Job Analysis Compensation Report - Course Name, University

This report examines the critical aspects of job analysis and compensation, particularly focusing on reward systems and their impact on employee performance. It highlights the importance of assessing the effectiveness of reward systems, providing insights into how manufacturing companies can evaluate their compensation strategies. The report discusses various methods for evaluating reward systems, including employee opinion surveys and the assessment of operational metrics such as turnover and engagement rates. Furthermore, it emphasizes the use of key performance indicators (KPIs) such as turnover rate, staff satisfaction, and productivity to measure the success of reward programs. By analyzing these metrics, companies can gain a comprehensive understanding of their compensation practices and make data-driven decisions to improve employee satisfaction, engagement, and overall organizational performance. The report stresses the significance of aligning reward systems with business objectives to foster a motivated and productive workforce.

Running head: JOB ANALYSIS COMPENSATION
Job Analysis Compensation
Name of the Student
Name of the University
Author note

1
JOB ANALYSIS COMPENSATION
Rewards system has been an integral part of every business because it helps the organization to
retain their employees as well as to perform better. There are various types of reward system
such as financial, non-financial rewards and others. However, it is important for them to analyze
the reward system they have for its effectiveness (Güngör, 2011). For example, a manufacturing
company can conduct a systematic process to evaluate its reward system effectiveness from
multiple perspectives. Some of the ways he can do so is through:
 Use of employee opinion survey to know the feelings of the employees about the fairness
of the employee reward program
 Assessing the results of the employee reward system on operational level such as
turnover and engagement.
 Calculating the effectiveness of the rewards system through ROI, reward program costs,
value added by the employees and others.
The manufacturing company calculate the effectiveness of the reward system based on these
areas. The measures will be done based on certain metrics so that they can improve the rewards
system (Ajmal et al., 2015). The effectiveness of the reward practices will be done based on
metrics such as:
 Turnover rate of the employees
 Staff satisfaction rate
 Appraisal management
 Profit increase
 Vacancy rate
 Time taken to fill vacancies
 Budget costs of the rewards system

2
JOB ANALYSIS COMPENSATION
 Skill level of staffs
 Job offer refusal rate
 Growth in productivity per employee
 Value added in the organization
All these metrics will help the manufacturing company to measure the reward system of the
organization.

3
JOB ANALYSIS COMPENSATION
References
Ajmal, A., Bashir, M., Abrar, M., Khan, M. M., & Saqib, S. (2015). The effects of intrinsic and
extrinsic rewards on employee attitudes; mediating role of perceived organizational
support. Journal of Service Science and Management, 8(04), 461.
Güngör, P. (2011). The relationship between reward management system and employee
performance with the mediating role of motivation: A quantitative study on global
banks. Procedia-Social and Behavioral Sciences, 24, 1510-1520.