Compensation Essay Examples

Compensation

What is Pay-for-Performance Compensation?
Words • 1612
Pages • 6
1. Does money motivate employees? Why or why not? Most would think the answer to this would be a yes, money motivates employees. What else can be better than you being able to live comfortably and not have the stress of not being able to pay bills? It is safe to say money is the most common type of motivator that most companies have used to ensure that their employees become more productive. Even though it is presumably the most…...
A Conceptual Framework on Organizational Commitment and Compensation
Words • 1439
Pages • 6
Abstract This research paper attempts to provide an exploration of the conceptual literature on the subject of Organizational Commitment. The relationship between human resources and organizational commitment plays a crucial role in the development of any organization. A primary objective of this research is to investigate theoretical perspectives in order to explain organizational commitment with particular reference to telecommunication sector. The paper suggests that organizations need to pay attention to the relationship that prevails in the organizational culture. Previous literature…...
College Athletes: What is Fair Compensation?
Words • 893
Pages • 4
College athletes devote much of their time and energy to their teams, and in return typically the teams often receive most of the money, so in return, student-athletes should be paid. College Athletics brings billions and billions of dollars toward the industry that attracts many more participants each year. As the years go by universities and athletes become much more competitive, which results in better performances and more revenue generation towards both the universities and athletics. Due to the nature…...
Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
Workers compensation
Words • 153
Pages • 1
Workers compensation The Workers’ Compensation laws have been put in place so that the employees who are either injured or disabled in the course of their duties get monetary awards so as to eliminate any need that might arise for legal action to be taken.  Those who depend on the employees who happen to die as a result of accidents in the workplace or illnesses which lead to death are entitled to some benefits. The state workers’ compensation statutes establish…...
Current Compensation
Words • 602
Pages • 3
Current compensation is the wages, salaries, bonuses, and other forms of remuneration that are paid or are directly provided to employees in the year in which they perform services for the employees (Lassila & Kilpatrick, 2003). According to Lassila & Kilpatrick (2003), it si typically the largest segment of the total compensation package provided to rank-and-file employees and executives alike. Current compensation is the largest segment because most employees rely on it to satisfy their current consumption expenditure requirements. At…...
My Reflection On Compensation Management
Words • 86
Pages • 1
Compensation Management             The amount of compensation an employee receives for his or her services to a firm is a very sensitive issue because it is a reflection of what the employee is worth to the firm. Compensation even is one of the major motivators for employees; and it is motivation that leads to increased productivity. A firm can choose to compensate its employees based of length of tenure and seniority or based on ability and productivity. Both systems have…...
Compensation Management of a Multinational Company
Words • 1566
Pages • 6
The strategy that followed by HRS is described below: Vision: Vision crystallizes our employee focus as the cornerstone of everything we do; to help our customers get the full benefit if communications services in their daily lives. It describes our ambition for future, sets a common direction across the group, and shall inspire all employees to imagine how they can contribute. Our values describe what behaviors are necessary to realize that vision. HRS is a Critical Enable for Milliner Bangladesh…...
Compensation essay
Words • 178
Pages • 1
Compensation Introduction      One of the most difficult functions of personnel management is that which concerns compensating the employees fairly and equitably. However, for a Christian businessman and entrepreneur or anyone in the leadership strata with the power to influence business or salary administration, there is the assumption that more that is expected (Noreen, 1988). This paper will discuss the Christian imperative surrounding compensation management in the light of the revelation of scriptures in stark contrast to the secular option.…...
Compensation And Employee Motivation
Words • 1564
Pages • 6
Compensation and motivation are two things which go hand in hand in business management. Motivation is important in any field, whether it is a business, armed services or even in sports. On the other hand compensation is an effective lever used world wide to inspire and motivate an individual. It orbits around a common principle of taking extra than the current market standard and giving a performance of hindered and ten percent. It is seen that without motivation an individual…...
Cape Breton Wall Compensation and Benefits
Words • 2984
Pages • 11
The cape Breton workers receive in the production department the following hourly wages: trainee 7 dollars / hour, assistant 9 dollars / hour and printer 11dollars / hour. Yearly increases are calculated based on the cost of living formula. According to the case info these wages are considered fair and even competitive against the wages of similar jobs in the area. The salary increases are based on linear career development. While it was not mentioned in the case study how…...
Evaluate the existing compensation plan to determine if it is the most
Words • 1238
Pages • 5
