week 5Pay-for-Performance Approaches (graded)Does your organization have a pay-for-performance system? If so, describe how it works. If your organization does not, discuss the type of plan they do have and whether or not you think they should have a pay-for-performance plan.Rating Performance Effectively (graded)Which performance appraisal formats does your organization use? Given what you learned in the reading for this week, how could it be improved? Of all of the approaches found in the course reading for the week, which would you recommend as the best for your organization to use?week 6Executive and Other Special Group Pay (graded)In 2008, Pratt estimated that executives received more than 360 times the pay of the average worker (as cited in Milkovich, Newman, & Gerhart, 2011). What are the components of executive compensation? Why are there so many societal concerns about executive pay today?Managing Compensation Programs (graded)Compensation programs are managed to ensure that the total compensation is aligned with organizational goals and strategies. There are a number of employees with the correct skill sets, and they are paid at the appropriate level and within a budget that is affordable to the organization. How can labor costs be managed? What tools are available to HR?Does your organization have a pay-for-performance system? If so, describe how it works. If your organization does not, discuss the type of plan they do have and whether or not you think they should have a pay-for-performance plan.Which performance appraisal formats does your organization use? Given what you learned in the reading for this week, how could it be improved? Of all of the approaches found in the course reading for the week, which would you recommend as the best for your organization to use?week 6In 2008, Pratt estimated that executives received more than 360 times the pay of the average worker (as cited in Milkovich, Newman, & Gerhart, 2011). What are the components of executive compensation? Why are there so many societal concerns about executive pay today?Compensation programs are managed to ensure that the total compensation is aligned with organizational goals and strategies. There are a number of employees with the correct skill sets, and they are paid at the appropriate level and within a budget that is affordable to the organization. How can labor costs be managed? What tools are available to HR?