Integrity and Ethics C. Continuous Personal Improvement D. Commitment and Performance Stability E. Interpersonal Orientation F. Project Management Skills G. Innovative/Creative Thinking H. Presenting/Speaking I. Business Writing J. Professional Demeanor Leadership Qualities A. Strategic Thinking and Planning B. Facilitating C. Negotiating and Persuading D. Teamwork E. Coaching and Empowerment F. Problem Solving G. Decision Making H. Cross-Functional Perspective Broad Business Perspective A. The Organization and Industry Knowledge B. Internal and External Consulting C. Business Relationships/Partnerships D. Current and Emerging Management Practices E. Best Practices F. Risk Management G. Mergers, Acquisitions and Strategic Alliances H. Management Accounting I. Organizational Systems and Processes Functional Expertise A. Financial Analysis B. Treasury Management C. Cost Management D. Human Resources E. Taxation F. Information Technology G. Control Environment H. Financial and Statutory Reporting and Accounting Principles I. Internal Audit J. Budgeting, Forecasting and Business Planning

Bibliography

Drucker, 1997

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