Evaluate the existing compensation plan to determine if it is the most appropriate for your company. Explain your rationale During the hiring process when deciding on a potential candidate, and coming to a decision, the new hire must agree with our terms. Sprint operates on a market-based salary compensation plan; this is the method they use to determine salary distribution. Sprint sales department contains commission. We know in today's world to live comfortably you will have to have a base…...
Employment and Employee Compensation Victoria’s Secret
Words • 2526
Pages • 10
Summary As an employee in Victoria's Secret, My friend noticed the employee compensation and benefits are not distributed fairly among all the employees, which lead to high turnover, low employee morale, and low sales productivity. Victoria Secret utilize Pay-for-Performance Model to motivate an employee for a better job performance which is measured by meeting the assigned daily goals. The issue is each job position at Victoria Secret is different, yet the goals are very similar for measuring job performance and…...
Employee Compensation System
Words • 2329
Pages • 9
The reward or incentive which can be calculated in terms of money is known as monetary incentive. These incentives are offered to employees who have more physiological, social and security need active in them. The common monetary incentives are:Pay and allowances. Regular increments in salary every year and grant of allowance act as good motivators. . To get increment and allowance employees perform to their best ability.Profits sharing. The organization offer share in the profits to the employees as a…...
The Effect of Non-Financial Compensation
Words • 449
Pages • 2
The Effect of Financial and Non Financial Compensation to the Employee Performance Arik Prasetya† and Masanori Kato Graduate School of Asia Pacific Studies, Ritsumeikan Asia Pacific University Beppu-shi, Oita-ken, Japan Abstract-- This study aims (1) to examine the employee responses in terms of their performance to an implementation of the compensation policy that includes both financial and non financial compensations, (2) to analyze the influence of both financial and nonfinancial compensation collectively and individually. This research was conducted at PT.…...
Importance of Compensation in a Business Company
Words • 3154
Pages • 12
Compensation does not refer, however, to other kinds of eployee rewards such as recognition ceremonies and achievement parties. The ultimate objectives of compensation administration are: efficient maintenance of a productive workforce, equitable pay, and compliance with federal, state, and local regulations based on what companies can afford. The basic concept of compensation administration—compensation management—is rather simple: employees perform tasks for employers and so companies pay employees wages for the jobs they do. Consequently, compensation is an exchange or a transaction, from which…...
Compensation Management
Words • 2295
Pages • 9
Compensation Management is an integral part of the management of he organization. Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. It may achieve several purposes assisting in recruitment, job performance, and job satisfaction. It is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. It is a tool…...
Compensations and Benefits
Words • 907
Pages • 4
Introduction When creating a benefit package for their organization, managers must take into consideration an array of conditions that will affect both the organization and the personnel it employs. These conditions range from external factors such as laws mandated by both local and federal agencies to internal factors such as administrative requirements, cost that stem from purchasing and maintaining equipment and employee incentives. By the end of this paper, I will explain the essential role each of these factors play…...
Two important compensation issues are wage-rate compression
Words • 310
Pages • 2
A considerably important issue with gender-related experiences is equal pay for comparable worth. Comparable worth defines the idea that men and women share the same values that should be funded equally in pay. This issue has been created by the idea that jobs performed by women are generally paid less than those performed by men. “This practice results in what critics term institutionalized sex discrimination. ” The issue goes beyond whether a female waitress should be paid the same as…...
Elements of Expatriate Compensation
Words • 285
Pages • 2
The sum of pragmatic substantiation on the interaction between reimbursement stratagem and national culture and echelon of trade and industry progression of an economy is virtually not anything (Harvey, 1993). Due to the advent of globalization and the constantly rising total of international business, the Society for Human Resource Management International has observed that several expatriates, nationals and third country nationals whose fate crossed on borderlines felt that the compensation they receive are piously beyond their professional expectations. As a…...
Inadequate Compensation
Words • 989
Pages • 4
"Compensation for most positions is far below the market average for our region, no annual increases in the last 4 years." Salary.com's survey results show that inadequate compensation is by far the number one reason that dissatisfied employees want to leave their job. It has been proven time and again that fair pay practices benefit not only the employee, but also the employer (by reducing unwanted and unanticipated turnover costs). Employees who are paid competitively, relative to their specific market,…...
Designing Compensation Systems and Employee Benefits
Words • 2136
Pages • 8
A compensation system has an important role in a company. An ideal compensation system can motivate employees to enhance their job performance. An organization can use adequate compensation to retain talented employees. Retaining talented employees is important because they help organizations grow and earn high profits. A well-constructed compensation system is the key to an organization being successful and prosperous (“Importance of Compensation,” 2007). To further elaborate on the importance of compensation, the differences amongst job analysis and job evaluation…...
