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By Heyl P.R.

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The external value is the dollar value associated with a job given the organization’s rewards strategy. This value is the amount that the company is willing to pay based on competing offers in similar functions with comparable responsibilities and requirements. At most companies, the rewards structure has corresponding administration procedures. These include base pay guidelines, incentive compensation eligibility rules and funding guidelines, promotional increases policies, administrative governance accountabilities, and related measures and procedures.

9. Be personality neutral: The positive impact of goal setting applies to all types of people. If the goal is appropriate, and the employee wants to succeed, then the personality of the individual has little impact on the result. These propositions are valid regardless of the rewards program, whether base salary progression, short-term incentive, long-term incentive, or recognition. 1 Thus, in order for people to be successful in meeting their goals, three components must be in place: 1. Clarity—people need to know what to do, what is expected of them.

This is the most important determinant of whether employees stay and whether they make a maximum effort to achieve company success. To take full advantage of your organization’s rewards structure, as a manager you need to: • Know the business of your business. How does work get done and how does the company create economic value? • Know who the high performers are and why. What is it that they do and how does that make a difference? • Recognize your company’s predominant culture and understand its attributes.

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A Redetermination of the Newtonian Constant of Gravitation by Heyl P.R.

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