5.6 Chi – Square Test of attributes:
General Test Procedure:
In general, Null Hypothesis (H0) and Alternative Hypothesis (H1) in Chi-Square test of Attributes is given as follows:
H0: Attribute A and Attribute B are independent.
H1: Attribute A and Attribute B are not independent. α: Level of significance = 0.05
Test statistics : χ^2= (∑▒∑ (O_ij- E_ij )^2)/E_ij
χ_cal^2= (∑▒∑ (Observed Percentage-Expected Percentage)^2)/(Expected Percentage) χ_cal^2 distribution with (m-1)(n-1) degrees of freedom, where, m : number of rows. n : number of columns.
Critical region : { χ_cal^2 ≥ 〖 χ〗_((m-1)(n-1),α)^2}
Hence critical region is given as follows:
χ_((m-1)(n-1),α)^2
α
Decision Rule: If P-value
…show more content…
H1: Satisfaction of bonus and incentives is not independent of types of bank.
Result:
P-value of χ_cal^2≅ 0.00000.
Conclusion:
As P-value less than α we reject H0. Hence, Satisfaction of bonus and incentives is not independent of types of bank.
7) Table 51
Here we are testing independence between two Attributes:
A: Satisfaction of bonus and incentives
B: Types of bank
Hypothesis:
H0 : Satisfaction of bonus and incentives is independent of types of bank.
H1: Satisfaction of bonus and incentives is not independent of types of bank.
Result:
P-value of χ_cal^2≅ 0.00000.
Conclusion:
As P-value less than α we reject H0. Hence, Satisfaction of bonus and incentives is not independent of types of bank.
8) Table 52
Here we are testing independence between two Attributes:
A: Overtime Allowances
B: Types of bank
Hypothesis:
H0: Overtime Allowances is independent of types of bank.
H1: Overtime Allowances is not independent of types of bank.
Result:
P-value of χ_cal^2≅ 0.00000.
Conclusion:
As P-value less than α we reject H0. Hence, Overtime Allowances is not independent of types of bank.
9) Table 52
Here we are testing independence between two Attributes:
A: Job
…show more content…
H1: Satisfaction with job is not independent of types of bank.
Result:
P-value of χ_cal^2≅ 0.00000.
Conclusion:
As P-value less than α we reject H0. Hence, Satisfaction with job is not independent of types of bank.
HEALTH
15) Table 59
Here we are testing independence between two Attributes:
A: Health is affected due to work culture
B: Types of bank
Hypothesis:
H0: Health is affected due to work culture is independent of types of bank.
H1: Health is affected due to work culture is not independent of types of bank.
Result:
P-value of χ_cal^2≅ 0.319253.
Conclusion:
As P-value greater than α we may accept H0. Hence, Health is affected due to work culture is independent of types of bank.
16) Table 60
Here we are testing independence between two Attributes:
A: Troubled headache
B: Types of bank
Hypothesis:
H0: Troubled headache is independent of types of bank.
H1: Troubled headache is not independent of types of bank.
Result:
P-value of χ_cal^2≅ 0.061225.
Conclusion:
As P-value greater than α we may accept H0. Hence, Troubled headache is independent of types of bank.
17) Table
Gabris and Giles (1983) research also supports the importance of performance incentives and its role in relieving conflict, so much more that it trumps human relations methodologies. Furthermore, it indicates that lack of performance incentives shows weak organizational objectives, behaviors, structural arrangement (Gabris & Giles, 1983). The importance of performance incentives have a dramatic influence on an organization yet it so simple that it may be dismissed.
Employees protested, “that supervisors should have received a reduced bonus because they were not working as hard as they are and the company might be playing with the numbers” (Beer & Collins, 2008 p.6). A beneficial system for the new Scanlon Plan is to rearranged payout count. This will help to regain trust amongst employees and management. Equity Theory stresses integrity to all compensation arrangement and if this is effectively executed, then this will resolve the mistrust issue that employees have with their management team. The rewards should not be paid on a consistent month-to-month basis, instead, on a settled proportion plan, which gives rewards "each nth time the right behavior is demonstrated" (Bauer and Erdogan, 2013, p. 112). Traditionally, this would imply that workers are paid reward each time a specific measure of cash in permitted payroll is met. “The current permitted payroll is at 38% of sales value” (Engstrom, 2008). This requires no change. Instead, when Engstrom comes to a permitted payroll of one million dollars, then 10% of that sum should naturally disbursed to workers as rewards. This tackles numerous past issues with the Scanlon
Management should share the responsibility with employees to calculate how fast bonuses are generated and earn. This may be a sensible strategy explained by the Vroom 's Expectancy theory; which suggest that people will be motivated to accomplish an objective if they feel it benefits them and also help accomplish the objective. Thus, the employees feel a significant worth of respect, and their sense of liberty increases. The modification to the Scanlon Bonus Plan directly relates to the motivation of employees and has them embrace the social system they operate in at the organization. These adjustments of the Scanlon Bonus Plan straightforwardly identifies with the motivation of employees and how they embrace the social
Issue(s): A bonus system based on profit, could incentivize Lakeside Company’s employees to manipulate financial information for their own potential personal gain. Each location under Lakeside will be working towards increasing their profits so they receive the biggest bonus possible. Since their internal controls are weak, this increases the possibility of this fraud. However, it is important to mention that the predecessor auditor believed that the people at Lakeside, that they worked with, are people of integrity. This type of positive organizational culture tends to decrease potential fraud risk.