Compensation package
Words • 609
Pages • 3
The market for private-label athletic footwear is projected to grow 10% annually in all four geographic regions during the Year 11-Year 15 period and 8.5% annually in all four regions during the Year 16-Year 20 period. In Year 11, footwear companies can expect to sell an average of 4.84 million branded pairs and an average of 800,000 private-label pairs, although sales at some companies may run higher or lower than the averages due to differing levels of competitive effort. Which…...
CEO compensation
Words • 1843
Pages • 7
Just recently CEO payment packages have high rocketed making lots of people question the validity of their compensation. Many concerns have been risen to discover if CEO payment if excessive. Through this paper we will discuss why we feel CEOs in America are grossly overpaid. We will start by talking about the ethics on the matter and after that the pay-performance connection within companies. We will also touch on the genuine incomes of employees and how America compares to worldwide…...
Organizational Objectives and Total Compensation
Words • 838
Pages • 4
Compensation laws designed to protect the employees of an organization. A compensation package comprises of monetary and non-monetary benefits to help an organization in retaining the highly qualified, to spark high performance, and to attract quality applicants. Those compensations will vary from industry to industry and from employer to employer within those industries. The size of the organization and the number of employees will dictate how many benefits are offered in a total compensation plan. The list of benefits is…...
Total compensation package
Words • 722
Pages • 3
Total compensation encompasses all of the resources available to employees such as money, benefits, and services that reward the employee for their services with the company (Virginia Tech). A total compensation package covers may aspects such as extrinsic and intrinsic compensation. Extrinsic compensation is more of the monetary or legal means behind paying employees. Intrinsic compensation is the quality of life at work such as job variety or management feedback. Companies can use their compensation packages to attract certain types…...
The Effect of Laws & Regulations on Total Compensation
Words • 938
Pages • 4
There are certain applicable Federal and State laws that do have some type of affect on compensation within an organization, as well as taxes paid on income. The way an organization determines the benefit plan and salaries of its staff are directly related to the guidelines produced from certain Federal and State laws. A law that is well known and is a top priority for organization to adhere to is the fair labor standard act. The owner of the business…...
Olympic Athlete Compensation
Words • 3082
Pages • 12
Purpose The purpose of this research on compensation of Canadian Olympic athletes is to determine how athletes that represent Canada on the National level are compensated and rewarded for the time they put in to their rigorous training to prepare for an event once every four years. Professional athletes in leagues such as the National Basketball Association, the National Hockey League and Major League Baseball are obviously compensated with a large salary to justify all the time they spend preparing…...
Compensation and Benefits Strategies Recommendations
Words • 2179
Pages • 8
In this scenario, Team A has agreed to work with a small business, Landslide Limousine. Bradley Stonefield is our client whom we must develop some compensation and benefit recommendations. Landslide Limousine is a small business with approximately 25 employees that is located in Austin, Texas. First, Team A will conduct a market evaluation by researching what companies in the relevant market are providing to employees from a total compensation perspective. Second, recommend a compensation structure. Third, recommend the position in…...
4 objectives of a compensation system
Words • 607
Pages • 3
Pay systems translate the strategy into practice in order to achieve certain objectives. The basic objectives are efficiency, fairness, compliance with laws and regulations and satisfaction of the employees. 1.Efficiency consists of:a.Improving performance, increasing quality, delighting customers and stockholders. When the organization improves the performance she will get the benefit from the employees, which will affect the organization's strategy and will lead to the competitive advantages among other competitors and will achieve the upward momentum, and continuous improvement (virtuous circle).…...
The best-fit and the best-practices compensation model
Words • 998
Pages • 4
The terms "best fit" and "best practice" are used in strategic human resource management and applied to the specific policy area of reward systems. Each approach attempts to explain the way that HR policies in general and reward policies in particular can lead to greater organizational effectiveness. The "best fit" perspective claims that a firm's reward system should be aligned to support the organization's business strategy in order to achieve competitive advantage. "Best practice" advocates claim that there is a…...
The role of compensation and rewards in modern organization
Words • 1265
Pages • 5
Introduction Compensation is an essential and universal component of the management process of every organization. Most organizations want to fulfill their mission, achieve their objectives and maximize return on their investment, particularly on their human capital. Doing so requires that their compensation philosophy, design, delivery and decisions be balanced, fair, focused, and understood by their employee and potential employee constituencies. Text Role of Compensation and RewardsAn effective compensation system is about much more than base pay. It incorporates a wide…...
The need for designing of Compensation Policy
Words • 1172
Pages • 5
