PLEASE RESPOND TO THIS, I MUST COMPLETE A PEER REVIEW ON THE BELOW. Thanks
Please demonstrate critical thinking abilities. No fewer than 100 words for post.
For this response, should outside sources be used to support the content within the postings, proper in-text citations and correctly formatted references should be prepared consistent with the APA (6th edition). The list of references should be physically positioned at the end of the postings.
Conduct a self-assessment. What competencies (skills/ know hows) do you have and which ones do you still need to develop? Prepare and present an action plan that describes some of the things you can do to develop your own competencies in this field. What specific elements from our class can you use to help expand your own knowledge?
The clinic I work for is recently new and the owners/directors want to have control of the compensation and benefits decisions. Therefore, I have not had the opportunity to make decisions regarding compensation and benefits at the clinic. The directors have been the ones to make these decisions. However, with time and experience, they have showed interest in making me responsible for these decisions. This is a new project for them and want to be part of the decisions and understand this part of the business before appointing someone else with the responsibilities.
This class has helped me understand what is behind compensation and benefits, as far as, what it consists of and any legal issues that must be kept in mind. As I took the class and could put it into practice at work, I was able to understand the lessons. I have kept in mind what the company’s compensation system is telling our employees and the message they may be receiving. “Every compensation system sends a message to employees. Make a conscious decision about what message you want to send, and ensure all elements of the system are aligned with it” (Lynch, 2010). This helps for employees to understand what is expected of them and what they will receive in return. This is a topic the medical doctors do not pay attention to. They are in business and doctor mode they sometimes forget about the employees and their needs and the message the company is sending.
There are a lot of elements from this class I would like to continue learning about. It will only help me gain more experience as the manager. I would like to explain the elements to the owners so that they understand more of compensation and how it affects the employee’s productivity and loyalty, “compensation is a critical job satisfaction factor—especially among Millennial and Gen X employees” (Miller, 2016). I would specifically like to expand my knowledge on the government and legal issues in compensation that are important for the clinic to abide to.
Lynch, P. (2010). 10 Things Every Employer Should Know about Compensation Systems. Retrieved from Business Alignment Strategies Inc. website: http://www.businessalignmentstrategies.com
Miller, S. (2016). Better Pay and Benefits Loom Large in Job Satisfaction. Retrieved from Society for Human Resource Management website: https://www.shrm.org