The purpose of this paper is to explore the use of Merit Pay and Incentives
The major objective of incentive plans is to preserve a company most capable people. In order to maintain the competitive edge, companies have to award incentive plans and bonuses that are similar or greater than other companies. The retentive of the best talent is merely a one benefits with offering incentive plans, when employees receive incentive for their work production tend to increase along with the company’s profits.
...r investigate what sort of rewards or fringes would their employee’s desire compared to the old method of monetary incentives for the beneficial for the company”.
According to the Abeysekera (2007), salary play an important role to affect the employee has an intention to quit from job. By mean that, if the employee received a high payment or salary will decrease the employee quit from job. This is because, employees will feel the sense of fairness (equity) of pay in relation to the job done (Lum, 1998). The employer must observe the principle of fairness for the determination of wage for their employee in the organization Hendoko(1998). Received salary satisfaction based on the condition of equity theory of motivation to act in the organization's employees. Workers will assess ratio input on the outcome of the job on hand and make the comparison of it. Meaning to say that, if the organization offer the higher payment of wages, than will attract the employee to stay or loyal to the organization Lgbaria, Greenhaus and Parasuraman, (1991). Pay satisfaction can be seen that the person will be satisfied with his salary when the perception of salaries and what they earn according to expectations. Several studies identify aspects of satisfaction found associated with individual desire to leave the organization will cover wage and promotion satisfaction
Reichelstein, S. (2000). Providing Managerial Incentives: Cash Flows versus Accrual Accounting. Journal of Accounting Research, 38(2), 243.
Long working hours continue to be one of the largest health concerns in the world. Currently, the world population has become so busy due to the pressure from harsh economic conditions. People are therefore spending long working hours in the workplace, which is an aspect that has negative impact on their health conditions. Statistics from Working Condition Survey indicates that approximately 30% of workers residing in European Union believe that their health is at risk due to the hours they spent in the workplace (Gurung, 2010:16)
Personality tests tell a person a lot about why a person is who they have become. I believe that these test if taken truthfully can identify deficiencies that individuals can work on to benefit not only themselves but others in the organizations that they work in. Some models state that it is in human nature and chemicals that decided how a person acts but I believe it is based on life experiences and a personality can change as long as a person knows the deficiencies and works to change them.
Chen, Hai-Ming, & Hsieh, Yi-Hua. (2006). Key Trends of the Total Reward System in the 21st
The individual personality traits also effect the stress equation because what may be overloading to one person may be terrifying to another. In organizations the Job stress among employees leads to several behavioral, psychological and physiological complications and as a result it directly affects the employee's health. There is a growing understanding that job related stress negatively affects the health of workers. In previous studies the effects of job stress has been extensively examined on employees' job satisfaction, performance, motivation, and turnover (Sheraz et al. 2014; Kazmi, Amjad, S., and Khan, 2008). The employees' Job stress is very much within the area of industrial and organizational psychology. However, the association of job stress to the physical and mental health of employees has not been studied extensively by many industrial and organizational psychologists. As most of the employees spend most of their time to work related activities, it seems likely that in addition to physical factors on the job the social and psychological factors may have important influence on their health and job (Tucker et al. 2010). So, it is not surprising to discover that most of the information regarding the effects of job stress on health is in non-industrial and organizational psychology journals (Quick et al.
The research further revealed that private sector employees would like to have their pay linked to own performance (48%), the cost of living (38%) and their organization’s performance (28%). Meanwhile, public sector workers would like to have their pay linked to the cost of living (60%), their individual performance (36%). The fact that some private company employees got pay rise in the year 2014, it is a policy action that validates private sector employees tend to yield more positive attitudes pay. The private sector employee pay and benefits are tied to individual or group performance and this is the whole reason for private companies for implementing a policy that is used to award employees who achieve the set targets. The employers know very well that this type of remuneration motivates employees to do more
A variety of groups are concerned in bank profitability for various reasons. The bank shareholders would want to know if the value of their investments is high or low. The investors also use current and past performance to predict future price of the banks’ shares traded on the stock exchanged. The management of the bank as trustee of the shareholders is evaluated and compensated on the basis of how well their decisions and planning have contributed to growth in assets and profits of their banks. Employees of bank also are concerned with profits, since their salaries and promotions are frequently tied to the profitability performance of their banks. Depositors use bank performance and profitability as indicators of security for their deposits in the banks. Finally, business community and general public are concerned about their banks’ performance to the extent that their economic prosperity is linked to the success or failure of their banks.