Introduction Organizations should establish and communicate clear principles by which employees are paid. At a minimum, organizations need to ensure that their compensation policy adheres to employment legislation. Policy guidelines should reflect the thinking, values, and basic strategies of the company, and they must be set consciously and thoughtfully by top management. Before setting compensation policies, management should address some basic policy questions:• How will jobs be valued (by content, skills required, etc.)?•How should pay compare to similar positions in…...
What do you mean by Compensation Structure?
Words • 1179
Pages • 5
Introduction When it comes to employee compensation, most managers are busy asking: "What do I have to pay to…?" That is not an easy question to answer. A better question might be: "What do I want my compensation package to say?"Compensation package of the organization says it all like the child care and health benefits say that the company values family. Giving longevity bonuses for employees on the anniversaries of their employment says that the company value employees who stay…...
Practice of Employee Compensation and Benefits
Words • 1064
Pages • 4
Black Corporation, an innovative new technology corporation, has just hired John as the director of their Human Resources Department. As HR Director, John has been tasked with hiring an Administrative Assistant/ Secretary for the advertising department and to develop an employee compensation and benefits package that will be used for that position upon hire. He must elaborate on Black Corporation and the type of organization for which he is designing the package and develop an employee compensation and benefits package…...
Employee Compensation and Benefits
Words • 369
Pages • 2
Companies today should mirror their compensation and benefit programs with their long- term business strategy and organizational culture. According to Casio (2010), “Pay systems are designed to attract, retain, and motivate employees” (p.421). The most important objective is fairness or to achieve internal, external, and individual equity; and maintain a balance in relationships between direct and indirect forms of compensation, and between the pay rates of supervisory and nonsupervisory employees. Employers must perform job analysis, develop job descriptions, evaluate the…...
Equal Pay Act Assignment
Words • 748
Pages • 3
Research the Equal Pay Act of 1963: why is it important to know this law when designing the internal alignment piece of your compensation program? The Equal Pay Act (EPA) means men and women receive the same amount of payment for doing the same work, which it will be illegal if employers pay women less than men or for men who get less paid than women for the same work. This Act was passed in 1963 as a revision to…...
Compensation and Benefits
Words • 470
Pages • 2
This assignment compared and contrasted compensation programs of McDonald’s and Walmart Canada. It look at the Philosophy, Base pay, Short term and Long Term cash incentives, indirect compensation benefits and Recognition programs. The Philosophy of McDonald’s is “Pay for performance” while Walmart promises a lot of career opportunities. McDonald’s compensation program is more suited to encourage young high performance culture. While Walmart rewards more stable employees that will stay with the company for a long term. Compensation System comparison of…...
Organizational Objectives and Total Compensation in Different Markets
Words • 638
Pages • 3
Organizational Objectives and Total Settlement in Different Markets Overall settlement is a crucial piece of the human resource puzzle. It is the thread that can connect valuable employees to the company and its total success. The laws and policies are substantial in knowing and comprehending in an attempt to apply that knowledge to the general style of the overall payment package a business offers. Working as a federally contracted company for more than 200 workers, particular laws and policies will…...
A study of Compensation Management
Words • 388
Pages • 2
In spite of the multiple advantages and benefits of settlement management and its effect on staff member's efficiency, it can not still be said that having settlement management policy is a remedy for success in appraising, and handling worker's efficiency. It is therefore the responsibility of all managers to make sure that the usage of compensating policy meets staff member's expectation in order to have good and efficient performance. The very first standard requirement for effective and functional efficiency system…...
?Performance Appraisal & Compensation Process
Words • 350
Pages • 2
The performance appraisal is conducted by the immediate manager or supervisor, who does a narrative writing and graphic scale analysis for rating the new employee performance. All of the compensation plan along with benefits; incentives are included in the performance appraisal process of Unilever Bangladesh Ltd. To hold effective performance management they follow some steps: Know the problems Using the right and effective appraisal tool Keep a diary Get agreement on a plan Be fair Review the related performance Always…...
We've found 46 essay examples on Compensation
Prev
1 of 2Next

FAQ about Compensation

What is Pay-for-Performance Compensation?

...Pay-for-performance has become more utilized as a means to increase productivity and decrease the costs in the public sector. In a government sector, you will find that pay is often based on grades and seniority where the civilian pay had been gradua...

College Athletes: What is Fair Compensation?

...However, once the season started up, he couldn’t work that job anymore. We were on the road all the time, even gone for two straight weeks at one point. The teachers let us do our work from the road, but the job wasn’t going to pay you just becau...

What do you mean by Compensation Structure?

...Compensation structure has to be designed in a meticulous way and all the components should be considered. If you want employees to be innovative-reward them for new ideas. If you want employees to stay for a long time instead of training new employe...