Employee Motivation and Compensation
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I have the following task, and I need some help getting started to write about the future trends in Employee motivation and compensation for the Insurance Industry (companies like State Farm, AllState and Farmers Insurance over health care companies). Here are some requirements.
Write a 1,050-1,750-word paper in which you do the following:
a. Examine future trends and compensation models or plans and discuss how these will affect your chosen industry.
b. Recommend a strategy for ensuring that the reward system continues to align with organizational mission as the mission evolves.
c. Examine predicted future trends over the next 5-10 years with regard to contingent workers in this industry and suggest ways organizations in the industries can prepare for these changes.
You must reference at least two professional human resources journals (these may or may not be peer-reviewed) that analyze future trends in compensation and benefits, at least five peer-reviewed sources that address future considerations in compensation and benefits, and at least two industry or trade sources that discuss compensation and benefits challenges within your selected industry.
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In the Insurance Industry future trends indicate that employee motivation will depend to a great degree on the manner in which the employees perceive their contribution to be important. Not just the actual sale of insurance policies that they make but the positive impact of their efforts on the society and community. The Insurance Industry employees in future must be able to see the significance of their contribution to their department, to their company and to their society. This will be a strong motivator in future.
The second strong motivator in the Insurance Industry will be to encourage employees to have clear expectation. The employees must be able to anticipate their rewards, both financial and non-financial (2). In addition, the employees must be able to have clear expectations about their career path, their benefits, their bonuses and promotions. The employee must also be able to anticipate the growth of the Insurance Company and the Insurance Industry. The third strong motivator in the future Insurance Industry will be that of recognition. In future recognition will play an even greater motivating role in the Insurance Industry. The employees will work harder and strive more in the competitive Insurance Industry in future when they are recognized (5). The fourth strong motivation in the future will be a beneficial thrust from dissatisfaction. Controlled dissatisfaction of employees is an important part of motivation and will be used in the Insurance Industry in future. Fifth, in future the participation of the employees in goal setting and goal achievement will form an important part of the Insurance Industry motivation. The employees need to be made a part of the goal setting effort of the Insurance Company, then the employees will be strongly motivated to achieve those goals(7). Finally, there will be a host of subtle but powerful methods that will be used in Insurance companies in future to motivate their employees. Currently, companies offer flextime to their employees in future the Insurance Industry employees will have flex-place or the freedom to work from different ...
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