Current or a previous job

Sample Solution

  I will be discussing a job as a Customer Service Representative. This position is responsible for answering incoming customer inquiries, creating and managing customer accounts, making product and service recommendations, processing orders and returns, handling billing inquiries and payments, resolving customer complaints in a timely manner, keeping detailed records of customer interactions, suggestions for process improvements to increase efficiency or effectiveness of customers service operations.

A compensation approach that aligns with reinforcement theory would incentivize the representative to meet goals during their shift. These goals could include increased upselling opportunities or number of calls answered in an hour among others. An aggregate individual score at the end of each month based on achieving these performance objectives could then result in a bonus payout beyond their base salary. The advantages of this plan would be that it encourages employees to strive towards specific performance targets which leads to increased job satisfaction when achieved and improved overall productivity across departments. The disadvantages are that individual results may not be consistent from month to month resulting in possible dissatisfaction if they don't receive the expected compensation. Administering this plan may require more resources both financially (for bonuses) as well as additional personnel (to monitor progress against objectives). A compensation approach aligned with expectancy theory could involve implementing an incentive system based on predetermined thresholds achieved by representatives while speaking with customers such as call duration or positive feedback received from customers regarding quality of service received etc., This type of system allows employees to have control over how much they earn within a certain period by exceeding objectives through effort put forth while taking calls on any given day without necessarily having large chunks tied together at the end of every month like reinforcement theory does alone. The advantage here is that the reps' ability to control their own earnings can lead them feel more empowered than simply being told what goals need accomplished like reinforcement theory suggests leading them into feeling less controlled by management but instead striving independently for better performance outcomes . Potential negatives are similar; fluctuations between pay periods due to sometimes unpredictable performance metrics set forth from external sources like customers providing feedback on interaction etc.. Administration wise it can become complex especially since there are too many variables involved such as setting timeframes for reaching these predetermined thresholds etc., so proper tracking systems should be implemented in order to ensure fair payouts based upon representative’s efforts throughout any given period. Finally, agency theory focuses mainly on incentivizing longer term commitment meaning tying some portion of representatives' salaries directly into utilizing company provided services i.e stock options yet only if certain benchmarks were reached over set amount timespan such as meeting required sales quota year after year or reaching stipulated customer satisfaction ratings every three months among other things depending upon particular organization's needs/goals . Advantages lie mainly inside employee motivation towards staying within same organization long-term due potential gains down road unlike single payment system offered via expectation/reinforcement theories discussed earlier where reps lack sense commitment past current project being worked on thus potentially leaving sooner than originally planned out due uncertain nature associated w latter two approaches outlined before . As far negatives those boil down mostly managerial side i'm afraid seeing how stakes suddenly raised quite significantly concerning employee retention due added incentives tied into long term work however those measures can prove worth investment since money saved replacing new hires time after time amounts much greater sum than initially anticipated . Finally administration wise same issue arises here albeit slightly different selling point behind entire concept namely ensuring everything runs smoothly according booking protocols created ahead time whenever granting stock options rewards employees completing tasks asked them during contract agreement initial stage itself .