Xcel Energy

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Xcel Energy Pays For Employees

Xcel Energy Pays For Employees

Kaplan University

MT203-04: Human Resources Management

Professor Denise Rodgers

September 20, 2011

Xcel Energy Pays For Employees

Incentive pay is usually given for specific performance results rather than simply for time worked. Incentives can do much to increase worker performance. Organizations select forms of incentive pay to control employee’s behavior and boost employee morale. For incentive pay to motivate employees to contribute to the organization’s success, the pay plan must be well designed and fair to all employees.

If Xcel implement merit programs, then there more likely to succeed rather than paying out for employee suggestions. Xcel new programs will create a fair compensation amongst managerial employees and non-managerial employees. Instead of paying a substantial amount to particular employees suggestions. The merit will include ESOP and profit sharing plans that allow employees to purchase stocks at specified price and earn organization profit.

Xcel should encourage employees to communicate and participate in decision. Employee participation in pay- related decisions can be part of a general move toward employee empowerment. Communicating with employees is important because it demonstrates that the pay plan is fair and helps them understand what it expected of them. Communication is especially important when the organization is changing its plan. If company follows these guidelines then employees should respond well when they see a company being consistent and concern about their employees.

To be effective, Xcel merit should encourage the kinds of behaviors that most needed, and employees must believe they have the ability to meet the performance standards. Employees must value the rewards, have the resource they need to meet the standards, and believe the plan is fair.

From my experience, incentives are a great way to boost...