Optimizing Pay for Performance and Employee Retention at GM

Optimizing Pay for Performance and Employee Retention at GM

This is a consulting report to General Motors Company, an automobile manufacturing company. The report will discuss findings on the pay for performance effectiveness from economic literature in generating a business outcome that is improved, how evaluation of the performance should be done, and essential concepts of creating incentive pay and related organizations evaluation frameworks. Moreover, the report will report to the managers to better understand why employees leave and recommend at least two programs for reducing the turnover problems. General Motors Company is an American multinational company with headquarters in Detroit, Michigan. The company manufactures, designs, distributes and markets vehicle parts and vehicles in addition to selling financial services (General Motors, n.d). According to…