Answer To: topic- shift bonusArticle - Negotiation StrategyThis is an individual or pairs assignment....
Asif answered on Mar 06 2023
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Table of Contents
Abstract 2
Keywords 2
Introduction 2
What is a Shift Bonus? 2
Proposed Collective Agreement Language Changes 3
Developing a Successful Negotiation Strategy for Shift Bonus 3
Knowing Priorities 3
Research 3
Build a Coalition 3
Be clear and concise 4
Be prepared to compromise 4
Stay focused on the big picture 4
Costs of the Target Position: 4
Negotiating a Shift Bonus 4
Research and Preparation 4
Consider Trade-Offs 4
Structure and Incentives 5
Communication and Collaboration 5
Research Methods 5
Results 5
Discussion 6
Negotiating a Shift Bonus 6
Case Study of Negotiation for a Shift Bonus: 7
Importance of Negotiation Strategy for Shift Bonus 7
Conclusion 8
References List: 9
06th March 2023
Article - Negotiation Strategy for Shift Bonus
Abstract:
In the present time of globalized and competitive business era, a good negotiation strategy is essential in addressing and solving the tension between an employers and employees. It allows both the parties to develop good interpersonal relationship. Negotiation strategy is also more crucial in achieving a fair and reasonable shift bonus for employees. It also play key role in resolving the conflict in the workplace by creating value in contracts. When there is any dispute arises in business, a negotiation strategy avoid conflicts. On the other hand, shift bonuses are the payments made to employees for working certain shifts or hours that are considered undesirable, and they have become an increasingly important tool for employers to incentivize their workforce to take on challenging shifts. However, negotiating a shift bonus can be a complex and difficult process. A well-developed negotiation strategy is crucial for employees to achieve a shift bonus that meets their needs and interests while also considering the needs and interests of the employer. By carefully considering the trade-offs and incentives, employees can create a package that meets the needs of both parties and results in a fair and reasonable shift bonus. The main aim/purpose of this research article is to analyze the importance and significance of a good negotiation strategy for shift bonus. This research article explain the importance or significance of negotiation strategies for shift bonus.
Keywords: Employer, Employees, Negotiation, Shift Bonus, Conflict, Labor market, Salaries, Work, incentives, trade-offs, package, Collective bargaining, agreements, union, management, and experts.
Introduction
When it comes to negotiating a new collective agreement, one topic that can be particularly important for employees is the shift bonus. There are many factors to consider, including salaries, benefits, working conditions, and non-monetary articles. One non-monetary article that can be of particular interest to employees is the shift bonus. This research article analyze the collective agreement language changes that have been proposed in recent negotiations and evaluate their effectiveness in achieving fair and reasonable shift bonuses for employees. This research article also explain the key negotiation strategies for shift bonus[footnoteRef:1]. [1: Marin R (2021). Rewards management in organizations: a retrospective on what organizations have set out and achieved in order to identify future actions, The Journal of Organizational Management Studies, Vol. 2021, pp. 642473.
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What is a Shift Bonus?
A shift bonus is an additional payment that employees receive for working certain shifts or hours, often those that are less desirable or more challenging. Simply, it can be said that, a shift bonus is an additional payment provided to an employee for working during non-traditional or unsociable hours, such as night shifts, weekends, or holidays. The shift bonus is often used to compensate employees for the inconvenience and disruption to their personal lives caused by working at unsociable times[footnoteRef:2]. Shift Bonus can be especially relevant in industries that require 24/7 operations, such as healthcare, manufacturing, or transportation. The amount of the shift bonus can vary depending on the company's policies and the employee's role and responsibilities, but they are typically designed to compensate employees for working less desirable shifts, such as overnight or weekend hours. For example, some companies may offer a flat rate bonus, while others may provide a percentage of the employee's hourly wage for each shift worked outside of normal working hours[footnoteRef:3]. [2: Aleksić M. M., (2019). Jerotijević G., Jerotijević Z. Modern approaches to employee motivation, Ekonomika, Vol. 65, No. 2, pp. 121-133.
] [3: Akimova L., Akimov O., Maksymenko T., Hbur Z., & Orlova V. (2020). Adaptive management of entrepreneurship model as a component of enterprise resource planning, Academy of Entrepreneurship Journal, Vol. 26, No. 3, pp.1-8.
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Proposed Collective Agreement Language Changes
When it comes to proposing specific language changes for a shift bonus, there are several options. Here are a few examples:
· Establish a minimum shift bonus rate for all employees who work designated "unsocial" hours, such as overnight or weekend shifts.
· Increase the shift bonus rate for employees who work a certain number of "unsocial" hours in a given period (e.g., a month or a quarter).
· Create a tiered system for shift bonuses based on the number of "unsocial" hours worked in a given period, with higher bonuses for employees who work more of these hours[footnoteRef:4]. [4: Smith, J. D., & Lee, S. Y. (2021). Negotiation strategy for shift bonus: A case study in a manufacturing company. Journal of Applied Psychology, 106(4), 543-555. https://doi.org/10.1037/apl0000978
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Developing a Successful Negotiation Strategy for Shift Bonus
The following given are the specific and important tips for developing a negotiation strategy such as:
· Knowing Priorities: Before entering into negotiations, it's important to have a clear understanding of what priorities are. What are the key issues that need to address? What are the most important changes want to make to the collective agreement language? Knowing priorities will help an individual focus negotiations and make sure that he/she achieve the best possible outcome[footnoteRef:5]. [5: Brown, H. M., & Johnson, L. W. (2020). Negotiation tactics and strategies for compensation: The case of shift bonuses. In M. R. Barrick & A. M. Ryan (Eds.), Compensation in Organizations: Current Research and Practice (pp. 169-188). Routledge.
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· Research: Before the negotiations, do research on the current market standards for shift bonuses. The following question should be considered such as:
· What do other companies in industry offer?
· What are the current trends?
· Having this information will give leverage during negotiations and help make a strong case for proposed changes[footnoteRef:6]. [6: Arnolds C., & Boshoff C. (2001), The challenge of motivating top management: a need satisfaction perspective, SA Journal of Industrial Psychology, Vol 27, No 1, pp. a773.
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· Build a Coalition: It's important to build a coalition of support before entering into negotiations. This can include other members of union, management, and even outside experts. Having a strong coalition will give more bargaining power and make it easier to achieve goals.
· Be clear and concise: During negotiations, it's important to be clear and concise about goals and the changes an individual want to make to the collective agreement language. There should have a clear understanding of the proposed changes and be able to explain them in simple terms. Avoid using technical jargon or complex language[footnoteRef:7]. [7: Ali A., & Akram M. N. (2012). Impact of financial rewards on employee’s motivation and satisfaction in pharmaceutical industry, Pakistan, Global Journal of Management and Business Research, Vol. 17, N0. 12,pp. 44-50.
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· Be prepared to compromise: Negotiations are all about give and take. Be prepared to compromise on some issues in order to achieve overall goals.
· Stay focused on the big picture: During negotiations, it's easy to get bogged down in small details. Stay focused on the big picture and remember what priorities are. This will help to stay on track[footnoteRef:8]. [8: Jones, L. M., & Nguyen, T. T. (2022). Negotiating shift bonuses: An examination of factors affecting success. Journal of Business and Psychology, 37(1), 23-34. https://doi.org/10.1007/s10869-021-09699-5
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By following these tips, an individual can develop a successful negotiation strategy for shift bonus proposed collective agreement
Costs of the Target Position:
When negotiating any aspect of a collective agreement, it's important to discuss the costs involved. In the case of a shift bonus, the employer may be hesitant to offer a higher rate if they believe it will significantly impact their budget. By...