Portfolio
Balance Sheet approach compensation system for Disneyland employees
Disneyland use a balance sheet compensation system.
The balance sheet compensation system is the one most commonly used in the United States, and it focuses on short-term incentives. It is important to get immediate results from your employees, and this method rewards employees for those results.
It also ensures that everyone is paid fairly by looking at each employee's salary history, which means you don't have to worry about whether or not someone deserves more or less money than someone else who does similar work—you can just look at what they have done in the past and compare it to what other people have done in similar positions.
The drawbacks of this method are that it can create uncertainty for employees who do not receive raises as often as others who do get them; it's also difficult to determine which company policies would be considered "performance-based" enough to warrant a raise under this method (as opposed to just giving everyone an annual raise).
Reflection
Skill
I have learned how to use the balance sheet compensation system for Disneyland employees. It is a very important tool that helps us understand the financial health of our company. I have learned how to use it by watching my manager and other coworkers who have more experience using this software. I have also been able to learn about how it works by reading the instructions and doing some research online.
Knowledge
I learned in this course that compensation systems can be used to incentivize employees and motivate them to perform better. They can also be used as de-motivators if they are misused. I think it's important to learn about how compensation systems work so that you can use them when they are appropriate, and not use them when they are not appropriate.
Behavioral
Changes
I have learned that it is important to be aware of the balance sheet compensation system and how it can affect the behaviour of employees. I have also learned that it is important to understand how to manage the balance sheet compensation system in order to increase productivity.
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Future
As a future manager, I am going to implement a balance sheet compensation system for Disneyland employees. The reason I believe this is important is because it aligns the interests of employees with those of the company. By doing this, I hope to build trust and loyalty within our organization.